Dublin, Jan. 27, 2021 (GLOBE NEWSWIRE) -- The "Personal Services Global Market Report 2021: COVID-19 Impact and Recovery to 2030" report has been added to ResearchAndMarkets.com's offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the global personal services market as it emerges from the COVID-19 shut down.
The global personal services market is expected to grow from $982. 66 billion in 2020 to $1057. 18 billion in 2021 at a compound annual growth rate (CAGR) of 7. 6%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $1411. 2 billion in 2025 at a CAGR of 7%.
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Where is the largest and fastest growing market for personal services? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The Personal Services market global report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider personal services market, and compares it with other markets.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, the impact of the COVID-19 virus and forecasting its recovery.
- Market segmentations break down market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the impact and recovery trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
- The personal services market section of the report gives context. It compares the personal services market with other segments of the services market by size and growth, historic and forecast. It analyses GDP proportion, expenditure per capita, personal services indicators comparison.
Asia Pacific was the largest region in the global personal services market, accounting for 38% of the market in 2020. North America was the second largest region accounting for 29% of the global personal services market. Africa was the smallest region in the global personal services market.
Personal care service companies such as beauty salons, spas are increasingly marketing their services through online platforms. These websites or applications allow customers to book appointments with beauticians who provide services such as haircut, styling, makeup, massage and others at the customer's premise. For instance, Lisa, an online platform offers haircuts, massage, manicures and others at home upon making prior booking. Other such online personal care service platforms include Glamsquad, Urbanclap, Luxit and Glamazon.
Coronavirus Pandemic - The outbreak of Coronavirus disease (COVID-19) has acted as a massive restraint on the personal services market in 2020 as the need for services offered by these establishments declined due to lockdowns imposed by governments globally. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People's Republic of China and spread globally including Western Europe, North America and Asia. Steps by national governments to contain the transmission have resulted in a decline in economic activity with countries entering a state of 'lock down' and the outbreak is expected to continue to have a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the personal services market will recover from the shock across the forecast period as it is a 'black swan' event and not related to ongoing or fundamental weaknesses in the market or the global economy.
Faster Economic Growth - The personal services market's growth is expected to be aided by stable economic growth forecast in many developed and developing countries. The International Monetary Fund (IMF) predicts that the global real GDP growth will be 3. 7% over 2019 and 2020, and 3. 6% from 2021 to 2023. Recovering commodity prices, after a significant decline in the historic period is further expected to aid the market growth. Developed economies are also expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than the developed markets in the forecast period. For instance, India's GDP is expected to grow at 7. 3%, whereas China is forecasted to register GDP growth of 6. 2% in 2019. Stable economic growth is expected to increase disposable incomes, driving the demand for personal services.
Key Topics Covered:
1. Executive Summary
2. Report Structure
3. Personal Services Market Characteristics
3.1. Market Definition
3.2. Key Segmentations
4. Personal Services Market Product Analysis
4.1. Leading Products/ Services
4.2. Key Features and Differentiators
4.3. Development Products
5. Personal Services Market Supply Chain
5.1. Supply Chain
5.2. Distribution
5.3. End Customers
6. Personal Services Market Customer Information
6.1. Customer Preferences
6.2. End Use Market Size and Growth
7. Personal Services Market Trends and Strategies
8. Impact of COVID-19 on Personal Services
9. Personal Services Market Size and Growth
9.1. Market Size
9.2. Historic Market Growth, Value ($ Billion)
9.2.1. Drivers of the Market
9.2.2. Restraints on the Market
9.3. Forecast Market Growth, Value ($ Billion)
9.3.1. Drivers of the Market
9.3.2. Restraints on the Market
10. Personal Services Market Regional Analysis
10.1. Global Personal Services Market, 2020, by Region, Value ($ Billion)
10.2. Global Personal Services Market, 2015-2020, 2020-2025F, 2030F, Historic and Forecast, by Region
10.3. Global Personal Services Market, Growth and Market Share Comparison, by Region
11. Personal Services Market Segmentation
12. Personal Services Market Segments
12.1. Global Personal Care Services Market, Segmentation by Type
12.2. Global Death Care Services Market, Segmentation by Type
12.3. Global Dry-Cleaning and Laundry Services Market, Segmentation by Type
12.4. Global Other Personal Services Market, Segmentation by Type
12.5. Global Private Household Services Market, Segmentation by Type
13. Personal Services Market Metrics
13.1. Personal Services Market Size, Percentage of GDP, 2015-2025, Global
13.2. Per Capita Average Personal Services Market Expenditure, 2015-2025, Global
14. Asia-Pacific Personal Services Market
15. Western Europe Personal Services Market
16. Eastern Europe Personal Services Market
17. North America Personal Services Market
18. South America Personal Services Market
19. Middle East Personal Services Market
20. Africa Personal Services Market
21. Personal Services Market Competitive Landscape
21.1. Competitive Market Overview
21.2. Market Shares
21.3. Company Profiles
21.3.1. Services Corporation International
21.3.1.1. Company Overview
21.3.1.2. Products and Services
21.3.1.3. Strategy
21.3.1.4. Financial Performance
21.3.2. Sears Holdings
21.3.2.1. Company Overview
21.3.2.2. Products and Services
21.3.2.3. Strategy
21.3.2.4. Financial Performance
21.3.3. Best Buy
21.3.3.1. Company Overview
21.3.3.2. Products and Services
21.3.3.3. Strategy
21.3.3.4. Financial Performance
21.3.4. Regis Corporation
21.3.4.1. Company Overview
21.3.4.2. Products and Services
21.3.4.3. Strategy
21.3.4.4. Financial Performance
21.3.5. Weight Watchers International Inc
21.3.5.1. Company Overview
21.3.5.2. Products and Services
21.3.5.3. Strategy
21.3.5.4. Financial Performance
22. Key Mergers and Acquisitions in the Personal Services Market
23. Market Background: Services Market
23.1. Services Market Characteristics
23.2. Services Market Historic and Forecast, 2015-2020, 2020-2025F, 2030F, Growth, by Segment, Value ($ Billion), Global
23.3. Global Services Market, 2020, by Region, Value ($ Billion)
23.4. Global Services Market, 2015-2020, 2020-2025F, 2030F, Historic and Forecast, by Region
23.5. Global Services Market, 2015-2020, 2020-2025F, 2030F, Segmentation by Type, Value ($ Billion)
24. Recommendations
24.1. Global Personal Services Market in 2025- Growth Countries
24.2. Global Personal Services Market in 2025- Growth Segments
24.3. Global Personal Services Market in 2025- Growth Strategies
25. Appendix
25.1. NAICS Definitions of Industry Covered in This Report
25.2. Abbreviations
25.3. Currencies
25.4. Research Inquiries
25.5. About the Publisher
26. Copyright and Disclaimer
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