The Global Spa Market size is expected to reach $90 billion by 2027, rising at a market growth of 11. 2% CAGR during the forecast period. A spa is a commercial establishment that offers health management and relaxing services to the public.
New York, Feb. 28, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Global Spa Market By Service Type, By Regional Outlook, Industry Analysis Report and Forecast, 2021 – 2027” – https://www.reportlinker.com/p06241034/?utm_source=GNW
Massages, body cleanse, steam baths, facials, sauna baths, manicures, and pedicures are just a few of the therapeutic treatments available. Day spas, hotel and resort spas, destination spas, medical spas, and mineral or thermal spas are the most prevalent providers. These establishments also provide customized anti-aging and de-stressing treatments that are good for stress management, medical illnesses, body detoxification, weight management, and immune system boosting.
Factors such as the expanding female population and anti-aging spa treatments will add a considerable number of prospective customers to the spa market. For example, Starwood Hotels is building 65 spas in the area, while Hilton Worldwide is planning 124. With the introduction of software-based management systems, massage centres and sauna facilities are becoming stronger by the day, allowing consumers to simply schedule appointments and provide hassle-free transaction alternatives.
Consumer demand for wellness services during vacations is fueling the destination and leisure wellness industries around the world. Following the shift toward a more holistic approach to health and beauty, spas have increasingly begun to diversify and branch into health and aesthetics to support their normal spa services, in addition to the hitherto “alternative” health therapies, such as acupuncture.
Several corporate organisations have been advocating various stress-relieving methods to employees in order to lessen psychological tension, which is also functioning as a driving force for the growth of the market. To meet the increased desire for beauty enhancements among most consumers, some spas now offer a variety of non-invasive cosmetic medical procedures in addition to their standard spa treatments.
COVID-19 Impact Analysis
To combat the virus, governments around the world have imposed strict regulations. Customers had to cancel their trips to the personal care service facilities due to shelter-in-place directives. To prevent virus infection, the government has established social distancing restrictions that require a minimum distance of around 6 feet between two people. Furthermore, in order to provide services such as body massages and facials, the therapist must be in close proximity to the visitor and must touch the guest’s body/face to complete the treatment.
Physical distance regulations cannot be enforced at such facilities because physical touch is required during the treatment procedure. These issues, as well as the discontinuance of services, have negatively impacted the market. Furthermore, hotel/resort and destination spas have been severely harmed as a result of the government’s lockdown laws, which forced these facilities to close.
Market Growth Factors:
Adoption of innovative marketing strategies by the companies
In order to acquire a competitive advantage, market players have continually used creative marketing methods. Companies have been actively involved in promoting spa services not just among the wealthy, but also among the middle class, by altering their price strategies. To improve their brand image, the players have improved their operations and support services. Spa advising, spa education, capital investments, and investments in exquisite and unique cuisines, which attract a large number of tourists, are all major support services.
Rising population of millennial and baby boomers
The market is benefiting from the increased popularity of beauty services among youngsters. Teenagers go to spas before school/college functions or proms because they want grooming treatments that help them in improving their looks and tone their bodies through tough exercise and diet regimens. To attract the attention of teenagers, beauty salon operators are investing in appealing specialty packages, interior décor, lighting effects, and music amenities.
Market Restraining Factors:
Absence of skilled workforce
The spa services business is constrained by a scarcity of skilled workers. Currently, the majority of massage therapists employed in spas in developing nations lack the professional training required to provide effective and pleasant spa services. Furthermore, spas must spend a lot of money to get well-trained therapists. Due to increased market rivalry, spa owners have begun to invest in spa education, such as on-the-job training programmes of international standards, in order to provide superior service.
Service Type Outlook
Based on service type, the spa market is divided into Hotel/Resorts Spa, Day/Salon Spa, Destination Spa, Medical Spa, Mineral Spring Spa and others. In 2020, the day/salon spa segment garnered a significant revenue share in the spa market. The day type spa provides services or procedures, which can be completed within a day and hence, it can help people in saving time as well as money. Owing to which, the growth of this segment would witness a surge during the forecast period.
Region-wise, the spa market is analyzed across North America, Europe, Asia Pacific and LAMEA. Asia Pacific emerged as the leading region in the spa market with the maximum revenue share in 2020. The rise of the tourist industry, particularly in developing nations like as India and China. In addition, Japan, India, and China, among other emerging economies in the area, are witnessing rapid economic expansion. The market will continue to be driven by the region’s thriving hotel industry and the growing popularity of traditional treatments such as Thai massage and Ayurveda.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Planet Beach Franchising Corporation, Four Seasons Hotels Limited (Cascade Investment, L.L.C.), ME SPE Franchising, LLC, Jade Mountain, Mandarin Oriental International Limited (Jardine Matheson Holdings Limited), InterContinental Hotels Group PLC, Clarins Group SA, Lanserhof Group, Belmond Maroma Resort & SPA, and Gaia Retreat & SPA (Tattarang).
