Spa Market Expected to Reach US ~$89.40 billion and CAGR 12.0% by 2028 – Polaris Market Research

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The global Spa Market size is expected to reach USD 89.40 billion by 2028 according to a new study by Polaris Market Research.

The global market is spurring due to some prominent factors such as rapid urbanization and development of the economies coupled with the considerable demand for opting for these facilities for maintaining health and wellness drives the industry growth. Moreover, increasing sedentary lifestyles as well as working professionals’ chaotic schedules to pick these wellness centers for relaxing and relieving stress will further propel the industry’s growth. As a result, spas that embrace modified premium proficiencies through numerous facilities and treatments are gaining huge traction, which boosts the market.

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Based on service type, the hotels/resorts segment has conquered the market with a leading revenue. Owing to the increasing numbers of hotel chains in the international market as well as the rising number of traveling and tourism activities lift the segment growth. While the destination segment is expected to account for spotting the fastest growth rate due to the availability of the varied type of these massages.

The growth is hastening by the growing awareness among people regarding healthy and well routines tied with the rising affordability of these facilities in emerging markets. Emerging economies are also perceiving a significant upsurge in the number of the working population, which is unveiling unhealthy lifestyles and high-stress levels. The requirement for appropriate stress management is essential, which can intensify people’s interest in these services.

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Augmenting consumer inclination towards healthy and standard lifestyles, many people are frequently searching for amenities that can release strain generated due to a busy lifestyle. Accordingly, these services are gaining significant traction, which, in turn, is growing the demand for spa and massage centers.

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Major participants such as Clarins Group, Belmond Maroma Resort & Spa, Emirates Palace Spa, Four Seasons Hotel Limited, Gaia Retreat & SPA, Grand Resort Bad Ragaz AG, Hot Springs Resort & Spa, Jade Mountain, Mandarin Oriental Hotel Group, Lanserhof, Massage Envy, Omni Hotels & Resorts, Marriott International Inc., Planet Beach, Rancho La Puerta Inc, Six Senses Hotels Resorts SPAs, Trailhead SPA. are some of the key players operating in the global spa industry.

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Polaris Market Research has segmented the spa market report on the basis of type, service, end-use, and region:

Spa, Type Outlook (Revenue – USD Billion, 2016 – 2028)

  • Hotel/Resorts
  • Destination
  • Day/Salon
  • Medical
  • Mineral Spring
  • Others

Spa, Service Outlook (Revenue – USD Billion, 2016 – 2028)

  • Massage
  • Beauty/Grooming
  • Physical Fitness
  • Others

Spa, End-Use Outlook (Revenue – USD Billion, 2016 – 2028)

  • Male
  • Female

Browse detailed report with in-depth TOC – Spa Market

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See also  Spa Market Expected to Reach US ~$89.40 Billion and CAGR 12.0% by 2028 - Polaris Market Research

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