Market Overview

The aesthetic salon market size for FY2023 is projected to have grown to 313,900 million yen, 99.2% of the previous fiscal year (based on the sales at businesses), showing decline for four consecutive years.

In view of the aesthetic salon market by category, the market of aesthetic treatment for women (as a total of facial care, body care/slimming, hair removal, and others) has been stagnant at 198.4 billion yen (98.6% of the preceding fiscal year), while the aesthetic treatment for men has attained 16.2 billion yen (102.5%) and commodity sales has yielded 99.3 billion yen (100.1%). Speaking of the men's aesthetics market size, please note that we re-estimated the value of the market as we newly compiled data of several men’s depilation salons. The men’s aesthetic treatment market has grown by double-digits between FY2020 and FY2022.

Noteworthy Topics

Growth of Men’s Aesthetic Treatment Market

The men's aesthetic treatment market is projected to reach 16.2 billion yen in FY2023 (102.5% of that of the previous fiscal year).

This is an encouraging news, amidst a challenging situation of overall aesthetic salon market. As men are becoming increasingly image-conscious about their body shape and skin condition, due to lifestyles changes brought about by the COVID-19 crisis such as the rise of video conferencing, the demand for facial treatment and slimming are expected to grow steadily in addition to that for hair removal. Moreover, young men with keen interest in beauty and have gender neutral mindsets are using salons. Young　male is likely to become a new customer layer of the industry.

Future Outlook

The size of the aesthetic salon market is expected to be worth 313.3 billion yen for FY2024, 99.8% of the previous fiscal year.

The COVID-19 pandemic had both positive and negative effects on the aesthetic salon industry. On a positive side, male clients increased. Until the crisis, customer segment in men had been much smaller than in women, limited to wealthy men that are conscious about their looks. The pandemic brough about the new customer segments, who are middle-aged or older men ‘awakened’ to the need for grooming (as they increasingly see themselves on online meetings) and young men referred to as " poster boy for beauty" that are particularly meticulous about their appearance. Another factor that augmented the market growth was the aesthetic hair removal, which has been growing steadily since 2020, despite pre-assumption that the demand was higher for medical epilation.

Meanwhile, the men’s aesthetics market is a small market at the size of only around 16 billion yen. While we have high expectations for the future expansion, sound management and stable growth is needed to avoid treading the same path as women's hair removal salons, which withdrew from the market. It is imperative for the industry to seize the opportunity.

Research Outline