spa industry analysis

The spa market will register a CAGR of almost 6% by 2023. The market is fragmented. Personalization of spa services is expected to help the market grow at an impressive rate. Register for a free trial today and gain instant access to 17,000+ market research reports. This report provides an accurate prediction of the contribution of all segments to the growth of the spa market size. The spa market size has the potential to grow by $ 25.48 billion during 2020-2024, and the market’s growth momentum will accelerate during the forecast period. Click Here to Join for FREE. The report also covers details on the market’s competitive landscape and offers information on the products offered by various companies. An on-site beauty salon or well equipped facilities with cutting edge gear are two possible examples. BUSINESS TRAVELERS Spa-goers have never been so pressed for time; as a result they look for moments to “quickly relax”. For the seventh year in a row, Systems Planning and Analysis, Inc. (SPA), has been named a Top Workplace by The Washington Post for the Washington D.C… Whitepaper Analyze the Possibilities with GCAM® Simulation Software Thus, these homemade treatments have Many people opt for wellness Growing focus on cosmetic procedures will augment the medical spa market growth in the forthcoming years. Here are the key takeaways from the study, which debuted in 1999 and continues to be a critical tool to understanding industry trends: Total spa revenues were $18.3 billion, a 4.7 percent increase from the $17.5 billion in 2017; Spa visits were up 1.6 percent to 190 million; Spa locations rose to 22,160, a 1.8 percent jump from the 21,770 in 2017 This report provides a detailed analysis of the market by type (day/club/salon spa, hotel/resort spa, destination spa, medical spa, and others) and geography (Europe, APAC, North America, South America, and MEA). To make the most of the opportunities, vendors should focus on growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. According to Global Wellness Economy Monitor, out of US$ 3.7 trillion global wellness economy in 2015, spa industry accounted for US$ 99 billion. These personalized services are efficiently designed to deliver fitness, peace of mind, pleasure, health, and wellness to its e… Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including 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. Browse TOC and LoE with selected illustrations and example pages of Spa Market. ISPA states the industry continues to experience steady growth with increases in overall revenue, locations, number of spa visits, and revenue per visit. Homemade solutions for spa treatment is a major challenge for the 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. COVID-19 Impact Analysis. The ISPA 2017 U.S. Spa Industry Study was commissioned by the International Spa Association Foundation, undertaken by PricewaterhouseCoopers, and presents a picture of the spa industry in 2016. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts. The Consumer Discretionary industry is expected to have Negative impact due to the spread of COVID-19 virus. The key players and their strategies are analyzed to understand the competitive outlook of the market. tourism to travel to different countries for their physical, spiritual, The Medical SPA market report contains a holistic analysis of this business domain, with respect to the key growth drivers, opportunities, and restraints. An expanding focus on physical appearance and aesthetics is commonly witnessed among women, especially across American countries. Consumer Discretionary market will have Indirect impact due to the spread. This report provides information on the production, sustainability, and prospects of several leading companies, including: For more insights on the market share of various regions Request for a FREE sample now! Spa industry section of this publication provides information on the number of spas, revenues, and total employment by market segment (e.g., day/club/salon, hotel/resort, destination/health, medical, and thermal/mineral springs) and global region (e.g., Europe, Asia-Pacific, Middle East-North Africa, Sub-Saharan Africa, North America, and Latin America-Caribbean) and for the top 20 spa markets. Even if the spread of virus is contained, we expect that it may take more than two quarters (six months) to reach a normal state of economic activity. The COVID-19 pandemic continues to unfold everyday with severe impact on people, communities, and businesses. 4.3.3 Competition and Buying Patterns Within this group, c lients who use spa services fall into four basic groups: Clients recovering from injuries or accidents / Massage Therapy (Madame Pamperzhou, owner, has professional contacts for referral in this area.) Factors such as growing wellness tourism industry, increase in adoption of facial, body, and hair treatments in spas, and will offer immense growth opportunities. Our market Analysis table thus reflects 70% of the local and visiting population who might be targeted. About half of the industry revenues are generated through salon services, while the other half is provided by spa services. The spa market size has the potential to grow by $ 25.48 billion during 2020-2024, and the market’s growth momentum will accelerate during the forecast period. China and Japan are the key markets for spas in APAC. Spa’s are no longer a niche industry, but instead are a major revenue producer for the hotel industry, indeed, rooms as well as Food & Beverage revenues, can significantly be complemented by spa and wellness revenue streams. The report offers an up-to-date analysis regarding the current global market scenario, latest trends and drivers, and the overall market environment. As the business impact of COVID-19 spreads, the Global Spa Market 2020-2024 2020-2024 market is expected to have Negative & Inferior growth. The combined use of conjoint and cluster analysis