Tanning Salons in the US - Industry Market Research Report
Description
Tanning Salons in the US
Economic and regulatory factors challenged tanning salons' performance even before the COVID-19 pandemic. Motivated by increasing health concerns for adults, especially children, the ACA included a 10.0% excise tax on indoor tanning services. The COVID-19 pandemic brought on additional revenue challenges leading to businesses closing, reduced revenue and significant client reductions. Fortunately, pent-up demand for services generated a healthy rebound in 2021, spurred by higher levels of consumer spending and international vacations in 2020 and 2021. Despite this rebound, industry-wide revenue has been contracting at a CAGR of 5.4% over the past five years, and is expected to total $1.8 billion in 2023. Revenue is projected to jump an estimated 1.3% in 2023.
The Tanning Salons industry includes companies that provide indoor tanning services through UV tanning beds and booths, in addition to spray-on tanning services.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
Economic and regulatory factors challenged tanning salons' performance even before the COVID-19 pandemic. Motivated by increasing health concerns for adults, especially children, the ACA included a 10.0% excise tax on indoor tanning services. The COVID-19 pandemic brought on additional revenue challenges leading to businesses closing, reduced revenue and significant client reductions. Fortunately, pent-up demand for services generated a healthy rebound in 2021, spurred by higher levels of consumer spending and international vacations in 2020 and 2021. Despite this rebound, industry-wide revenue has been contracting at a CAGR of 5.4% over the past five years, and is expected to total $1.8 billion in 2023. Revenue is projected to jump an estimated 1.3% in 2023.
The Tanning Salons industry includes companies that provide indoor tanning services through UV tanning beds and booths, in addition to spray-on tanning services.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
Table of Contents
43 Pages
- TABLE OF CONTENTS
ABOUT THIS INDUSTRY
Industry Definition
Main Activities
Similar Industries
Additional Resources
INDUSTRY AT A GLANCE
INDUSTRY PERFORMANCE
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
PRODUCTS & MARKETS
Supply Chain
Products & Services
Demand Determinants
Major Markets
International Trade
Business Locations
COMPETITIVE LANDSCAPE
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
Industry Globalization
MAJOR COMPANIES
OPERATING CONDITIONS
Capital Intensity
Technology & Systems
Revenue Volatility
Regulation & Policy
Industry Assistance
KEY STATISTICS
Industry Data
Annual Change
Key Ratios
JARGON & GLOSSARY
Search Inside Report
Pricing
Currency Rates
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