The Health, Wellness & Beauty Services Industry is also benefiting from an aging population, an emphasis on living a healthy lifestyle, and an increasingly favorable public perception of plastic and cosmetic surgery. A rise in per capita disposable income has helped contribute to all industry segments as well.
Health, Wellness & Beauty Services Overview:
- This industry consists of over 125,000 businesses that collectively made $61 billion in revenue and $8 billion in profit in 2016.
- Year-over-year revenue growth is expected to finish at 3% in 2017, and then drop off slightly to 2% for each of the subsequent years through 2021.
- The industry consists of three primary segments: (1) Plastic and Cosmetic Surgery, (2) Health and Wellness Spas and (3) Gym, Health and Fitness Clubs.
- In 2016, Injectables accounted for a whopping 57.7% of revenue in the Plastic and Cosmetic Surgery segment, Massage and Bodywork Treatments made up 35.6% of revenue in the Health and Wellness Spas segment and Membership Fees represented 68.1% of Gym, Health and Fitness Club revenue.
- Plastic and Cosmetic Surgery is the smallest, yet fasted-growing industry segment. It represented 21% of industry revenue in 2012, but is expected to reach 25% by 2021. Meanwhile, revenue for Gym, Health and Fitness Clubs is expected to drop from 51% of the industry to 48% over the same time span.
For a complete, detailed analysis, please access the full tear sheet.