South Korea Salon Services Market Size valued at USD 215.2 Billion in 2022. The South Korea Salon Services market industry is projected to grow from USD 232.8 Billion in 2023 to USD 437.4 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 8.20% during the forecast period (2023 - 2032).
The South Korea Salon Services Market Research Report provides in-depth research and insights into the market size, revenues, major categories, growth drivers, limiting factors, and regional industrial presence. The purpose of the market research study is to thoroughly investigate the Consumer and retail sector and gain a grasp of the business and its commercial potential. As a result, the customer obtains broad knowledge about the industry and business from the past, present, and future perspectives, allowing them to intelligently spend money and deploy resources.
In addition, this research study includes current assessments and estimates for all industrial categories and geographical locations. The South Korea Salon Services Market research report is the result of months of hard work by knowledgeable forecasters, imaginative analysts, and astute researchers. Using the specific and up-to-date information provided in this report, businesses can gain an understanding of the types of consumers, consumer demands and preferences, their perspectives on the product, their purchasing intentions, their response to a specific product that is already on the market, and their varying tastes about a specific product that is already on the market.
Key Companies in the South Korea Salon Services market include
Great Clips, Inc
Regis Corporation
Dessange International
Ulta Beauty, Inc
The Lounge Hair Salon
Seva Beauty
Drybar
Skin Rich
The Leading Salons of the World, LLC.
Snip-its
Lakme Salon
Beauty Connection Spa
Kao Corporation
Original Barbershop
SalonZen
Sally Beauty Holdings
COVID 19 Impact
The COVID-19 pandemic caused supply chain disruptions and financial uncertainty due to disruptions in manufacturing activities worldwide. The emphasis shifted to immediate concerns such as health and safety measures, workforce management, and financial stability. The COVID-19 outbreak disrupted global supply chains, affecting coffee machine availability and delivery. The closure of cafes and restaurants during the lockdown period reduced sales of commercial coffee machines. However, as more people stayed at home, demand for home coffee machines increased as consumers sought to replicate the café experience.
South Korea Salon Services Regional Insights
By region, the study gives market insights into the North America, Europe, Asia-Pacific and the Rest of the World. The North American South Korea Salon Services market area dominates the market because the growing popularity of massage & nail treatment facial-related services encourages international players to enter the North American market. Further, the region is often at the forefront of beauty and fashion trends, and the presence of a diverse population in this region, having a wide range of hair types, skin tones and beauty needs, is boosting the market growth.
Further, the prime countries studied in the market report are The US, Canada, Germany, France, the the UK, Italy, Spain, Japan, China, India, Australia, South Korea, and Brazil.
Research Objectives:
- Focuses on the key manufacturers, to define, pronounce and examine the value, sales volume, market share, market competition landscape, SWOT analysis, and development plans in the next few years.
- To share comprehensive information about the key factors influencing the growth of the market (opportunities, drivers, growth potential, industry-specific challenges and risks).
- To analyze the concerning individual future prospects, growth trends and their involvement to the total market.
- To analyze reasonable developments such as agreements, expansions new product launches, and acquisitions in the market.
- To deliberately profile the key players and systematically examine their growth strategies.
South Korea Salon Services Industry Developments
March 2023:SalonZen, a cloud-based salon management software company, acquired BookingSync, a booking platform for salons and spas. The acquisition will allow SalonZen to offer its clients a more comprehensive suite of services, including online booking, appointment reminders and customer management.
March 2023:Sally Beauty Holdings acquired Beauty Brands, a beauty supply retailer. The acquisition was seen as a way for Sally Beauty Holdings to expand its reach and compete with other beauty supply retailers, like Ulta Beauty and Sephora.
May 2023: The Mane Choice, a natural hair care brand, acquired Mielle Organics, another natural hair care brand. The acquisition will allow The Mane Choice to expand its product offering and reach a broader audience.
FIVE FORCES & PESTLE ANALYSIS:
In order to better understand market conditions five forces analysis is conducted that includes the Bargaining power of buyers, Bargaining power of suppliers, Threat of new entrants, Threat of substitutes, and Threat of rivalry.
• Political (Political policy and stability as well as trade, fiscal, and taxation policies)
• Economical (Interest rates, employment or unemployment rates, raw material costs, and foreign exchange rates)
• Social (Changing family demographics, education levels, cultural trends, attitude changes, and changes in lifestyles)
• Technological (Changes in digital or mobile technology, automation, research, and development)
• Legal (Employment legislation, consumer law, health, and safety, international as well as trade regulation and restrictions)
• Environmental (Climate, recycling procedures, carbon footprint, waste disposal, and sustainability)
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NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.
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