Spa Market - Industry Dynamics, Market Size, And Opportunity Forecast To 2030

Market Scenario

Global spa market is projected to generate a revenue pf US$ 185.5 Bn by 2030 from US$ 102.9 Bn in 2022 at a CAGR of 7.6% from 2023 to 2030. The market's growth is being driven by several factors, including the increasing trend towards health and wellness activities, the rise of lifestyle-related ailments, and the growing disposable income of middle-class families.

Asia Pacific has long been known for its emphasis on wellness and personal care services, and its luxurious hotels and resorts that cater to a rise in intra-Asian tourism have enabled robust economic growth across the region. Middle-class consumers in Asia are increasingly seeking spa treatments to combat the effects of their hectic urban lifestyles, with a growing demand for these services from male consumers.

However, the spread of diseases associated with spa services presents a challenge to the spa market’s growth. As chronic diseases continue to be a major public health problem worldwide, particularly in countries such as Nauru, Cook Island, and Niue, the spa industry must prioritize health and safety measures to ensure the well-being of their clients.

According to the World Health Organization (WHO), it is estimated that by 2030, chronic diseases will account for 70% of total global deaths. As a result, the spa industry must focus on providing safe and effective treatments to their clients, while also prioritizing education and prevention efforts to help reduce the incidence of lifestyle-related ailments.

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Key Report Findings 

After analyzing the global spa market, it is evident that customers have a wide range of options to choose from, making the market highly competitive. Luxury hotels offering exotic spa services have further impacted the market, with tariffs affecting the construction of such hotels. According to STR global hotel performance data, there was a 2.3% growth in demand in 2019, compared to a supply growth of 3.6%, leading to a decline in revenue.

One of the significant challenges is the spread of diseases and health risks associated with spa treatments. While oil massages and facial treatments can revitalize the body's muscles and provide relief from pain and stress, improper care and supervision can pose life-threatening risks. The global spa market is segmented by application, including hotel/hospitality, gym/fitness and spas, household, and others. Among these, the hospitality segment holds the highest share in the base year, accounting for 41.6% of the market, as spas are typically expansive, and luxury hotels offer spa treatments to their guests. These spas are very popular among international tourists who can enjoy exclusive spa treatments during their stay.

To remain competitive, players in the spa market need to focus on providing unique and high-quality services to their customers while ensuring their health and safety. Additionally, they must prioritize education and prevention efforts to address the spread of diseases and health risks associated with spa treatments. 

Segmental Analysis 

By Type

By type, the global spa market is categorized into Ayurvedic spa, bootcamp spa, day spa, destination spa, medical spa, mineral spring spa, mobile spa, thalassotherapy spa, and others. Bootcamp spar to generate over 32% revenue the global market by 2030. The global wellness industry has been rapidly expanding in recent years, and bootcamp spas have emerged as a major growth driver within the fitness and wellness sector. The increasing demand for these facilities can be attributed to several factors, including a growing focus on health and wellness, personalized fitness programs, a supportive environment, a range of spa and relaxation services, and the rise of fitness tourism.

Bootcamp spas offer a holistic approach to fitness and wellness, combining exercise, nutrition, and relaxation to help individuals achieve their health goals. They provide customized fitness programs that are tailored to the individual needs and goals of each client, allowing individuals to achieve their fitness goals in a safe and effective way.

Moreover, bootcamp spas in the global spa market provide a supportive and motivating environment where individuals can push themselves to reach their full potential. The group fitness classes and personal training sessions can help individuals stay on track and hold them accountable to their fitness goals. Additionally, bootcamp spas offer a range of spa and relaxation services, such as massage therapy, meditation classes, and sauna sessions, that can help individuals reduce stress, improve sleep, and enhance overall wellbeing. The rise of fitness tourism has also contributed to the growth of bootcamp spas, as more people are looking for unique and immersive fitness experiences while traveling. Bootcamp spas provide an opportunity for individuals to combine their love of travel with their passion for fitness and wellness, making them an attractive option for many consumers.

By Market Type

The global spa market is segmented based on the type of market, namely, new spas and renovation or replacement spas. New spas refer to the construction of brand-new spa facilities, while renovation or replacement spas refer to the renovation or replacement of existing spa facilities.

