The spa industry encompasses a diverse range of services and facilities designed to promote health, wellness and relaxation through various therapeutic treatments and activities.
The spa market consists of sales, by entities (organizations, sole traders and partnerships), of spa services and related products that are utilized by a broad spectrum of individuals seeking to reduce stress, enhance well-being and maintain physical and mental health. Commonly, spa facilities offer services such as massages, beauty and grooming treatments, physical fitness programs and other specialized wellness therapies.
The global spa market was valued at $101,743.20 million in 2018 which grew till 2023 at a compound annual growth rate (CAGR) of more than 2.0%.
Increased Disposable Income Per Capita
Increased disposable incomes per capita fueled the growth of the spa market during the historic period. With increased financial resources at their disposal, people were more likely to spend money on luxury experiences and leisure activities, such as spa treatments. Consumers were able to buy high-end spa services thanks to increased discretionary money. As a result, growing per capita earnings contributed significantly to the spa industry's growth trajectory throughout this time. For instance, according to the Bureau of Economic Analysis (BEA), a US-based government agency that provides official macroeconomic and industry statistics, disposable personal income per capita in the United States increased to $61,047 in November 2023 from $57,339 in November 2022. Additionally, in February 2023, according to estimates from the National Statistical Office (NSO) under the Ministry of Statistics and Programme Implementation (MoSPI), India's per capita net national income was INR 172,000 ($2,077.35). This is a nearly 100% increase over the INR 86,647 ($1,046.49) per capita income in 2014-15. Therefore, increased disposable incomes per capita drove the growth of the spa market.
Opening Of New Spa And Wellness Centers To Offer Revitalizing And Relaxing Treatments
Companies in the spa market are focusing on opening new centers dedicated to providing revitalizing and relaxing treatments for guests. These establishments promise a comprehensive array of services aimed at rejuvenating the mind, body and spirit. For instance, in January 2024, Claudia di Paolo Beauty, a Spain-based beauty, cosmetic and personal care company, launched the Hair Wellth Spa, a spa haircare treatment center dedicated to hair longevity, at Rosewood Villa Magna in Madrid, Spain. Guests are offered a selection of three new treatments that integrate contemporary hair cosmetic technology with massage therapy, meditation and cranial massage techniques, providing a holistic and rejuvenating experience. Furthermore, in December 2023, The Peninsula Hotels, a Hong Kong-based luxury hotel and hospitality company, launched The Peninsula London Spa & Wellness Centre. Spanning two hotel floors, the facility will provide exceptional services and amenities to nurture guests' physical, mental and emotional well-being. Offerings include a stunning indoor swimming pool and an extensive menu of rejuvenating treatments delivered by top-tier wellness professionals.
The global spa market is fairly fragmented, with a large number of players in the market. The top ten competitors in the market made up to 18.37% of the total market in 2022
Spa Global Market Opportunities And Strategies To 2033 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global Spa market as it emerges from the COVID-19 shut down.
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Where is the largest and fastest-growing market for spa? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The spa market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider spa market; and compares it with other markets.
The report covers the following chapters
- Introduction and Market Characteristics- Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by service type, by facility type and by end user sex.
- Key Trends- Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
- Macro-Economic Scenario- The report provides an analysis of the impact of the COVID-19 pandemic, impact of the Russia-Ukraine war and impact of rising inflation on global and regional markets, providing strategic insights for businesses in the spa market.
- Global Market Size And Growth- Global historic (2018-2023) and forecast (2023-2028, 2033F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional And Country Analysis- Historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison by region and country.
- Market Segmentation- Contains the market values (2018-2023) (2023-2028, 2033F) and analysis for each segment by service type, by facility type and by end user sex in the market. Historic (2018-2023) and forecast (2023-2028) and (2028-2033) market values and growth and market share comparison by region market.
- Regional Market Size and Growth- Regional market size (2023), historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape- Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Other Major And Innovative Companies- Details on the company profiles of other major and innovative companies in the market.
- Competitive Dashboard- Briefs on competitive dashboard of major players.
- Key Mergers and Acquisitions- Information on recent mergers and acquisitions in the market is covered in the report. This section gives key financial details of mergers and acquisitions which have shaped the market in recent years.
- Market Opportunities And Strategies- Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
- Conclusions And Recommendations- This section includes recommendations for spa providers in terms of product/service offerings geographic expansion, marketing strategies and target groups.
- Appendix- This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Markets Covered:
- 1) By Service Type: Massage; Beauty; Grooming; Physical Fitness; Other Service Types
- 2) By Facility Type: Hotel; Resorts Spa; Destination Spa; Day; Salon Spa; Medical Spa; Mineral Spring Spa; Other Facility Types
- 3) By End User Sex: Male; Female
- Companies Mentioned: Caesars Entertainment Inc.; Four Seasons Hotel Limited; Omni Hotels & Resorts; Clarins Group; Hotel Sofitel Pvt. Ltd.
- Countries: China; Australia; India; Indonesia; Japan; South Korea; USA; Canada; Brazil; France; Germany; Italy; Spain; UK; Russia
- Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
- Time-series: Five years historic and ten years forecast.
- Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; spa indicators comparison.
- Data segmentations: country and regional historic and forecast data; market share of competitors; market segments.
- Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.