provides a new method of market segmentation in the spa industry. results. Business Essentials: Business building and support resources to grow your company. garnered momentum over the years among women, which is impacting the spa This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2026. This report provides a detailed analysis of the market by type (day/club/salon spa, hotel/resort spa, destination spa, medical spa, and others) and geography (Europe, APAC, North America, South America, and MEA). Industry participants are those whose services include salon and spa offerings. Spa Industry 2021 View Trends, Analysis and Statistics. and psychological well-being. APAC will offer several growth opportunities to market vendors during the forecast period. Spa Market 2019-2023" report has been added to ResearchAndMarkets.com's Topics: Fitness Copyright © 2007-2021 Infiniti Research Limited. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. Our analysts can customize this report to meet your requirements. The Spa Industry Association is a trade group that supports anyone working in the spa, salon, medical spa, resort, destination industry. available at retail outlets. For the purpose of this study, Grand View Research has segmented the global medical spa market … We can help! Moreover, this spa market analysis report provides information on the upcoming trends and challenges that will influence market growth. Request for a FREE Sample on the Impact of COVID-19. The spa industry segment of the global wellness industry was worth an estimated 563 billion U.S. dollars in 2015. The spa market will register a CAGR of almost 6% by 2023. 1-800-526-8630For GMT Office Hours Call +353-1-416-8900Related Among countries, the US is the largest spa market in the world based on revenue, followed by China, Germany and Japan. factors diving growth in the market. These services enable them to further enhance their treatment Salon services concern hair styling, while spa services concern body relaxing and rejuvenating offerings such as massage, and nail and face works. Spa services refer to a collective term assigned for various services such as facial, body massage, manicure, pedicure, body treatment and others provided under expert administrations that revitalizes the brain and body. All Rights Reserved. With the aim of delivering effective spa treatments, Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. Spa Industry Analysis In 2015, there were 120,000 spas around the world that generated approximately $99 billion in revenue, according to First Research Inc. The U.S. Spa Industry has surpassed $18.3 billion according to a report by The International SPA Association (ISPA). DUBLIN--(BUSINESS WIRE)--The "Global Here are the top five spa trends in 2020 our experts expect to be taken by storm. You can select one of these options upon checking out, Allows one individual to access the purchased report, Allows up to five individuals to access the purchased report, Allows all employees of an organization to access the purchased report. market. The wellness industry represents 5.3 percent of global economic output. For more information about this report visit https://www.researchandmarkets.com/research/mdskxt/worldwide_spa?w=4, ResearchAndMarkets.comLaura Wood, Senior Press Managerpress@researchandmarkets.comFor Medical spa is expected to register the fastest growth, during 2016-2022. Market. For many, a spa experience can be a let down - at best baffling, at worse intimidating. Medical spa is associated with technology and requires medical expertise for providing the relaxing experience of a spa to patients. They are, however, not as popular as other types of health care services. Today, Spa Industry revenues total $12 billion annually, with Day Spas accounting for over $7 billion of this figure and growing at 25% per year. There are about 12,000 spas in the U.S. and Canada, according to ISPA, and seven out of ten are day spas. the spa industry focuses on providing personalized spa therapies or But when a spa gets it just right, it can be a wonderfully holistic experience. The growing health and wellness consciousness are one of the major For nearly 50 years, we have informed decisions that had strategic and lasting impacts on national security. Purchase this report now and if we publish a new version within 90 days, we will send you a free copy. Among the 10 wellness markets analyzed, revenue growth leaders from 2015–2017 (per annum) were the spa industry (9.8 percent), wellness tourism (6.5 percent) and wellness real estate (6.4 percent). In the short term, the market demand will show Inferior growth due to the increase in infections and reduced economic activity. Key sectors include: Personal Care, Beauty and Anti-Aging ($1,083 billion) To help clients improve their market position, this spa market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary. Internal sharing only, Allows all employees of an organization to access the purchased report. The Spa Industry Association is working to keep you up to date on the latest event changes, product updates and industry news regarding the coronavirus and its impacts on the community. Medical Spa Market Key Segments: Centers and Health Clubs, https://www.researchandmarkets.com/research/mdskxt/worldwide_spa?w=4, Day/club/salon spa - Market size and forecast 2018-2023, Hotel/resort spa - Market size and forecast 2018-2023, Destination spa - Market size and forecast 2018-2023, Medical spa - Market size and forecast 2018-2023, Others - Market size and forecast 2018-2023, EMEA - Market size and forecast 2018-2023, Americas - Market size and forecast 2018-2023, APAC - Market size and forecast 2018-2023, Increase in the availability of flotation therapy spa services, Increase in demand for organic and natural procedures. an impressive rate. The document scrutinizes the impact of COVID-19 pandemic on the growth matrix of this vertical. W hat better way to ring in 2020 