Latest News- Spa Market: Female is expected to lead the End-user segment during 2024-2028

The Spa Market is being driven by Increase in adoption of facial, body, and hair treatments in spa

The Spa Market is expected to grow at a CAGR of 6.79% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 48.3 billion. The spa market is witnessing a surge in the provision of floatation therapy services, driven by the growing popularity of gravity-defying flotation tanks, rooms, and pools. These weightless, saltwater environments offer numerous medical benefits, such as stress reduction, pain alleviation, headache relief, swelling management, depression management, and blood pressure regulation. Additionally, floatation therapy energizes the body, improves circulation, and enhances skin health. The therapy's temperature-controlled, dark, and soundproof tanks ensure a neutral skin temperature and optimal sensory deprivation for maximum relaxation and therapeutic effect. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• End-user
  • Female
  • Male
• Type
  • Day/club/salon spa
  • Hotel/resort spa
  • Destination spa
  • Others
• Service Type
  • Massage Therapy
  • Skincare Treatments
  • Hydrotherapy
  • Wellness Programs
• Facility Type
  • Day Spas
  • Resort Spas
  • Medical Spas
  • Destination Spas
• Geography
  • Europe
    • France
    • Germany
    • Italy
    • Spain
    • UK
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • North America
    • US
    • Canada
    • Mexico
  • South America
    • Brazil
  • Middle East and Africa
    • UAE

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increase in adoption of facial, body, and hair treatments in spa
• Growing wellness tourism industry
• Brand positioning enabling premium pricing for spa services

However, the market also witnesses some limitations, which are as follows:

• Competition from beauty salons and lack of skilled labor
• Availability of homemade spa solutions at lower costs
• Barriers to providing holistic customer experience

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Market Scope in Spa Market Research Report

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Research Analysis Overview

The spa market is thriving with the popularity of organic products and natural ingredients, sustainable practices, and eco-friendly and green spas. Holistic wellness is at the forefront, with alternative therapies such as body wraps, mud treatments, salt therapy, infrared sauna, floatation therapy, and oxygen therapy gaining traction. Personalized spa treatments and custom packages cater to individual needs, while mobile and in-home services offer convenience. Corporate wellness programs, spa retreats, vacations, and tourism continue to drive growth. Spa innovation and technology advancements, along with effective marketing strategies, enhance the spa customer experience. Brand development, business models, profitability, staffing, and training are key focus areas for spa success.

Market Research Overview

According to Technavio, the spa market under the global leisure facilities industry is a significant segment within the larger hotels, restaurants, and leisure market. This market encompasses businesses providing massage therapy, body treatments, hair removal, nail care, steam rooms, and hot tubs. The parent global leisure facilities market serves entities operating sports and fitness centers, stadiums, golf courses, amusement parks, casinos and gaming establishments, hotels, resorts, and cruise lines. The market's growth is influenced by the rise in disposable income, leading to increased spending on discretionary activities, such as spa services, arts, entertainment, and recreation.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/