Spa Market Size
The spa market was worth $54.6 billion in 2022 and is expected to grow at a rate of more than 11.5% per year until 2032. As disposable income rises across different socioeconomic groups, spa services become more accessible.
More financial flexibility means that more people can enjoy spa treatments that used to be thought of as just for the wealthy. This economic empowerment is not only bringing in more customers for the firm, but it is also making the sector more diverse and welcoming.
| Report Attribute | Details |
|---|---|
| Base Year | 2022 |
| Spa Market Size in 2022 | USD 54.6 Billion |
| Forecast Period | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR | 11.5% |
| 2032 Value Projection | USD 168 Billion |
| Historical Data for | 2018 to 2022 |
| No. of Pages | 295 |
| Tables, Charts & Figures | 389 |
| Segments covered | Service Type, Spa Type, Customer Preference, Age Group, End-user, and Region |
| Growth Drivers |
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| Pitfalls & Challenges |
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The industry's growth is due to more and more people wanting to explore wellness services. People are looking for spa treatments like massages and facials, as well as holistic health experiences, to help them relax, relieve stress, and feel better overall.
Running a spa may be very expensive because it requires trained workers, high-quality skincare and wellness products, regular maintenance of equipment, and the development of a beautiful and comfortable space. If these expenditures aren't controlled properly, they can hurt profit margins and make it harder for spa businesses, especially smaller ones, to offer reasonable prices while still providing good service. Finding the right balance between keeping costs down and providing great service is essential for long-term prosperity.
COVID-19 Impact
The COVID-19 pandemic had a very bad effect on the spa market. Lockdowns, travel restrictions, and health concerns caused spas to close for a short time, which led to a drop in demand for spa services. But tourism is coming back after the pandemic. The rise in tourism will lead to a revived interest in wellness and relaxation services, as tourists look for ways to change their lives after extended periods of stress.
Spa Market Trends
Hey! You know how people are so into taking care of their skin these days? Well, it's good for the spa industry. It fits perfectly! Prada, for example, came up with their Prada Skin and Prada Color ranges just last year. This was the first time they had ever made makeup and skin care products. And that's precisely what people wanta strategy to take care of their skin that is unique to them. It fits in well with what Prada stands for as a brand. Spas that offer tailored advise and great treatments will make a lot of money as more and more people care about their skin. They can help people reach their skincare objectives and make even more money. It's a win-win!
Spa Market Analysis
There are several kinds of services available at spas, such as massages, facials, body cleanses, and even medical and cosmetic procedures. But the massage therapy aspect is really taking off and increasing quickly. People are investing in innovative and high-tech massage therapy firms, which is making the whole industry bigger and better. These investments are changing the way people enjoy spas by adding new technology. For instance, Aescape, a tech business, got $30 million in investment in November 2022. Aescape makes interesting machines for automated massage therapy that gather information to make your massage more personal. Aescape got the money from big investors including Valor Siren Ventures and Valor Equity Partners, which were early backers of Tesla and SpaceX.
There are different types of spas, such as day spas, resort/hotel spas, medical spas, destination spas, wellness retreats, and others. In 2022, the market for resort and hotel spas made about $19 billion. The growth of the resort/hotel spas industry is being driven by more tourist attractions. Wyndham properties & Resorts, a global leader in hotel franchising with almost 9,100 properties in more than 95 countries, opened the Ajul Luxury Hotel & Spa resort in June 2023. The opening of these new luxury hotel and resort spas will help the spa sector thrive by 2032.
In 2022, North America had the most share of the spa market, with over 35%. Wellness was being added to many parts of the spa experience. Spas were offering holistic wellness programs that included exercise courses, mindfulness sessions, nutritional advice, and other things along with traditional treatments. This all-in-one method was meant to help with both physical relaxation and mental and emotional health. Spas were beginning to use technology to make their customers' experiences better. This featured online booking systems, smartphone apps for choosing services, and even wellness tracking gadgets that could make individualized suggestions based on clients' data.
Spa Market Share
Major players operating in the spa market are
- Marriott International
- Thalasso Spa
- ESPA
- Mandarin Oriental Hotel Group
- Canyon Ranch
- The BodyHoliday
- Six Senses
Spa Industry News
- In August 2023, Artisan's Rejuvenation Med Spa, a prominent medical spa in the Brazos Valley, introduced CellSound Aesthetics, it’s latest groundbreaking & non-invasive treatment that revitalizes one’s innate beauty through facial rejuvenation and body sculpting.
- In August 2022, AKARYN Hotel Group, an esteemed luxury boutique hotel chain in Asia, revealed its plan to launch the third addition to the Aleenta Resort luxury boutique resorts collection. Encompassing 45 rooms, a pool, a bar, a lounge, a restaurant, a spa, a wellness center, and an array of personalized health & wellness programs & retreats, this new property was set to enrich the brand’s offerings.
The spa market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Million) from 2018 to 2032, for the following segments
By Service Type, 2018 – 2032
- Massage Therapies
- Facial Treatments
- Body Scrubs & Wraps
- Medical & Cosmetic Procedures
- Others
By Spa Type, 2018 – 2032
- Day Spas
- Resort/Hotel Spas
- Medical Spas
- Destination Spas
- Wellness Retreats
- Others
By Customer Preference, 2018 – 2032
- Luxury experience
- Budget-friendly experience
By Age Group, 2018 – 2032
- Below 18
- 19 to 35
- 36 to 50
- Above 50
By End User, 2018 – 2032
- Men
- Women
The above information is provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Nordics
- Asia Pacific
- China
- India
- Japan
- Australia
- Singapore
- Indonesia
- Latin America
- Brazil
- Mexico
- Argentina
- MEA
- UAE
- South Africa
- Saudi Arabia
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