Strategies Deployed in Spa Market
Oct-2021: Four Seasons Hotel joined hands with Atmantan Wellness Centre, India’s integrated wellness destination spa. Under this collaboration, the two companies would create a specialized detox programme. Moreover, this collaboration is focused on providing the benefits of integrated wellbeing to city dwellers.
Oct-2021: GAIA Skincare introduced GAIA Affinity Experience at Gaia Spa at Boringdon Hall Hotel, a unique spa journey suitable for people struggling with medical conditions like cancer, MS, Parkinson’s psoriasis, rosacea, anxiety, and burns. This launch is focused on natural wellness. In addition, the GAIA Affinity Experience has been designed to last 40, 60 or 90 minutes, comprising a nurturing foot ritual & individually curated whole-body massage along with homecare and wellness advice.
Dec-2020: Four Seasons expanded its geographical footprints by opening 21,500 square foot Healing Village Spa in Bali at Jimbaran Bay. The new building is spread over water and 70% bigger than previous buildings at 2,000 square meters. In addition, the building has 10 all-suite spa rooms which also include the Illume Room that features a heated quartz-sand bed for inversion therapy & undulating massage, gemstones, colored light therapy & crystal singing bowls.
Dec-2020: The Four Seasons Hotel expanded its geographical footprints by opening SPA, a transformational urban SPA in the city of Madrid. This expansion is aimed to bring an unparalleled new level of health & wellness center in the city. The new building is spread across 1,450 square meters (15,600 square feet) of generous space & crowned by a 46-foot pool. Additionally, the building offers a wide range of exclusive therapies & treatments for guests as well as local visitors.
Sep-2020: Mandarin Oriental Hotel Group came into partnership with The Oberoi Group, a luxury hotel group, headquartered in Delhi. This partnership is focused on creating unique culinary & wellness experiences as well as co-ordinate on sustainability, innovation, and colleague learning and development.
Jan-2020: Clarins Skin Spa expanded its geographical footprints by establishing new spa at Ion Orchard in Singapore. The new spa consits of cosy interior of light oak, lush greens and whites reflecting the belief of the company’s founder that healing begins from within.
May-2019: The Four Seasons Hotel expanded its geographical reach by establishing a new building at Embassy One in Bengaluru. The building features an 11-treatment-room Infuse Spa designed by Yabu Pushelberg. The Four Season includes a 230-bedroom hotel & 105 Four Seasons Private Residences, first of such kinds in India. In addition, the spa is set on the lower level alongside the pool and includes a design aesthetic with light colors & a cool, aqua color theme.
Feb-2019: The Spa at Four Seasons Hotel entered into partnership with Dr Burgener, a unique medical beauty clinic in Switzerland. Under this partnership, the Tene Trinity Square would become the only hotel across the UK to provide Dr Burgener’s face & body treatments at Ten Trinity Square, UK.
Jun-2018: Massage Envy introduced CyMe Boost, a new collection of serums. The launch is aimed to fill up the gap between massage therapy and skincare and serve with benefits of customized skincare for whole body. The launched serums consist of potent ingredients which blend with Massage Envy’s branded massage oils and creams to alleviate various skincare concerns.
May-2017: Clarins expanded its geographical footprints by opening new outlet at standalone store at the King of Prussia mall in Philadelphia. The new outlet’s 1,800 square foot space includes an assortment of the company’s products along with an open spa area where clients can receive skincare consultations & express 30-minute facials.
Scope of the Study
Market Segments covered in the Report:
By Service Type
• Hotel/Resorts Spa
• Day/Salon Spa
• Destination Spa
• Medical Spa
• Mineral Spring Spa
• North America
o Rest of North America
o Rest of Europe
• Asia Pacific
o South Korea
o Rest of Asia Pacific
o Saudi Arabia
o South Africa
o Rest of LAMEA
• Planet Beach Franchising Corporation
• Four Seasons Hotels Limited (Cascade Investment, L.L.C.)
• ME SPE Franchising, LLC
• Jade Mountain
• Mandarin Oriental International Limited (Jardine Matheson Holdings Limited)
• InterContinental Hotels Group PLC
• Clarins Group SA
• Lanserhof Group
• Belmond Maroma Resort & SPA
• Gaia Retreat & SPA (Tattarang)
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