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Global Spa Market – Industry Trends and Forecast to 2030

FMCG

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Global Spa Market – Industry Trends and Forecast to 2030

  • FMCG
  • Upcoming Report
  • Nov 2022
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Global Spa Market – Industry Trends and Forecast to 2030

Market Size in USD Billion

CAGR :  % Diagram

Diagram Forecast Period 2022–2030
Diagram Market Size (Base Year) USD 60.22 Billion
Diagram Market Size (Forecast Year) USD 155.61 Billion
Diagram CAGR %

Major Markets Players

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Global Spa Market, By Service Type (Massage, Beauty/Grooming, Physical Fitness, Other Service Types), Facility Type (Hotel/Resorts Spa, Destination Spa, Day/Salon Spa, Medical Spa, Mineral Spring Spa, Other Facility Types), End User (Male, Female) – Industry Trends and Forecast to 2030.

Spa Market

 Spa Market Analysis and Size

Today, spas are offering personalized premium and super-premium experiences through many wellness conducts and programs. Maintaining a mentally and physically healthy lifestyle is anticipated to increase the demand of the spa therapies. Furthermore, rapid urbanization, sedentary lifestyles and working professionals' hectic schedules have augmented therapeutic spas' preference to relieve stress and anxiety. As a result, spas have include customized best and super-premium capabilities due to which numerous spas treatments and services are gaining momentum.

Data Bridge Market Research analyses that the spa market was valued at USD 60.22 billion in 2022 and is expected to reach USD 155.61 billion by 2030, registering a CAGR of 12.60% during the forecast period of 2023 to 2030. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and consumer behaviour.

Spa Market Scope and Segmentation

Report Metric

Details

Forecast Period

2023 to 2030

Base Year

2022

Historic Years

2021 (Customizable to 2015 - 2020)

Quantitative Units

Revenue in USD billion, Volumes in Units, Pricing in USD

Segments Covered

Service Type (Massage, Beauty/Grooming, Physical Fitness, Other Service Types), Facility Type (Hotel/Resorts Spa, Destination Spa, Day/Salon Spa, Medical Spa, Mineral Spring Spa, Other Facility Types), End User (Male, Female)

Countries Covered

U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America

Market Players Covered

Planet Beach Franchising Corporation (U.S.), Hot Springs Resort & Spa (U.S.), Four Seasons Hotel Limited (Canada), ME SPE Franchising, LLC. (U.S.), Lanserhof (Austria), Jade Mountain (U.S.), Rancho La Puerta Inc. (U.S.), Mandarin Oriental Hotel Group Limited (China), MGM Resorts International (U.S.), Crown Resorts Limited (Australia), Caesars Entertainment (U.S.), Las Vegas Sands Corporation (U.S.), Melco International Development Limited (China),  Genting Berhad (Malaysia), Wynn Resorts Holdings, LLC (U.S.) and Galaxy Entertainment Group Limited (China), Omni Hotels & Resorts (U.S.)

Market Opportunities

  • Rapid urbanization
  • Increasing investments

Market Definition

A spa is a place where mineral-rich spring water is used to give medicinal baths. Spa towns or spa resorts normally offer several health treatments, which are also well-known as balneotherapy. The term ‘spa’ encompasses an extensive range of services and can mean everything from a massage and small facial business to expansive destinations of pampering. These locations of relaxation and bathing were believed to benefit well-being and health.

Global Spa Market Dynamics

Drivers

  • Increased wellness and health and activities

The market's expanding momentum is due to some factors such as increasing prevalence of lifestyle-related illnesses and the shifting importance toward wellness and health activities. Many people are turning to wellness and other personal care activities such as sauna treatments, spa therapies and other body therapies as a result of urbanization, hectic lifestyles and an increase in the working population. Spa treatments have numerous advantages, including improving sleep, making skin more luminous, reducing stress, releasing dopamine and serotonin, reducing headaches, relieving pain, improving blood flow and circulation, helping with anti-aging problems, and boosting confidence others.

  • Increasing demand for anti-ageing treatments

The rising need for anti-ageing treatments for acne, wrinkles, clogged pores and hyper-pigmentation is further expected to boost the growth of the market. The growing old age population is progressively spending on non-surgical treatments such as peel and exfoliation to improve their mental and physical health. Anti-stress treatment and detoxification of the system will continue to increase the demand for spa treatments in the global market. Such factors are anticipated to drive the market during the forecast period.

Opportunities

  • Rapid urbanization

Rapid urbanization is anticipated to create ample opportunities for the growth of the market. Urbanization mentions to the movement of population from rural to urban areas and the growing densities of human population in urban areas. Changing lifestyles and increasing stress levels associated with growing urbanization promote demand for spas. For instance, according to the Department of Economic and Social Affairs report, 68% of the world’s population (2.5 billion) are estimated to live in urban areas by 2050 in United Nations. Thus, rapid urbanization will boost the market growth in upcoming years.

