Spas and beauty salons constitute one of the most important customer service industries around the world. In the Americas, during the early days of industrial development, this market represented a small share in the economy and had limited operations. However, with growing demand from customers to enhance their personal appearances and lifestyle, this market grew significantly in the last few years. In 2013, the Americas spas and beauty salons market was worth US$85.1 bn and is anticipated to reach US$138.2 bn by the end of 2020. The market is expected to register a 7.2% CAGR between 2014 and 2020.
Most of the spas and beauty salons have extended their services to include advanced skin treatments to deal with dark spots, acne, and wrinkles. In skin care services, spas provide feet, hair, and hand therapies according to the requirements of customers. The increasing demand for spas and beauty salon services have further encouraged employment opportunities in salons and spas across America.
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Geographically, the spas and beauty salons market in the Americas can be divided into North America, South America, and Central America. The growth prospects of this market in the different regions of the Americas is discussed below:
North America spas and beauty salons market: In 2013, North America accounted for the largest market share in the Americas market for spas and beauty salons and it is anticipated that it will remain in its dominant position in the next few years. The rapid growth in this region is due to the increased consumer expenditure in order to achieve a high aesthetic appeal, which has boosted the demand for top-notch spas and beauty salons services. At present, the U.S. market for spas and beauty salons leads the North America market. Nevertheless, the rising awareness for leading a healthy lifestyle is a major factor driving the Mexico market for spas and beauty salons.
South America spas and beauty salons market: The South America market is expected to witness steady growth in the coming years. Among other regions, Colombia and Argentina are the two leading market across the South America spas and beauty salons market. The growing demand in this region can be attributed to the changing lifestyle of consumers and concerns over individual appearances.
Central America spas and beauty salons market: In Central America, Panama and Nicaragua are the two dominant regions in the spas and beauty salons market. These regions are expected to exhibit high growth in the coming years owing to the rising demand for beauty services in this region. Moreover, the beauty enhancements and health benefits related with these services have been regarded by customers as being extremely important in terms of professional success, which has indirectly fueled the growth of this market.
The prominent players operating in the Americas market for spas and beauty salons are Butterfly Studio Salon and Spa, Salon U, Muse Salon and Spa LLC, Robert James Salon and Spa, John Barrett Salon, Metropolis Salon and Dry Bar, Chris Chase Salon, and The Roose Parlour and Spa. Spas and beauty salons in this region are introducing innovative techniques and therapies to cater to the growing requirements of customers.