Spa Market

Global Spa Market Size (2024 to 2029)

The global spa market is estimated to be worth USD 62.3 billion in 2024 and is anticipated to reach 103.78 billion by 2029 with a CAGR of 10.4% during the forecast period.

Current Scenario of the Global Spa Market

The spa is a commercial establishment offering various programs devoted mainly to health, fitness, weight loss, beauty, and relaxation. Spa helps to de-stress and calm the mind, helps with anti-aging, and enhances sleep and skin as it releases dopamine and serotonin. All these benefits of spa treatment are accelerating their adoption among people. The global spa market accounted for the most significant growth in the past few years and is anticipated to have notable growth during the forecast period. The rising prevalence of stressful lifestyles and growing awareness among people regarding the benefits drive global market revenue. According to the United States Spa industry, in 2022, around 181 million visitors will be recorded in the United States.

MARKET DRIVERS

The escalation in the trends of self-care and wellness is majorly contributing to the rise in demand for spa services worldwide, leading to global market growth.

The growing awareness among all genders regarding the importance and benefits of spa services for well-being creates opportunities for the global spa industry. The hectic lifestyles of the people are inducing massive stress as it has become a prevalent concern affecting the physical and mental health of the people, making people realize the importance of self-care and relaxation, positively impacting the expansion of the market growth. The growing health consciousness is creating opportunities for the spa market. It includes various services like massages, facials, yoga, and meditation sessions, gaining traction among the people and leading to market revenue growth. The rapid expansion in the travel and tourism industry is estimated to have a massive impact on the expansion of the spa market due to the rising demand for spa services among tourists. Most hotels and resorts are focusing on incorporating spa services in their hotels and resorts to provide premium service to their guests. According to data provided by a few reports, approximately 43% of the hotel managers believed that a spa positively influenced guest's length of stay, encouraging them to spend more time at the resort. It also stated that 73% of respondents agreed that having a spa in their establishment increased occupancy rates. Additionally, according to the survey conducted by Health Fitness Dynamics, an overwhelming 97% of the resort/hotel managers believed that having a spa was a marketing advantage.

The increasing demand for spa services among the female population is escalating the growth opportunities for the global spa market. According to the demographic data of spa-goers, women tend to make up the majority of spa-goers, approximately 85% of spa visits in the United States. The increasing demand from the millennials is propelling the global spa market revenue. Various reports state that millennials are increasingly becoming spa-goers, representing 38% of spa visits in the United States. Rapid urbanization and rising disposable incomes make people invest in self-care and beauty procedures, which augments the global market expansion. The broadening demand for anti-aging treatments, especially among the female population, is multiplying worldwide market revenue.   

MARKET RESTRAINTS

The high costs associated with spa services are hampering the global spa market. Most spa services are expensive as they use premium equipment and products for the services and, especially for females, are of high cost. The spas providing cosmetic services, massages, and facials for women are too expensive, which may restrict access to a few people with limited budgets, hindering market growth. The presence of limited skilled and trained professionals for several types of beauty treatments worldwide will pose a significant challenge to the market growth rate. The high costs and limited awareness among the people in the semi-urban areas will negatively impact market expansion. The concerns involved with using chemicals in the treatment process or for massages, which may affect skin health, are estimated to impede the market growth. The presence of huge competition among the market players may lead to fluctuations in the pricing of the procedures, which acts as a restrainer to the market growth.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Spa Market Analysis By Service Type

The hotel and resort spa segment accounted for the dominant global spa market revenue share.

The hotel and resort spas are gaining traction due to their premium services for tourists seeking relaxation and wellness during their stay, which drives the segment growth. Most travelers prefer to stay in resorts and hotels that offer spa services to hotel and local guests, which fuels the segment growth. The growing number of tourists escalates the revenue growth of hotel and resort spas. For Instance, in June 2023, Wyndham Hotels & Resorts, a global leader in franchising with around 9,100 hotels across more than 95 countries, inaugurated the Ajul Luxury Hotel & Spa resort.

The salon and day spas segment held the second largest share and is expected to grow steadily during the forecast period.

The day spas offer massage and facial services to people through trained professionals daily, which fuels the segment's growth. The salon spas offer convenience and accessibility to various beauty and relaxation services in most urban and suburban regions, propelling the market growth. The salon spas provide facilities that provide beauty services for hair, cosmetics, nails, and other products, which is gaining a female customer base and leading to market growth.

The other segments are estimated to have steady growth rates during the forecast period. The growing awareness among people regarding the benefits of medical spas and mineral spring spas and the rising trend of destination spas will augment these segments' growth in the coming years.

Global Spa Market Analysis By End-User

The female segment held the dominant share in the global spa industry and is expected to maintain the dominance during the forecast period.

