Mobile Barber Shop Market Size to Grow by USD 1.11 Bn, 45% of Market Growth to Originate from APAC – Technavio – PR Newswire

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Oct 24, 2022, 11:45 ET
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NEW YORK, Oct. 24, 2022 /PRNewswire/ — The mobile barber shop market size is expected to grow by USD 1.11 billion from 2021 to 2026. In addition, the growth momentum of the market will accelerate at a CAGR of 11.06% during the forecast period, according to Technavio. The market has been segmented by service (haircut and styling service and others) and geography (APAC, North America, Europe, South America, and the Middle East and Africa).
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By geography, APAC is expected to lead the mobile barber shop market during the forecast period and will account for 45% of the market’s growth. This growth is attributed to factors such as growing fashion consciousness, rising awareness about the benefits of premium and organic personal care products, growing urbanization, and expanding millennial population base in the region. Moreover, market growth in this region will be faster than the growth of the market in other regions. China and Japan are the key countries for the mobile barber shop market in APAC.
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By service, the haircut and styling segment will be a significant contributor to market growth during the forecast period. The high demand for hair styling is attributed to factors such as the increasing use of organic hair styling products, the rising number of grooming and styling trends, and the introduction of several new types of hair colorants and styling products. Such factors will contribute to the growth of the segment during the forecast period.
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The growing adoption of home salon services is driving the mobile barber shop market growth. Personalized home barber services are gaining popularity in regions such as North America, Europe, and APAC. The number of app-based barber service providers, which provide at-home grooming services, has increased over the last few years. Several service providers offer hair grooming packages, such as monthly grooming packages, to increase the frequency of services. Therefore, such services are expected to propel the growth of the market during the forecast period.
The rising trend of hair coloring is a trend in the market. Organic and synthetic hair colors are becoming popular in the market. The use of organic elements in hair coloring products has several advantages, which is attracting many customers. There is a high demand for hair colors made from vegan and organic materials. The rising popularity of various hairstyles and hair colors has also increased the demand for hair styling and hair coloring. Hence, the trend of hair coloring is expected to support the growth of the market during the forecast period.
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Mobile Barber Shop Market Scope
Report Coverage
Details
Page number
120
Base year
2021
Forecast period
2022-2026
Growth momentum & CAGR
Accelerate at a CAGR of 11.06%
Market growth 2022-2026
USD 1.11 billion
Market structure
Concentrated
YoY growth (%)
10.36
Regional analysis
APAC, North America, Europe, South America, and the Middle East and Africa
Performing market contribution
APAC at 45%
Key consumer countries
US, China, Japan, Germany, and Brazil
Competitive landscape
Leading companies, competitive strategies, consumer engagement scope
Key companies profiled
Decarate LLC, Dribbble Holdings Ltd., Groupon Inc., Mks Milagro Salon, Nextdoor Holding Inc., Trim IT services Ltd., and Yelp Inc.
Market dynamics
Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period.
Customization purview
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Browse Consumer Discretionary Market Reports
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Service
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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Technavio Research
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Email: [email protected]
Website: www.technavio.com/
SOURCE Technavio
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