  • Increasing investments

There have been rising developments and investments between major market players in recent time that led to many opportunities for the market growth. Monomoy Capital Partners, a US-based private investment firm, acquired Marquis Hot Tubsand Artesian Spas In January 2022 for an undisclosed amount. The combined pool and spa wellness platform will generate a multi-branded hot tub and provide customers with an extensive portfolio of outdoor aquatic products.

Restraints/ Challenges

  • Disadvantages associated with the spa market

The increased demand for personal care products can be attributed to shifting customer preferences towards the unsafe chemical-based spa. Furthermore, the other aspect in men grooming is the demographic of men aged over 55. These people are minimally involved in personal grooming when it comes to use of grooming products. So, the challenge is selling these products and convincing them to change their lifestyles. This demographic factor will hamper the market growth rate.

This spa market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the spa market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Spa Market

The outbreak of cobid-19 had a huge impact on the spa market. The businesses were bound to shut down or impose strict hygiene rules for their employees and visitors during coronavirus (COVID-19) pandemic, which had an enormous impact on the industry. According to 31% of spa sector executives surveyed globally in March 2020, the number of spa visits would decline by more than 70% in the pandemic compared to last year. Demand for spa treatments is projected to increase as more people maintain mentally and physically healthy lifestyles.

However, a recovery in the spa business is expected. Demand is growing as consumers emphasize the value of their mental health, well-being and stress alleviation. The present difficulty is finding and keeping enough employees, such as spa managers and massage therapists.

Recent Development

  • In March 2021, Zenoti, a cloud-based software provider for salons and spas, established a strategic alliance with Sutherland Global. Through the growth of real-time service across phone and chat and based platforms, the company will be capable to swiftly resolve the majority of customer support concerns, thus improving the customer experience.
  • In January 2021, Touch-Free Wellness Spa is a US-based new spa business was started with touch-free spa technology to deliver spa services without the touch of a massage practitioner or therapist. The spa uses cryotherapy, anti-gravity robotic massage chairs, hydro-massage chairs, infrared sauna pods, lymphatic compression massages, near-infrared light therapy and whole body vibroacoustic treatments to deliver a hands-off spa experience.

Global Spa Market Scope

The spa market is segmented on the basis of service type, facility type and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Service Type

  • Massage
  • Beauty/Grooming
  • Physical Fitness
  • Other Service Types

Facility Type

  • Hotel/Resorts Spa
  • Destination Spa
  • Day/Salon Spa
  • Medical Spa
  • Mineral Spring Spa
  • Other Facility Types

End User

  • Male
  • Female

Spa Market Regional Analysis/Insights

The spa market is analyzed and market size insights and trends are provided by country, service type, facility type and end user as referenced above.

The countries covered in the spa market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Europe dominates the global spa market due to the growing popularity of Ayurveda massage, lomi massage, Thai massage and other among the consumers mostly in the U.K., Germany and France. Moreover, growing popularity of wellness among normal people, numerous spa vendors in Europe have established an extensive range of services to boost healthy living.

Asia-Pacific is anticipated to be the fastest developing region during the forecast period of 2023-2030 due to the expansion of the tourism industry and increasing disposable income, especially in developing nations such as China and India. Moreover, the flourishing hospitality industry and the increasing popularity of traditional spas such as Ayurveda and Thai massage in this region would continue to drive the market growth.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Spa Market Share Analysis

The spa market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to spa market.

Some of the major players operating in the spa market are:

  • Planet Beach Franchising Corporation (U.S.)
  • Hot Springs Resort & Spa (U.S.)
  • Four Seasons Hotel Limited (Canada)
  • ME SPE Franchising, LLC. (U.S.)
  • Lanserhof (Austria), Jade Mountain (U.S.)
  • Rancho La Puerta Inc. (U.S.)
  • Mandarin Oriental Hotel Group Limited (China)
  • Crown Resorts Limited (Australia)
  • Caesars Entertainment (U.S.)
  • Las Vegas Sands Corporation (U.S.)
  • Melco International Development Limited (China)
  • Genting Berhad (Malaysia)
  • Wynn Resorts Holdings, LLC (U.S.)
  • Galaxy Entertainment Group Limited (China)
  • Omni Hotels & Resorts (U.S.) 


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Research Methodology:

Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

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FREQUENTLY ASK QUESTIONS

The spa market size will be worth USD 155.61 billion by 2030.
The growth rate of the spa market is 12.60% in the forecast period by the year 2030.
Major companies in the spa market are Planet Beach Franchising Corporation (U.S.), Hot Springs Resort & Spa (U.S.), Four Seasons Hotel Limited (Canada), ME SPE Franchising, LLC. (U.S.), Lanserhof (Austria), Jade Mountain (U.S.), etc.
Service type, facility type, and end-user are the factors on which the spa market research is based.
Increased wellness and health and activities & Increasing demand for anti-ageing treatments are the growth drivers of the spa market.
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