Press release
Spa Resorts Market Anticipated To Witness Robust Growth, Surpassing $116.36 Billion By 2029
Spa Resorts Market
What Is the Current Spa Resorts Market Size and Its Estimated Growth Rate?
The spa resorts market has grown steadily in recent years. It is projected to grow from $82.71 billion in 2024 to $88.73 billion in 2025, with a CAGR of 7.3%. This growth can be attributed to the growing consumer interest in health and wellness, higher disposable incomes, a rising focus on mental health and stress management, the increase in global tourism, and a larger aging population.
The spa resorts market is forecasted to reach $116.36 billion by 2029, growing at a CAGR of 7.0%, propelled by demand for wellness-focused experiences, personalized treatments, work-life balance, and enhanced hygiene standards. Notable trends include AI and VR integration, retreats for digital detox, wearable health tech, and incorporation of local cultural elements.
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How Are Emerging Segments Shaping the Spa Resorts Market Landscape?
The spa resorts market covered in this report is segmented -
1) By Spa Type: Salon Or Day Or Club Spa, Medical Spa, Hotel Spa, Destination Spa, Mineral Spa, Other Spa Types
2) By Type Of Resort: Beach Resorts, Mountain Resorts, Health And Wellness Resorts, Other Types Of Resorts
3) By Tourist Type: Domestic, International
4) By Booking Channel: Phone Booking, Online Booking, In Person Booking
5) By End User: Male, Female
Subsegments:
1) By Salon Or Day Or Club Spa: Day Spa, Club Spa, Wellness Centers
2) By Medical Spa: Aesthetic And Cosmetic Treatments, Anti-Aging And Skin Care Treatments, Detox And Rejuvenation Services
3) By Hotel Spa: Luxury Hotel Spas, Resort Spas, Business Hotel Spas
4) By Destination Spa: Wellness Retreats: Holistic Health Spas, Nature-Immersive Or Eco-Friendly Spas
5) By Mineral Spa: Hot Springs Spas, Thermal Bath Spas, Mud And Mineral Bath Spas
6) By Other Spa Types: Ayurveda Spa, Hammam Or Turkish Bath, Cryotherapy Or Ice Spas, Floatation Therapy Spas
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Which Growth Factors Are Influencing Spa Resorts Market Expansion?
The growing emphasis on health and wellness is likely to drive the expansion of the spa resorts market in the future. Health and wellness are connected to physical, mental, and emotional well-being, achieved through a balanced lifestyle, good nutrition, exercise, and preventive care. Rising awareness of chronic diseases, mental health, medical advancements, and preventive care contributes to the focus on health and wellness. Spa resorts play a vital role by offering therapeutic treatments and wellness programs. According to the Global Wellness Institute, the global wellness economy grew 24.4%, reaching $5.6 trillion in 2022, up from $4.5 trillion in 2020, showing that the growing health and wellness trend will boost the spa resorts market.
Who Are the Dominant Players Across Different Spa Resorts Market Segments?
Major companies operating in the spa resorts market are Marriott International Inc., Hilton Worldwide Holdings Inc., Hyatt Hotels Corporation, Four Seasons Hotels Limited, InterContinental Hotels Group PLC, Rosewood Hotel Group, Mandarin Oriental Hotel Group, Radisson Hotel Group, ME SPE Franchising LLC, The Ritz-Carlton Hotel Company LLC, Woodhouse Spas, Six Senses Hotels Resorts Spas, Banyan Tree Hotels & Resorts, Mandara Spa, Rancho La Puerta Inc., Hershey Entertainment & Resorts Company, Royal Champagne Hotel & Spa, Lanserhof Group, Fairmont Hotels & Resorts, Jade Mountain Resort, Gaia Retreat & Spa, Hand and Stone Franchise Corporation, AYANA Hospitality, Planet Beach Franchising Corporation
What Trends Are Driving Growth in The Spa Resorts Market?
Leading companies in the spa resorts sector are prioritizing the integration of advanced technologies, such as hospitality tech, to improve the guest experience and increase revenue opportunities. The integration of such technologies into spa reservation systems streamlines booking, enhances customer interactions, and boosts operational efficiency. For example, in May 2024, Revinate, a U.S.-based hospitality tech company, partnered with Book4Time, a Canadian software firm. This collaboration integrates hotel and spa reservation data, enhancing personalized marketing, guest communication, and KPI reporting, along with providing cloud security for data protection. These advancements support data-driven insights, operational improvements, and real-time revenue management, boosting guest loyalty.
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Which Geographic Regions Are Expected to Dominate the Spa Resorts Market in the Coming Years?
North America was the largest region in the spa resorts market in 2023. The regions covered in the spa resorts market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Spa Resorts Market?
2. What is the CAGR expected in the Spa Resorts Market?
3. What Are the Key Innovations Transforming the Spa Resorts Industry?
4. Which Region Is Leading the Spa Resorts Market?
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