Spa Market Size, Share, Trends, Opportunities and Forecast 2022-27
According to IMARC Group’s latest report, titled “Spa Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” The global spa market size reached US$ 44.6 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 91.2 Billion by 2027, exhibiting a growth rate (CAGR) of 12.6% during 2022-2027.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
The global spa market size reached US$ 44.6 Billion in 2021. A spa represents a commercial establishment that provides health management and body relaxation services. It generally includes a wide array of therapeutic treatments, such as body scrubs, massages, steam baths, facials, sauna baths, manicures, pedicures, etc. A spa is specifically designed to encourage fitness and peace of mind to users. It has several anti-aging and de-stressing effects and is also beneficial for preventing stress, treating medical diseases, detoxifying the body, improving blood circulation, weight management, boosting the immune system, etc.
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Market Trends
The expanding wellness tourism industry across countries is primarily driving the spa market. Additionally, the inflating need for maintaining a healthy mental and physical lifestyle, owing to the increasing number of various problems, such as stress, anxiety, depression, etc., among individuals, is further catalyzing the market growth. Besides this, the growing expenditure capacities of the consumer and the development of hybrid technology that utilizes its gas-generated system to control the temperature of the spa are positively influencing the global market. Moreover, the rising popularity of contemporary spas that offer facial and detoxifying treatments by adopting numerous organic ingredients, peels, water-based elements, etc., is acting as another significant growth-inducing factor. Apart from this, the introduction of floatation therapies and personalized programs to promote relaxation and healing of the skin is anticipated to fuel the spa market over the forecasted period. Looking forward, IMARC Group expects the market to reach US$ 91.2 Billion by 2027, exhibiting a growth rate (CAGR) of 12.6% during 2022-2027.
List of Key Companies Covered in this Market Report:
Canyon Ranch Inc.
Emirates Palace
Four Seasons Hotels Limited
Grand Resort Bad Ragaz AG
Harrison Hot Springs Resort & Spa Corp.
Lanserhof GmbH
Marriott International Inc.
Massage Envy Franchising LLC
Planet Beach Franchising Corporation
Rancho La Puerta Inc.
Six Senses Hotels Resorts Spas (InterContinental Hotels Group).
The report has segmented the market on the basis of type, end-user and geography.
Breakup by Type:
Salon Spa
Hotel and Resort Spa
Medical Spa
Destination Spa
Thermal Spring Spa
Others
Breakup by End User:
Male
Female
Breakup by Geography:
North America (U.S. & Canada)
Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
Latin America (Brazil, Mexico)
Middle East & Africa
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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