South Korea Spa Market Summary, Competitive Analysis and Forecast to 2027
Summary
Spa in South Korea industry profile provides top-line qualitative and quantitative summary information including: market share, market size (value and volume 2017-22, and forecast to 2027). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
Key Highlights
- A spa is a facility that promotes well-being by providing therapeutic and other professional services aimed at renewing the body, mind, and spirit. Increased investment in technological advancements to provide personalized solutions and enhance the consumer experience is one of the major factor driving the market growth. Growing awareness of self-care and demand for stress relief and relaxation aids is another factor driving the growth.
- The South Korean spa market had total revenues of $1,471.2 million in 2022, representing a compound annual growth rate negative (CAGR) of 1.9% between 2017 and 2022.
- The day/club/salon spa segment accounted for market's the largest proportion in 2022, with total revenues of $754.7 million, equivalent to 51.3% of the market's overall value.
- The South Korean spa market is driven by various macroeconomic factors, including urbanization, evolving lifestyles, rising disposable income, and population growth.
- Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the spa market in South Korea
- Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the spa market in South Korea
- Leading company profiles reveal details of key spa market players’ global operations and financial performance
- Add weight to presentations and pitches by understanding the future growth prospects of the South Korea spa market with five year forecasts by both value and volume
- What was the size of the South Korea spa market by value in 2022?
- What will be the size of the South Korea spa market in 2027?
- What factors are affecting the strength of competition in the South Korea spa market?
- How has the market performed over the last five years?
- Who are the top competitors in South Korea's spa market?
- 1 Executive Summary
- 1.1. Market value
- 1.2. Market value forecast
- 1.3. Category segmentation
- 1.4. Geography segmentation
- 1.5. Market rivalry
- 1.6. Competitive landscape
- 2 Market Overview
- 2.1. Market definition
- 2.2. Market analysis
- 3 Market Data
- 3.1. Market value
- 4 Market Segmentation
- 4.1. Category segmentation
- 4.2. Geography segmentation
- 5 Market Outlook
- 5.1. Market value forecast
- 6 Five Forces Analysis
- 6.1. Summary
- 6.2. Buyer power
- 6.3. Supplier power
- 6.4. New entrants
- 6.5. Threat of substitutes
- 6.6. Degree of rivalry
- 7 Competitive Landscape
- 7.1. Who are the leading players?
- 7.2. What are the strengths of the leading players?
- 7.3. What have been the recent developments in the market?
- 8 Company Profiles
- 8.1. The Spa by Grand Hyatt Seoul
- 8.2. The Spa at Four Seasons Hotel Seoul
- 8.3. JW Marriott Dongdaemun Square Seoul
- 8.4. Conard Seoul
- 9 Macroeconomic Indicators
- 9.1. Country data
- 10 Appendix
- 10.1. Methodology
- 10.2. Industry associations
- 10.3. Related GlobalData research
- About GlobalData
- List of Tables
- Table 1: South Korea spa market value: $ million, 2017–22
- Table 2: South Korea spa market category segmentation: % share, by value, 2017–2022
- Table 3: South Korea spa market category segmentation: $ million, 2017-2022
- Table 4: South Korea spa market geography segmentation: $ million, 2022
- Table 5: South Korea spa market value forecast: $ million, 2022–27
- Table 6: The Spa by Grand Hyatt Seoul: key facts
- Table 7: The Spa at Four Seasons Hotel Seoul: key facts
- Table 8: JW Marriott Dongdaemun Square Seoul: key facts
- Table 9: Conard Seoul: key facts
- Table 10: South Korea size of population (million), 2018–22
- Table 11: South Korea gdp (constant 2005 prices, $ billion), 2018–22
- Table 12: South Korea gdp (current prices, $ billion), 2018–22
- Table 13: South Korea inflation, 2018–22
- Table 14: South Korea consumer price index (absolute), 2018–22
- Table 15: South Korea exchange rate, 2018–22
- List of Figures
- Figure 1: South Korea spa market value: $ million, 2017–22
- Figure 2: South Korea spa market category segmentation: $ million, 2017-2022
- Figure 3: South Korea spa market geography segmentation: % share, by value, 2022
- Figure 4: South Korea spa market value forecast: $ million, 2022–27
- Figure 5: Forces driving competition in the spa market in South Korea, 2022
- Figure 6: Drivers of buyer power in the spa market in South Korea, 2022
- Figure 7: Drivers of supplier power in the spa market in South Korea, 2022
- Figure 8: Factors influencing the likelihood of new entrants in the spa market in South Korea, 2022
- Figure 9: Factors influencing the threat of substitutes in the spa market in South Korea, 2022
- Figure 10: Drivers of degree of rivalry in the spa market in South Korea, 2022
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