Spa Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Spa Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global spa market size reached US$ 50.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 97.0 Billion by 2028, exhibiting a growth rate (CAGR) of 11.6% during 2022-2028.



Spa refers to a commercial establishment that provides health management and body relaxation services. The services offered include a wide range of therapeutic treatments, such as massages, body scrubs, steam baths, facials, sauna baths, manicures and pedicures. They are most commonly provided by day spas, hotel and resorts spas, destination spas, medical spas and mineral or thermal spas. These establishments also offer customizable treatments that have anti-aging and de-stressing effects and are also beneficial for managing stress, medical ailments, detoxifying the body, weight management and boosting the immune system.



Significant growth in the wellness tourism industry is one of the key factors creating a positive outlook for the market. Furthermore, increasing health consciousness among the masses is also driving to the market growth. Due to rapid urbanization, sedentary lifestyles and hectic schedules of working professionals, there is a growing preference for therapeutic spas to reduce anxiety and stress. In line with this, spas offering personalized premium and super-premium experiences through various wellness programs and treatments are also gaining immense traction as they are expanding their customer base to individuals that prefer to relax in a comfortable ambiance. Additionally, the availability of natural and organic procedures and floatation therapies and the increasing utilization of innovative marketing strategies on social media to strengthen brand positioning are acting as other growth-inducing factors. Contemporary spas that provide facial and detoxifying treatments by using organic ingredients, peels and water-based elements that promote natural healing of the skin, along-with the rising expenditure capacities of the consumers, have also augmented the industry growth.



Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global spa market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type and end user.



Breakup by Type:



Salon Spa

Hotel and Resort Spa

Medical Spa

Destination Spa

Thermal Spring Spa

Others



Breakup by End User:



Male

Female



Breakup by Region:



North America

United States

Canada

Asia Pacific

China

Japan

India

South Korea

Australia

Indonesia

Others

Europe

Germany

France

United Kingdom

Italy

Spain

Russia

Others

Latin America

Brazil

Mexico

Others

Middle East and Africa



Competitive Landscape:

The report has also analysed the competitive landscape of the market with some of the key players being Canyon Ranch Inc., Emirates Palace, Four Seasons Hotels Limited, Grand Resort Bad Ragaz AG, Harrison Hot Springs Resort & Spa Corp., Lanserhof GmbH, Marriott International Inc., Massage Envy Franchising LLC, Planet Beach Franchising Corporation, Rancho La Puerta Inc. and Six Senses Hotels Resorts Spas (InterContinental Hotels Group).



Key Questions Answered in This Report:

How has the global spa market performed so far and how will it perform in the coming years?

What has been the impact of COVID-19 on the global spa market?

What are the key regional markets?

What is the breakup of the market based on the type?

What is the breakup of the market based on the end user?

What are the various stages in the value chain of the industry?

What are the key driving factors and challenges in the industry?

What is the structure of the global spa market and who are the key players?

What is the degree of competition in the industry?