From 2013 to 2023, sales in the hair-dressing and beauty salon industry in Japan showed volatility. Initially starting at 1.756 trillion yen in 2013, the sales witnessed a significant decline in the succeeding years, hitting a low of 1.5073 trillion yen in 2020 due to the pandemic. However, there was a recovery in 2021 going forward, peaking at 1.8358 trillion yen in 2023. The year-on-year variations were notably negative during the mid-decade with a sharp drop in 2020, followed by a substantial recovery. The Compound Annual Growth Rate (CAGR) over the last 5 years of actual data stood at a modest 0.37%.
For the future, forecasted data from 2024 to 2028 indicates a steady but slow growth with a projected CAGR of 0.30%, ultimately reaching 1.8641 trillion yen by 2028, reflecting a 1.51% growth rate over these years. The industry is expected to stabilize with modest increments, suggesting a return to a more traditional growth pattern post-pandemic.
Future trends to watch for in the hair-dressing and beauty salon industry in Japan include the potential impact of technological advancements, such as AI and automation, increasing demand for personalized beauty services, market consolidation, and the growing influence of aging demographics on service preferences.
