The cosmetics and beauty industry has also noted a rise in employment.
According to HTF Market Intelligence, the global cosmetology liability insurance market is projected to reach a compound annual growth rate (CAGR) of 5% from 2024 to 2030, with significant demand for specialised insurance policies to cover emerging and niche procedures in the cosmetology field.
As the industry expands, with more professionals entering the market and offering diverse services (e.g., microblading and laser treatments), there is a growing need for liability insurance to protect against risks.
The rise in freelance cosmetologists and beauty practitioners has opened new opportunities for insurers to offer policies tailored for individuals and small-scale businesses.
The specialisation of cosmetology services (e.g., advanced skincare, laser treatments) is pushing demand for insurance that covers high-risk, niche procedures.
However, challenges such as high costs, especially for small or newly established cosmetologists, could potentially limit market adoption.
Many beauty professionals, especially those new to the field, may not fully understand the importance or availability of liability insurance, resulting in lower penetration in the market.
