‘Full market recovery’ predicted for the professional beauty industry following 2020 challenges

A report from Kline Group has revealed how the professional beauty industry fared in 2020, concluding that the year marked the boldest moves towards digitalisation yet.

Both the professional nail and haircare markets saw steep declines in sales due to coronavirus lockdowns, with skincare the only market to experience growth.

Professional nail & haircare markets

In terms of professional nailcare, gels became the leading category in the market due to a softer decline in sales.

With consumers prioritising self-care during lockdown, traditional nail polishes gained popularity and some nail brands offered at-home care kits.

The report also states that social activism and conversations around inclusion affected the professional nailcare market, with brands increasing their shade ranges.

The professional haircare market saw similar consumer trends focusing on self-care and DIY while salons were closed. The report also adds that professional haircare brands with an existing digital presence adopted affiliate programmes in an effort to help stylists.

Future market predictions

According to the report, the professional beauty market is expected to rebound, with a compound annual growth rate (CAGR) of over six percent by 2025. Salons are expected to return to normal activity levels.

Kline also concludes that digital initiatives will continue to dominate the industry, clean beauty will stay as a popular trend with consumers, and marketers will increase their presence in brick-and-mortar retailers.

www.klinegroup.com