Global Spa Services MarketReport, published by Variant Market Research, forecast that the global market is expected to reach $192 billion by 2025 from $104 billion in 2017; growing at a CAGR of 7.9% from 2017 to 2025. By geography, Asia-Pacific, and RoW are expected to grow at a CAGR of 8.7% and 8.3%, respectively, during the forecast period. Spa services like facial, message, manicure, pedicure, among many other services are beneficial to the body as well as brain of the end user. owing to its various benefits, the demand of these services is increasing which is anticipated to drive the growth of the global spa services market over coming years.
Spa Services Market (By Type: Salon, Hotel, Medical, Destination, Mineral, and Other Types; By Geography: North America, Europe, Asia-Pacific and RoW) Global Scenario, Market Size, Outlook, Trend and Forecast, 2016 – 2025
Huge demand among teenagersto drive the growth of the global market
The factors supporting growth of the global spa services market are high growth in tourism industry, huge demand among teenagers, and rise in hectic lifestyle. However, lack of skilled professionals may act as a restraint for the growth of the market. Moreover, increasing number of aged people would provide several growth opportunities for the market in the future years.
Type, and geography are the major segments considered in the global spa services market. By type, the market is bifurcated into salon, hotel, medical, destination, mineral, and other types. By geography, the market is segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). North America covers the U.S., Canada, and Mexico. Germany, Russia, France, and Rest of Europe are analyzed under the European market. Japan, China, Thailand, Indonesia, and Rest of Asia-Pacific are included under the Asia-Pacific Market While RoW is bifurcated into South America, Middle East, and Africa.
Salonaccounted for the largest market share in the type segment
Global Spa Services Market, by Type
Salon accounted for the largest market share in 2017, in the type segment, and are expected to continue its dominance during the forecast period 2017 – 2025. The growth is attributed to reasonable services, rising disposable income among the middle class people, and advanced marketing strategies by salons.
Europe dominated the global market with highest market share over the forecast period
GLOBAL SPA SERVICES MARKET SHARE BY GEOGRAPHY,2017 (%)
Europe dominated the global market with largest market share of 35.3% in 2017 and expected to continue its dominance during the forecasted period. The growth is attributed to high demand in Western European countries like Germany, France, and varied demand rising from Eastern Europe nations owing to growing income of middle class customers.
The major players operating in the market are Jade Mountain, Emirates Palace, Lanserhof Tegernsee, Trailhead Spa, Four Seasons Hotel Limited, Massage Envy Franchising LLC, Belmond Maroma Resort & Spa, Six Senses Hotels Resorts Spas, Clarins Group, and Gaia Retreat & Spa, among others.