Published On : Dec 06, 2018
The global spa market was valued at US$ 88.53 Billion in 2017, according to Spa Report, by Spa Type (Salon/Day/Club Spa, Medical Spa, Hotel Spa, Destination Spa, Mineral Spa and Others) and by Region (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa), published by Coherent Market Insights. The Spa market is projected to reach US$ 145.75 Billion by 2025, exhibiting a CAGR of 5.9% during the forecast period.
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Browse 56 market data tables* and 10 figures* on Spa Market” - Global forecast to 2025.
Key Trends and Analysis of the Spa Market:
- People across the globe are focused towards their good health. So, parents are focusing on not only their own health but their children’s health also. For the development of life long wellness, parents are taking their kids to spas to treat child obesity. Major destination and resort spa have also recently started separate spas for kids, which offers baby massage classes for new parents. For instance, Schloss Elmauin Germany and the new Disney Aulani resort in Hawaii offers a special spa designed exclusively for kids and teens, and a host of other family-oriented services
- Furthermore, baby spa is gaining significant traction and spa owners are offering kid friendly services. For instance, Sundae spa in the U.S. offer treatments named such as ice cream pedicures and starfish sparkle manicures.
- Innovative technologies such as flotation therapy, acupuncture, acupressure, and viberacoustic bath are gaining significant traction among customers. For instance, Miraval resort & spa, located in Tucson, Arizona, is offering a unique treatment called Taiz Sensorium that combines aromatherapy, massage, and sound. Guests listen to a sound track ranging from sounds of nature to composed rhythmic and instrumental music while vibrating wooden balls are applied to shoulders, neck, and other pressure points.
Key Takeaways of the Market:
- The Americas spa market was valued at US$ 21.76 Billion in 2012, and is projected to increase to US$ 42.02 Billion by 2025, witnessing a CAGR of 5.3% during the forecast period.
- Rising spending on spas owing to factors such as increasing consumer inclination towards wellness and presence of prominent spa franchises such as Massage Envy, Elements Massage, and Hand & Stone in the region.
- According to International Spa Association, U.S. Spa Industry Study 2016, in 2015, there were 16,700 day spas with 1.8% increase over 2014, followed by resort / hotel spas and medical spas.
- Salon/Day/Club segment accounted for a market share of 40.83% in 2017, in the global spa market.
- Day/Club spa offers services to clients on a day use basis. Club spas are similar to day spas, however, primary purpose of club spa is fitness. Hence are operating within a sports, recreational or social club facility. Salon spas are also similar in nature, however, operate out of facilities that provide beauty services (such as hair, make-up, etc.).
- Several economies in Europe are adopting innovative marketing and development strategies for growth of the spa market. For instance, in 2014, a pilot initiative in the Auvergne region of France developed traditional, medical-oriented thermal towns into stations de plein santé, which provides a wide range of wellness and complementary tourism in order to attract more leisure/ wellness-oriented visitors.
- Key players operating in the global spa market include Four Seasons Hotel limited, Massage Envy Franchising LLC, Emirates Palace, Six Senses Hotels Resorts Spas, Jade Mountain Resort, Gaia Retreat & Spa, Ananda, and Lanserhof Tegernsee
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Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
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