Your transaction & personal information is safe and secure. to members including consumer snapshots/studies which provide insights into consumer attitudes and behaviors North America is expected to account for 40% of the global spa industry revenue share, The spa industry is expected to hold 30% market share throughout Asia, Prominent companies operating in this space include COMO Shambhala Estate, Grand Resort Bad Ragaz, Forte Village Resort, Canyon Ranch, Chiva Som International Health Resort, St. Regis Bahia Beach Resort, Four Seasons Resort Bora Bora, The Connaught, Th. In addition, people from the region have shown an increasing inclination towards rejuvenating treatments. What are the factors driving the spa market. Moreover, developing economies have witnessed a rise in number of working population, which exhibits high stress levels and unhealthy lifestyles. According to the Center for Disease Control & Prevention, 7.6% of the adults who fall in the age bracket of 18 years and above i.e., 18.4 million people in the U.S. have asthma. Demand for pain management will continue to contribute towards growth of the global spa market significantly. On the basis of product type, the hotel/resort spas segment is expected to generate significant revenues in the global spa market during the forecast period. Value chain analysis provides a clear understanding of the roles performed by various intermediaries involved in the value chain. Published Date: Feb 2022 | | Pages: Pages: 551, SIngle User License, Five User License & Enterprise User License. ISA member library features research studies covering various aspects of the industry, with reports available Destination spa has also gained considerable popularity owing to rise in demand for traditional spas such as Ayurveda, Swedish, and Turkish massage. Sedentary lifestyles, rapid urbanization, and working professionals' hectic schedules have increased therapeutic spas' preference to relieve anxiety and stress. Globally, the rising consumer interest in experiencing wellness services during vacation trips is driving the destination and leisure wellness businesses. Copyright 2022 Grand View Research, Inc. All rights reserved. The hotel/resort spa type is expected to hold the highest share for sales, expanding at over 40% market share. Increasing demand for rejuvenating and relaxing therapies to detoxify the system will continue to fuel demand for range of spa therapies. Discounted price for multiple reports across domains, 2. and member snapshot surveys which address topics such as retail sales, customer service, marketing strategies, Get more information on this report : Request Sample Pages. The global spa market size was valued at USD 47.5 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 12.1% from 2021 to 2028. The spa industry is focusing on offering treatments ranging from traditional treatments to modern treatments. Get detailed COVID-19 impact analysis on the Spa Services Market. What was the last 5 years market CAGR for spas? The region is anticipated to record high growth in revenue transactions owing to the rising number of working professionals and their increasing disposable incomes. For instance, Starwood Hotels has 65 spas in the area under construction, while Hilton Worldwide has 124 expected. Rising disposable incomes and inclination towards personal healthcare is surging the demand for spa treatments. state, county, metro area, or zip code level, with data provided including number of The Spa Market is growing at a CAGR of >4.1% over the next 5 years. social media usage, and employee training and retention. Biennial survey provides information on day spa retail operations and trends, with topics addressed Growth in inbound & outbound tourism for the purpose of wellness drives the growth of destination spa service market. The hotel/resorts spa segment dominated the market and held the largest revenue share of 37.4% in 2020 owing to the rising wellness tourism around the world. "Sorry! At what rate will the spa industry grow from 2021-2031? This is largely attributed to an increase in peoples disposable incomes and an improvement in the general living conditions. The global spa services market has witnessed constant innovations such as use of hybrid spa technology, which utilizes its gas generated hybrid system to keep the spa heated up. Major market players in the global spa service market include Emirates Palace, Four Seasons Hotel Limited, Trailhead Spa, Massage Envy Franchising LLC, Jade Mountain, Six Senses Hotels Resorts Spas, Clarins Group, Lanserh of Tegernsee, Belmond Maroma Resort & Spa and Gaia Retreat & Spa. See for yourself. Sample report can be viewed online. LAMEA is expected to register the highest CAGR during 2022-2031, with increased demand from developing countries and rise in expenditure on tourism. Sample report can be viewed free online. 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. DO YOU HAVE SPECIFIC REQUIREMENTS? activity and failure rates. 