Enjoy complimentary customisation on priority with our Enterprise License!
The Global Wellness Tourism Market size is estimated to grow by USD 327.56 billion accelerating at a CAGR of 7.55% between 2023 and 2027.
Our report offers in-depth analysis of market drivers, trends, opportunities, challenges, and restraints, with segmentation by Type (domestic and international), Application (physical, psychological, and spiritual), and Geography (North America, Europe, APAC, South America, and Middle East and Africa). Additionally, Technavio provides valuable insights through value chain analysis, parent market analysis, Porter’s Five analysis, vendor analysis, and COVID-19 impact data. The report also includes a thorough analysis of historical market data from 2017 to 2022.
Get Additional Information on this Report, Request Free Sample in PDF
The increase in mental illness is a major factor driving the wellness tourism market growth. Common mental illnesses, including stress, fear, anxiety, depression, and insomnia, can lead to chronic disorders like obesity, diabetes, heart disease, and cancer if not addressed early. Stress, caused by factors like work pressure and societal expectations, affects 20% of US adults annually. Awareness of mental health among the younger generation is increasing, with people engaging in relaxation activities.
Work-related stress impacts productivity, costing employers USD 225.8 billion annually due to absenteeism. To combat mental illnesses, governments and organizations promote awareness through events like Mental Illness Awareness Week in the US. Wellness retreats focusing on mental health contribute to market growth, providing a calm environment for meditation and positive thinking. The increasing prevalence of mental illnesses, coupled with growing awareness and the rise of wellness retreats, is expected to drive market growth.
The emergence of online wellness aggregators is a major wellness tourism market trends. The widespread internet access is advantageous for the wellness tourism market, with small online firms aggregating wellness travel and accommodation information. Emerging trends include using the internet to create repositories and track user preferences, and enhancing hotels and wellness centers that align with customer expectations. This facilitates global access to information, allowing users to make informed decisions based on reviews and enabling like-minded travelers to plan wellness tours together. The growth of small aggregating firms is expected to propel the wellness tourism market, supported by customized and user-friendly digital marketing systems that enhance customer reach and attract new customers.
The perception of wellness tourism as a luxury travel market is a key challenge hindering the market growth. Wellness tourism, encompassing activities like mineral spas, sports, and spiritual practices, is often perceived as an elite market associated with luxury hotels. This perception is fueled by the belief that wellness facilities come at an extra cost and are mainly provided by high-end accommodations. This viewpoint is further reinforced by the entry of luxury hotel chains such as Hyatt, Hilton, and Marriott into the wellness tourism sector.
Although government initiatives in countries like India aim to position them as centers for wellness practices, the prevailing perception associates wellness tourism with luxury services. Despite this, the expanding economy and growing middle-class population in Asian countries may encourage more people to embrace wellness tours for improved health and well-being.
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.
Wellness Tourism Market
By Type
Get a glance at the market contribution of various segments Request Free Sample
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.
North America is estimated to contribute 32% 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.
Wellness Tourism Market
By North America
For more insights on the market share of various regions Request Free Samples
The US and Canada lead in health and wellness spending, driven by factors like spa treatments, anti-aging therapies, and a fitness-conscious population. The wellness tourism market grows due to disease awareness and a proactive approach to health by Generation Z, constituting 23% of the US population. Facial aesthetics, popular among Millennials, fuels growth in beauty enhancement. North America, particularly the US, dominates the spa market, with players targeting Millennials through online platforms. The wellness tourism market in North America, with new entrants like Canyon Ranch and luxury hotels, is set to grow gradually until 2026, despite potential challenges from outbound travels for anti-aging therapies.
The market research 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.
The wellness tourism market 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.
Wellness Tourism Market Scope |
|
Report Coverage |
Details |
Page number |
161 |
Base year |
2022 |
Historic period |
2018 - 2022 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.55% |
Market growth 2023-2027 |
USD 327.56 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
6.98 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 32% |
Key countries |
US, China, Japan, Germany, and France |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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. |
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 |
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 market research report to meet your requirements.
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
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.