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Sauna and Spa Market Flourishes with Rising Wellness Trends - 2024 Global Industry Report
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According to The Business Research Company's, The sauna and spa market size has grown strongly in recent years. It will grow from $3.75 billion in 2023 to $3.97 billion in 2024 at a compound annual growth rate (CAGR) of 5.7%. The growth in the historic period can be attributed to cultural heritage, urbanization and stress, rising disposable income, wellness tourism, and medical benefits.
The sauna and spa market size is expected to see strong growth in the next few years. It will grow to $5.00 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. The growth in the forecast period can be attributed to health consciousness, corporate wellness programs, corporate wellness programs, sustainability and eco-friendly practices, and wellness lifestyle. Major trends in the forecast period include technological advancements, integration of sauna and spa facilities in hotels, resorts, and lodging, adoption of sauna treatments for health maintenance, and personalized spa treatments.
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Market Drivers and Trends:
The rising popularity of wellness tourism is expected to propel the growth of the sauna and spa market going forward. Wellness tourism refers to travel experiences aimed at promoting holistic well-being, encompassing activities such as spa treatments, yoga retreats, and healthy dining options. The growing trend of wellness tourism is driven by an increasing desire for holistic health experiences, stress reduction, and personal rejuvenation. Wellness tourism boosts the demand for sauna and spa services as travelers seek relaxation and rejuvenation, driving business growth and innovation in the industry. For instance, in January 2024, according to the Global Wellness Institute, a US-based nonprofit organization, the global wellness industry was valued at $5.6 trillion in 2022 and is expected to rise at an annual pace of 8.6% to over $8.5 trillion by 2027. The wellness tourism sector in North America reached $266.8 billion in 2022. Additionally, per capita spending on wellness in North America was $5,108 in 2022, an increase from $4,570 in 2021. Therefore, rising wellness tourism is driving the growth of the sauna and spa market.
Major companies operating in the sauna and spa market are focusing their efforts on introducing advanced solutions, such as contrast heat therapy sauna products, to gain a competitive edge in the market. A contrast heat therapy sauna product utilizes alternating hot and cold treatments to enhance blood circulation, reduce inflammation, and promote healing, offering holistic wellness benefits for the mind and body. For instance, in May 2023, Plunge, a US-based cold plunge company, launched the Plunge Sauna, a groundbreaking addition to its product range designed to enhance wellness through heat therapy. This sauna is ideal for modern homes, gyms, or spas, as it complements Plunge's renowned cold plunge, enabling contrast therapy known to enhance blood circulation, alleviate inflammation, and accelerate healing by alternating hot and cold treatments.
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Major Key Players of the Market:
Jaquar Group, Kohler Co, Pentair plc, Roca Sanitario S.A, Fluidra S.A, Harvia Oyj, Scandia Manufacturing Ltd, Sunlighten Inc, Health Mate Sauna Corporation, TyloHelo Group AB, EOS Saunatechnik GmbH, Narvi Oy, Sauna360 Group Oy, Almost Heaven Saunas LLC, Effegibi Srl, BTL Industries Ltd, Inca UK Ltd, Superior Sauna & Steam, QCA Spas Inc, Sanspa Industrial Guangzhou Co. Ltd, Crystal Leisure Swimming Pools Ltd, Aqualine Saunas, Physiotherm GmbH, SAWO Inc.
Sauna And Spa Market 2024 Key Insights:
• The sauna and spa market size is expected to see strong growth in the next few years. It will grow to $5.00 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%.
• The Influence Of Wellness Tourism Driving Growth In The Sauna And Spa Market
• Leading Innovations In The Sauna And Spa Market For Holistic Wellness
• North America was the largest region in the sauna and spa market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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