1.1 Definition and scope of the study
Beauty institutes, whether independent or under a brand name, aim to provide aesthetic services such as facial and body beauty treatments, massages, depilations, manicures, pedicures or make-up. Thus, it is possible to distinguish three segments of activity of beauty salons: classic technical procedures (manicure, pedicure, depilation), wellness procedures and finally the sale of care products related to these activities.
The main customers beauty salons are still today women and male customers focus on two types of offers: massages and facials. Women, on the other hand, are spread over all segments of the services offered by beauty salons, with a majority of women between 25 and 44 years of age for regular visits (mainly hair removal) and a majority of seniors for anti-ageing care.
Globally, the beauty institute market is expected to grow strongly at a CAGR of 3.59% in the years to come, amid a higher priority given to personal care but also due to higher spending power among consumers. The Western World's consumers are primarily driving this demand.
In Belgium, the market is saturated. However, it has been growing rapidly (+18%) in the last couple of years, owing to an increase in the interest for cosmetics. In particular, vegan and "Made in Belgium" products have increased in popularity, and thus have become more prevalent inside beauty salons.
Finally, in recent years, there has been a expansion of the range of offers offered in beauty salons and particularly the increasing complexity of certain hair removal methods (e. g. pulsed light) or skin treatment methods (e. g. cryolipolysis). Indeed, these acts at the border between aesthetic medicine and the beauty institute do not have a strict regulation of their practice, which allows beauticians to practice them, but also to lower prices.
1.2 The global market is growing
Global market for beauty salons and spas World, ****-*****, in $US billion Source: ****
The global market for beauty salons and spas is expected to register strong growth going forward; between **** and ****, the market is set to expand at a CAGR of *.**% to reach $US ***.* billion.
Several reasons contribute to this growth, ...
1.3 Domestic market
The cosmetics sector had a turnover of more than €*.* billion in ****, steadily increasing with a consumption of €***/inhabitant. [***]
Below, the revenue of the cosmetics sector is depicted.
Revenue cosmetics sector Belgium, **** & **** & ****, in € million Source: ****
In ****, the revenue of the sector was €*** million. In ****, it was €*** million, an increase of some **.*%.
1.4 COVID-19's impact on the beauty institute market
COVID-**'s impact on Belgium is disastrous. According to Johns Hopkins, the leading North American institution on the research on the Corona virus, Belgium as of December **th had the highest mortality rate in the world, with *,*** deaths per million inhabitants.
The economic consequences are detrimental for many players in this ...
2.1 Economic analysis: Belgian households
The beauty institute market in Belgium is dependant on several aspects, one of them being the spending power of the population. This follows the logic that more spending power results in a higher attendance with beauty instutes, as consumers' affordability increases.
With this in mind, below we look at some macroeconomic ...
2.2 Belgians & cosmetics
In the last section we looked at data which drives consumption for Belgian households. Here, we analyse the relationship between these same households and the world of cosmetics.
What percentage are you willing to pay extra for local cosmetics, beauty and hygiene products? Belgium, ****, in % Source: ****
In ****, the spending degree of ...
3.1 Market Overview
According to Eurostat, *.*% of the total labour force in Belgium were hairdressers or beauticians. In ****, there were around *.** million people working. [***] In other words, around **,*** people worked in this sector. Of these, a large number is included in the beauty salons.
According to data.be there are around *,*** companies registered under ...
3.2 Distribution analysis
Proportion of shoppers that bought cosmetics, skincare, and/or hair care products online Europe, ****, in % Source: ****
In ****, Belgium had one of Europe's lowest share of cosmetic goods being sold online. Only **% of shoppers bought such goods online.
This is favourable for the beauty salon industry, based on the implicit assumption that ...
3.3 Cosmetics related stores
Leading drugstores and perfumeries, by number of stores Belgium, ****, in number of stores Source: ****
The data above provides an insight on which type of cosmetics are most sought after by Belgians, based on which stores have the highest number of units.
Kruidvat was the leading brand in January **** with *** stores. Here, ...
4.1 Service overview
In general, services offered by beauty salons are distinguished between facials, body care, hair removal for women, hair removal for men and finally the beauty. There are also institutes specialized in hair removal or manicure.
Beauty institutes offer several services within each category, including the following:
Facial care: duration is on ...
4.2 Price Analysis
The price proposed for the same service by the institutes varies significantly depending on the duration of the treatment, but also between institutes.
In addition, the customers' subscription system also varies rates; they are higher (***) for non-subscribed customers. Below we list a price overview based on a sample of prices from ...
5.1 Current Regulation
Belgium is part of the European Union and thus is subject to EU directives and regulations. Several regulations apply for beauty institutes.
For example, Regulation (***) N° ****/**** on cosmetic products is the main regulatory framework for finished cosmetic products when placed on the EU market. It strengthens the safety of cosmetic products ...
- Yves Rocher
- Pierre Fabre
- Louis Widmer Belgium
- Insituut Daphnys
- Institut Cinyhia
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