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The wellness tourism market is estimated to grow at a CAGR of 8.93% between 2022 and 2027. The size of the market is forecast to increase by USD 427.46 billion. The growth of the market depends on several factors, including an increase in mental illness, growth in personal wellness awareness, and increasing interest in wellness in the hospitality industry.
This report extensively covers market segmentation by type (domestic and international), application (physical, psychological, and spiritual), and geography (North America, Europe, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The increased cases of mental illnesses are notably driving the market growth, although the wrong perception of wellness tourism among consumers may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The increased cases of mental illness are notably driving the market growth. Some common forms of mental illness are stress, anxiety, anxiety, depression, and insomnia. If not addressed in the early stages, it can negatively impact physical health and lead to chronic diseases such as obesity, diabetes, heart disease, and cancer. Stress can have a negative impact on a person's lifestyle and health. For example, 20% of US adults experience stress and different mood disorders such as depression and bipolar disorder every year. However, awareness of preventing these diseases and maintaining a healthy lifestyle is growing among younger generations. People indulge in relaxing activities.
Workplace stress is a leading cause of overall stress and depression among adults who struggle to make a living. According to the CDC, employee absenteeism costs employers USD 225.8 billion in lost productivity each year. Large companies focus on vacation programs to reduce employee stress. They organize national wellness tours that engage employees in a variety of recreational activities and help them rejuvenate.
The emergence of online wellness aggregators is a key trend influencing the wellness tourism market growth. The pervasiveness and wide access of the Internet has benefited this market as small online businesses have emerged that focus on gathering information about wellness travel and accommodation. Using the Internet to create online stores and track user preferences is an upcoming trend in this market. This will further drive the growth of hotels and other wellness centers that meet customer expectations. Customers around the world can access information online and decide which services they need based on reviews of specific services and wellness centers. Therefore, the growth of SMEs focused on gathering information across service providers is expected to boost the global wellness tourism market in the future.
To support further market growth, customized and easy-to-use digital marketing systems have emerged to improve customer reach. Online wellness aggregators are a positive indicator of the growth of the global wellness tourism market as they offer customer-friendly digital marketing systems to attract new customers.
The wrong perception of wellness tourism among consumers is challenging the wellness tourism Market. Wellness and leisure activities such as mineral baths, sports, and spiritual practices for personal rejuvenation are considered an elite market. People perceive that spa facilities are charged on top of regular rates and are only offered by luxury hotels. Regional surcharges apply for domestic travelers, but international travelers expect treatments to be proportional to the cost of their spa package.
Wellness tourism is a demanding market where health and wellness packages are combined with the best environments, cultural destinations, and gastronomic experiences, and these services are expensive to acquire. Therefore, travelers who choose these wellness packages expect luxury travel. This recognition is also present with the entry into the luxury hotel industry and increased advertising. Government initiatives to promote wellness tourism in emerging countries, such as South Asian countries with a rich heritage, are another reason for the popularity of this type of tourism. Economic expansion and burgeoning middle-class growth, especially in Asian countries, can motivate people in the region to undertake wellness travel and improve their health and well-being.
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Wellness Tourism Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Accor S.A: The company offers different wellness tourism services such as steam baths, destination relaxation, and other brisker treatments.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the domestic segment will be significant during the forecast period. Domestic wellness tourism involves traveling within the country to achieve better mental and physical health. The segment dominates the global wellness tourism market. The majority of the market segment is dominated by primary wellness travelers whose sole goal is to achieve wellness through various activities. Most of these travelers are looking for spa and beauty treatments.
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The domestic segment was valued at USD 374.12 billion in 2017 and continued to grow until 2021. Spas, beauty, and anti-aging therapies contribute nearly USD 1 trillion to the global wellness industry. The availability of these treatments in the domestic region has increased the number of domestic spa travelers, contributing to the growth of the global spa tourism market.
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North America is estimated to contribute 31% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
The United States and Canada are the countries with the highest spending on health and wellness, generating a huge amount of income from wellness tourism. The availability of spa treatments, anti-aging treatments, and a burgeoning large fitness-conscious population are the main factors contributing to health and wellness spending in the region. Increasing awareness of the prevalence of diseases contributes to the growth of the wellness tourism market in the region. A healthy consumer profile and changing demographics in the United States make up 23% of the total U.S. population actively participate in health and wellness programs. All this is driving the growth of the market.
The region's 2020 wellness tourism market has been impacted by the COVID-19 pandemic. Curfews and travel restrictions have reduced demand for wellness tourism in the region. During the COVID-19 lockdown, various spas, yoga centers, and resorts were closed. In addition, many people lost their jobs, affecting purchasing power and wellness tourism. However, the North American wellness tourism market is expected to recover faster than other parts of the world as most of the US population is fully vaccinated. In 2021, international flights will reach pre-COVID-19 utilization rates. Providers operating in the region have also added significantly to their business development.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Technavio categorizes the global wellness tourism market as part of the global leisure facilities market within the overall hotel, restaurant and leisure market. The global leisure facilities parent market includes companies that operate sports and leisure facilities such as fitness centers, stadiums, golf courses and amusement parks. Technavio calculates the global market size of the hotel, restaurant and leisure industry based on the combined revenue of the casino and gaming businesses. Hotels, resorts, cruise ships.
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Wellness Tourism Market Scope |
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Report Coverage |
Details |
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Page number |
161 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 8.93% |
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Market growth 2023-2027 |
USD 427.46 billion |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
7.89 |
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Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
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Performing market contribution |
North America at 31% |
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Key countries |
US, China, Japan, Germany, and France |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Accor S.A., Cal A Vie Health Spa, Canyon Ranch, Clinique La Prairie, Four Seasons Hotels Ltd., Gaia Retreat and Spa, Hand and Stone Franchise Corp., HOT SPRINGS RESORT and SPA, Hyatt Hotels Corp., Intrepid Group Pty Ltd., Jade Mountain, Kempinski Hotels SA, Lanserhof Management GmbH, Marriott International Inc., Mekosha, Osthoff Resort, Rancho La Puerta Inc., Red Carnation Hotels UK Ltd., Six Senses Hotels Resorts Spas, and Wyndham Hotels and Resorts Inc. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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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. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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