2022 Allied Market Research. Avail customized purchase options for your needs. operations, marketing strategies, retail sales, business growth and retention, employment Moreover, they are beneficial in managing stress, treating medical ailments, detoxifying the body, reducing weight, and boosting the immune system. How much is the Asian spa industry worth? Key Points Covered in Spa Industry Analysis, Spa Revenue Analysis 2016-2020 in Comparison to Future Outlook 2021-2031. Key drivers and restraints impacting market growth, Segment-wise, Country-wise, and Region-wise Analysis, Key Product Innovations and Regulatory Climate, COVID-19 Impact on Spa Market and How to Navigate, In March 2021, Zenoti Foundation, a cloud-based platform for spa, beauty & wellness services, partnered with Sutherland Global with the objective of improving customer experience via expansions in real-time support across both chat and phone-based channels and address queries within minutes. The report aims to provide a detailed analysis of the spa market. The large hotel companies have continued to add wellness-oriented brands into their portfolio over the past decade. The global spa services market is restrained by the lack of presence of skilled labor. Increasing population of both these countries is attracting spa industries. This strategic plan allows the company to improve the customer experience by expanding real-time service in both chat and phone-based platforms to address a large portion of customer support issues in minutes. The report segments the global spa services market on the basis of type, end user, and region. Moreover, changing lifestyles, rising disposable income, and increasing population are anticipated to drive the market over the forecast period. Per capita disposable income and consumer spending are both expected to grow over the five year period. Tiredness being a factor, people prefer to have services that help them rejuvenate and relax, in order to keep themselves fit and healthy. Similarly, the amount of anxiety among students during the COVID-19 outbreak was positively associated with hampered daily life. The study provides an in-depth analysis of the global spa services market to elucidate the imminent investment pockets in the market. The hotel/resorts spa segment held a majority of the market share in 2020 owing to the rising wellness tourism around the world. | Privacy | Terms, Market size and major product and service segments, Key industry statistics, trends, and financial ratios, Operating conditions and current performance, Income and expenses in dollars and percentages, Balance sheets in dollars and percentages, Profitability and return on investment ratios, Capital structure and debt service ratios. Over the next five years, the spa industry is expected to experience growth, resulting in revenues reaching $21 billion. Free upgrade to enterprise license (allows to share across all company locations), 5. Increasing importance for healthy lifestyle, surge in travel and tourism industry and inclination towards anti-ageing treatments are the key trends driving spa sales. Please wait while we are processing your request Spa Market Size, Share & Trends Analysis Report, 2021-2028. Besides aging baby boomers, the millennials are also plunging headfast into the spa industry, as they seek to opt for relaxing treatment options, given the prevalence of hectic lifestyles. Which Factors are Propelling Spa Services Adoption Globally? Planet Beach Franchising Corp., and The Woodhouse Day Spas Corp. manager, licensed massage therapist, esthetician, massage therapist, and salon receptionist, with employers We are GDPR and CCPA compliant! Owing to the growing demand for beauty enhancements among most customers, several spas offer various non-invasive cosmetic medical procedures, along with their usual spa treatments, to capture the growing demand trend. Asia Pacific is growing at the highest CAGR over 2021- 2026. Historically, between 2016 and 2020, the sales of the spa industry exceeded US$ 100 Bn by the end of the aforementioned period, expanding at a CAGR of nearly 6% according to Fact.MR- a market research & competitive intelligence provider. For instance, in 2017, Hyatt Hotels Corporation purchased two wellness brands, Exhale and Miraval Group, to incorporate their services into the Hyatt guest experience. In addition, rising health conditions in the region has pushed people to opt for spa treatments. 