Spa Market Growth, Trends and Report Highlights
According to a new report Global Spa Market, published by KBV research, The Global Spa Market size is expected to reach $90 billion by 2027, rising at a market growth of 11.2% CAGR during the forecast period.
The Hotel/Resorts Spa market acquired maximum revenue share in the Global Spa Market by Service Type 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $33.1 billion by 2027. It is owing to the growing wellness tourism around the globe. Over the last decade, prominent hotel companies have continued to add wellness-oriented brands to their portfolios. For example, Hyatt Hotels Corporation purchased two wellness brands, Exhale and Miraval Group, in 2017 in order to include their offerings within the Hyatt guest experience.
The Asia Pacific market region is generating high revenue in the Global Spa Market by Region 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $41.4 billion by 2027. The Europe market is expected to witness a CAGR of 10.6% during (2021 – 2027). Additionally, The North America market is expected to witness a CAGR of 11% during (2021 – 2027).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Planet Beach Franchising Corporation, Four Seasons Hotels Limited (Cascade Investment, L.L.C.), ME SPE Franchising, LLC, Jade Mountain, Mandarin Oriental International Limited (Jardine Matheson Holdings Limited), InterContinental Hotels Group PLC, Clarins Group SA, Lanserhof Group, Belmond Maroma Resort & SPA, and Gaia Retreat & SPA (Tattarang).
Global Spa Market Segmentation
By Service Type
â€¢ Hotel/Resorts Spa
â€¢ Day/Salon Spa
â€¢ Destination Spa
â€¢ Medical Spa
â€¢ Mineral Spring Spa
â€¢ Rest of North America
â€¢ Rest of Europe
â€¢ South Korea
â€¢ Rest of Asia Pacific
â€¢ Saudi Arabia
â€¢ South Africa
â€¢ Rest of LAMEA
â€¢ Planet Beach Franchising Corporation
â€¢ Four Seasons Hotels Limited (Cascade Investment, L.L.C.)
â€¢ ME SPE Franchising, LLC
â€¢ Jade Mountain
â€¢ Mandarin Oriental International Limited (Jardine Matheson Holdings Limited)
â€¢ InterContinental Hotels Group PLC
â€¢ Clarins Group SA
â€¢ Lanserhof Group
â€¢ Belmond Maroma Resort & SPA
â€¢ Gaia Retreat & SPA (Tattarang)