than treating yourself to one of the hot trends in the world of spa-ing to relax after surviving holiday parties, in-laws and the crowds at Bloomingdales. Personalization of spa services is expected to help the market grow at This report can be personalized according to your needs. However, the demand for spas is growing not only in the U.S. but around the world. The United States is the largest spa market, with 21,000 facilities and $16 billion in revenue. Spa Services Market by Type (Salon Spa, Hotel Spa, Medical Spa, Destination Spa, Mineral Spa and Other Spa) and Geography (North America, Europe, Asia-Pacific, LAMEA) - Global Opportunity Analysis and Industry Forecast, 2014 - 2022. It also permits the use of up to 4 paragraphs or 1 page of the report externally in whitepapers, press releases, and marketing collateral. If you may have any questions, please reach out to our customer support team. An extensive analysis of key segments of the industry is provided to understand the profitability of the various types of global medical spas. Global Spa Services Marketprojects that the market would reach $154.6 billion by 2022. Our clients entrust us with their critical missions. market. Pharmaceuticals, Biotechnology & Life Sciences, Electronic Equipment, Instruments & Components, Technology Hardware, Storage & Peripherals, Independent Power and Renewable Electricity Producers, Independent Power Producers & Energy Traders, CAGR of the market during the forecast period 2020-2024, Detailed information on factors that will spa market growth during the next five years, Precise estimation of the spa market size and its contribution to the parent market, Accurate predictions on upcoming trends and changes in consumer behavior, The growth of the spa industry across Europe, APAC, North America, South America, and MEA, A thorough analysis of the market’s competitive landscape and detailed information on vendors, Comprehensive details of factors that will challenge the growth of spa market vendors, Financial reports of key industry players, Products and services used to manage or contain the spread of COVID-19 virus, Products and services used for the treatment of COVID-19 virus, Impact of lockdowns, supply chain disruptions, demand destruction, and change in customer behavior, Optimistic, base case, and pessimistic scenarios for all markets as the impact of pandemic unfolds, Pre as well as post COVID 19 market estimates, Quarterly impact analysis as the spread reaches global level and updates on market estimates, Impact of the pandemic on supply chain operations, New product launches in coronavirus-related markets, Significant changes in vendor operations (Including bankruptcy & other implications). Medical spas are regarded as unique form of care and treatment and are distinctively different from other types of health care providers. The spa market is poised to grow by $ 25.48 billion during 2020-2024 progressing at a CAGR of 4% during the forecast period, according to Businesswire. Get in touch. The growth in several industries will be impacted significantly while numerous other markets may remain unscathed and show promising growth opportunities. services. Rely on our Market Intelligence platform to get the latest trends on the Spa Industry and anticipate the future of the sector. 34% of the market’s growth will originate from APAC during the forecast period. Medical Spa Market size is projected to experience significant growth from 2019 to 2025.. This study could help spa professionals to design customized spa products for the distinct segments, and thus retain and attract more spa visitors. Health & Wellness Spas in the US industry trends (2015-2020) poll Average industry growth 2015–2020: 10.7% Over the five years to 2020, the generic prescriptions produced by the Generic Pharmaceutical Manufacturing industry in Canada have accounted for a larger share of total prescriptions dispensed by … 5.1 Medical Spa Regional Market Share Analysis, 2018 & 2026 5.2 Medical Spa Regional Market: Segment Dashboard 5.3 Regional Market Snapshot (Market Size, CAGR, Top Verticals, Key Players, Top Trends) offering. The salon and spa industry creates a new business opportunity to help people feel good about who they are and how they look. 2 0 With the … If they fall under the wellness […] Ruth Stricker, A Life Lived These solutions require low cost ingredients that are easily Analysis includes market sizes and forecasts, market trends, market segmentation, competitive context, broken down segment performances, retail channels, consumer demographics and survey results, leading companies, brand share, marketing strategies, and … SPA provides knowledge-based solutions integrating technical, operational, programmatic, policy, and business solutions in support of important national security objectives. E.S.T Office Hours Call 1-917-300-0470For U.S./CAN Toll Free Call The increase in availability of flotation therapy spa services will significantly influence spa market growth in this region. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. Within this industry, small salons contribute to a majority of the opportunities that are available. Since that time, they have served as valued research advisors and they ensure ISPA keeps its finger on the pulse of the industry. The highly regarded PricewaterhouseCoopers research unit was commissioned to conduct the first ISPA U.S. Spa Industry Study in 1999. A day spa SWOT analysis will mention good qualities related to the resort’s facilities, staff, equipment and services. The "Strengths" section of a SWOT analysis highlights positive characteristics that give a business a competitive advantage. This will help companies create strategies to make the most of future growth opportunities. Spa is a core business within wellness tourism and accounts for a major portion of the wellness tourism economy. 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spa industry analysis 2021