Spa Market Size to Grow by USD 22.08 Billion | Aspira Spa and Cal-a-Vie Health Spa Among Key Vendors | Technavio

NEW YORK, Jan. 12, 2022 /PRNewswire/ — Some of the primary growth drivers for this market are the increase in adoption of facial, body, and hair treatments in spas; growing wellness tourism industry; and brand positioning enabling premium pricing for spa services, according to a senior analyst at Technavio.

The growing wellness tourism industry will fuel the growth of the spa market size. Many people opt for wellness tourism and travel to different countries for physical, spiritual, and psychological wellbeing. Hectic schedules lead to stress, bad eating habits, and pollution. These factors further result in different health issues such as skin problems, obesity, poor immunity, heart problems, and chronic diseases. Wellness tourism is an appropriate solution to improve the quality of life and prevent such health issues. This type of tourism creates opportunities for wellness businesses and other businesses, such as spas. Hence, the spa market is likely to witness significant growth during the forecast period.

View Our Free Sample Report Now for additional information about the drivers impacting the growth of the spa market

The spa market size is expected to grow by USD 22.08 bn from 2020 to 2025. The year-over-year growth rate of the market in 2021 is 4.30%.

Market Segmentation Highlights

  • By type, the spa market has been classified into five segments, namely day/club/salon spa, hotel/resort spa, destination spa, medical spa, and others.
  • Among these segments, the day/club/salon spa segment will have significant market share growth during the forecast period.
  • Day spas are popular for treatments and facilities during the day. They offer beauty and relaxation treatments such as hair treatments, massages, and facials.
  • Many vendors are expected to offer innovative day/club/salon spa services during the forecast period.

Regional Analysis

  • By geography, the spa market has been segmented into five regions, namely Europe, APAC, North America, South America, and MEA
  • Europe is expected to dominate the market. The region will account for 33% of the growth of the market during the forecast period.
  • Germany and France are the key countries for the spa market in Europe.
  • Market growth in this region will be faster than the growth of the market in APAC, North America, South America, and MEA.
  • The rise in the working population and growing wellness tourism will drive the spa market growth in Europe during the forecast period.

For more information about the contribution of each segment of the spa market, View Our Free Sample Report Now

Notes:

  • The spa market size is expected to accelerate at a CAGR of 6.15% during the forecast period.
  • The market is fragmented due to the presence of many vendors holding significant market share.
  • The report offers information on several market vendors, including Aspira Spa, Cal-a-Vie Health Spa, Gaia Retreat & Spa, Hand & Stone Franchise Corp., HOT SPRINGS RESORT & SPA, Kempinski Hotels SA, Lanserhof GmbH, Marriott International Inc., ME SPE Franchising LLC, and Rancho La Puerta Inc.

Get lifetime access to our Technavio Insights. Subscribe now to our most popular “Lite Plan” billed annually at USD 3000. View 3 reports monthly and Download 3 Reports Annually!

Related Reports:

  • Health and Wellness Market by Product and Geography – Forecast and Analysis 2021-2025: The health and wellness market share is expected to increase by USD 1.39 trillion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 6.29%. Download Free Sample Report Now
  • Gym and Health Clubs Market by Service and Geography – Forecast and Analysis 2021-2025: The gym and health clubs market has the potential to grow by USD 101.18 billion during 2021-2025, and the market’s growth momentum will decelerate at a CAGR of 15.39%. Download Free Sample Report Now

Spa Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of over 6%

Market growth 2021-2025

USD 22.08 billion

Market structure

Fragmented

YoY growth (%)

4.30

Regional analysis

Europe, APAC, North America, South America, and MEA

Performing market contribution

Europe at 33%

Key consumer countries

US, China, Germany, France, and Japan

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Aspira Spa, Cal-a-Vie Health Spa, Gaia Retreat & Spa, Hand & Stone Franchise Corp., HOT SPRINGS RESORT & SPA, Kempinski Hotels SA, Lanserhof GmbH, Marriott International Inc., ME SPE Franchising LLC, and Rancho La Puerta Inc.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period,

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.



Contact

Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

Email: media@technavio.com

Website: www.technavio.com/

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/spa-market-size-to-grow-by-usd-22-08-billion–aspira-spa-and-cal-a-vie-health-spa-among-key-vendors–technavio-301458392.html

SOURCE Technavio

Leave a comment...

© 2020 Go:Read Media