Spa Market Overview:

This study's purpose is to give an overview of the Spa market as well as extensive market segmentation based on segments, and geography. The report includes vital information on the market positions of the major Spa companies, as well as notable industry trends and prospects.

The report also focuses on the leading industry players in the Global Spa market, giving information such as company biographies, product images and specifications, capacity, production, price, cost, revenue, and contact information. This research looks into Spa Market Trends, Volume, and Value at the Global, Regional, and Company Levels. This study examines the whole Spa Market Size from a worldwide standpoint, evaluating historical data and forecasts.

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Global Spa Market size was valued at US$ 113.52 Bn. in 2021 and the total revenue is expected to grow at CAGR 5.81% through 2021 to 2029, reaching nearly US$ 178.36 Bn.

Market Scope:

Top-down and bottom-up approaches are used to validate the market size and to estimate the market size by different segments. The market estimations in the report are based on the sale price (excluding any discounts provided by the manufacturer, distributor, wholesaler, or traders). The percentage splits, market shares, and breakdowns of the segments are derived based on weights assigned to each of the segments on their utilization rate and average sale price. The country-wise splits of the overall market and its sub-segments are based on the percentage adoption or utilization of the given market Size in the respective region or country.

Drivers:

Due to people's hectic lifestyles and growing health concerns like anxiety, depression, and stress, there is an increase in demand for spa services all over the world.

According to the Centers for Disease Control and Prevention, asthma affects 7.6% of adults in the United States who are 18 years of age and older, or roughly 0.0184 billion people. Growing spending on relaxing therapies like sauna and spa treatments gives asthmatic patients a feeling of respiratory relief. Additionally, the target market is anticipated to grow as a result of factors such as rising per capita income, rising standards of living, and shifting global lifestyle trends.

Segmentation:

The market is divided into salon spas, hotel spas, medical spas, destination spas, mineral spas, and others based on the type of product. The segment with the highest market revenue share in 2021, accounting for 38.56%, was the hotel and spa industry. During the forecast period, this segment is anticipated to grow at a CAGR of 6.89%. The significant revenue for this segment is driven by the travel and tourism industry's rapid growth. Hotel guests can now enjoy a spa experience without leaving the comfort of their hotel thanks to a growing trend among hotel spas. These amenities frequently turn out to be very profitable for the hotels, which are fueling the market expansion.

The destination spa segment is anticipated to grow significantly during the forecast period, with a CAGR of 7.2%. In the coming years, the demand for traditional spa treatments like Ayurvedic, Swedish, and Turkish massage will increase.

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Key Players: the key players are

• Planet Beach
• Hot Springs Resort and Spa
• Four Seasons Hotel Limited
• Massage Envy
• Lanserhof
• Jade Mountain
• Rancho La Puerta
• Mandarin Oriental Hotel Group
• Omni Hotels and Resorts
• Emirates Palace Spa
• Mayfair Pevonia Spa
• Kaya Kalp – the Royal Spa
• Angsana Oasis Spa
• The Spa at Ranbanka
• Ananda in the Hills

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Regional Analysis:

The report has assessed the global Spa market in the following regions:

• America, North (the United States, Canada)
• European Union (Germany, France, United Kingdom, Russia)
• Asia-Pacific region (China, Japan, Korea, India, Southeast Asia, and Australia)
• Latin America (Brazil, Argentina, Colombia)
• Africa and the Middle East (Saudi Arabia, UAE, Egypt, South Africa)

Key Questions answered in the Spa Market Report are:

• Which key trends are likely to emerge in the Spa market in the forecast period?
• What will be the Spa market size by 2027?
• Which company had the biggest share in the Spa market in 2020?

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