Spa Services Market to Grow with a CAGR of 12.75% through 2028
Rising focus on wellness and relaxation,
appeal to both physical and mental health are the factors driving the global Spa
services market in the forecast period 2024-2028.
According
to the TechSci Research report, “Global
Spa Service Market– Global Industry Size, Share, Trends, Competition, Opportunity,
and Forecast, 2018-2028F” The
Spa service industry has evolved into a thriving global market, encompassing a
diverse range of services that cater to mental and physical relaxation and
wellness. The reasons driving the market growth are the increase in
metropolitan regions' hectic lifestyles, the expansion of inbound and outbound
travel for wellness purposes, increased demand from emerging markets, and
awareness.
Globally,
the spa industry is evolving due to shifting interests and lifestyles as well
as rising disposable means. Spa services have become a significant part of
people's life due to the health benefits they give, including stress
alleviation, a reduction in body discomfort, and a sense of peace. The spa
industry is booming globally due to rising interest in self-indulgence and
changing views on spas as investments in one's own improvement. A variety of
treatments for bodily relaxation and health management are offered at spas.
Massages, facials, body cleanses, steam baths, waxing, and nail treatment are
just a few of the services they provide.
Moreover,
The destination and leisure wellness industries are being driven by the
increased customer interest in using wellness services while on vacation.
Following the global shift towards a more holistic approach to health and
beauty, spas have increasingly started to diversify and branch into health and
aesthetics, in addition to the formerly "alternative" health
treatments, including acupuncture, in order to complement their regular spa
services. Many corporate organizations have also been recommending various stress-relieving
practises to employees in order to lessen psychological tension, which is also
functioning as a driving force for market expansion.
The
market is fueled by the fast-paced urban lifestyle, rising demand from emerging
markets, recent advancements in spa services, and surge in teenage demand. Due
to the rising percentage of the elderly population and rising demand from
developing markets, there are many lucrative opportunities in the spa industry.
However, the high cost of trained therapy professionals and low penetration in
developing nations limit market growth.
Moreover,
they are beneficial in managing stress, treating medical ailments, detoxifying
the body, reducing weight, and boosting the immune system. The global spa
services market has witnessed constant innovations such as use of hybrid spa
technology, which utilizes its gas generated hybrid system to keep the spa
heated up. The technology involves lesser usage of carbon and other chemicals,
compared to other such heating systems and is cost effective as well.
Browse over XX market data Figures spread through XX Pages
and an in-depth TOC on the "Spa Services Market.”
The
global Spa service market is segmented based on type, service type, end-user, and
region. Based on service type, the market is divided into massage,
beauty/grooming, physical fitness, and others (hydrotherapy, diet, and others).
Spas are recognized for providing massage services, including full-body, foot,
hot stone, Thai, prenatal, and couple massages accessible as per customer
request, to relax the muscles in the body. However, the increased popularity of
beautification is helping facials, manicures, pedicures, and other grooming
services. Opportunities in the fitness sector are growing as a result of
increased awareness of fitness, which is driving up demand for yoga and
breathing exercises.
Over
the projection period, Europe is expected to hold a dominant spa services
market share, owing to increasing disposable income of the populace. Increased
spending on health owing to increased awareness regarding wellbeing in the
region also contributes to greater market penetration.
Key
market players operating in the global spa service market include:
- Planet Beach
- Hot Springs Resort and Spa
- Four Seasons Hotel Limited
- Massage Envy
- Lanserhof
- Jade Mountain
- Rancho La Puerta
- Mandarin Oriental Hotel Group
- Omni Hotels & Resorts
- Emirates Palace Spa
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“The
global spa market is experiencing significant growth due to a convergence of
several factors that cater to evolving consumer lifestyles, attitudes toward
well-being, and technological advancements. As the importance of well-being
continues to gain prominence in modern society, the spa industry is positioned
to continue its growth by adapting to changing needs and offering will, boost
the spa services market across the globe during the forecasted period.” said
Mr. Karan Chechi, Research Director with TechSci Research, a research-based
global management consulting firm.
“Spa
Service Market– Global Industry Size, Share, Trends, Opportunity, and Forecast,
2018-2028F By Type (Salon Spa, Hotel Spa, Medical Spa,
Destination Spa, Mineral Spa, Others), By Service Type (Massage,
Beauty/Grooming, Physical Fitness, Others (Hydrotherapy, Diet, etc.), By End-User
(Women, Men), By Region, By
Competition Forecast & Opportunities, 2018-2028F, has evaluated the future growth
potential of the global spa service market globally and provides statistics and
information on market structure, size, share, and future growth. The report
provides cutting-edge market intelligence and helps decision-makers to make sound
investment decisions. Besides, the report also identifies the emerging trends
along with essential drivers, challenges, and opportunities present in the
market of spa service globally.
Contact
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Techsci
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