The Spa Resorts Market is anticipated to expand its roots at an average CAGR of 6.7% between 2023 and 2033. The market is expected to have a market share of US$ 166.4 billion by 2033, while it is likely to be valued at US$ 87 billion in 2023
- The increasing per capita income along with the advanced spa features are projected to flourish the market growth. Furthermore, the increase in resorts and spas in emerging economies like China and India is garnering market growth.
- The rise in people going to visit these spa resorts is attributed to the health benefits and mind relaxation. The professional masseuse performing different types of massages and spa therapy sessions is expected to expand the market size during the forecast period.
- People with sleep deprivation and sleep apnea also visit these spa resorts that use different essential oils and elements to detoxify the body. Hence, these spa resorts could decrease the growing stress and rising toxic levels in the human body.
- A surge in alternative treatments and medications suggests spa resorts are also used to limit health issues. Even its effectiveness against chronic disease or pain is being talked about. People with skin-related issues also use spa therapies to nourish their skin pores through various massages.
Calling all Innovators: Gain an Unfair Advantage in the Spa Resorts Market- Download Now! https://www.futuremarketinsights.com/reports/sample/rep-gb-3294
Key Points
- The United States market leads the spa resorts market in terms of market share in North America. The United States region held a market share of 15% in 2022. The growth in this region is attributed to the higher popularity of alternative health practices such as ayurvedic spas, Yoga clubs, and expanding spa resorts with different themes. The North American market held a share of 25% in 2022.
- The German market is another important market in the European region. The market held a market share of 4.0% in 2022. The growth is attributed to the higher adoption of alternative medicine and the government promoting these businesses. The European market held a market share of 20% in 2022.
- The Indian spa resorts market thrives at a CAGR of 14% between 2023 and 2033. The growth is attributed to the increasing per capita income and the presence of ancient Ayurvedic medication.
- The Chinese market also thrives at a CAGR of 6.20% during the forecast period.
- Based on the spa type, medical spas lead the market as they held a share of 19.06% in 2022.
- Based on tourist type, the domestic segment leads the market as it held a market share of 55.0% in 2022.
Competitive Landscape
The key vendors focus on new themes, hiring professional masseuses, and online booking channels. The competitors also merge, acquire, and partner with other companies to increase their supply chain and distribution channel.
Recent Market Developments
Radisson Hotel Group has announced the opening of Radisson Resorts & Spa Hua Hin. The resort offers a scenic view of the beachside and other wonders of Hua Hin.
Four Seasons Hotel Limited has tied up with the Yuan lih construction co. To deliver a new luxury hotel in the heart of Taiwan’s capital.
Tailor-Made Solutions: Customize Your Report to Gain a Competitive Edge in the Spa Resorts Market! https://www.futuremarketinsights.com/customization-available/rep-gb-3294
Key Segments Covered
By Spa Type:
- Salon/Day/Club Spa
- Medical Spa (Prenatal, Fitness, and Therapy)
- Hotel Spa
- Destination Spa
- Mineral Spa
- Others (Pet, Baby, Mobile, and Cruise Ship)
By End User:
- Male
- Female
By Booking Channel:
- Phone Booking
- Online Booking
- In Person Booking
By Tourist Type:
- Domestic
- International
By Key Regions:
- North America
- United States
- Canada
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Europe
- Germany
- United Kingdom
- France
- Spain
- Russia
- Rest of Europe
- Japan
- Asia Pacific Excluding Japan
- China
- India
- Malaysia
- Singapore
- Australia
- Rest of Asia Pacific Excluding Japan (APEJ)
- The Middle East and Africa
- GCC Countries
- Israel
- South Africa
- Middle East and Africa (MEA)
About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
LinkedIn| Twitter| Blogs | YouTube
For Sales Enquiries: sales@futuremarketinsights.com