The Spa Market delves into various aspects, enabling readers to gain a deep understanding of the market dynamics, trends, and potential opportunities.
The global spa market is expected to grow at a CAGR of 12.9% during the forecast period 2021-2027. Rise in business operations of hotels & restaurants, coupled with the growing tourism activities, are some factors that are projected to lead the market growth in the forthcoming period. Moreover, the increasing chaotic life of individuals drives the growth more in urban areas, which leads to the preference for spas across the globe.
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As the government enforced strict social distancing norms along with lockdowns is creating a downfall in the market. This resulted in a considerable weakening in the market demand due to decreasing number of visits in the sector. In addition, market vendors also enduring this downfall and the government norms of the gradual opening of services lead to set spa market on the track again.
The spa can be defined as the establishment of a commercial place that offers services for body relaxation and health management. The basic services presented by the spa comprises an extensive variety of therapeutic treatments such as body treatments and scrubs, manicure & pedicure, massage, sauna baths, and facial. Massages aids in preventing ankle injuries, balancing blood pressure as well as reducing headaches. These services are generally delivered by the mineral or thermal spa, hotels and resort spa, destination spa, day spa, and medical spa. Spas serve services medical ailments, weight management, anti-aging, boost the immune system, and detoxifying the body of an individual.
Growth Drivers
The spa industry is currently the fastest-growing part of the hospitality and leisure sector. From some past years, there have been vigorous growth spots in spa resorts and luxury hotel spa due to the rising customer demand, and the availability of spa facilities is important in the hospitality industry. Many spa services mainly focused on offering improved services to their customers whose need for self-actualization has grown, and stress level management is tied with their net worth reflects rapid development in the industry.
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Thus, the stress management requirement contributes to the market demand for spas, which strengthens the trend for spas in developed and emerging economies. In addition, the hectic and chaotic lifestyles of people coupled with the growing disposable incomes are accounting for the positive outlook of the market worldwide.
Moreover, the spa market is further developing with the surge in the number of spas worldwide. There were approximately 149,000 spas accounted for in 2017, up from 121,595 spas operating in 2015 as per the Global Wellness Institute. Owing to such reasons, market has grown as a noteworthy development in the spa and wellness sector, so it leads to increasing the global market demand. As a result, the mounting utilization of spa facilities in the sector is the factor that fuels the growth of the industry over the forecast period.
Report Segmentation
By Type
Hotel/Resorts Spa
Destination Spa
Day/Salon Spa
Medical Spa
Mineral Spring Spa
Others
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By Service
Massage
Beauty/Grooming
Physical Fitness
Others
By End-Use
Male
Female
Segmentation based on Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Western Europe
- The UK
- Germany
- France
- Italy
- Spain
- Rest of Western Europe
- Eastern Europe
- Poland
- Russia
- Rest of Eastern Europe
- Western Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- ASEAN
- Rest of Asia Pacific
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- Middle East & Africa (MEA)
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Brazil
- Argentina
- Rest of South America
Besides, Europe is likely to record the highest growth rate in the global market over the upcoming scenario from 2021 to 2028. The market demand for the spa is expected to increase due to the growing popularity of massages among the ordinary population in the region. Countries like United Kingdom, France, Italy, and Germany are more inclined towards various massages such as LomiLomi massage, Thai massage, and ayurvedic massage may spur the market growth. Moreover, several spa vendors in Europe that present a diverse variety of facilities and services for promoting a healthy lifestyle are gaining noteworthy eminence across the region.
Competitive Insight
Some of the major players operating the global market include Massage Envy, Planet Beach, Mandarin Oriental Hotel Group, Emirates Palace Spa, Rancho La Puerta, Hot Springs Resort & Spa, Four Seasons Hotel Limited, Omni Hotels & Resorts, Lanserhof and Jade Mountain.
Table of Content
Chapter 1: Global Spa Industry Overview
Chapter 3: Market Dynamics
Chapter 4: Top Company Profiles
Chapter 5: Global Spa market Competition, by Players
Chapter 6: Global Market Size by Regions
Chapter 7: Global Market Segment by Application
Chapter 8: Global Spa Industry Segment by Type
Chapter 9: Market Chain, Sourcing Strategy, and Downstream Buyers
Chapter 10: Strategies and key policies by Distributors/Suppliers/Traders
Chapter 11: Key Marketing Strategy Analysis, by Market Vendors
Chapter 12: Market Effect Factors Analysis
Chapter 13: Global Spa market Size Forecast (2023-2031).
Continue….
Reasons to Buy This Report
(A) The research provides valuable insights for top administration, policymakers, professionals, product advancements, sales managers, and stakeholders in the market. It helps them make informed decisions and strategize effectively.
(B) The report offers comprehensive analysis of Spa market revenues on a global, regional, and country level, projecting trends until 2031. This data allows companies to assess their market share, identify growth opportunities, and explore new markets.
(C) The research includes segmentation of the Spa market based on types, applications, technologies, and end-uses. This segmentation enables leaders to plan their products and allocate resources based on the expected growth rates of each segment.
(D) Analysis of the Spa market benefits investors by providing insights into market scope, position, key drivers, challenges, restraints, expansion opportunities, and potential threats. This information helps them make informed investment decisions.
(E) The report offers a detailed analysis of competitors, their key strategies, and market positioning. This knowledge allows businesses to better understand the competition and plan their own strategies accordingly.
(F) The study helps evaluate Spa business predictions by region, key countries, and top companies, providing valuable information for investment planning and decision-making.
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