Must-Know Salon Industry Statistics [Latest Report]

Welcome to our blog post on salon industry statistics. In this post, we will be exploring the current trends in the salon industry and how they are impacting the industry as a whole. We will be looking at the size of the industry, the types of services that are popular, and the financial performance of the industry.

We will also be discussing the impact of technology on the industry and how it is changing the way salons do business. Finally, we will be looking at the future of the industry and what trends we can expect to see in the coming years. So, let's dive in and take a look at the salon industry statistics.

Salon Industry Statistics Overview

The global salon services market experienced a 21.25% decline in 2020 due to the COVID-19 pandemic, but is projected to grow from $215.65 billion in 2022 to $355.45 billion by 2029.

Despite the pandemic, the global salon services market is expected to grow in the coming years. This growth is likely due to the relaxation of social distancing restrictions, which have had a significant impact on the industry.

The US Salon Industry is expected to decline by -3.8% in 2023, with an average decline of 2.4% per year between 2018 and 2023.

This highlights the competitive nature of the salon industry and the low barriers to entry, which can make it difficult for salons to remain profitable.

9.2% of hair stylists are men, 90% are women, the average age is 40, 12% are LGBT, and the most common ethnicity is White (59.7%), followed by Hispanic or Latino (16.2%), Black or African American (1.6%), and Asian (7.6%).

35-54 year olds are the largest segment of the personal care market, accounting for 48.4% of the industry's revenue and spending an average of $96.00 more than the typical US consumer.

Thus, the majority of revenue is coming from consumers in this age range, meaning that salons should focus their marketing efforts on this demographic in order to maximize their profits.

The Hair Salons industry in the US has seen an average increase of 0.4% in the number of employees between 2018 and 2023, with 1,352,562 people employed in the industry as of 2023.

The number of hairdresser, hairstylist and cosmetologist positions is expected to increase 9% between 2018 and 2028, despite a 84% decrease in jobs due to the coronavirus between February and April 2020.

By 2023, 12.7% of total revenue in the Beauty & Personal Care market will be generated through online sales.

Online sales are becoming increasingly important in the Beauty & Personal Care market, and salons should consider investing in online sales strategies in order to remain competitive.

India's beauty and personal care market is valued at one trillion Indian rupees in 2020 and is ranked fourth globally for generating the highest revenue in 2021.

It shows the potential for growth in the industry due to changing lifestyles and growing awareness. It also indicates that the salon industry in India could benefit from increased investment and attention in order to capitalize on the growing demand for beauty and personal care products.

Purchasing an already operational salon will cost between $40,000-$250,000, while a brand new salon will cost between $100,000-$500,000. There is a gender pay gap between male and female hairstylists, with salons accounting for 95% of revenue in the hair industry.

This gives an overview of the costs associated with purchasing a salon, as well as the gender pay gap between male and female hairstylists. Additionally, it provides insight into the revenue sources of the hair industry, with salons accounting for the majority of income.

The Hair Salons industry experienced a 3.8% decline in 2023, with revenue declining at a CAGR of 2.4% over the past five years.

The average cost of equipment for a salon is around $27,000, which is important to understand in order to support local salons during the Covid-19 pandemic.

The global haircare market size is expected to increase from $69 billion USD in 2016 to $87 billion USD in 2023.

The haircare and beauty industry is growing, which means that there is potential for salons to benefit from this growth. This could be through increased demand for services or increased sales of products.

In 2019, 1.7 million people were employed as hairdressers and beauticians in the EU, representing 0.9% of total employment, with Cyprus having the highest share of 2.3%.

The European cosmetics industry was valued at over $123 billion in 2019.

Nail salons have seen a 29.4% increase in unit growth since 2017, making it the third-best performing sector in the hair and beauty industry.

The beauty industry is projected to grow significantly by 2023, and this piece provides organized, assessed, and classified statistics to help beauty enthusiasts understand the state of the industry.

Keeping up with hair salon industry trends is essential to staying competitive and keeping customers satisfied.

Understanding the trends and styles that are popular can help a business stay ahead of the competition and ensure that customers are satisfied with the services they receive. Knowing the top industry trends can give a business an edge and help them remain successful.

It is important for salon owners to be aware of the current trends in the industry in order to remain competitive and attract new customers. Knowing the latest trends can help salon owners create an attractive and inviting atmosphere that will keep customers coming back.

The Salon Industry is a $47 billion industry in the US alone, showing the potential for growth and revenue.

Supplementary Statistics

The global beauty salon industry is worth $128.59 billion as of 2020.

It is a clear indication of the industry's immense potential and the vast opportunities it presents to entrepreneurs and investors alike. It also serves as a reminder of the importance of the industry in the global economy, and the need to ensure its continued growth and success.

Hair care makes up about 86% of total industry revenue in beauty salons.

