North America with a 32% of Growth Rate will Dominate the Wellness Tourism Market During 2022-2026
The wellness tourism market size is expected to grow up to USD 327.56 billion, accelerating at a CAGR of 7.55% during the forecast period. 32% of the market's growth will originate from North America over the same period. The increase in mental illness is one of the key drivers that will boost the wellness tourism market growth.
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Wellness Tourism Market: Market Segments and Growth Forecasts
This research report will provide insights into the current market share of each segment along with growth projections for the next five years.
- The wellness tourism market is segmented by Type (Domestic and International), Application (Physical, Psychological, and Spiritual), and Geography (North America, Europe, APAC, South America, and MEA).
- 32% of the market growth will originate from North America during the forecast period. Factors such as the availability of spa treatments, anti-aging treatments, and the prevalence of a large fitness-conscious population will facilitate the wellness tourism market growth in North America. The US is the key market for wellness tourism in North America. Market growth in this region will be slower than the growth of the market in other regions.
- Based on the type, the wellness tourism market will have lucrative growth in the domestic segment during the forecast period.
Wellness Tourism Market: Trends, Drivers, Challenges
The report also offers a detailed impact analysis of various trends, drivers, and challenges that are likely to influence the market growth during the forecast period. These insights will equip clients to design a growth strategy for their business and area of operations.
- Growth in personal wellness awareness will be a significant factor in driving the growth of the wellness tourism market.
- The emergence of online wellness aggregators will be instrumental in driving the market growth during the forecast period.
- The perception of wellness tourism as luxury travel is a hurdle that needs to be crossed on the path to success.
Wellness Tourism Market: Vendor Analysis
The market is fragmented due to the presence of several players. Aspira Spa, Clinique La Prairie, Gaia Retreat & Spa, Hand & Stone Franchise Corp., HOT SPRINGS RESORT & SPA, Kempinski Hotels SA, Lanserhof GmbH, Marriott International Inc., ME SPE Franchising LLC, and Rancho La Puerta Inc. are some of the major market participants.
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The report provides insights into the following FAQs:
- What is the market CAGR?
The market is accelerating at a CAGR of 7.55%.
- What is the incremental growth of the market?
The market is expected to grow up to USD 327.56 billion.
- What is a key factor driving this market?
The growth in personal wellness awareness will drive market growth over the forecast period.
- What are the key regions covered in this market research report?
North America, Europe, APAC, South America, and MEA are the key regions featured in this research report.
- Which is the leading geographic region for this market?
32% growth will originate from North America.
- Who are the leading market vendors?
The leading vendors in this market are Aspira Spa, Clinique La Prairie, Gaia Retreat & Spa, Hand & Stone Franchise Corp., HOT SPRINGS RESORT & SPA, Kempinski Hotels SA, Lanserhof GmbH, Marriott International Inc., ME SPE Franchising LLC, and Rancho La Puerta Inc.
- What are the market segments covered in this report?
The market is segmented by Type (Domestic and International), Application (Physical, Psychological, and Spiritual), and Geography (North America, Europe, APAC, South America, and MEA).