This report describes and explains the spa market and covers 2018-2023, termed the historic period, and 2023-2028, 2033F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.
The global spa market reached a value of nearly $114 billion in 2023, having grown at a compound annual growth rate (CAGR) of 2.30% since 2018. The market is expected to grow from $114 billion in 2023 to $168.4 billion in 2028 at a rate of 8.11%. The market is then expected to grow at a CAGR of 7.43% from 2028 and reach $241 billion in 2033.
Growth in the historic period resulted from increased disposable income per capita, rise in medical and wellness tourism, influence of social media platforms and increase in demand for personal care products. Factors that negatively affected growth in the historic period included stringent regulations.
Going forward, the increasing aging population worldwide, rise in urban populations, growing demand for anti-aging treatments and products and expansion in the tourism and travel industry will drive the market. Factors that could hinder the growth of the spa market in the future include competition from alternative wellness practices.
The spa market is segmented by service type into massage, beauty/grooming, physical fitness and other service types. The massage market was the largest segment of the spa market segmented by service type, accounting for 40.52% or $46.2 billion of the total in 2023. Going forward, the massage segment is expected to be the fastest growing segment in the spa market segmented by service type, at a CAGR of 8.56% during 2023-2028.
The spa market is segmented by facility type into hotel/resorts spa, destination spa, day/salon spa, medical spa, mineral spring spa and other facility types. The hotel/resorts spa market was the largest segment of the spa market segmented by facility type, accounting for 49.67% or $56.6 billion of the total in 2023. Going forward, the hotel/resorts spa segment is expected to be the fastest growing segment in the spa market segmented by facility type, at a CAGR of 9.37% during 2023-2028.
The spa market is segmented by end user sex into male and female. The female market was the largest segment of the spa market segmented by end user sex, accounting for 74.63% or $85.1 billion of the total in 2023. Going forward, the male segment is expected to be the fastest growing segment in spa market segmented by end user sex, at a CAGR of 9.73% during 2023-2028.
Western Europe was the largest region in the spa market, accounting for 32.4% or $36.9 billion of the total in 2023. It was followed by North America, Asia-Pacific and then the other regions. Going forward, the fastest-growing regions in the spa market will be Africa and the Middle East, where growth will be at CAGRs of 12.32% and 12.00% respectively. These will be followed by South America and Asia-Pacific, where the markets are expected to grow at CAGRs of 11.40% and 8.57% respectively.
The global spa market is fairly fragmented, with a large number of players in the market. The top ten competitors in the market made up to 18.37% of the total market in 2022. Caesars Entertainment Inc. was the largest competitor with an 8.28% share of the market, followed by Four Seasons Hotel Limited with 4.72%, Omni Hotels & Resorts with 2.78%, Clarins Group with 1.84%, Hotel Sofitel Pvt. Ltd. with 0.26%, Shangri-La International Hotel Management Limited with 0.26%, COMO Hotels and Resorts with 0.08%, Mandarin Oriental Hotel Group with 0.06%, Banyan Tree Spa with 0.05% and Aman Spa with 0.05%.
The top opportunities in the spa market segmented by service type will arise in the massage segment, which will gain $23.4 billion of global annual sales by 2028. The top opportunities in the spa market segmented by facility type will arise in the hotel/resorts spa segment, which will gain $32 billion of global annual sales by 2028. The top opportunities in the spa market segmented by end user sex will arise in the female segment, which will gain $37.3 billion of global annual sales by 2028. The spa market size will gain the most in the USA at $11.9 billion.
Market-trend-based strategies for the spa market include opening of new spa and wellness centers to offer revitalizing and relaxing treatments, focus on medical spa software for enhanced efficiency and client experience, strategic partnerships and acquisitions among market players, introduction of supermarket spa to offer beauty treatments alongside a healthy meal and increasing investments to grow and support franchise networks.
Player-adopted strategies in the spa market include focus on strategic partnerships to enhance service offerings and maintain a competitive edge in the luxury hospitality sector, strategic partnerships to extend brand presence and enhance customer experience by integrating premium skincare products into luxury spa offerings and enhancing guest experience and increasing revenue streams through the launch of high-end spa services.
To take advantage of the opportunities, the analyst recommends the spa companies to focus on new spa offerings for holistic wellness, focus on innovative spa concepts, focus on massage and beauty or grooming segments, focus on hotel or resort spa and day or salon spa segments, expand in emerging markets, continue to focus on developed markets, focus on collaborative growth strategies, focus on franchise network expansion, provide competitively priced offerings, engage in social media marketing, continue to use B2B promotions, focus on catering to aging populations and focus on targeting urban populations.
The global spa market reached a value of nearly $114 billion in 2023, having grown at a compound annual growth rate (CAGR) of 2.30% since 2018. The market is expected to grow from $114 billion in 2023 to $168.4 billion in 2028 at a rate of 8.11%. The market is then expected to grow at a CAGR of 7.43% from 2028 and reach $241 billion in 2033.
Growth in the historic period resulted from increased disposable income per capita, rise in medical and wellness tourism, influence of social media platforms and increase in demand for personal care products. Factors that negatively affected growth in the historic period included stringent regulations.