This highlights the fact that hair care services are the primary source of revenue for beauty salons, and that the industry relies heavily on these services to stay afloat. This statistic is essential for anyone looking to gain a better understanding of the salon industry and its financials.

The average annual revenue per hair salon in the United States is $245,000.

This provides a benchmark for salon owners to measure their own performance against, and can be used to inform decisions about pricing, marketing, and other aspects of running a successful business. Additionally, it can be used to compare the performance of salons in different regions, and to identify potential areas of growth.

There are over 86,000 beauty salons in the United States (2021).

It speaks to the immense popularity of beauty salons and the sheer number of businesses that have been established to meet the needs of customers. It is a powerful indicator of the economic impact of the beauty salon industry and the potential for growth in the future.

Salon industry revenue in the US is expected to surpass $47 billion in 2021.

The industry is growing and is expected to reach new heights in 2021. This is an important indicator of the industry's success and can be used to inform decisions about investments, marketing strategies, and other business operations. It is also a great way to demonstrate the importance of the salon industry to potential customers and investors.

Salon and spa businesses are estimated to have a 4.6% annual growth rate from 2021 to 2026.

Thus, the industry is on an upward trajectory, with a steady growth rate that could provide a lucrative opportunity for entrepreneurs and investors. This information is invaluable for anyone looking to break into the salon and spa industry, as it provides a realistic expectation of the potential returns they could expect to see.

63.2% of salon business owners started their profession as hairstylists, cosmetologists, or estheticians.

The majority of salon business owners have a background in the profession, which speaks to the importance of having a strong foundation in the industry before taking the leap into business ownership.

There are more than 1.8 million individuals working in the salon industry in the United States (2021).

The salon industry is a major contributor to the US economy, employing over 1.8 million individuals and providing a wide range of services to customers. This statistic is a powerful reminder of the importance of the salon industry and its impact on the lives of many.

The average salon owner in the US with 1-4 employees earns an annual salary of $49,000.

The average salon owner in the US with 1-4 employees earns an annual salary of $49,000, which is a relatively modest amount. This information is important to consider when discussing the salon industry, as it provides insight into the financial stability of the industry and the potential for success for those who enter it.

40% of salon clients prefer to book their appointments online.

A significant portion of salon clients prefer the convenience of booking their appointments online, which means salons should prioritize offering this service to their customers.

The average salon visit for women costs around $45.

Women are often willing to spend on salon services, which can be used to gauge the overall demand for salon services. Additionally, it can be used to inform pricing strategies for salon owners, helping them to maximize their profits.

64% of salon customers are female, while 36% are male.

In 2022, it is predicted that there will be more than 218,000 hairdressers, hairstylists, and cosmetologists in the United States.

The demand for hairdressers, hairstylists, and cosmetologists is on the rise, and the industry is growing. This is great news for salon owners, as it means that they can expect to see more customers in the coming years. It also shows that the industry is becoming increasingly competitive, which means that salon owners must stay on top of the latest trends and technologies in order to stay ahead of the competition.

The average salon unit area size has dropped from 1,500 square feet to 1,100 square feet in the past decade (2010-2020).

This could be a sign of a more competitive market, as salons are forced to downsize in order to remain profitable. It could also be a sign of a trend towards more specialized services, as salons are able to focus on a smaller range of services in a smaller space. Whatever the cause, this statistic is an important indicator of the changing landscape of the salon industry.

The average customer retention rate for the salon industry is around 29%.

It is an important metric to consider when evaluating the overall health of the industry, as it can provide insight into customer satisfaction and loyalty. Additionally, this statistic can be used to compare the performance of different salons and identify areas for improvement. Ultimately, this statistic is a valuable tool for understanding the current state of the salon industry.

About 70% of salon-goers in the US reported being loyal to their hairstylist or salon.

This is a positive sign for the industry, as it suggests that customers are willing to return to the same salon for their hair care needs. Furthermore, it highlights the importance of providing quality services and building strong relationships with customers in order to ensure their loyalty.

As of 2020, the U.S. has roughly 1,980 registered cosmetology programs.

With nearly 2,000 registered cosmetology programs, it is clear that the industry is thriving and that there is a high demand for skilled professionals. This statistic is a testament to the fact that the salon industry is an integral part of the U.S. economy and is here to stay.

The men's grooming market in the US is expected to reach $26 billion by 2022.

Hair coloring services make up around 21% of salon service sales in the United States.

This demonstrates that a significant portion of salon service sales are generated from hair coloring services, highlighting the importance of this service to the industry.

Conclusion

The salon industry is a thriving one, with a wide variety of services and products available to customers. The industry is expected to continue to grow, with the global market for salon services estimated to reach $196.3 billion by 2025.

The industry is also becoming increasingly competitive, with more salons offering a wider range of services and products. As the industry continues to evolve, it is important for salon owners to stay up-to-date on the latest trends and statistics in order to remain competitive and successful.

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