A report published by Global Industry Analysts expects the global aesthetic services market to hit $23.3 billion by 2026.
A new market study published by Global Industry Analysts estimates that the global market for aesthetic services will hit $23.3 billion by 2026.
The report, Aesthetic Services – Global Market Trajectory & Analytics, presents perspectives on opportunities and challenges in a significantly transformed post-COVID-19 marketplace.
The report covers a broad swath of aesthetic services and procedures improving the appearance of individuals through cosmetic treatments. These services include the treatment of scars, skin pigmentation correction, wrinkles, acne, moles, excessive fat, unwanted hair, psoriasis, eczema, and skin discoloration, among others.
In 2022 the global aesthetics market is estimated to be $18.1 billion. It is projected to reach $23.3 billion by 2026, growing at a compound annual growth rate (CAGR) of 6.2% over the analysis period.
The aesthetic services market in the U.S. is estimated to be $6.4 billion in 2022. China is forecast to reach a projected market size of $2.2 billion by 2026, trailing a CAGR of 8.4% over the analysis period.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.7% and 5.7% over the analysis period. Within Europe, Germany is forecast to grow by approximately 5%.
The growth is attributed to an increased desire to retain a youthful appearance coupled with growing wealth and rising pressure to maintain physical appearance in a social media-dominated world.
Aging populations have also significantly increased the demand for anti-aging services and a growing acceptance of cosmetic procedures in many cultures has normalized its use for everyone from young teens to older adults.
The full report is available online.