May 25, 2024

The Growing Focus on Improving Brand Image is Driving the Image Consulting Market

 

Image consulting plays a pivotal role in helping individuals and companies develop impactful visual identities and build brands. Image consultants work with clients to assess their personal branding and develop custom strategies that incorporate elements like appearance, style, wardrobe, visual marketing, and nonverbal communication. The services help optimize a client’s image depending on their industry, role, and professional goals. From executives to politicians to celebrities, professional image consulting has become important for crafting memorable and consistent personas.

The global Image Consulting Market is estimated to be valued at US$ 3.92 Bn in 2024 and is expected to exhibit a CAGR of 7.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
One of the major trends driving the image consulting market is the growing demand from industries like fashion, entertainment, media, and politics that rely heavily on building distinct public images. Image consultants are playing an increasingly important role for celebrities, models, and prominent public figures in managing their personas across different platforms and events. Additionally, with the rapid digitization of workspaces, virtual image consulting is emerging as a new opportunity area as professionals seek advice on virtual meeting etiquette, video communications best practices, and leveraging online platforms effectively for their personal brands. Image consultants are developing specialized expertise and tools to address these evolving digital image needs.

Porter’s Analysis
Threat of new entrants: Low. There are high costs associated with establishing an image consulting business such as training courses and certifications required. Brand reputation also plays an important role.

Bargaining power of buyers: Medium-High. Buyers have a variety of image consulting firms to choose from and can negotiate on pricing and services provided. However, consulting for high-profile clients carries more expense and customization.

Bargaining power of suppliers: Low. Image consultants have different expertise and areas of specialization. There are no major substitutes for the core services provided.

Threat of new substitutes: Low. While technology is enabling do-it-yourself image assessments, personal consultation and expertise is valued, especially for business clients and public figures.

Competitive rivalry: Medium. The industry features many solo practitioners and small firms. Competition is based on credentials, experience, personalized services and positive reputation.

Key Takeaways
The global image consulting market is expected to witness high growth over the forecast period of 2023 to 2030.

Regional analysis: North America captures over 35% of the global market share led by the United States. Growth opportunities remain high in the Asia Pacific region particularly in China, India and other Southeast Asian countries experiencing rapid economic development.

Key players: Key players operating in the image consulting market are Image Consulting Business Institute, Wardrobe Therapist, Frankie Wallace & Associates, Envision Image Consulting and David Zyla. Players compete based on industry experience and customized packages for different client profile types.

*Note:

  1. Source: Coherent Market Insights, Public sources, Desk research
  2. We have leveraged AI tools to mine information and compile it