Spa Market
Report ID: SQSG25J2012
Spa Market Size, Share, Growth Analysis, By Facility Type(Hotel Spa, Medical Spa, Destination Spa, others), By End-User(Women, Men), By Service(Massage, Beauty/Grooming, Physical Fitness, Others), By Region - Industry Forecast 2024-2031
Report ID:
SQSG25J2012 |
Region:
Global |
Published Date: July, 2001
Pages:
157
|Tables:
91
|Figures:
76
Spa Market Insights
Spa Market size was valued at USD 53.4 billion in 2019 and is poised to grow from USD 60.22 billion in 2023 to USD 155.61 billion by 2031, growing at a CAGR of 12.6% in the forecast period (2024-2031).
The change in lifestyles in urban areas, high growth in inbound and outbound tourism for the wellness purpose, and increasing awareness among people regarding health problems are the key driving factors of the global spa market during the forecast period. Moreover, for the maintenance of a physically and mentally healthy lifestyle across the globe the demand for spa therapies are likely to increase at a significant speed in the next few years.
Furthermore, rapid growth in the adoption of western culture and growing urbanization in the emerging economies such as India, China, and Indonesia have created lucrative growth opportunities for the spa market. According to our findings, currently India has around 6500 spas, which generates a revenue of around over USD 2 billion annually, and the market is set to continue this with more than 10,000 spas in next 5 years. The growth in the spa centers in the developing nations are projected to have positively impact on the global spa market over the forecast period.
In addition, the presence of international hotel chains in the market and increasing development in the spa centers is likely to help spa market to remains strong. Major factors such as an extensive rise in women population and increasing number of anti-aging spa treatments across the globe would help spa industry by providing potential clients over the forecast period. For instance, Starwood Hotels, an leading hotel chain in the global market has 65 spas in the region which are under construction, while Hilton has around 124 expected across the globe.
US Spa Market is poised to grow at a sustainable CAGR for the next forecast year.
To get more reports on the above market click here to Buy The Report
Spa Market Segmental Analysis
Spa Market is segmented on the basis of facility type, end-user, and region also. By facility type, the Spa Market is sub-segmented into hotel spa, medical spa, destination spa, and others. By end-user, the Spa Market is bifurcated into women and men. Based on service, the Spa Market is segmented into massage, beauty/grooming, physical fitness, and others. By region, the Spa Market is divided into North America, Europe, Asia Pacific, Latin America, and MEA.
Spa Market Analysis by Facility Type
By facility type, the hotel spa segment dominated the market and accounted for over 38% market share in 2021 owing to the rapid growth in the tourism all over the world. In the last few years, tourism sector has seen an extensive growth in the number of tourists around the world. As a result, the demand for spa therapies in hotels are on their boom and the large hotel chains have contributed a large segment of the segment growth and expected to do the same throughout the forecast period. For instance, in April 2021, EDITON Hotels announced about the another international expansion by the end of 2022, with the opening of 8 new properties across three continents. Their new openings will be in Rome, Madrid, Dubai, Reykjavik, Tampa, Doha, Mexico, and EDITON’s second property in the Tokyo
Spa Market Analysis by End-User
By end-user, the women segment held a significant market share in 2021 and is expected to maintain its dominance throughout the forecast period. Since, women are the primary and major users of personal care services and increasing number of working women in the recent years couple with the rising disposal income is further expected to drive the demand for spa therapies in the near future. However, rising trend of grooming among men population is also likely to propel men segment growth. In addition, several new companies are entering into the market with centers dedicated only to male customers. For instance, New Paradise Men’s Spa, New York, that offers massage and facial services that are significantly designed for only male customers. Therefore, the adoption of spa among men’s is likely to increase the growth of the global spa market.
To get detailed analysis on other segments, Request For Free Sample Report
Spa Market Regional Insights
Globally, Asia Pacific dominated the spa market with a significant growth rate and healthy market share in 2021. Easy availability of spa services and growing awareness for full body massage and beauty treatments are the major factor for the growth of spa industry in the region. In addition, improvement in lifestyle along with the rapid expansion in the number of tourists in developing countries such as India and China are another major factor responsible for the growth of spa market.
