CHICAGO, USA, Oct. 28, 2022 /EINPresswire.com/ — The global spa market size was US$95 billion in 2021, and is expected to reach US$185.5 billion by 2030 by registering a compound annual growth rate (CAGR ) of 7.6% during the study period, i.e. 2022-2030.
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Spas including massages, facials, body scrubs, steam baths, waxing, etc. are gaining popularity all over the world. Spas are among the most compelling therapies for relieving stress and curing depression. Various new types of hot tubs have been introduced which are ideal for people of all ages and genders. The World Health Organization reports that depression affects approximately 3.8% of the population, including 5% of adults and 5.7% of people over the age of 60.
The growing inclination for health and wellness activities, combined with the surge in cases of lifestyle-related diseases, is shaping the scope of the global spa market. Apart from this, the global spa market is expected to witness the positive impact of increasing urbanization, increasing employment rate and hectic lifestyles of people. Self-care activities, such as spa therapies, are gaining momentum due to growing knowledge of their benefits. For example, the spa can significantly help de-stress. Accompanied by this, it makes the skin more radiant, aids in sleep, and releases dopamine and serotonin, which could help reduce anti-aging problems and headaches by improving blood flow and circulation, etc. .
The growing tourism sector is expected to have a significant contribution as a large number of hotels, restaurants and spas offer a wide range of spa services.
However, hot tub may lead to various kinds of diseases and other health risks, which may hamper the growth of the market.
Segmentation analysis
Bootcamp Spa, based on spa type, leads with the highest market share
Based on spa type, Bootcamp spa leads with the highest market share. 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 lead to weight loss and detoxification. Meanwhile, destination spa segment, based on type, will register the highest growth rate owing to the fact that it provides good nutrition and enables a relaxing environment.
Based on applications, hospitality leads with the highest market share
Based on application, hotel/hospitality, home, gym/fitness, spas, etc., are the categories in the global spa market, in which hotel/hospitality segment is leading with the highest market share. The growth of the hotel/hospitality segment in the spa market is linked to the fact that various hotels are offering lavish spa treatments. Additionally, the accelerated growth chart of the tourism segment will benefit the spa market in the long term. However, the gym/fitness center 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.
Based on market type, refurbishment/replacement leads with the highest market share
Based on market type, the refurbishment/replacement segment is leading, while the new segment will experience the highest growth rate. The growth of the renovation/replacement segment in the global spa market is attributed to the fact that older hotels and fitness centers are rapidly transforming their infrastructure through renovations to meet user needs.
Based on revenue, Europe leads the global spa market in 2021
Europe, based on the 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 European spa market is associated with the increasing interest of individuals in well-being. Additionally, the region is home to six of the top 10 wellness tourism destinations, which are garnering special attention.
The Asia-Pacific spa market will register the highest growth rate due to the growth in disposable income, combined with the increase in wellness knowledge.
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Competitive overview
Four Fountains De-Stress Spa is the largest spa provider in India with over 28 spa locations and 500 staff catering to demands in Mumbai, Pune, Delhi, Bangalore etc. The company serves the needs of anti-stress spa therapies for over 4,00,000+ guests worldwide and is known for its affordable prices and membership discounts.
Hot Springs is a resort and spa that was established in an area of 100 acres in North Carolina. With a huge range of primitive camping cabins, hot jets
hot tubs, and a hundred tent sites and full RV hookups, Hot Springs has maintained a strong position in the spa industry since 1978, primarily due to its hot mineral waters. Besides spa services and mineral baths, the hot springs include a wide variety of outdoor leisure activities in their portfolio, including biking, rafting, treetop zipline tours, horseback riding, hiking , etc.
Marriott International, Inc. maintains an extensive portfolio of approximately 7,000 properties under 30 leading hotel brands, which cater to people in nearly 131 countries and territories. The company’s hotels offer an attractive range of luxurious spas. At present, the company has nearly 172 spa hotels in the United States and nearly 300 spa hotels in other states.
Hyatt Hotels Corporation has been engaged in the hospitality industry since 1957. The luxury hotels and accommodations offered by the company include luxury spas, meeting facilities and other premium services. With a portfolio of approximately 1,150 hotels in 70 countries, the company’s resorts and spas operate under the Sunscape, Secrets, Dreams, Zoetrys, Breathless and Alua Hotels & Resorts brands.
Siam Wellness Group Public Company Limited has been active in the spa industry since 2001. This Thailand-based company operates in two business segments, namely Day Spa under Let’s Relax and Destination Spa under RarinJinda Wellness Spa.
Introduction to Segmentation
By type
Ayurvedic spa
Spa Bootcamp
A spa day
destination spa
medical spa
Mineral spring spa
mobile hot tub
Thalassotherapy spa
Others
By request
Hotel/ Hospitality
Gym/Fitness and Spas
Housework
Other
By type of market
New
Renovation/Replacement
By region
North America
United States
Canada
Mexico
Europe
Great Britain
Germany
France
Italy
Spain
Poland
Russia
Asia Pacific
China
Taiwan
India
Japan
Australia and New Zealand
ASEAN
Rest of Asia-Pacific
Middle East and Africa (MEA)
United Arab Emirates
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
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