Cosmetology & Beauty Schools in the US - Industry Market Research Report

Dolled up: Increased disposable income will support industry revenue growth

Over the five years to 2023, revenue growth has fluctuated year-to-year, largely contributable to the adverse effects of the COVID-19 pandemic and fluctuating enrollment rates in vocational programs. Following the onset of the pandemic, the industry was quickly disrupted by reduced enrollment, school closures and stay-at-home-measures. Enrollment fell throughout 2020, a combination of overall economic uncertainty, as well particular uncertainty regarding the cosmetology industry, leading to a severe drop in industry revenue. Recovery from the pandemic spurred spending on personal care services as consumers released pent-up demand, though falling disposable income quickly stifled a rebound in enrollment. Because of the difficulties recovering from the pandemic, industry-wide revenue has been falling at an a CAGR of 1.6% over the past five years and is expected to total $1.8 billion in 2023, when revenue will climb by an estimated 1.1%. This industry includes schools that offer training in barbering, hair styling or cosmetic arts, such as makeup or skin care. These schools provide job-specific certification. 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.