2022. For instance, in March 2021, Zenoti, a Cloud-based spa and salon software supplier announced a strategic partnership with Sutherland Global. The government initiatives and favorable regulatory environment are further boosting the market growth. Major players in the industry are focusing on introducing various packages in the spa segment. Free report customization (equivalent up to 8 analysts working days) with purchase. category over the past five years. Owing to rise in competition in the market, spa owners have started to invest into spa education such as on the job training programs of international standards for better service. They include but are not limited to massages, facials, body scrubs, steam baths, waxing, and nail care. Growing need for anti-ageing treatments for clogged pores, acne, wrinkles and hyper-pigmentation is further expected to impact growth of the global spa market. With increasing disposable incomes, customers prefer spending on luxurious services and relaxing therapies. The tourism, accommodation, and food and beverages service sectors, which performed well during 2019, have slowed down due to the lockdowns and the temporary ban on international travel and domestic travel restrictions across the world. Our sales representative will reach you shortly with the details. As regular massage was proven to improve the wellness of people, coupled with their affordability ranges, the market is gaining more popularity. A. Rapid growth in travel & tourism industry is expected to continue to generate significant revenueforthis segment. Some of the companies operating in the spa market are Planet Beach, Hot Springs Resort & Spa, Four Seasons Hotel Limited, Massage Envy, Lanserhof, Jade Mountain, Rancho La Puerta, Mandarin Oriental Hotel Group, Omni Hotels & Resorts, Emirates Palace Spa, among others. But the increasing interest towards the wellness tourism and increasing awareness of personal care due to which it is expected to have strong growth for spa services market in 2022. Start reading instantly ,This Report and over 13000+ more Reports, Available with Avenue Library, T&C*. Comprehensive industry research reports provide in-depth industry analysis and five-year forecasts. The report offers the market size and forecasts for the spa market in value (USD billion) for all the above segments. However, players are likely to find maximum growth opportunities in the premium and luxury sectors. A. Kindly raise an inquiry through the chat box and our business executive will get in touch with you with the details on the purchase options. Thus, need for stress management contributes to the demand for spa in these countries. Given this, many people now wanted to take wellness trips to renew their mental, spiritual, and physical wellbeing when the crisis is over. Resource library includes articles, fact sheets, research reports, and other publications which cover various https://dayspaassociation.com/ Premium and luxury spa packages are gaining traction among higher-income consumers. This website is secure and your personal details are safe. The majority of people visit destination spas for week-long programs to -start their fitness or work on a particular problem. Shortness of breath, coughing and wheezing are some of the common problems that asthmatic patients face regularly. in the report including market size and forecast by market segment (e.g., day, hotel/resort, medical, destination, However, the market growth is hindered by high cost of skilled therapy professionals and low penetration in the underdeveloped countries. Get insights on topics that are crucial for your business. Wellness tourism is expected to grow at much higher speed with respect to other tourism activities, which directly impacts the global spa industry. *Taxes/Fees, if applicable will be added during checkout. window.addEventListener('DOMContentLoaded', function() {$(function(){ $('a').each(function() { if ($(this).prop('href') == window.location.href) { $(this).parent().addClass('current'); } });});}); Download the spa business plan template (including a customizable financial model) to your computer here <. Please check with your bank for further details. Thus, North America is expected to hold over 40% market share across the 2021-2031 forecast period. Privacy Policy*, Suite 9884, 27 Upper Pembroke Street, Offering a wider range of services to appeal to well-seasoned spa-goers, spas have increasingly begun to diversify and branch into health and aesthetics, in order to complement their regular spa services, in addition to the formerly alternative health treatments, including acupuncture, following the global shift toward a more holistic approach to health and beauty. for treatment service providers, hourly rate paid to treatment service providers, commission rate on treatment Prominent service providers are emphasizing on introducing multiple spa packages oriented towards different consumer segments. It is owing to the reason that the men segment is dominating the market, men booking wellness holidays increased by 42%. aspects of the day spa industry, with topics covered in this section including industry trends, business How is Anti-Ageing Treatment Impacting Global Market Growth? Spas in the Asia Pacific region accounted for more than half of all spas constructed worldwide. The ability to avoid unwanted interaction can lead to set new standards for the hotel industry. We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports, as well as offer affordable discounts for start-ups & universities. All Rights Reserved to Mordor Intelligence. In 2020, Asia Pacific dominated the spa market and accounted for the largest revenue share of 28.0%. The health benefits associated with the spa services, such as