Press release
With 12.6% CAGR, Spa Market Size to Reach US$ 91.2 Billion 2022-2027
Spa Market Report
What are the growth prospects of the spa industry?
The global spa market size reached US$ 44.6 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 91.2 Billion by 2027, exhibiting a growth rate (CAGR) of 12.6% during 2022-2027.
What is a spa?
Spa refers to a commercial enterprise that provides personalized wellness treatments for body relaxation and health management. These services usually include restorative treatments, such as body scrub and massages, steam baths, sauna baths, facials, manicures and pedicures. Spas are efficiently designed to promote fitness, health, and peace of mind to their customers. Moreover, they are beneficial in boosting immunity, treating medical ailments, managing stress, detoxifying the body, improving blood circulation, and weight management.
Impact of COVID-19:
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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What are the major market drivers in the spa market?
The global spa market is primarily being driven by the increasing need to maintain a healthy mental and physical lifestyle due to a rise in the number of various health problems, such as stress, anxiety and depression among individuals. This factor is further supported by rapid urbanization and the hectic schedules of the working population. Moreover, the growing availability of personalized, natural, and organic treatments and floatation therapies to promote relaxation and healing of the skin is acting as another growth-inducing factor. The market is also driven by constant developments in spa services, including the advent of hybrid spa technology that utilizes its gas generated hybrid system to maintain the temperature of the spa, thus minimalizing the use of carbon and other chemicals. Other factors, such as the expansion of the wellness tourism industry, rising consumer expenditure capacities, and the growing trend of medical spa, are creating a positive outlook for the market.
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Report Segmentation:
The report has segmented the market into the following categories:
Breakup by Type:
Salon Spa
Hotel and Resort Spa
Medical Spa
Destination Spa
Thermal Spring Spa
Others
Breakup by End User:
Male
Female
By Geography:
North America (United States, Canada)
Europe (Germany, France, United Kingdom, Italy, Spain, Others)
Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
List of Major Key Players:
Canyon Ranch Inc
Emirates Palace
Four Seasons Hotels Limited
Grand Resort Bad Ragaz AG
Harrison Hot Springs Resort & Spa Corp
Lanserhof GmbH
Marriott International Inc
Massage Envy Franchising LLC
Planet Beach Franchising Corporation
Rancho La Puerta Inc
Six Senses Hotels Resorts Spas (InterContinental Hotels Group)
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