Indian Beauty
Salon and Spa Industry: Trends & Opportunities (2015-2020)
The beauty services
consumption in India has been increasing exponentially since last couple of
years. Consumers are becoming more aspiration driven which has led to evolution
of concept of grooming and beauty for both male and female segment in order to
enhance their appearances. The spa segment which is a new entrant to the beauty
and wellness industry has well integrated itself. Consumers are ready to pay a
premium to pamper themselves with the spa services.
Rising affluence of middleclass segment has upgraded their consumption lifestyle and increased their willingness to buy beauty products and services. Beauty and spa service providers have started expanding to Tier II and Tier III cities as these markets provide similar potential as their metro counterparts. Operational costs for service providers are also lower in these comparatively smaller towns. Service providers have also started exploring new venues for rejuvenation like airports and hotels. These spas offer 15 or 30-minute dry foot massage, shoulder and back massage, etc. Burgeoning wellness tourism which is supported by Ministry of Tourism has also boosted the industry.
The beauty services and spa industry of India has been witnessing increased number of international players. The market which was earlier women centric has started concentrating on male grooming and is coming up with large numbers of unisex salons. Existing players in the market are adopting franchisee route for expansion. The growth showcased by the industry has also caught the interest of private-equity and venture-capital investors who are funding expansion plans of businesses in the segment.
The beauty salon and spa industry like any other industry faces certain challenges. Some of these challenges that are plaguing growth potential are lack of skilled manpower, organized training institutes, increased operational costs, etc. These challenges have been discussed in detail in the report and analyst recommendations have also been included.
The report gives an in-depth analysis of the Indian beauty salon and spa industry. It also assesses the key opportunities in the industry and analyzes the external macroeconomic condition for effective working of business by using PEST analysis. It discusses current and expected growth drivers for the industry in the forecasted period (2015-20). Further, key players of the industry have been profiled and growth of the industry has been predicted taking into consideration the previous growth patterns, the growth drivers and the current and future trends.
Rising affluence of middleclass segment has upgraded their consumption lifestyle and increased their willingness to buy beauty products and services. Beauty and spa service providers have started expanding to Tier II and Tier III cities as these markets provide similar potential as their metro counterparts. Operational costs for service providers are also lower in these comparatively smaller towns. Service providers have also started exploring new venues for rejuvenation like airports and hotels. These spas offer 15 or 30-minute dry foot massage, shoulder and back massage, etc. Burgeoning wellness tourism which is supported by Ministry of Tourism has also boosted the industry.
The beauty services and spa industry of India has been witnessing increased number of international players. The market which was earlier women centric has started concentrating on male grooming and is coming up with large numbers of unisex salons. Existing players in the market are adopting franchisee route for expansion. The growth showcased by the industry has also caught the interest of private-equity and venture-capital investors who are funding expansion plans of businesses in the segment.
The beauty salon and spa industry like any other industry faces certain challenges. Some of these challenges that are plaguing growth potential are lack of skilled manpower, organized training institutes, increased operational costs, etc. These challenges have been discussed in detail in the report and analyst recommendations have also been included.
The report gives an in-depth analysis of the Indian beauty salon and spa industry. It also assesses the key opportunities in the industry and analyzes the external macroeconomic condition for effective working of business by using PEST analysis. It discusses current and expected growth drivers for the industry in the forecasted period (2015-20). Further, key players of the industry have been profiled and growth of the industry has been predicted taking into consideration the previous growth patterns, the growth drivers and the current and future trends.
