In fiscal year 2023, the worldwide professional spa services market is estimated to be valued US$ 114.88 billion, up from US$ 109.00 billion in fiscal year 2022. The market is predicted to increase at a 5.4% CAGR from 2023 to 2033, reaching a value of US$ 194.39 billion by the end of 2033.
Professional spa services are a marketing phenomenon that provides health management and body-soothing amenities. Among the therapeutic treatments provided are massages, body cleanses, steam baths, beauty services, sauna baths, manicures, and pedicures. According to this, professional spa services that offer individualized premium and super-premium perspectives through a variety of wellness programs and therapies are gaining popularity as they widen their customer base to include those who want to relax.
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Other economic growth drivers include the availability of natural and herbal treatments, as well as flotation therapy procedures, as well as the growing use of innovative advertising tactics on social media to improve brand placement.
According to the UK Spa Association’s survey on the impact of COVID-19 on the spa industry, 80.6% of UK participants working in the market stated that their infrastructures were closed down during the first half of 2020, while 31.1% of survey respondents said they expect total revenue to decrease by 51%. However, 80% of consumers, according to the same source, were ready to visit these service facilities either immediately or within the next several months when the lockdown was removed.
Competitive Landscape:
The existence of a huge number of international firms validates the global market. The bulk of these businesses are significantly reliant on partnerships, collaborations, mergers, and acquisitions. The following are some of the most recent developments by significant participants.
Kempinski Hotels S.A. bought Resense Spa S.p.A. in March 2021 to supply its clientele with high-end spa services.
In October 2020, Hilton Hotels & Resorts will open a new hotel dubbed ‘DoubleTree’ in Rajasthan, India, with fitness and spa amenities.
The Hyatt Hotels Corporation announced in February 2023 that the Hyatt Regency Scottsdale Resort & Spa at Gainey Ranch will be renamed Grand Hyatt Scottsdale Resort & Spa in late 2024.
Key Players:
- China liangtse wellness spa
- Clarins group
- Four Seasons Hotels Limited
- Gaia Retreat & SPA
- GRAND AMERICA HOTELS & RESORTS
- Hot Springs Resort & Spa
- Hyatt hotels corporation
- Jade Mountain
- Lanserhof
- Planet Beach
- Rancho La Puerta
- Rosewood Hotels
- Six senses hotel resort and spa
- Woodhouse Spa
- Zimi Home Spa test
- Kempinski Hotels S.A
- Hilton Hotels & Resorts
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Regional Analysis:
North America will be the dominant region in the professional spa service market by 2022. In 2023, the North American market is estimated to account for 24% of the worldwide market. The North American market is largely driven by an increase in the number of luxurious facilities and services, as well as an increase in the popularity of full-body massage and aesthetic treatments in the United States and Canada.
According to the ‘Massage Profession Research Report 2019′ of the American Massage Therapy Association, roughly 47.5 million people in the United States received a total of 214 million massages in 2018. This statistic has increased from the 179 million massages given to 47.1 million people in 2017.
The European market is expected to maintain its leading position as citizens’ disposable income grows. In 2023, the European market is estimated to account for 37% of the worldwide market. heightened healthcare spending as a result of the region’s heightened well-being consciousness also adds to a stronger market presence.
Furthermore, increased travel and tourist activities in European countries is driving regional market growth. According to the Bank of Italy’s ‘Survey on International Tourism,’ published in June 2019, overall international travel costs in Italy in 2018 were estimated at US$ 47.9 billion, a 6.5% increase over 2017.
Key Segments of Industry:
- By Services :
- Beauty and Grooming
- Massage
- Physical Fitness
- Others
- By Type :
- Day/Salon Spa
- Destination/Health Resorts
- Hotel/Resort Spas
- Medical Spas
- Thermal/Mineral Springs Spas
- Others
- By Customer Orientation :
- Male
- Female
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