Going forward, the increasing aging population worldwide, rise in urban populations, growing demand for anti-aging treatments and products and expansion in the tourism and travel industry will drive the market. Factors that could hinder the growth of the spa market in the future include competition from alternative wellness practices.
The spa market is segmented by service type into massage, beauty/grooming, physical fitness and other service types. The massage market was the largest segment of the spa market segmented by service type, accounting for 40.52% or $46.2 billion of the total in 2023. Going forward, the massage segment is expected to be the fastest growing segment in the spa market segmented by service type, at a CAGR of 8.56% during 2023-2028.
The spa market is segmented by facility type into hotel/resorts spa, destination spa, day/salon spa, medical spa, mineral spring spa and other facility types. The hotel/resorts spa market was the largest segment of the spa market segmented by facility type, accounting for 49.67% or $56.6 billion of the total in 2023. Going forward, the hotel/resorts spa segment is expected to be the fastest growing segment in the spa market segmented by facility type, at a CAGR of 9.37% during 2023-2028.
The spa market is segmented by end user sex into male and female. The female market was the largest segment of the spa market segmented by end user sex, accounting for 74.63% or $85.1 billion of the total in 2023. Going forward, the male segment is expected to be the fastest growing segment in spa market segmented by end user sex, at a CAGR of 9.73% during 2023-2028.
Western Europe was the largest region in the spa market, accounting for 32.4% or $36.9 billion of the total in 2023. It was followed by North America, Asia-Pacific and then the other regions. Going forward, the fastest-growing regions in the spa market will be Africa and the Middle East, where growth will be at CAGRs of 12.32% and 12.00% respectively. These will be followed by South America and Asia-Pacific, where the markets are expected to grow at CAGRs of 11.40% and 8.57% respectively.
The global spa market is fairly fragmented, with a large number of players in the market. The top ten competitors in the market made up to 18.37% of the total market in 2022. Caesars Entertainment Inc. was the largest competitor with an 8.28% share of the market, followed by Four Seasons Hotel Limited with 4.72%, Omni Hotels & Resorts with 2.78%, Clarins Group with 1.84%, Hotel Sofitel Pvt. Ltd. with 0.26%, Shangri-La International Hotel Management Limited with 0.26%, COMO Hotels and Resorts with 0.08%, Mandarin Oriental Hotel Group with 0.06%, Banyan Tree Spa with 0.05% and Aman Spa with 0.05%.
The top opportunities in the spa market segmented by service type will arise in the massage segment, which will gain $23.4 billion of global annual sales by 2028. The top opportunities in the spa market segmented by facility type will arise in the hotel/resorts spa segment, which will gain $32 billion of global annual sales by 2028. The top opportunities in the spa market segmented by end user sex will arise in the female segment, which will gain $37.3 billion of global annual sales by 2028. The spa market size will gain the most in the USA at $11.9 billion.
Market-trend-based strategies for the spa market include opening of new spa and wellness centers to offer revitalizing and relaxing treatments, focus on medical spa software for enhanced efficiency and client experience, strategic partnerships and acquisitions among market players, introduction of supermarket spa to offer beauty treatments alongside a healthy meal and increasing investments to grow and support franchise networks.
Player-adopted strategies in the spa market include focus on strategic partnerships to enhance service offerings and maintain a competitive edge in the luxury hospitality sector, strategic partnerships to extend brand presence and enhance customer experience by integrating premium skincare products into luxury spa offerings and enhancing guest experience and increasing revenue streams through the launch of high-end spa services.
To take advantage of the opportunities, the analyst recommends the spa companies to focus on new spa offerings for holistic wellness, focus on innovative spa concepts, focus on massage and beauty or grooming segments, focus on hotel or resort spa and day or salon spa segments, expand in emerging markets, continue to focus on developed markets, focus on collaborative growth strategies, focus on franchise network expansion, provide competitively priced offerings, engage in social media marketing, continue to use B2B promotions, focus on catering to aging populations and focus on targeting urban populations.
Table of Contents
1 Executive Summary
6 Market Characteristics
7 Major Market Trends
8 Spa Market - Macro Economic Scenario
9 Global Market Size and Growth
10 Global Spa Market Segmentation
11 Spa Market, Regional and Country Analysis
12 Asia-Pacific Market
13 Western Europe Market
14 Eastern Europe Market
15 North America Market
16 South America Market
17 Middle East Market
18 Africa Market
19 Competitive Landscape and Company Profiles
20 Other Major and Innovative Players
22 Key Mergers and Acquisitions
23 Opportunities and Strategies
24 Spa Market, Conclusions and Recommendations
25 Appendix
Executive Summary
Spa Global Market Opportunities and Strategies to 2033 provides the strategists; marketers and senior management with the critical information they need to assess the global Spa market as it emerges from the COVID-19 shut down.Reasons to Purchase:
- Gain a truly global perspective with the most comprehensive report available on this market covering 15 geographies.
- Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market research findings.
- Benchmark performance against key competitors.
- Utilize the relationships between key data sets for superior strategizing.
