A spa is a facility which provides a range of services for health management and body relaxation, including saunas, pools, steam rooms, medical spas, day spas, mineral springs spas, mud baths, and ayurvedic spas.
Sizing and Forecast
The spa market size has grown rapidly in recent years. It will grow from $65.21 billion in 2023 to $72.97 billion in 2024 at a compound annual growth rate (CAGR) of 11.9%. The growth in the historic period can be attributed to rise in holistic and mind-body treatments, medical spa services, luxury and affluent lifestyle, beauty and aesthetics, corporate wellness programs.
The spa market size is expected to see rapid growth in the next few years. It will grow to $111.77 billion in 2028 at a compound annual growth rate (CAGR) of 11.2%. The growth in the forecast period can be attributed to elderly population demands, sustainable and eco-friendly practices, integration with fitness programs, cultural wellness experiences, government health initiatives. Major trends in the forecast period include virtual and remote spa services, innovative wellness technologies, customized and personalized spa experiences, advanced technology in treatments, collaborations with beauty and skincare brands.
Order your report now for swift delivery, visit the link:
https://www.thebusinessresearchcompany.com/report/spa-global-market-report
Segmentation & Regional Insights
The spa market covered in this report is segmented –
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
North America was the largest region in the spa market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the spa market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Intrigued to explore the contents? Secure your hands-on a free sample copy of the report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=6251&type=smp
Major Driver Impacting Market Growth
Rapid urbanization is expected to propel the growth of the spas market. Urbanization refers to the population movement from rural to an urban setting and increasing human population densities in urban areas. Changing lifestyles and rising stress levels associated with rising urbanization are promoting demand for destination spas and spa getaways. For instance, according to the Department of Economic and Social Affairs, United Nations, 68% of the world’s population i.e., 2.5 billion people are projected to live in urban areas by 2050. Therefore, rapid urbanization will drive the growth of the spa market.
Key Industry Players
Major companies operating in the spa market report are Miraval Spa, Spa Montage, Hot Springs Resort & Spa, Hyatt Pure Spa, The Ritz-Carlton Spa, Clarins Group, Exhale Spa, Omni Hotels & Resorts, Aman Spa, Anantara Spa, Six Senses Hotels Resorts Spas, Banyan Tree Spa, Grand Resort Bad Ragaz AG, Massage Envy Franchising LLC, Canyon Ranch, Rancho La Puerta, Elemis, Marriott International Inc., Mandara Spa, Bliss Spa, Kersten Florian International, Harrison Hot Springs Resort, Jade Mountain Resort, COMO Shambhala, Emirates Palace, Four Seasons Hotels Limited, Lanserhof GmbH, Planet Beach Franchising Corporation, Mandarin Oriental Hotel Group, Chuan Spa
The spa market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
.
.
.
27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
Explore the trending research reports from TBRC:
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: [email protected]
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