Furthermore, North American region is expecting highest growth rate during the forecast period. Increase in the luxurious service facilities and development of new spa therapies are the major factors expected to drive the growth in the region over the forecast period. According to our findings, there are more than 21,500 spa locations across the United States, around 173 million Americans visited to spas across the United States, and almost 3,66,000 employees are currently working in the spa industry.
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Spa Market Dynamics
Spa Market Drivers
- Growing popularity of beauty services among young generation across the world is the major factor expected to boost the demand for spas during the forecast period. Young generation people avail spa services before any type of function, party and proms where they are greatly looking for grooming treatments that can easily enhance their look, appearance, and tone of the body also. All these factors are projected to fuel the demand for spas in the next few years. Moreover, beauty service facility provider companies are highly investing on attractive packaging interior décor, and lightning effects to gain the attention of young generation and teenagers also.
Spa Market Restraint
- Lack of skilled and trained manpower for the several types of beauty treatment across the globe is the main hurdle of the global spa market over the forecast period. Since, the spa therapies and other beauty treatments requires well-skilled people for the successfully and smoothly treatment, the lack of them is a key factor restraining the market growth. In addition, high treatment cost and low awareness among the semi-urban population are also expected to hinder the global spa market.
Request Free Customization of this report to help us to meet your business objectives.
Spa Market Competitive Landscape
The global spa market is fairly competitive with the presence of several small- scale businesses as well as large players such as Marriott and Hyatt across the globe. Key market players are mainly focusing on offering various customized packages to their customers for enhancing their experience in the services. Moreover, adoption, new product innovation, partnerships, and collaboration are some other key strategies on which market players are currently implementing.
Top Players in the Global Spa Market
- AccorHotels
- Four Seasons Hotels and Resorts
- InterContinental Hotels Group (IHG)
- Mandarin Oriental Hotel Group
- Marriott International
- Radisson Hotel Group
- Ritz-Carlton
- Shangri-La Hotels and Resorts
- Hilton Worldwide
- Hyatt Hotels Corporation
- Starwood Hotels and Resorts Worldwide
- Fairmont Hotels and Resorts
- Rosewood Hotels and Resorts
- Canyon Ranch
- COMO Hotels and Resorts
- Six Senses Hotels Resorts Spas
- Anantara Hotels, Resorts & Spas
- Banyan Tree Hotels and Resorts
- Waldorf Astoria Hotels & Resorts
- St. Regis Hotels & Resorts
Spa Market Recent Developments
- In May 2022, Indian Hotels Company Limited announced their launching of new Taj CityCentre NewTown hotel in Kolkata, India. The main aim of this launching is to provide epitome of elegance and luxury along with modern day convenience experience to its travellers.
- In March 2021, Zenoti Foundation, a cloud-based platform for spa and beauty services, partnered with Sutherland Global for the improvement of their customer experience through the expansion of real time support across both ways phone-based and chat-based channels and address problems and queries in jest few minutes.
Spa Key Market Trends
- With the rising awareness among people regarding their health and wellbeing, the spa industry is getting huge popularity across the world. Nowadays, people have very busy schedule and don’t have much time for taking care of their health and body. As a result, people are suffering from several types of issues such as depression, anxiety, and stress, and these are becoming very popular among people, therefore the demand for spa services is growing very fast and expected to have a positive impact in the near future.
Spa Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, the global spa market is witnessing a significant growth during the forecast period owing to increased per capita income, continuously growing women workforce, and increasing adoption of spa services in the emerging economies such as India and China. In addition, factors such as helps to de-stress, reduces headaches, make skin smoother, and help with anti-aging are the main factors projected to drive the market growth over the forecast period. However, poor professionalism, substandard performance, and annoying chattering are the reasons likely to hamper the growth of the market during the forecast period.
| Report Metric | Details |
|---|---|
| Market size value in 2019 | USD 53.4 billion |
| Market size value in 2031 | USD 155.61 billion |
| Growth Rate | 12.6% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Spa Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Spa Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Spa Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Spa Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Spa Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Spa Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
USA (+1) 351-333-4748
