Global Spa Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast: 2019–2028
Global Spa Market: Overview
“The global Spa Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”
The spa includes a wide range of services and treatments that are mainly used for body relaxation and health management. The spa services include body scrub, steam baths, body massage, manicure, pedicure, facial, and others. The various types of spa services such as hotel and resorts spa, destination spa, medical spa, mineral or thermal springs spa, and other spa therapies easily available across the globe.
Global Spa Market: Dynamics
Expanding the wellness tourism industry across the globe and increasing number of wellness and health-conscious consumers in developed and developing countries are key factors projected to drive growth of the global spa market over the forecast period. In addition, the growing popularity of various types of spa services such as medical spa, hotel, and resorts spa, salon spa, and others among individuals is a major factor fueling growth of the global market.
An increasing number of health problems among individuals such as anxiety, stress, depression due to hectic lifestyle resulting in growing demand for spa services across the globe is another factor projected to boost growth of the global market during the forecast period. In addition, the rising disposable income of individuals, improving the standard of living of individuals and increasing healthcare cost across the globe are some other factors expected to propel growth of the target market.
Furthermore, increasing preference for several spa services such as body massage, body treatments, facial and others especially among female population and growing demand for Thai massage therapy among working women and men consumers due to their hectic lifestyle and high stress. These are some factors expected to fuel growth of the global spa market.
Moreover, increasing awareness about various benefits associated with spa such as manage stress, detoxifying the body, treating medical ailments, boosting the immune system, reducing weight, and others among individuals. This results in increasing demand for several spa services across the globe is another factor projected to proliferate growth of the global market in the upcoming years.
However, the high cost associated with several spa services is a key factor projected to restraint growth of the target market. In addition, the availability of homemade spa solutions at affordable prices is a challenging factor that may affect growth of the target market to a certain extent.
Global Spa Market: Segmental Analysis
Increasing adoption of day or club or salon spa services among individuals due to increased working population across the globe is the primary factor driving revenue growth of the day/club/salon spa segment among service type segment.
Global Spa Market: Region Analysis
The Europe spa market holds significant revenue share of the global market followed by North America market, owing to the high popularity of lomi lomi massage, ayurvedic massage, and Thai massage in countries such as France, Germany, UK, Canada, and the US in these regions. The market in the Asia Pacific is projected to witness significant growth in the global market, owing to expanding tourism industry and rapid adoption of hotel spa services in countries such as India, China, and Japan in this region.
The market in the Middle East & Africa and Latin America are projected to register moderate growth in terms of revenue, owing to the rising popularity of destination spa, mineral or thermal springs spa among individuals in many countries in these regions.
Global Spa Market Segmentation:
Segmentation by Service Type:
- Hotel and Resorts Spa
- Day/Club/Salon Spa
- Medical Spa
- Destination Spa
- Mineral/ Thermal Springs Spa
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Massage Envy Franchising, LLC
- Emirates Palace
- Six Senses Hotels Resorts Spas
- Four Seasons Hotels Limited
- Harrison Hot Springs Resort Inc.
- Planet Beach Franchising Corporation
- Marriott International, Inc.
- Rancho La Puerta Inc.
- Regis Hotels & Resorts, Inc.
- Gesundheitszentrum Lanserhof Kurhotel Gesellschaft M.B.H.
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