Spa Market by Type and Geography - Forecast and Analysis 2021-2025

  • Published: Apr 2021
  • Pages: 120
  • SKU: IRTNTR44687
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The spa market has the potential to grow by USD 22.08 billion during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 6.15%.

This spa market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by type (day/club/salon spa, hotel/resort spa, destination spa, medical spa, and others) and geography (Europe, APAC, North America, South America, and MEA). The spa market report also offers information on several market vendors, including Aspira Spa, Cal-a-Vie Health Spa, Gaia Retreat & Spa, Hand & Stone Franchise Corp., HOT SPRINGS RESORT & SPA, Kempinski Hotels SA, Lanserhof GmbH, Marriott International Inc., ME SPE Franchising LLC, and Rancho La Puerta Inc. among others.

What will the Spa Market Size be in 2021?

Spa-Market-Market-Size-2020-2025

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Spa Market: Key Drivers and Trends

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The growing wellness tourism industry is notably driving the spa market growth, although factors such as fragmented market may impede market growth. To unlock information on the key market drivers and the COVID-19 pandemic impact on the spa industry get your FREE report sample now.

  • The growing wellness tourism industry will fuel the growth of the spa market size.
  • Many people opt for wellness tourism to travel to different countries for their physical, spiritual, and psychological wellbeing.
  • Hectic schedules expose people to stress, bad eating habits, and pollution. These factors further contribute to different health issues like skin problems, obesity, poor immunity, heart problems, and chronic diseases.
  • To improve the quality of life and prevent such health issues, wellness tourism is an appropriate solution. 
  • Wellness tourism creates opportunities for wellness businesses and other businesses, including spas. Hence, the spa market is likely to witness significant growth during the forecast period. 
  • Brand positioning enabling premium pricing for spa services will drive the spa market growth.
  • Spas offering wellness programs and treatments target customers trying to unwind and relax. This leads them to adopt brand positioning strategies to create an image of the brand with its associated services.
  • This helps vendors price their services at a premium, depending on the location, superior facilities, and use of technology-based treatments and services.
  • They often use modern innovative equipment that offers better results and propels the demand for premium spa services.
  • They are investing in advertising campaigns to promote their brands.
  • Hotel spas are among the key premium spa services that many international hotels offer. 

This spa market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. Get detailed insights on the trends and challenges, which will help companies evaluate and develop growth strategies.

Who are the Major Spa Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Aspira Spa
  • Cal-a-Vie Health Spa
  • Gaia Retreat & Spa
  • Hand & Stone Franchise Corp.
  • HOT SPRINGS RESORT & SPA
  • Kempinski Hotels SA
  • Lanserhof GmbH
  • Marriott International Inc.
  • ME SPE Franchising LLC
  • Rancho La Puerta Inc.

 

The spa market is fragmented and the vendors are deploying growth strategies such as strategic alliances with small and regional vendors to compete in the market. Click here to uncover other successful business strategies deployed by the vendors. 

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Download a free sample of the spa market forecast report for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Spa Market?

Spa-Market-Market-Share-by-Region-2020-2025

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33% of the market’s growth will originate from Europe during the forecast period. Germany and France are the key markets for spas in Europe. Market growth in this region will be faster than the growth of the market in North America.

The rise in the working population and growing wellness tourism will facilitate the spa market growth in Europe over the forecast period. To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report.

What are the Revenue-generating Type Segments in the Spa Market?

Spa-Market-Market-Share-by-Type-2020-2025

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The spa market share growth by the day/club/salon spa segment will be significant during the forecast period. Day spas are popular for treatments and facilities during the day. These spas offer beauty and relaxation treatments such as hair treatments, massages, and facials. During the forecast period, many vendors are expected to offer innovative day/club/salon spa services.

Fetch actionable market insights on post COVID-19 impact on each segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the spa market size.

 

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What are the Key Factors Covered in this Spa Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive spa market growth during the next five years
  • Precise estimation of the spa market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the spa industry across Europe, APAC, North America, South America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of spa market vendors

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Spa Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 6%

Market growth 2021-2025

$ 22.08 billion

Market structure

Fragmented

YoY growth (%)

4.30

Regional analysis

Europe, APAC, North America, South America, and MEA

Performing market contribution

Europe at 33%

Key consumer countries

US, China, Germany, France, and Japan

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Aspira Spa, Cal-a-Vie Health Spa, Gaia Retreat & Spa, Hand & Stone Franchise Corp., HOT SPRINGS RESORT & SPA, Kempinski Hotels SA, Lanserhof GmbH, Marriott International Inc., ME SPE Franchising LLC, and Rancho La Puerta Inc.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The spa market growth will increase by $25.48 billion during 2019-2024.
The spa market is expected to grow at a CAGR of 4.41% during 2019-2024.
Technavio has segmented the spa market by type (Day/club/salon spa, Hotel/resort spa, Destination spa, Medical spa, and Others) and geographic (Europe, APAC, North America, South America, and MEA).
Aspira Spa, Clinique La Prairie, Gaia Retreat & Spa, Hand & Stone Franchise Corp., HOT SPRINGS RESORT & SPA, Kempinski Hotels SA, Lanserhof GmbH, Marriott International Inc., ME SPE Franchising LLC, Rancho La Puerta Inc. are a few of the key vendors in the spa market.
APAC will register the highest growth rate of 33.95% among the other regions. Therefore, the spa market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
  • US
  • China
  • Germany
  • Japan
  • France
The key factors driving the spa market growth are:
  • Growing wellness tourism industry
  • Increase in availability of flotation therapy spa services
The spa market vendors should focus on grabbing business opportunities from the day/club/salon spa segment as it accounted for the largest market share in the base year.
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