Transparency Market Research has recently published a market study that offers insights into the factors that will be governing the Spas And Beauty Salons Market in the Americas for the period from 2014 to 2020. The report, titled “Spas and Beauty Salons Market - South America, Central America and North America Industry Analysis, Size, Share, Growth, Trends, and Forecast 2014 – 2020”, is available for sale on the company website. The report states that the Americas spas and beauty salon market will rise at a 7.2% CAGR from 2014 to 2020. As such, the market, which stood at US$85.1 bn in 2013, is slated to be worth US$138.2 bn by 2020.
Consumers’ changing perception towards personal care coupled with continuous strive to improve general well-being are generating a positive impact on the spas and beauty salons industry. Growing consumer need to improve personal appearance and well-being has increased the demand for wellness solutions. Spa centers and beauty salons, in order to meet the increasing demand for unique spa and beauty services, are constantly striving to improve their services by focusing on changing consumer preferences. With the growing preference for healthy lifestyle, spas and beauty salons market in Mexico is expected to witness growth over the forecast period.
Moreover, the U.S. is dominating market for spas and beauty salons across rest of North America. Argentina and Colombia is dominating market for spas and beauty salons across South America. In Central America, Panama and Nicaragua is leading spas and beauty salons market. Increasing disposable income and changing consumer expenditure pattern related to personal appearance are boosting the growth of the Americas spas and beauty salons market.
In addition, rising beauty awareness and concern towards personal appearance are driving the North America spas and beauty salons market. Rising stress levels, both mental and physical, among consumers of various age groups are stimulating the demand for spas and beauty services across South America and Central America. Consumers’ changing perception towards personal care, and continuous strive to improve general well-being is also generating a positive impact on the Americas spas and beauty salons industry. Spa therapies, and services provided by beauty salons, such as body polishing and massages such as relaxation tranquility massage, exfoliate the skin by refining pores. Special spa massages rejuvenate the skin by promoting cellular renovation and by providing uniform relief.
Spas and beauty salons in the region are adopting new techniques and therapies to satisfy growing consumer needs. Furthermore, several large beauty salon chains and spa centers are adopting new techniques and machineries to improve services and obtain better results. Professional beauty and spa parlors are keen on acquiring qualified workforce for better service delivery. Moreover, spa centers and beauty salons are organizing training programs that meet international standards for beauticians to improve their services.
Americas spas and beauty salons market was valued at USD 85.11 billion in 2013 and expected to reach USD 138.27 billion by 2020, growing at a CAGR 7.2% over the forecast period. Increasing consumer demand for various therapeutic massage techniques, which reduce stress and provide instant relaxation to the body and mind, is a crucial factor for the growing popularity of this market.
North America held the largest market share in Americas spas and beauty salons market followed by South America in 2013. With rising consumer concerns over personal appearance and lifestyle, the spas and beauty salons industry has been witnessing significant growth over the past few years. Consumer awareness of the benefits associated with spas and beauty salon services is also propelling the growth of the Americas spas and beauty salons market.
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