relief from stress, minimization of body pain, and the calmness offered, have made spa services a major part of peoples lives. Our support available to help you 24 hours a day, five days a week. For this study, Grand View Research has segmented the global spa market report based on service type and region: Service Type Outlook (Revenue, USD Billion, 2016 - 2028), Regional Outlook (Revenue, USD Billion, 2016 - 2028). Which region held the largest spa market share? Which type of spa is expected to hold the highest share for sales? We are always looking to hire talented individuals with equal and extraordinary proportions of industry Constant improvement in the economic environment, surge in ageing population, and increase in disposable incomes are some of the key drivers of this market. Who are the key players in the spa market? Addition or alteration to country, regional & segment scope. Resource Library Privacy Policy. and displays, inventory turns per year, and average unit price, number of units sold, and retail sales amount Report. The tourism has never been before as it is now, the Coronavirus pandemic has put the brakes on tourism. Five-year financial statement analysis reports provide income statements, balance sheets, and key industry The global spa market size was valued at USD 47.5 billion in 2020 and is expected to reach USD 52.9 billion by 2028. b. Compensation trends survey provides an overview of compensation practices for businesses ranging from destination As a discretionary service, demand for spa services will continue to be strongly tied to trends in disposable income and consumer spending patterns. Your personal details are safe with us. Sub-Saharan Africa, North America, and Latin America-Caribbean) and for the top 20 spa markets. United States, by Fact.MR , a division of Eminent Research and Advisory Services. Based on type, the market is categorized into hotel/resort spa, destination spa, day/salon spa, medical spa, mineral spring spa, and others. per client visit. Thank you for your Purchase. From 2016 to 2020, the market for spas expanded at a CAGR of 6% as per historical data, The spa market is expected to reach nearly US$ 326 Bn by 2031. Body and foot reflexology and head and back massages have also proven to relieve pain or stress from a specific body part, thus, promoting healthy outcomes. Surge in demand for detoxification of system, stress management and therapies for chronic disorders is expected to propel growth of the global spa market significantly. The players have enhanced the operations and support services to build a better brand image. Please be sure to check your spam folder too. Unhealthy lifestyles have led to growing need for stress management, peace of mind and detoxification of the system. sales, sales per employee, staffing and employment trends, average employee wage, and business start up What are the prospects for the North American market? A comprehensive business intelligence repository that covers established as well as evolving market trends. Explore purchase options. Major support services include spa consulting, spa education, capital investments, and investments on exquisite &signature cuisines, which attract huge number of visitors. The customization is based on factors such as brands of products used, duration of service, and others. https://experienceispa.com/ Moreover, the huge populations in the region, especially in countries, such as China and India, and the growing working population and their hectic lifestyles are driving them toward ways to reduce the stress through various massages and other beauty spa services, which is expected to help the market to record more revenue transactions. The spa market is one of the large hit markets in 2020 due to the sudden COVID-19 pandemic. Rise in demand from emerging markets is expected to propel the demand for spa in future owing to rise in personal disposable income of the people. ", We use cookies for a better user experience, Spa Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027), Financial Services and Investment Intelligence. Such factors are expected to contribute towards growth of the global spa market during the forecast period. In addition, the market for online travel booking crunched suddenly in the early pandemic. As of 2020, the market for spa reached surpassed US$ 100 Bn according to Fact.MR. The report provides information regarding drivers, restraints, and opportunities with a detailed impact analysis. How is Pain Management Boosting Demand for Spa Therapies? In April 2021, EDITION Hotels announced its further international expansion by the end of 2022, with the slated opening of 8 new properties across three continents. Owing to coronavirus, there is no tourism and businesses at many places. North America holds highest share in 2021. Investments in various support services such as restaurants, lounges, and fitness centers, is being carried out by destination and other spas, which attract more customers. Also, it analyzes the major players and the competitive landscape in the spa market.