Global Spa Services Market Size To Worth USD 199.19 Billion By 2033 | CAGR of 8.30%
Category: Consumer GoodsGlobal Spa Services Market Size To Worth USD 199.19 Billion By 2033
According to a research report published by Spherical Insights & Consulting, the Global Spa Services Market Size was valued at USD 89.78 Billion in 2023 and is Expected to reach USD 199.19 Billion by 2033, Growing at a CAGR of 8.30% from 2023 to 2033.
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Browse key industry insights spread across 210 pages with 110 Market data tables and figures & charts from the report on the "Global Spa Services Market Size, Share, and COVID-19 Impact Analysis, By Spa (Hotel/Resort Spa and Destination Spa), By Service (Massage Therapies, Body Treatments, Salon Services, and Other), By Type (Affordable and Luxury), By End Use (Women and Men) and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here:https://www.sphericalinsights.com/reports/spa-services-market
The industry that encompasses a wide range of wellness and personal care services with the objectives of relaxation, rejuvenation, and recovery is known as the global spa services market. Massages, facials, body treatments, aromatherapy, hydrotherapy, and other wellness therapies are among the services provided by day spas, hotel spas, medical spas, destination spas, and resort spas. Although still considered a luxury, spa services are gradually making their way into the middle class. Solus Per Aqua, which translates to treatment through water, is the Latin phrase for the service. Since it was believed that water could cure all ailments, these services were initially provided mostly in Europe in antiquity. Thermal spring bathing was used as a kind of therapy in the past. Modern cryotherapy, LED treatment, sound therapy, hydrotherapy, and aromatherapy are just a few of the therapies that have been used as a result of a desire to feel the unification of the body, mind, and spirit. However, Spa services, including memberships, therapies, and treatments, can be expensive, which may deter many clients. People may be deterred from trying new treatments or from frequently using spa services by high pricing structures. The greater cost of most packages, which makes them unaffordable for the average person, may therefore limit market growth.
The hotel/resort spa segment accounted for the highest share in 2023 and is anticipated to grow at a remarkable CAGR during the forecast period.
Based on the spa, the global spa services market is categorized into hotel/resort spa and destination spa. Among these, the hotel/resort spa segment accounted for the highest share in 2023 and is anticipated to grow at a remarkable CAGR during the forecast period. The hotel and resort spa sector is growing rapidly, which may be ascribed to shifting traveler expectations and the increasing integration of wellness options. New trends like IV therapy, cryotherapy, and medically oriented services that expand spa alternatives are also contributing to the industry's growth.
The massage therapies segment dominates the market in 2023 and is projected to grow at a notable CAGR during the forecast period.
Based on the services, the global spa services market is divided into massage therapies, body treatments, salon services, and others. Among these, the massage therapies segment dominates the market in 2023 and is projected to grow at a notable CAGR during the forecast period. The expansion is attributable to the spa services industry, massage treatments are growing in popularity due to their health benefits and increased client demand. To enhance massage experiences, spas are implementing cutting-edge technologies such as touchless wellness loungers and advanced hydrotherapy systems.
The luxury segment held a dominant share in 2023 and is expected to grow at a notable CAGR during the forecast period.
Based on the type, the global spa services market is categorized into affordable and luxury. Among these, the luxury segment held a dominant share in 2023 and is expected to grow at a notable CAGR during the forecast period. Luxury spa services are booming due to the rise of wellness tourism and travelers need for restorative experiences in addition to leisure. Creating demand for high-end spa services like anti-aging and detoxification. Aware of this shift, upscale hotels and resorts have expanded their health offerings and regularly collaborate with top beauty brands, such as the partnership between Augustinus Bader and Bvlgari Hotels & Resorts.
The women's segment held a dominant share in 2023 and is expected to grow at a notable CAGR during the forecast period.
Based on the end use, the global spa services market is classified into women and men. Among these, the women's segment held a dominant share in 2023 and is expected to grow at a notable CAGR during the forecast period. Women continue to dominate the spa industry as younger female clients choose non-surgical beauty services. In particular, women in their 20s and 30s are adopting anti-aging and skin-rejuvenating procedures and spending more money on wellness and cosmetic services. To appeal to this age group, spas are expanding their offerings and focusing on treatments that have both immediate and long-term results.
Europe is anticipated to hold the largest share of the global spa services market over the projected timeframe.
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Europe is anticipated to hold the largest share of the global spa services market over the predicted timeframe. The growing demand from consumers for health activities, particularly thermal therapies like saunas, has led to a boom in the spa business in Europe. The pandemic sparked a renewed interest in mental and physical wellness, as many individuals were keen to visit spas again. Europe is expected to maintain a significant market share for spa services, and the rise can be ascribed to rising levels of disposable income among its population. Increased health spending has resulted from the region's expanding wellness consciousness, which has also boosted market penetration. Additionally, the growth of the regional market is being driven by the expansion of travel and tourism in European countries such as France and Germany.
Asia Pacific region is expected to grow the fastest during the forecast period. Asia-Pacific is the region with the quickest rate of growth in the spa services market. The region is predicted to have a notable increase in revenue transactions, which can be ascribed to the growing number of working professionals and their increasing disposable incomes. Furthermore, individuals are looking for ways to decompress with massages and other beauty spa treatments due to the region's large populations, especially in China and India, as well as the expanding working population and their hectic lifestyles. This is expected to increase the revenue transactions in the global spa industry.
Major key players in the spa services market include, AYANA Hospitality, The Peninsula Hotels, Hyatt Hotels Corporation, Fairmont Hotels & Resorts, Kempinski Hotels, Marriott International, Inc., Aman Group S.a.r.l., The Ritz-Carlton Hotel Company, Mandarin Oriental Hotel Group, Rescue Spa, Other.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Recent Development
- In November 2024, the company expanded its footprint by converting 30 LaVida Massage locations across seven states, including Arkansas, Georgia, and Michigan. This move marked Hand & Stone's entry into Arkansas with its Bentonville location and increased its total spa count from 39 to 40. The conversion strategy included comprehensive training and support for new franchisees and staff, ensuring a seamless transition into the Hand & Stone brand.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global spa services market based on the below-mentioned segments:
Global Spa Services Market, By Spa
- Hotel/Resort Spa
- Destination Spa
Global Spa Services Market, By Services
- Massage Therapies
- Body Treatments
- Salon Services
- Other
Global Spa Services Market, By Type
- Affordable
- Luxury
Global Spa Services Market, By End User
- Women
- Men
Global Spa Services Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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