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Global Spa Market 2023 : SWOT Analysis Of Key Driving Factors For Growing CAGR Value | Canyon Ranch, Emirates Palace, Four Seasons Hotels Limited, Grand Resort Bad Ragaz AG, Harrison Hot Springs Resort
Spa Market
Spa Market Size, Growth Rate, And Forecast
The global spa market size grew from $58.09 billion in 2022 to $64.42 billion in 2023 at a compound annual growth rate (CAGR) of 10.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The spa market size is expected to grow to $95.56 billion in 2027 at a CAGR of 10.4%.
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Spa Market Drivers
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.
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Spa Market Segments
1) By Service Type: Massage, Beauty/Grooming, Physical Fittness, 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
By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Spa market.
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Spa Market Key Players
Major players in the spa market are Canyon Ranch, Emirates Palace, Four Seasons Hotels Limited, Grand Resort Bad Ragaz AG, Harrison Hot Springs Resort, Lanserhof GmbH, Marriott International Inc., Massage Envy Franchising LLC, Planet Beach Franchising Corporation, Rancho La Puerta, Jade Mountain Resort, Hot Springs Resort & Spa, Mandarin Oriental Hotel Group, Omni Hotels & Resorts, and Six Senses Hotels Resorts Spas.
The Business Research Company's "Global Spa Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.
The Table Of Content For The Spa Market Include:
1. Executive Summary
2. Spa Market Characteristics
3. Spa Market Trends And Strategies
4. Spa Market - Macro Economic Scenario
5. Spa Market Size And Growth
……
27. Spa Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Spa Market
29. Spa Market Future Outlook and Potential Analysis
30. Appendix
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