Hair & Nail Salons in Canada - Industry Market Research Report

Hair & Nail Salons in Canada - Industry Market Research Report
Hair & Nail Salons in Canada

The Hair and Nail Salons industry in Canada has exhibited declining revenue over the five years to 2023, though it has grown in nearly every year of the reporting period besides 2020. The industry, which relies on the discretionary purchases of services like haircuts, hair tinting, hairstyling, manicures and pedicures, has benefited from rising consumer spending. Price premium services, include keratin treatments and gel manicures, have grown more popular in recent years. Despite this, industry revenue is estimated to fall at a CAGR of 2.6% to $4.7 billion over the five years to 2023. This decline can be mainly attributed to the COVID-19 pandemic and the forced closure of all nonessential businesses in 2020. In 2023, industry revenue is expected to increase 1.7%, largely due to increases in consumer confidence and per capita disposable income.

Operators in the Hair and Nail Salons industry in Canada primarily offer hair and nail care services. These companies may also provide facials and makeup applications. This industry does not include operators that primarily offer training in barbering or hairstyling, nor does it include electrolysis, permanent makeup or tanning services.

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.