Spa Market Size - Global Industry, Share, Analysis, Trends and Forecast 2022 – 2030

Spa Market Report Statistics

• Global spa market revenue is estimated to reach USD 153.5 Billion by 2030 with a CAGR of 12.9% from 2022 to 2030
• Asia-Pacific spa market share accounted for over 30% shares in 2021
• Europe spa market growth will register quick CAGR from 2022 to 2030
• Based on service type, resort spa acquired over 36% of the overall market share in 2021
• Changing lifestyle trends will fuel the global spa market value
• Growing luxury resorts is a popular spa market trend that is fueling the industry demand

Impact of COVID-19 on Spa Market Value

Spa tourism has undergone significant transformations in the last few decades. Tourism has been slowed due to the coronavirus pandemic. Most of the hotels, resorts, and restaurants were closed owing to the lockdowns and travel restrictions. As a result, the spa industry faced huge revenue loss during 2020 and 2021. However, with the re-opening of lockdowns spa industry is expected to grow with full potential.

Global Spa Market Dynamics

Market Drivers

• Rising shift towards health and wellness activities
• Increasing hectic lifestyle in urban areas
• Growing demand from emerging markets

Market Restraints

• High cost of Spa treatments
• Lack of spa and massage experts

Market Opportunities

• Surging tourism industry
• Growing luxury hotel and resorts chains in the world

Spa Market Report Coverage

Spa Market Growth Factors

Medical Spa: A new trend

According to the ISO report, spas used to be all about manicures, pedicures, massages, therapeutic massage to Eastern inspired Ayurveda massage, hot stone massage, and many more. Today, the industry has evolved alongside the menu of therapies and treatments. A paradigm shift toward wellness and well-being occurred. According to a report released in 2018 by the Global Wellness Economy Monitor, the global wellness industry is now worth US$4.2 trillion. Furthermore, the report reveals that the average medical spa earns approximately US$1 Mn per year. Apart from that, the most important factor for medical spas that meet the standard requirement is a cost reduction due to process improvements, as well as more reliable and higher-quality services. This serves as a stand-alone factor for any spa seeking consumer trust and a first-mover advantage.

Rising Tourism Sector Fuel the Growth of Global Spa Market

According to the GLOBAL WELLNESS INSTITUTE's report, the wellness tourism economy is much larger than a narrowly defined set of typical wellness businesses such as spas, wellness retreats, thermal/mineral springs, and boot camps. Wellness travellers (particularly secondary wellness travelers) are looking to continue their wellness lifestyle while travelling, and this lifestyle includes healthy eating, exercise/fitness routine, natural experiences, and others. Apart from that, health retreats and spas have been rapidly growing in the tourism sector, where traditional remedial therapies are widely available. People are looking for an escape from work-related stress, and they are realizing the long-term benefits of taking care of themselves, which is driving the growth of the spa market. Spa destinations and activities are also among the fastest growing segments of wellness tourism among wellness travelers. According to GWI, there were over 149,000 spas worldwide in 2017, earning US$93.6 Bn in revenue and employing nearly 2.5 million people. From 2015 to 2017, the segment grew at a 9.9% annual rate and is expected to reach US$128 Bn by 2022.

Rising Hotel Chains Globally Fuel the Growth of Global Spa Market

Revenue at urban hotel spas increased by 6.5% in 2017 compared to previous years, according to a Hospitality Net report. This is higher than the 3.1 percent increase seen in resort spas. Spa revenues at resort hotels accounted for 3.5% of total hotel revenue in the same year. Furthermore, spa revenue accounted for 3.1% of total revenue recorded at urban hotels in 2017. Capturing customers from local markets, rather than just hotel guests, is one of the key reasons that urban hotel spas can generate significant levels of revenue. Local residents and members accounted for 59% of spa department revenue at urban hotels in 2017. As access to wellness services becomes more common in residential communities and workplaces, guests will expect hotels to provide similar services. As a result, hotels can profit from their spa and wellness services by taking advantage of the lucrative opportunity to increase revenues and profits. As a result, the value of hotels for owners and operators will rise.

Spa Market Segmentation

The global spa market is segmented as service type and region. Service type is segmented as hotel/resorts spa, destination spa, day/salon spa, medical spa, mineral spring spa, and others.

Spa Market By Service Type

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

Based on service type, the hotels/resort spa segment dominates the market with a significant share and will continue to do so throughout the forecast period. As hotel spas are more efficient at capturing revenue than resort counterparts. In 2017, hotel spas generated US$ 226.5 in revenue per square foot, while resort spas generated US$ 180.2. The efficient use of space is especially important for hotels, where land is scarce and development costs are significantly higher. As per spa industry analysis, hotel spa or resort spa customers spend slightly more on treatment (US$ 164.7), fostering segmental growth and, as a result, contributing to the overall market growth.

Spa Market Regional Outlook

North America

• U.S.
• Canada

Europe

• U.K.
• Germany
• France
• Spain
• Rest of Europe

Asia-Pacific

• India
• Japan
• China
• Australia
• South Korea
• Rest of Asia-Pacific

Latin America

• Brazil
• Mexico
• Rest of Latin America

The Middle East & Africa

• South Africa
• GCC Countries
• Rest of the Middle East & Africa (ME&A)

Spa Market Regional Analysis

Asia-Pacific Registers Largest Revenue Share; Europe Records Fastest Growing CAGR for Spa Market

According to our spa market forecast, Asia-Pacific will have the highest revenue share from 2022 to 2030. According to the ADB report, one of the major factors contributing to market growth is the rising wellness tourism segment. In 2017, India ranked seventh as a wellness tourism destination, with a wellness tourism expenditure of US$16.3 Bn resulting in 14% of employment. Furthermore, a growing number of hotels/resort spas in India offering traditional Ayurvedic resorts are becoming top destinations for spas and wellness retreats offering a comprehensive package of services. Apart from that, the high demand for spa facilities and experiences leads to the establishment of the nonprofit Thai Spa Association, which promotes the industry and works to ensure high standards in staff training, spa management, and equipment. Such factors have a positive impact on regional growth, ultimately contributing to overall market growth through the forecast period.

Europe, on the other hand, has the fastest growing CAGR in the spa market during the analysis period. One of the key factors driving the growth of the spa market in the European Union is the certification of hygiene management in medical spa hotels-HMC-Hygiene Management Certification. The EuropeSpa certification is well-known throughout Europe. As a result, spa facilities in Europe welcome the Europe-Spa testing approach, which has resulted in an anonymous ranking of where they stand in comparison to other certified spas tested in 12 European countries and three countries on other continents.

Spa Market Players

Some of the global Spa companies include Planet Beach, Hot Springs Resort & Spa, Four Seasons Hotels Limited, Massage Envy Franchising LLC, Emirates Palace Spa, Mandarin Oriental Hotel Group, Lanserhof, Jade Mountain, and Rancho La Puerta Inc.