A new Transparency Market Research report states that the Americas spas and beauty salon market stood at US$85.1 bn in 2013 and is predicted to reach US$138.2 bn by 2020. It is predicted to expand at a CAGR of 7.20% from 2014 to 2020. The title of the report is “Spas and Beauty Salons Market – South America, Central America and North America Industry Analysis, Size, Share, Growth, Trends, and Forecast 2014 – 2020.”
As stated in the report, the growing consumer preference for personal care and the ongoing efforts to enhance the general wellbeing of the population are amongst the chief factors fuelling the Americas spas and beauty salon market. In addition, the increasing preference of consumers to enhance their personal appearance has also augmented the growth of the market for spas and beauty salon in the Americas. There is an increasing level of stress, both mental and physical, amongst consumers of varied age groups in the Americas. This is why a number of consumers have started to opt for therapies offered by numerous spas and beauty salons in order to attain instant relief from muscle and joint pains. Thus, the growing preference of consumers towards numerous therapeutic massage techniques is also having a positive impact on the market for spas and beauty salons in the Americas.
According to the report, a number of new and advanced services and machinery have been introduced by numerous spas and beauty salons within the Americas for improving the results, hence boosting the overall growth of the Americas spas and beauty salon market. Furthermore, the majority of spas and beauty salons within the Americas have hired a qualified workforce and are providing a number of training programs in order to meet the international standards for enhanced service delivery. This will further augment the growth of the market.
On the basis of geography, the report segments the Americas spas and beauty salon market into Central America, South America, and North America. Amongst these, North America led the market in 2013 and was trailed by South America. The reason for the superiority of North America is the rising consumer awareness about the benefits of spas and beauty salon services. Within North America, the U.S. holds the largest share in the market. On the other hand, within South America, Colombia and Argentina dominate the spas and beauty salons market. Nicaragua and Panama within the region of Central America are predicted to lead the market for spas and beauty salons during the forecast horizon.
According to the report, the prominent spas and beauty salons in Central America, South America, and North America include Salon U, Muse Salon & Spa LLC, The Roose Parlour and Spa, Robert James Salon and Spa, Metropolis Salon & Dry Bar, Butterfly Studio Salon & Spa, John Barrett Salon, Chris Chase Salon, Metodo Rossano Ferretti Salon, Bradley & Diegel Salon, and Madeline Wade, among others.