According to the report, the renovation or replacement spa segment accounted for the highest market share in 2022 and is expected to maintain its dominance over the forecast period. This means that more spa operators are opting to renovate or replace existing spa facilities rather than building new ones from scratch. This trend can be attributed to several factors, including the high costs of building new spas, the availability of existing properties suitable for conversion into spas, and the need to keep up with changing consumer preferences and demands.

Renovating or replacing existing spas can be a more cost-effective solution for spa operators in the global spa market as it involves fewer construction costs and can be completed in a shorter amount of time than building a new spa facility. Additionally, renovating or replacing existing spas allows operators to modernize their facilities, add new amenities, and stay competitive in an ever-evolving market.

Furthermore, the renovation or replacement spa segment is expected to continue to grow due to the increasing demand for wellness and spa services worldwide. As more people prioritize self-care and stress management, the demand for high-quality spa experiences is likely to increase, making renovation or replacement of existing spas a more attractive option for operators looking to meet this growing demand. 

By Application

By application, the global spa market is segmented into Hotel/ Hospitality, Gym/ Fitness and Spas, Household, and Others. Wherein, the hotel/hospitality segment is projected to attain a 42% valuation of the market by 2030. This segment is expected to dominate the market due to the increasing demand for luxury spa services from hotel guests and travelers seeking relaxation and rejuvenation during their stay. Additionally, hotels and resorts are investing in high-end spa facilities as a way to differentiate themselves from competitors and attract more customers.

However, it is worth noting that the gym/fitness and spa segment is also expected to experience significant growth in the coming years, as consumers increasingly prioritize health and wellness. This segment includes spas located within fitness centers and gyms, as well as standalone spa facilities that cater to health-conscious individuals.

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Regional Analysis 

Europe is one of the leading regions in the global spa market, with a significant revenue share of approximately 33% in 2022. This is due to the region's long-standing spa culture and the presence of several renowned spa destinations. Some of the most popular spa destinations in Europe include France, Italy, Spain, and Germany. France, in particular, is a major player in the global spa industry, with a diverse range of spa facilities and wellness programs. According to data from the French Spa Association, the country's spa industry generated over €2 billion in revenue in 2021, with an estimated 1,800 spa centers operating across the country.

Italy is another major spa destination in Europe, with a rich history of thermal baths and spa culture dating back to ancient times. The country is home to over 1,200 thermal springs and boasts a wide range of spa facilities, from luxury spas in major cities to rustic retreats in the countryside.

Spain is also a significant player in the European spa market, with a wide range of spa destinations catering to different budgets and preferences. According to the Spanish Association of Spa and Wellness, the country's spa industry generated approximately €1.6 billion in revenue in 2021, with over 4,000 spa centers operating across the country. Germany is another important spa destination in Europe, with a thriving spa industry that includes a wide range of facilities, from high-end wellness resorts to traditional thermal baths. According to data from the German Wellness Association, the country's spa and wellness industry generated over €4.5 billion in revenue in 2021, with approximately 30 million spa visits recorded that year.

List of Key Companies Profiled:

• 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
• Hyatt Hotels Corporation
• Other Prominent Players

The report presents a comprehensive profiling of several prominent players in the global spa market. The detailed company profiles cover essential information, such as business overview, key officials, strategic outlook, product description, financial analysis, segmental overview, and geographical presence.

With this profiling, readers can gain valuable insights into each company's operations, strategies, and offerings. This information can help them make informed decisions and stay ahead of their competitors in the market.

 Segmental Overview 

The segmentation of the global spa market is divided into four segments:

The segmentation of global spa market is divided into four segments:

By Type

• Ayurvedic Spa
• Bootcamp Spa
• Day Spa
• Destination Spa
• Medical Spa
• Mineral Spring Spa
• Mobile Spa
• Thalassotherapy Spa
• Others

By Application 

• Hotel/ Hospitality
• Gym/ Fitness and Spas
• Household
• Other

By Market Type

• New
• Renovation/Replacement

By Region 

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • The UK
  • Germany
  • France
  • Italy
  • Spain
  • Poland
  • Russia
• Asia Pacific
  • China
  • Taiwan
  • India
  • Japan
  • Australia & New Zealand
  • ASEAN
  • Rest of Asia Pacific
• Middle East & Africa (MEA)
  • UAE
  • Saudi Arabia
  • South Africa
  • Rest of MEA
• South America
  • Brazil
  • Argentina
  • Rest of South America