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Wellness & Beauty Services: Comprehensive Market Analysis

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Global Beauty & Wellness Industry

The beauty and wellness industry (part of theconsumer services market)is driven in large part by demographics,with aging populations seekingpersonal careand anti-aging products,which represent 25% of the overall market.Cosmetic surgery products promising improved aesthetics and more youthful appearance represent a rapidly growing business.Injectables are the fastest-growing market segment in the US cosmetic surgery market,reports Global Industry Analysts.Non-surgical cosmetics demand in the EU is particularly strong due to minimal side effects and recovery time,and their non-invasive nature.

Laser technology innovation has boosted demand for procedures such as laser liposuction.The UK represents the largest and most rapidly growing cosmetic surgery marked in the EU.The cosmetic surgery market encompasses injectables (like Botulinum Toxin Type A),implants,equipment and non-surgical procedures like laser hair removal and chemical peels.

MarketLine predicts the world facial care market will increase by over 22% to reach more than $61 billion in 2015.The facial care market expanded 5% in 2010 to exceed a volume of 7,060 million units.It is predicted to reach almost 8,730 million units in 2015,representing a 24% increase over five years.L'Oreal is the best performing company in the market,with a near 14% share.The industry also includes softer services such ashammams and spas,as well as,,tanning salons.

Regional Markets

China's cosmetics and toiletry market (including thebusiness of beauty salons) is second only to Japan in the Asia-Pacific region,and is the third-largest worldwide,reports RNCOS.Market penetration is low in relation to the consumer base,which means this region represents huge potential.The market is predicted to record a yearly rate of growth of more than 12% through 2014.Skin care represents the largest segment in the market.Recent years have seen this segment and others in the Chinese market – including color cosmetics,hair care,and fragrances – record double-digit growth.International companies like L'Oreal lead the market.

India's cosmetic surgery market has been recording strong growth on the back of medical tourism,economic growth and increasing disposable income.Demand for invasive and non-invasive surgical procedures continues to grow.Koncept Analytics notes that India's growing wedding market is also driving demand for cosmetic surgery,with arranged marriages bringing physical appearance to the fore.

Medical laser devices,cosmetic surgery and facial aesthetics products represent a market worth $730 million in China and India,reports iData Research.The market is expected to surpass $1.2 billion by 2017,with dermal filler continuing to record the highest segment growth.Mentor and Allergan are two leading companies operating in the market.

The US facial care market was worth $5 billion in 2010,according to MarketLine,having recorded yearly growth of close to 3.5% between 2006 and 2010.Anti-aging products alone generate sales of $2.5 billion,representing more than half the market.Expansion is predicted to slow to a yearly rate of just over 2.5% between 2010 and 2015,to exceed $5.5 billion.Other popular products in the market segment include gels,creams,facemasks and toners.

Global Industry Analysts predict the US cosmetic procedures market will exceed $17.5 billion by 2015,with cosmetic surgery products reaching almost $2.7 billion in the same period.The EU cosmetic procedures market is expected to exceed $2.5 billion by 2015,driven by wider social acceptance of cosmetic surgery,workplace competition,aging demographics and reality and weight-loss television programs.

The EUcosmetic surgery,medical laser device and facial aesthetics marketexceeded $840 million in 2010,according to iData Research.The market is expected to reach almost $1.7 billion by 2017.

Russia'sfitness services marketis around two to three decades behind that of the West in terms of development.In terms of growth,however,Russia leads the dominant fitness regions,reports IndexBox.There are over 2,000 fitness clubs in Russia,with around 35% in Moscow.The capital has around 3% fitness market penetration,compared with between 5% and 15% in most large capital cities in the world.Prior to the economic crisis,in 2008,Russia's fitness services market recorded around 20% year-on-year growth.

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Parent industry: Consumer Services
Related industries: Household Services,, Caring Services,, Pet Care,, Funeral Services

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