Spa Market Size to Grow by USD 22.08 Billion | Aspira Spa and Cal-a-Vie Health Spa Among Key Vendors | Technavio – Yahoo Finance

Spa Market Size to Grow by USD 22.08 Billion | Aspira Spa and Cal-a-Vie Health Spa Among Key Vendors | Technavio – Yahoo Finance

NEW YORK, Jan. 12, 2022 /PRNewswire/ — Some of the primary growth drivers for this market are the increase in adoption of facial, body, and hair treatments in spas; growing wellness tourism industry; and brand positioning enabling premium pricing for spa services, according to a senior analyst at Technavio.

Attractive Opportunities in Spa Market by Type and Geography – Forecast and Analysis 2021-2025

The growing wellness tourism industry will fuel the growth of the spa market size. Many people opt for wellness tourism and travel to different countries for physical, spiritual, and psychological wellbeing. Hectic schedules lead to stress, bad eating habits, and pollution. These factors further result in different health issues such as skin problems, obesity, poor immunity, heart problems, and chronic diseases. Wellness tourism is an appropriate solution to improve the quality of life and prevent such health issues. This type of tourism creates opportunities for wellness businesses and other businesses, such as spas. Hence, the spa market is likely to witness significant growth during the forecast period.

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The spa market size is expected to grow by USD 22.08 bn from 2020 to 2025. The year-over-year growth rate of the market in 2021 is 4.30%.

Market Segmentation Highlights

  • By type, the spa market has been classified into five segments, namely day/club/salon spa, hotel/resort spa, destination spa, medical spa, and others.

  • Among these segments, the day/club/salon spa segment will have significant market share growth during the forecast period.

  • Day spas are popular for treatments and facilities during the day. They offer beauty and relaxation treatments such as hair treatments, massages, and facials.

  • Many vendors are expected to offer innovative day/club/salon spa services during the forecast period.

Regional Analysis

  • By geography, the spa market has been segmented into five regions, namely Europe, APAC, North America, South America, and MEA

  • Europe is expected to dominate the market. The region will account for 33% of the growth of the market during the forecast period.

  • Germany and France are the key countries for the spa market in Europe.

  • Market growth in this region will be faster than the growth of the market in APAC, North America, South America, and MEA.

  • The rise in the working population and growing wellness tourism will drive the spa market growth in Europe during the forecast period.

Spas