According to the latest report by IMARC Group, titled “Spa Market: Global 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.
Spa represents commercial establishments that provide body relaxation and health management services. They can be categorized into salon spas, hotel and resort spas, medical spa, destination spas, thermal spring spas, etc. These spa facilities offer an extensive range of therapeutic treatments, including body scrubs, massages, steam baths, facials, manicures, sauna baths, pedicures, etc. They even provide customizable treatments that have de-stressing and anti-aging effects and prove to be extremely beneficial for managing stress, boosting the immune system, detoxifying the body, weight management, etc. As a result, spa services are in high demand among both male and female consumers across the globe.
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.
Global Spa Market Trends:
The growing wellness tourism industry and the increasing health consciousness among the masses are primarily driving the spa market. In addition to this, the shifting preferences toward therapeutic spas to reduce stress and anxiety, on account of the hectic schedules and sedentary lifestyles of the working population, are also positively influencing the global market. In line with this, the rising need for personalized premium and super-premium wellness programs and treatments that allow customers to relax in a comfortable ambiance is acting as another significant growth-inducing factor. Apart from this, the elevating use of organic procedures and floatation therapies that promote natural healing of the skin is further stimulating the market growth. Moreover, the escalating usage of innovative social media marketing strategies by leading market players to improve their brand positioning and broaden their customer base and the expanding destination spa segment are expected to propel the spa market in the coming years.
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Global Spa Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- 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 on region, type, end user.
Breakup by Type:
- Salon Spa
- Hotel and Resort Spa
- Medical Spa
- Destination Spa
- Thermal Spring Spa
Breakup by End User:
Breakup by Region:
- 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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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
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