The spa resorts market is anticipated to flourish at an average CAGR of 6.7% between 2023 and 2033. The market is expected to hold a market share of US$ 166.4 billion by 2033, while the market is likely to reach a value of US$ 87 billion in 2023.
Social media platforms like YouTube, Instagram, Facebook, Snapchat etc. are being used effectively to advertise Spa resorts and they are hence seeing a lot of visitors.
There is a lot of footfall also because of the stress everyone faces in their day to day to life. And, a spa resort provides a lot of relaxation due to the massages, beauty and grooming packages.
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Spa resorts are mostly located close to the nature like the ocean, jungles etc. Being so close to the nature helps one to relax and relive their stress more easily.
Key Takeaways:
- Medical spa is the most preferred spa type among the consumers. Under medical spa there are different treatments like prenatal, fitness and therapy. It is most preferred because people prefer to relax from their stressful life.
- In spa resorts globally, women are the most popular customers. They like to take relaxing holidays which relieve them of their stress.
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- It has been observed that there are more bookings done by customers through the online segment. Customers are benefitted with more discounts, offers etc. through online bookings on company websites or various social media platforms.
- More domestic tourists’ footfall is noticed in spa resorts. This is due to the fact that each and every region has one spa resort. Only consumers who are financially stable take holidays to go and spend time in a spa resort
Impact of COVID-19 on the Spa resorts market
Due to the rapid COVID-19 pandemic, one of the most hit markets in 2020 is the spa resorts industry. Due to lockdowns, the temporary prohibition on international travel, domestic travel restrictions, and the tourist, lodging, and food and beverage service industries have slowed down after performing well in 2019.
Changing lifestyles, and interests, and increasing disposable incomes have been changing the face of the spa resorts market globally. The health benefits associated with the spa services such as relief from stress, minimization of body pain, and the calmness offered have made spa services a major part of people’s lives. The growing interest in personal pampering and perception of a spa as a self-improvement investment is expanding the spa resorts market in dimensions across the world. Spa services include a range of services for health management and body relaxation. They include: massages, facials, body scrubs, steam baths, waxing, and nail care.
Key Players
- Radisson Resorts & Spa
- Four Seasons Hotel limited
- Massage Envy Franchising LLC
- Emirates Palace
- Six Senses Hotels Resorts Spas
- Jade Mountain Resort
- Gaia Retreat & Spa
- Ananda
- Lanserhof Tegernsee
- Others
Key Segments Covered
By Spa Type:
- Salon/Day/Club Spa
- Medical Spa (Prenatal, Fitness, and Therapy)
- Hotel Spa
- Destination Spa
- Mineral Spa
- Others (Pet, Baby, Mobile, and Cruise Ship)
By End User:
- Male
- Female
By Booking Channel:
- Phone Booking
- Online Booking
- In Person Booking
By Tourist Type:
- Domestic
- International
By Key Regions:
- Latin America
- Europe
- Japan
- Asia Pacific Excluding Japan
- The Middle East and Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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