Females are the primary customers of spa services, and their continuous engagement with spas is a significant factor driving market revenue growth. Most women frequently seek spa services for relaxation, beauty care, and overall well-being, influencing the spa industry market players to specifically introduce various innovative and new massage therapies for enhancing beauty. These initiatives by the market players will provide growth opportunities for expanding the spa market in the coming years.

The male segment is estimated to grow prominently during the forecast period.

The growing introduction of spa services to men, where most men are seeking massages for relaxation and self-care, is boosting the segment's growth. Spa facilities offer male clients specialized treatments and services related to their needs, such as sports massages and grooming treatments, which fuels the segment growth rate. The broadening cultural shift towards self-care and wellness among all genders escalates market growth.

REGIONAL ANALYSIS

The Asia Pacific region dominates the global spa market with a prominent market share and is estimated to maintain its dominance in the coming years.

The presence of the region's holistic wellness traditions, especially in countries like Japan, South Korea, India, and China, is escalating the demand for spa services among the people, leading to market growth. The rising number of working professionals and the escalation in the disposable incomes of the people are allowing them to seek premium relaxation services. The increasing population in the region is a significant factor driving the regional market growth. The hectic lifestyles of the people leading to high stress for the people are enhancing them to seek relaxation services, and the growing demand for beauty procedures among the female population is fueling the market growth rate.

The North American region held the second-largest market share in the global spa market revenue and is expected to grow steadily during the forecast period.

The region's culture indicates high importance in self-care and wellness, which promotes spa industry expansion. Rising awareness among people regarding the benefits of spa services and increasing demand from the female population are boosting the market growth opportunities.

The European region held a prominent share in the global spa market due to increased demand for spa services in countries like Germany, France, Italy, and the United Kingdom.

The European people mainly value relaxation and therapies for reducing stress, which fuels the market growth in the region. The presence of a wide range of spas and rising demand for traditional wellness methods among the people are augmenting the demand for spa services across the region.

The Latin American spa market is projected to have moderate growth in the coming years due to emerging market revenue in countries like Brazil and Mexico owing to their spa experiences in natural beauty.

Most tourists and locals are widely attracted to the spa services provided in the region, especially the healing practices, which multiply the market revenue growth.

The Middle East and African regions are expected to grow steadily during the forecast period.

Emerging spa destinations, with luxury spa resorts in UAE and South Africa, due to the growing tourism industry in the region, will enhance the market growth opportunities during the forecast period.   

KEY PLAYERS IN THE GLOBAL SPA MARKET

Canyon Ranch Inc., Emirates Palace, Four Seasons Hotels Limited, Grand Resort Bad Ragaz AG, Planet Beach Franchising Corporation,   Marriott International Inc.,  Massage Envy Franchising LLC, Lanserhof GmbH,  Six Senses Hotels Resorts Spas (InterContinental Hotels Group), Harrison Hot Springs Resort & Spa Corporation are some of the notable companies in the global spa market.

RECENT DEVELOPMENTS IN THE MARKET

• In December 2023, Canyon Ranch Inc., a global pioneer and innovator in destination wellness opened its new wellness club. The club features a spa, salon, fitness, performance, and expert services from Canyon Ranch's famous resorts, all within Fort Worth's newest luxury destination.
• In October 2023, Massage Envy Franchising LLC, a national leader in skincare and the nation's top massage provider in the United States, introduced advanced facial services collectively across its franchise network. With the launch of a new oxygenating facial treatment and limited-time seasonal facials, the Massage Envy brand continues transforming how members and guests experience wellness through skincare and other innovative services.
• In August 2023, Artisan's Rejuvenation Med Spa, a notable medical spa in the Brazos Valley, introduced CellSound Aesthetics, its latest highlighted non-invasive treatment that revitalizes one's innate beauty through facial rejuvenation and body sculpting.  
• In August 2022, AKARYN Hotel Group, an esteemed luxury boutique hotel chain in Asia, revealed its plan to launch the third addition to the Aleenta Resort luxury boutique resort collection. This new property, consisting of 45 rooms, a pool, a bar, a lounge, a restaurant, a spa, a wellness center, and an array of personalized health and wellness programs and retreats, was set to enrich the brand's offerings.

DETAILED SEGMENTATION OF THE GLOBAL SPA MARKET INCLUDED IN THIS REPORT

This research report on the global spa market has been segmented and sub-segmented based on service type, end-user, and region.

By Service Type

• Salon/Day Spa
• Hotel/Resort Spa
• Medical Spa
• Thermal/Mineral Spring Spa
• Destination Spa
• Ayurvedic/Traditional Spa

By End-User

• Female
• Male

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa