Spa Market size was valued at US$ 12.01 Bn. in 2022 and the total revenue is expected to grow at CAGR 5.81% through 2022 to 2029, reaching nearly US$ 17.83 Bn.
Spa Market Overview:
The Spa Market study gives a complete picture of the competition, including the market share and company profiles of the key competitors in the global industry. The scope of the research includes a thorough investigation of the Spa Market , as well as the reasons for variations in the industry’s growth in various locations.
Market Scope:
This market report makes extensive use of secondary sources, directories, and databases, such as annual reports, press releases, journals, company websites, and other databases, to discover and collect excerpts acceptable for this study.
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Drivers:
An increasing health concern among individuals such as anxiety, depression, and stress owing to hectic lifestyle resulting in increasing demand for spa services across the globe.
According to the Centre for Disease Control & Prevention, 7.6% of adults from the age group of 18 and above, which is approximately 0.0184 billion people in the U.S. are suffering from asthma disease. Growing expenditure on relaxing therapies such as sauna and spa treatment provides a sense of respiratory relief for asthmatic patients. In addition, the rising per capita income of individuals, improving the standard of living, and changing lifestyles trends across the globe are major factors expected to boost the growth of the target market.
Spa Market Segmentation:
by Type
Salon Spa
Hotel Spa
Medical Spa
Destination Spa
Mineral Spa
Others
by End-user
Women
Men
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Spa Market Key Players :
The entire method entails an examination of the key market players’ financial reports. Following the assessment of the overall market size, the market was segmented into several segments and sub-segments and validated by key industry professionals such as CEOs, VPs, directors, and marketing executives. The biggest players in the Spa Market are as follows:
2. Hot Springs Resort and Spa
3. Four Seasons Hotel Limited
4. Massage Envy
5. Lanserhof
6. Jade Mountain
7. Rancho La Puerta
8. Mandarin Oriental Hotel Group
9. Omni Hotels and Resorts
10. Emirates Palace Spa
11. Mayfair Pevonia Spa
12. Kaya Kalp – the Royal Spa
13. Angsana Oasis Spa
14. The Spa at Ranbanka
15. Ananda in the Hills
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Regional Analysis:
Individual market influencing elements and changes in market laws that influence present and future market trends are also included in the geographical overview of the Spa Market study. Current and future trends are examined in order to assess the entire market potential and uncover profitable trends in order to get a more stable footing. The geographical market assessment is based on the present environment and expected developments.
COVID-19 Impact Analysis on Spa Market :
Due to a break in operations, end-user sectors where Spa Market are used had a decline in growth from January to May in various countries, including China, Italy, Germany, the United Kingdom, the United States, Spain, France, and India. This resulted in a large drop in the revenues of firms operating in these industries and, as a consequence, in demand for Spa Market manufacturers, affecting the development of the Spa Market in 2020. End-user business demand for Spa Market has dropped considerably as a result of lockdowns and a rise in COVID-19 incidents throughout the world.
Key Questions Answered in the Spa Market Report are:
- Which segment had the largest share in the Spa Market in 2021?
- What is the competitive landscape of the Spa Market ?
- Which are the key drivers aiding the Spa Market growth?
- Which region has the maximum share in the Spa Market ?
- What will be the CAGR of the Spa Market during the forecast period (2022-2027)?
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