Market size of beauty salons in the U.S. 2017-2023

The market size of beauty salons (hair, skin, nails) in the United States decreased considerably in 2020 and has yet to recover completely. In 2020, the market size of hair, skin, and nail salons in the U.S. dropped to 58.5 billion U.S. dollars due to the closure of businesses during the coronavirus pandemic. In 2023, it reached a value of 69 billion U.S. dollars.

How big is the U.S. beauty industry?

Since the onset of the twentieth century, the American beauty industry has grown significantly. In terms of revenue, this industry generated nearly 50 billion U.S. dollars in 2022, up from the 40 billion U.S. dollars of revenue generated in 2002. An extension of the beauty industry is prestige beauty, which includes products that are priced higher than typical drugstore cosmetics products. Recently, the prestige beauty industry in the U.S. generated over 20 billion U.S. dollars in the sale of products sold mainly in U.S. department stores.

What is Ulta Beauty?

An American chain of beauty stores headquartered in Illinois, Ulta Beauty is a leading beauty retailer of cosmetics, fragrances, and hair and skin care products in the United States. Ulta’s success is largely due to their wide variety of products, as well as effectively catering to many income demographics. In 2022, Ulta Beauty’s gross profit reached over four billion U.S. dollars.