The global Spa market size is expected to be worth around US$ 217.9 Bn by 2030, according to a new report by Vision Research Reports.
The global Spa market size was valued at US$ 57.5 billion in 2020 and is anticipated to grow at a CAGR of 22.1% during forecast period 2021 to 2030.
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Unhealthy lifestyles have increased the need for stress management, mental clarity, and system detoxification. The growing need to maintain a physically and mentally healthy lifestyle is expected to drive the market. Moreover, rising disposable incomes, changing lifestyles, and an increasing population are expected to propel market growth.
The coronavirus (COVID-19) pandemic had a significant impact on the industry, as businesses were forced to close or enforce stringent hygiene requirements and regulations for their workers and visitors. In a March 2020 survey of the spa industry professionals worldwide, 31.0% predicted that the number of spa visits decreased by more than 70.0% during the pandemic compared to the same period the previous year.
The ability to avoid unwanted interaction can lead to set new standards for the hotel industry. Sanitizers are the new tabletop focus and all staff members are expected to wear face masks and gloves. Hotel owners and asset managers are planning new SOPs and safety measures during the hotel closure and ensuring transparency and direct contact with guests.
The hotel/resorts spa segment dominated the market and held the largest revenue share of 47.4% in 2020 owing to the rising wellness tourism around the world. Based on type, the market is categorized into hotel/resort spa, destination spa, day/salon spa, medical spa, mineral spring spa, and others.
On the other hand, the destination spa segment is likely to witness the fastest growth over the forecast period due to growing demand for traditional spas such as Swedish, Ayurveda, and Turkish massage. The majority of people visit destination spas for week-long programs to -start their fitness or work on a particular problem.
In 2020, Asia Pacific dominated the spa market and accounted for the largest revenue share of 38.0%. Rising disposable income and the expansion of the tourism industry, especially in developing countries such as India and China, is a key factor that is expected to drive the market over the forecast period. Emerging economies in this region, including Japan, India, and China are exhibiting strong economic growth. The flourishing hospitality industry and the growing popularity of traditional spas such as Thai massage and Ayurveda in the region would continue to drive the market.
|Market Size||US$ 217.9 Bn by 2030|
|Growth Rate||CAGR of 22.1% From 2021 to 2030|
|Forecast Year||2021 to 2030|
|Segments Covered||Service Type, Region|
|Companies Mentioned||Planet Beach; Hot Springs Resort and Spa; Four Seasons Hotel Limited; Massage Envy; Lanserhof; Jade Mountain; Rancho La Puerta; Mandarin Oriental Hotel Group; Omni Hotels & Resorts; Emirates Palace Spa|
- Planet Beach
- Hot Springs Resort & Spa
- Four Seasons Hotel Limited
- Massage Envy
- Jade Mountain
- Rancho La Puerta
- Mandarin Oriental Hotel Group
- Omni Hotels & Resorts
- Emirates Palace Spa
- Service Type Outlook
- Hotel/Resorts Spa
- Destination Spa
- Day/Salon Spa
- Medical Spa
- Mineral Spring Spa
- Regional Outlook
- North America
- Asia Pacific
- Central & South America
- Middle East & Africa
- South Africa
- North America
The study objectives of this report are:
- To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
- Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
- To define, describe and forecast the market by type, application and region.
- To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
- To identify significant trends and factors driving or inhibiting the market growth.
- To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
- To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
- To strategically profile the key players and comprehensively analyze their growth strategies.
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