The global spa market size was valued at USD 47.55 billion in 2020 and is expected to grow at a CAGR of 12.0% during the forecast period. Rise in business operations of hotels & restaurants, coupled with the growing tourism activities, are some factors that are projected to lead the market growth in the forthcoming period. Moreover, the increasing chaotic life of individuals drives the growth more in urban areas, which leads to the preference for spas across the globe.
As the government enforced strict social distancing norms along with lockdowns is creating a downfall in the market. This resulted in a considerable weakening in the market demand due to decreasing number of visits in the sector. In addition, market vendors also enduring this downfall and the government norms of the gradual opening of services lead to set market on the track again.
The spa can be defined as the establishment of a commercial place that offers services for body relaxation and health management. The basic services presented by these comprises is an extensive variety of therapeutic treatments such as body treatments and scrubs, manicure & pedicure, massage, sauna baths, and facial. Massages aids in preventing ankle injuries, balancing blood pressure as well as reducing headaches. These services are generally delivered by the mineral or thermal, hotels and resort, destination, day, and medical. Spas serve services medical ailments, weight management, anti-aging, boost the immune system, and detoxifying the body of an individual.
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The spa industry is currently the fastest-growing part of the hospitality and leisure sector. From some past years, there have been vigorous growth spots in resorts and luxury hotel due to the rising customer demand, and the availability of these facilities is important in the hospitality industry. Many of these services mainly focused on offering improved services to their customers whose need for self-actualization has grown, and stress level management is tied with their net worth reflects rapid development in the industry.
Thus, the stress management requirement contributes to the market demand, which strengthens the trend in developed and emerging economies. In addition, the hectic and chaotic lifestyles of people coupled with the growing disposable incomes are accounting for the positive outlook of the market worldwide.
Moreover, the market is further developing with the surge in the number of spas worldwide. There were approximately 149,000 spas accounted for in 2017, up from 121,595 spas operating in 2015 as per the Global Wellness Institute. Owing to such reasons, market has grown as a noteworthy development in this sector, so it leads to increasing the global market demand. As a result, the mounting utilization of these facilities in the sector is the factor that fuels the growth of the industry over the forecast period.
The market is primarily segmented on the basis of type, service, end-use, and region.
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Based on the type segment, the hotel/resort segment is dominating and the largest contributor of revenue in the overall market across the globe. This is primarily due to the growing number of tourism activities around the world. Big hotel companies sustained to enhance the wellness-oriented into their companies’ portfolio.
For instance, two wellness brands Miraval Group and Exhale was purchased by the Hyatt Hotels Corporation in 2017. This acquisition was done to unite their customer service for the hotel's best guest experience, in United States. Miraval's portfolio has lately grown up for embracing their new sites in Austin and Lenox. Thus, these factors may positively influence segment growth across the globe.
On the flip side, destination witnessed the fastest-growing rate over the forecast period of 2021-2028. The escalating market demand for traditional spas like Turkish massage, LomiLomi massage, Ayurveda, Swedish and Thai massage stimulates a positive segment growth. There are numerous people who visit destination spa for work on a certain issue or start their fitness activities by joining a week-long program.
Geographically, Asia Pacific is the major contributor in the market, generating the highest revenue, which leads to the dominancy of the region. Factors such as the rise in inbound and outbound tourism coupled with increasing disposable income, especially in the emerging economies such as China, Japan, and India, are major driving factors propelling the region’s growth.
Escalating the working population demands more massages and wellness services to reduce stress because their hectic lifestyles may generate significant revenue in the market. Developing economies in the APAC, such as India and China, demonstrate healthy economic growth, which attributed to the growing market demand. The prosperous hospitality industry and rising admiration for traditional spas like Ayurveda and Thai massage in the Asia Pacific may lead the market in the near future.
Besides, Europe is likely to record the highest growth rate in the global market over the upcoming scenario from 2021 to 2028. The market demand is expected to increase due to the growing popularity of massages among the ordinary population in the region. Countries like United Kingdom, France, Italy, and Germany are more inclined towards various massages such as LomiLomi massage, Thai massage, and ayurvedic massage may spur the market growth. Moreover, there are several vendors in Europe that present a diverse variety of facilities and services for promoting a healthy lifestyle are gaining noteworthy eminence across the region.
Some of the major players operating the global market include Emirates Palace Spa, Clarins Group, Belmond Maroma Resort & SPA, Four Seasons Hotel Limited, Gaia Retreat & SPA,Grand Resort Bad Ragaz AG, Hot Springs Resort & Spa, Jade Mountain, Lanserhof, Mandarin Oriental Hotel Group, Marriott International Inc., Massage Envy, Omni Hotels & Resorts, Planet Beach, Rancho La Puerta Inc, Six Senses Hotels Resorts SPAs, Trailhead SPA.
Market size value in 2020
USD 47.55 billion
Revenue forecast in 2028
USD 89.40 billion
12.0% from 2021 - 2028
2016 - 2019
2021 - 2028
Revenue in USD million and CAGR from 2021 to 2028
By Type, By Service, By End-Use, By Region
North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Emirates Palace Spa, Clarins Group, Belmond Maroma Resort & SPA, Four Seasons Hotel Limited, Gaia Retreat & SPA,Grand Resort Bad Ragaz AG, Hot Springs Resort & Spa, Jade Mountain, Lanserhof, Mandarin Oriental Hotel Group, Marriott International Inc., Massage Envy, Omni Hotels & Resorts, Planet Beach, Rancho La Puerta Inc, Six Senses Hotels Resorts SPAs, Trailhead SPA.