Global Spa Market is Expected to Reach $185.5 billion by 2030 – Astute Analytica
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Spas, including massages, facials, body scrubs, steam baths, waxing, etc., are gaining popularity across the globe. Spas are amongst the most compelling therapies to relieve stress and heal depression. Various new types of spas have been introduced, which are ideal for people of all ages and genders. The World Health Organization reports that depression affects around 3.8% of the population, which includes 5% of adults and 5.7% of people aged above 60 years.
Growing inclination towards health & wellness activities, combined with the upsurging cases of lifestyle-related ailments, are shaping the scope of the global spa market. Apart from that, the global spa market is expected to witness the positive impact of growing urbanization, increasing employment rate, and hectic lifestyles of people. Personal care activities, such as spa therapies, are gaining impetus due to the rising knowledge about their benefits. For instance, the spa can significantly help de-stress. Accompanied by that, it makes skin more radiant, helps in sleep, and releases dopamine & serotonin, which could aid in reducing anti-aging issues and headaches by enhancing blood flow & circulation, etc.
The growing tourism sector is expected to have a significant contribution as a large number of hotels, restaurants, and spas offer a broad portfolio of spa services.
However, the spa can result in various sort of diseases and other health risks, which may obstruct the market growth.
Segmentation Analysis
Bootcamp Spa, based on spa type, leads with the highest market share
On the basis of spa type, the Bootcamp spa leads with the highest market share. The other segments included are thalassotherapy spa, mobile spa, destination spa, ayurvedic spa, day spa, mineral spring spa, medical spa, etc. The growth of the Bootcamp-type spa is attributed to the fact that it incorporates physical activities in nature, which can result in weight loss and detoxification. Meanwhile, the destination spa segment, based on type, will register the highest growth rate due to the fact that it offers good nutrition and enables a relaxing environment.
On the basis of application, hotel/hospitality leads with the highest market share
On the basis of application, hotel/hospitality, household, gym/fitness, spas, etc., are the categories of the global spa market, wherein the hotel/hospitality segment leads with the highest market share. The growth of the hotel/hospitality segment in the spa market is linked to the fact that various hotels offer lavish spa treatments. Further, the accelerating growth graph of the tourism segment will benefit the spa market in a long run. However, the gym/fitness segment is expected to lead with the highest growth rate as various centers offer both physical activity programs and relaxing spa treatments to attract more customers.
On the basis of market type, renovation/replacement leads with the highest market share
On the basis of market type, the renovation/replacement segment is leading, while the new segment will grow at the highest growth rate. The growth of the renovation/replacement segment in the global spa market is attributed to the fact that old hotels and fitness centers are rapidly transforming their infrastructure through renovations to cater to the needs of the users.
On the basis of revenue, Europe leads in the global spa market in 2021
Europe, based on region, leads with the highest share in the global spa market in 2021 and is expected to maintain its dominance even in the coming years. The growth of the Europe spa market is associated with the growing focus of individuals on wellness. Additionally, the region is home to six of the top 10 wellness tourism destinations, which are gaining significant attention.
The Asia-Pacific spa market will register the highest growth rate because of the growing disposable income, combined with the rising knowledge about well-being.
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Competitive Insight
Four Fountains De-Stress Spa is the largest spa provider in India with over 28 spa locations and 500 employees catering to the demands in Mumbai, Pune, Delhi, Bangalore, etc. The firm caters to the needs of de-stress spa therapies to over 4,00,000+ guests across the globe and is known for its affordably priced and membership discounts.
Hot Springs is a resort & spa that has been established in a 100-acre area in North Carolina. With an expansive range of primitive camping cabins, jetted hot
tubs, and around a hundred tent sites & Full RV Hookups, hot Springs has been maintaining a strong foot in the spa industry since 1978, mainly due to its hot mineral waters. Apart from spa and mineral bath services, hot springs include a broad variety of outdoor recreation activities in their portfolio, which includes biking, whitewater rafting, Tree Top Zip-line Tours, horseback riding, hiking, etc.
Marriott International, Inc. is maintaining an expansive portfolio of around 7,000 properties under 30 leading hotel brands, which is catering to people in nearly 131 countries and territories. The firm's hotels offer a compelling range of luxurious spas. As of now, the firm has nearly 172 spa hotels alone in the United States and nearly 300 spa hotels in other states.
Hyatt Hotels Corporation is engaged in the hospitality sector since 1957. The luxurious hotels and accommodations offered by the corporation include luxury spas, amenities for gatherings, and other superior services. With a portfolio of around 1,150 hotels in 70 countries, the firm's resorts and spas are working under the brand names Sunscape, Secrets, Dreams, Zoetrys, Breathless, and Alua Hotels & Resorts.
Siam Wellness Group Public Company Limited is engaged in the spa industry since 2001. This Thailand-based firm operates under two business segments, namely Day Spa under Let's Relax and Destination Spa under RarinJinda Wellness Spa.
Segmentation Overview
By Type
Ayurvedic Spa
Bootcamp Spa
Day Spa
Destination Spa
Medical Spa
Mineral Spring Spa
Mobile Spa
Thalassotherapy Spa
Others
By Application
Hotel/ Hospitality
Gym/ Fitness and Spas
Household
Other
By Market Type
New
Renovation/Replacement
By Region
North America
The U.S.
Canada
Mexico
Europe
The UK
Germany
France
Italy
Spain
Poland
Russia
Asia Pacific
China
Taiwan
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
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About Astute Analytica
Astute Analytica is a global analytics and advisory company that has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in-depth, and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the Globe. They are able to make well-calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyze for them the complex business environment, segment-wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of best cost-effective, value-added package from us, should you decide to engage with us.
Aamir Beg
Astute Analytica
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