Hair & Nail Salons in the US - Industry Market Research Report

Nailing it: Continued growth in household income will fuel revenue growth

The Hair and Nail Salons industry offers haircuts, facials, makeup application services, hair modification treatments, as well as deluxe spa manicures and pedicures. Demand for these services mirrors broader economic performance since economic growth boosts consumer spending on personal care products and services. New products and services have favorably contributed to industry revenue growth in recent years. However, COVID-19 caused revenue for Hair and Nail Salons industry to plunge in 2020. Although hair and nail salons have since reopened, hair and nail salon revenue has shrunk at a five-year CAGR of 2.3% to $67.4 billion through the end of 2023, including a 0.9% decline in 2023 alone. The Hair and Nail Salons industry comprises salons that offer hair and nail care services. In addition to retailing beauty products, these companies may also provide facials and makeup applications. However, hair and nail salons do not include those that mostly offer training in barbering or hairstyling, nor does it include electrolysis, permanent makeup application or tanning services. This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.