Global Spa- Market Overview:
A spa is a range of services that enhance health, beauty, and relaxation through various treatments and therapies. These treatments include massages, facials, body scrubs, wraps, and hydrotherapy. Spas typically provide a serene environment where users can unwind and rejuvenate both their body and mind. Additionally, amenities such as saunas, steam rooms, Jacuzzis, and relaxation lounges further enhance the experience. In the upcoming period, spa are expected to be characterized by a focus on personalized wellness, technology integration, sustainability, and holistic healing modalities as they strive to meet the evolving needs of wellness-conscious consumers.
As per latest study released by AMA Research, the Global Spa- market is expected to see growth rate of 11.4%Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Historical Period | 2018-2023 |
Unit | Value (USD Billion) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
The Trend towards Luxury and Experiential Travel in SPA
Market Growth Drivers:
Growing Awareness of Health and Wellness and Increasing Partnerships with Travel Agencies and Hotels to Create Destination Spa Packages
Challenges:
Securing and Retaining Skilled Spa Therapists and Wellness Practitioners Can Pose Challenge
Restraints:
Operating a spa involves significant expenses related to staffing, facility maintenance, equipment, and product inventory
Opportunities:
Integration of Wellness-Focused Technology into Spa Services Enhancing the Customer Experience
Competitive Landscape:
The spa industry is diverse and dynamic, with a range of players offering various wellness services and experiences. Traditional spas, luxury resorts, wellness retreats, medical spas, and even fitness centers offering spa services all contribute to this competitive ecosystem. The spa industry has witnessed the integration of technology to enhance customer experiences, with features such as online booking platforms, virtual consultations, and personalized wellness apps becoming increasingly common. In the upcoming forecast period, there is a rise in virtual and at-home spa services, leveraging technology to bring relaxation to consumer’s fingertips.
Some of the key players profiled in the report are Planet Beach (France), Hot Springs Resort & Spa (United States), Four Seasons Hotel Limited (Canada), ME SPE Franchising, LLC. (United States), Rancho La Puerta Inc. (United States), Mandarin Oriental Hotel Group (United States), Omni Hotels & Resorts (United States), Marriott International Inc. (United States), Kempinski Hotels (Switzerland) and Brenners Park-Hotel & Spa (Germany). Additionally, following companies can also be profiled that are part of our coverage like Lanserhof (Germany), Siam Wellness Group (Thailand), Jade Mountain (United States), Melco International Development Limited (China) and Wynn Resorts Holdings, LLC. (United States). Analyst at AMA Research see United States Players to retain maximum share of Global Spa- market by 2030. Considering Market by Facility Type, the sub-segment i.e. Hotel/Resorts Spa will boost the Spa- market. Considering Market by Age Group, the sub-segment i.e. Up to 18 will boost the Spa- market. Considering Market by Service Type, the sub-segment i.e. Massage will boost the Spa- market. Considering Market by End User, the sub-segment i.e. Men will boost the Spa- market.
In January 2024, Asda, a British supermarket chain, launched its inaugural supermarket spa, introducing beauty treatments alongside nutritious dining options. This innovative venture aligns with Asda's strategy to diversify its offerings and provide holistic wellness solutions to customers amidst their grocery shopping experience. and In December 2023, Canyon Ranch Inc., a destination wellness company, launched its latest wellness club, boasting a spa, salon, fitness center, and performance services. With this launch, the companies aim to cater to individuals craving top-tier wellness experiences.
What Can be Explored with the Spa- Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Spa- Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Spa-
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Spa- market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Spa- market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Service Providers, Government Agencies, Regulatory Bodies, Potential Investors, Research and Development Institutes, End User Industry and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.