Despite the undeniable problems caused by the global coronavirus pandemic, the business climate in the beauty industry segment looks promising, according to some recent economic studies.
The growth of market shares portends stability worldwide, as globally businesses had to find flexible and adaptive opportunities to "emerge" over the past year.
Expected problems for businesses working with reservations such as centers and salons for hairdressing, cosmetics, manicure, piercing and tattoo studios, solariums, gyms, wellness and beauty centers, medical practices have caused a variety of reactions on the threshold of 2021. However, statistics data from recent years give rise to an expected increase in demand for aesthetic procedures.
The global picture of supply and demand for aesthetic procedures showed a significant growth of 5.4% between 2017 and 2018. With 12,659,147 non-invasive cosmetic therapies worldwide in 2018 alone. How much will Covid-19 affect market growth in the next few years remains in the realm of assumptions, but current data show an upward trend rather than the expected stagnation.
A breath of fresh air for business
Some of the positive trends concern some of the fastest growing markets - Europe and the United States. The trend imposed by the United States in recent years shows an increasing market share of aesthetic procedures for men. This allows the segment to develop in a relatively unexpected direction, aimed at a until recently conservative market. According to forecasts, the demand for a variety of aesthetic procedures on site in specialized sites will reach a turnover of over $ 50 billion by 2027.
Growth trends in the segment of aesthetic procedures
Indicative data has recently leaked from several global market studies, such as those of GVResearch and Market Watch, which have given perspective on the hot topic of what we can expect in the market for aesthetic procedures in the coming years.
Globally, analysts predict growth of about 10% in the market for aesthetic procedures for the next 7 years (2021-2028). Turnover is expected to increase to $ 125 billion by the end of the GVR study. Market Watch also predicts similar trends in business climate analysis worldwide.
According to the latest forecasts quoted in these market studies, the expected revenue from aesthetic procedures for 2021 worldwide will be up to 64.6 billion dollars.
What do these data and forecasts show?
Experts say that this is a good sign and the trends for the beauty segment are rather good against the background of the general economic situation.
In short, analysts expect a small but steady increase in turnover by the end of the study period. And while these studies typically refer to sales data from leading companies offering consumables, machinery and equipment in the Americas, Europe and Asia, these data help us navigate the overall business climate, which includes small businesses providing the ultimate service. of the client.
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