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The global spa market was valued at US$ 95 Bn in 2021 and is anticipated to record a revenue of US$ 185.5 Bn by 2030. The market is projected to expand at an increasing rate of 7.6% over the forecast period of 2022 to 2030. The growth of the global spa market is influenced by several growth factors such as a rising shift towards health & wellness activities, an increase in lifestyle-related ailments, and growing disposable income among middle-class families. Asian countries have always been the heart and soul of wellness and personal care services. Their sprawling luxury hotels and resorts that cater to a rise in intra-Asian tourism, both local and international, have enabled robust economic growth across the region’s economies. These middle-class consumers are increasingly seeking spa treatments as a panacea for their hectic, urban lifestyles. Strikingly there is a growing demand for spa services from male consumers is also observed across the region. However, the spread of diseases associated with spas becomes an obstacle for the market.
Today, chronic diseases are a major public health problem worldwide, especially in Nauru, Cook Island, and Niue. According to World Health Organization (WHO), it is estimated that by 2030, the proportion of total global deaths due to chronic diseases is expected to increase to 70%.
The report on the global spa market provides a comprehensive study of the market across 16 chapters, totaling 200 pages, with an extensive 51 data tables, and 116 figures.
The research report provides a detailed analysis of the global spa market covering market drivers, opportunity growth, and trends of the market including challenges. The regions tracked in the global spa market include North America, Europe, Asia Pacific, Middle East & Africa, and South America. As per the analysis, Europe accounted to hold the highest market share in 2021 with 35.4%, as the top-six wellness tourism destination is in Europe. In addition, Germany, France, and Austria are some of the most preferred wellness tourist destinations among wellness enthusiasts. Furthermore, according to the Global Wellness Institute, Europe ranks #1 in the world for annual wellness trips: 292 million in 2017. However, Asia Pacific is projected to expand at an increasing rate of 8.3% in the global spa market over the forecast period of 2022 to 2030. Owing to the increasing tourism in Asian countries, according to the United Nations, World Tourism Organization Asia-Pacific travelers now represent 37% of the world’s total international travel spending on Wellness.
The study of the global spa market report provides an in-depth analysis of the market, covering market growth opportunity factors, PESTLE analysis, and porter’s five forces. The analysis shows that there is a highly competitive rivalry in the spa market as the customers have a variety of options available in the market. Further, as exotic spa services are offered by luxury hotels as well, the tariffs have affected the construction of luxury hotels. As per STR Global hotel performance data, there was a 2.3% growth in demand in comparison to supply growth of 3.6% in 2019, leading to declining in revenue.
The report also includes the challenges in the spa market such as the spread of diseases and other health risks associated with spa treatments. Oil massages and facials treatments help to revitalize body muscles and offer relief from pain and body stress. However, if these treatments are not done with proper care and supervision, they can prove to be life-threatening also.
The global spa market is segmented by application include, including hotel/hospitality, gym/fitness, spas, household, and others among these, the hospitality segment holds the highest share in the base year with 41.6% as spas are usually expansive and luxurious hotels offer spa treatments to their guest. They are very popular among international tourists who can enjoy exclusive spa treatments at their hotels.
The Covid-19 outbreak has adversely impacted the growth of the spa industry especially, in the year 2020 when the outbreak was at an all-time peak. People were home-bound, and the supply chain of various basic items was adversely affected. As most of the manufacturing units and industries were shut down, the spa industry faced an acute shortage of spa equipment. Due to fear of the spread of coronavirus especially at public places like spa centers, social health clubs, and fitness/Gym centers, people largely avoided the visit to these centers- a prominent factor that negatively impacted the growth of the spa industry.
Major Players in Global Spa Market
The report provides detailed profiling of several players in the global spa market.
Details covered in the company profiling include a business overview, key official, strategic outlook, product description, financial analysis, segmental overview, and geographical overview. The key players include Planet Beach, Hot Springs Resort & Spa, Bannatyne Spa, Marriott International, Massage Envy, Rancho La Puerta, Banyan Tree, Marilyn Monroe Spas, Miraval Resorts, Massage Green Spa, Siam Wellness Group, Four Fountains, The Ritz - Carlton Spa, Windsor Hotel, Lspas SPA, and Hyatt Hotels Corporation.
Based on market type, the segment is bifurcated into new spas and renovation or replacement, as per the study of the report renovation spas accounted to hold the highest market in 2021 and are expected to maintain their dominance over the forecast period. Spa renovation is a very crucial decision for any spa center. A renovation will cost a lot of money, take up a lot of your time, and probably force you to close the business for some time. It is often seen that Old hotels and fitness centers are renovating or restoring their infrastructure to meet the growing demand of their clients.
The segmentation of global spa market is divided into four segments:
By Market Type
|Market Size Value in 2021||US$ 95 Bn|
|Expected Revenue in 2030||US$ 185.5 Bn|
|Unit||Value (USD Bn)|
|Segments covered||By Type, Application, Market Type, and Region|
|Leading players||Planet Beach, Hot Springs Resort & Spa, Bannatyne Spa, Marriott International, Massage Envy, Rancho La Puerta, and other prominent players.|
|Customization Scope||Get your customized report as per your preference. Ask for customization|
The health benefits associated with spa services are relief from stress, minimization of body pain, and calmness of mind.
Ayurvedic spa, bootcamp spa, day spa, destination spa, medical spa and medical spa are the different types of spas.
The various applications of the spa are in hotel/hospitality, gym/fitness and spas, and households among others.
The Global Spa Market was valued at US$ 95 Bn in 2021.
The Global Spa Market is estimated to expand at a CAGR of 7.6% over the forecast period.
Increasing shift towards health & wellness activities and increase in lifestyle-related ailments are propelling the market growth.
The spread of diseases and other health risks associated with spa treatments is hindering the market growth.
Increasing disposable income among middle class families is presenting new and lucrative opportunities for market growth.
Bootcamp spa holds the highest share in the Global Spa Market in 2021.
Hotel/hospitality segment holds the highest share in the Global Spa Market in 2021.
Europe dominates the Global Spa Market.
The key players in the Global Spa Market are CRED International Co. Ltd., Windsor Hotel, Marriott International, Grand Hyatt, Siam Wellness Group, Lanserhof, and Hot Springs Resort & Spa among others.
Covid-19 pandemic negatively affected the global spa market as people largely avoided the visit to these centers due to the fear of coronavirus spread.