- Suitable for supporting your internal and external presentations with reliable high-quality data and analysis
Description
Where is the largest and fastest-growing market for spa? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The spa market global report answers all these questions and many more.The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market’s history and forecasts market growth by geography. It places the market within the context of the wider spa market; and compares it with other markets.
The report covers the following chapters:
- Introduction and Market Characteristics - Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by service type, by facility type and by end user sex.
- Key Trends - Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
- Macro-Economic Scenario - The report provides an analysis of the impact of the COVID-19 pandemic, impact of the Russia-Ukraine war and impact of rising inflation on global and regional markets, providing strategic insights for businesses in the spa market.
- Global Market Size and Growth - Global historic (2018-2023) and forecast (2023-2028, 2033F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional and Country Analysis - Historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison by region and country.
- Market Segmentation - Contains the market values (2018-2023) (2023-2028, 2033F) and analysis for each segment by service type, by facility type and by end user sex in the market. Historic (2018-2023) and forecast (2023-2028) and (2028-2033) market values and growth and market share comparison by region market.
- Regional Market Size and Growth - Regional market size (2023), historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape - Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Other Major and Innovative Companies - Details on the company profiles of other major and innovative companies in the market.
- Competitive Dashboard - Briefs on competitive dashboard of major players.
- Key Mergers and Acquisitions - Information on recent mergers and acquisitions in the market is covered in the report. This section gives key financial details of mergers and acquisitions which have shaped the market in recent years.
- Market Opportunities and Strategies - Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
- Conclusions and Recommendations - This section includes recommendations for spa providers in terms of product/service offerings geographic expansion, marketing strategies and target groups.
- Appendix - This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Markets Covered:
1) By Service Type: Massage; Beauty; Grooming; Physical Fitness; Other Service Types2) By Facility Type: Hotel; Resorts Spa; Destination Spa; Day; Salon Spa; Medical Spa; Mineral Spring Spa; Other Facility Types
3) By End User Sex: Male; Female
Key Companies Mentioned: Caesars Entertainment Inc.; Four Seasons Hotel Limited; Omni Hotels & Resorts; Clarins Group; Hotel Sofitel Pvt. Ltd.
Countries: China; Australia; India; Indonesia; Japan; South Korea; USA; Canada; Brazil; France; Germany; Italy; Spain; UK; Russia
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; spa indicators comparison.
Data Segmentation: Country and regional historic and forecast data; market share of competitors; market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Caesars Entertainment Inc.
- Four Seasons Hotel Limited
- Omni Hotels & Resorts
- Clarins Group
- Hotel Sofitel Pvt. Ltd.
- Shangri-La International Hotel Management Limited
- COMO Hotels and Resorts
- Mandarin Oriental Hotel Group
- Banyan Tree Spa
- Aman Spa
- Zenoti
- SuperSalon
- BeiYang Crea8tive
- BC SoftWear
- Anantara Spa
- Six Senses Hotels Resorts Spas
- COMO Shambhala
- Secret Spa
- Clarins
- Chuan Spa
- Lanserhof GmbH
- Klafs
- Rixos Spas
- Ana Hotels
- Sheraton Grand Krakow
- Douglas
- Massage Envy
- The Woodhouse Day Spa
- Hand & Stone Massage and Facial Spa
- Elements Massage
- Bliss Spa
- Red Door Spa
- Canyon Ranch
- Miraval
- Exhale Spa
- Glen Ivy Hot Springs
- Scandinave Spa
- Ste. Anne's Spa
- Miraj Hammam Spa by Caudalie
- The Spa at the Hazelton
- Elmwood Spa
- Grand Velas Riviera Maya Spa
- Rosas & Xocolate Spa
- Spa Marquis
- Viceroy Los Cabos Spa
- IMAGE Studios
- Kohler Co.
- Sola Salon Studios
- Aveda
- LACES and Hair
- Natura
- Faena
- Sisley Spa
- Dior
- Clinique La Prairie
- Carmel Forest Spa Resort
- Rimonim Mineral Tiberias Spa Resort
- Beresheet Hotel Spa
- Ritz-Carlton Riyadh Spa
- The Spa at Four Seasons Hotel Riyadh
- Talise Spa
- Burj Al Arab
- Emirates Palace
- The Spa at Four Seasons Hotel Doha
- Remède Spa
- The St. Regis Doha
- Kempinski Hotel Barbaros Bay Spa
- Caresse Bodrum
- BOSJES farm
- Transcorp Hotels Plc
- Mangwanani African Spa
- Amani Spa
- Enashipai Resort & Spa
- Sarova Whitesands Beach Resort & Spa
- Sofitel Legend Old Cataract Aswan
- Four Seasons Hotel Cairo at Nile Plaza
- The Wheatbaker Hotel
- InterContinental Lagos
- Kampala Serena Hotel
- Lake Victoria Serena Golf Resort & Spa
Methodology
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 295 |
Published | June 2024 |
Forecast Period | 2023 - 2033 |
Estimated Market Value ( USD | $ 114 Billion |
Forecasted Market Value ( USD | $ 241 Billion |
Compound Annual Growth Rate | 7.7% |
Regions Covered | Global |