Spa Market - By Service Type (Massage Therapies, Facial Treatments, Body Scrubs & Wraps, Medical & Cosmetic Procedures), By Spa Type, By Customer Preference, By Age Group, By End User, Global Forecast, 2023 - 2032

Spa Market - By Service Type (Massage Therapies, Facial Treatments, Body Scrubs & Wraps, Medical & Cosmetic Procedures), By Spa Type, By Customer Preference, By Age Group, By End User, Global Forecast, 2023 - 2032

Spa Market Size

Spa Market size was valued at USD 54.6 billion in 2022 and is predicted to register at a CAGR of over 11.5% till 2032. The increasing disposable income across various income brackets is amplifying the accessibility to spa services.

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Enhanced financial flexibility allows a broader spectrum of individuals to indulge in spa treatments that were once considered exclusive. This economic empowerment is not only widening the consumer base of the business but also transforming the ecosystem into a diverse & inclusive industry.
 

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The increasing consumer fascination with experiencing wellness services is driving the industry gains. The prioritization of mental & physical well-being is propelling individuals to seek relaxation, stress relief, and rejuvenation through spa treatments such as massages & facials, as well as holistic wellness experiences.

The expenses associated with running a spa can be substantial as it encompasses skilled labor costs, premium skincare & wellness product prices, ongoing equipment maintenance needs, and the creation of an aesthetically pleasing & comfortable environment. These costs, when not managed effectively, can impact profit margins and hinder the ability of spa businesses, particularly smaller ones, to offer competitive prices while still delivering quality services. Striking a balance between cost control and the maintenance of a high standard of service is crucial for sustained profitability

COVID-19 Impact

The COVID-19 pandemic had a substantially negative impact on the spa market as lockdowns, travel restrictions, and health concerns led to temporary closures and a subsequent reduction in the demand for spa services. However, as tourism rebounds post-pandemic. The boost in tourism will bring a renewed interest in wellness & relaxation services with travelers seeking transformation after prolonged periods of stress.

Spa Market Trends

The rising use of skin care products is allowing the spa business to register lucrative growth through the fostering of a symbiotic relationship. For instance, in August 2023, Prada Beauty introduced Prada Skin and Prada Color through its Rethinking Beauty campaign, marking the brand's inaugural foray into skincare and cosmetics. The assortment of products within the company’s fresh cosmetics and skincare items aims to establish a tailored beauty journey, thereby aligning with the intrinsic essence of the brand's identity. As the skincare industry expands and consumers prioritize skin health, spas offering personalized guidance and professional treatments will capitalize on this trend, enhancing their offerings and profitability in the industry.

Spa Market Analysis

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Based on service type, the spa market is divided into massage therapies, facial treatments, body scrubs & wraps, medical & cosmetic procedures, and others. The massage therapies segment is expected to grow at a CAGR of over 11% by 2032. Investments in technologically advanced massage therapy ventures are augmenting the industry expansion. These investments are revolutionizing the traditional spa experience by integrating cutting-edge technology into massage therapy treatments. For instance, in November 2022, Aescape, a tech firm specializing in the development of fully automated & data-centric massage therapy encounters, completed its Series A funding round worth USD 30 million. This funding round was spearheaded by Valor Siren Ventures and Valor Equity Partners, an early financier in Tesla and SpaceX.

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Based on spa type, the spa market is categorized into day spas, resort/hotel spas, medical spas, destination spas, wellness retreats , and others. The resort/hotel spas segment held around USD 19 billion in market revenue in 2022. The rising tourist attractions are fueling the resort/hotel spas segment progression. For instance, in June 2023, Wyndham Hotels & Resorts, a global leader in hotel franchising that owns around 9,100 hotels across more than 95 countries, inaugurated the Ajul Luxury Hotel & Spa resort. The launch of such new luxury hotel/resort spas will allow the spa industry to register growing by 2032.

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North America led the spa market with a share of over 35% in 2022. The concept of wellness was being integrated into various aspects of the spa experience. Spas were offering holistic wellness programs that combined traditional treatments with fitness classes, mindfulness sessions, nutritional guidance, and more. This integrated approach aimed to address not only physical relaxation but also mental and emotional well-being. Spas were starting to leverage technology to enhance customer experiences. This included online booking systems, mobile apps for service selection, and even incorporating wellness tracking devices to provide personalized recommendations based on clients' data.

Spa Market Share

Major players operating in the spa market are

• Marriott International
• Thalasso Spa
• ESPA
• Mandarin Oriental Hotel Group
• Canyon Ranch
• The BodyHoliday
• Six Senses

Spa Industry News

• In August 2023, Artisan's Rejuvenation Med Spa, a prominent medical spa in the Brazos Valley, introduced CellSound Aesthetics, it’s latest groundbreaking & 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 resorts collection. Encompassing 45 rooms, a pool, a bar, a lounge, a restaurant, a spa, a wellness center, and an array of personalized health & wellness programs & retreats, this new property was set to enrich the brand’s offerings.

The spa market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Million) from 2018 to 2032, for the following segments

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By Service Type, 2018 – 2032

• Massage Therapies
• Facial Treatments
• Body Scrubs & Wraps
• Medical & Cosmetic Procedures
• Others

By Spa Type, 2018 – 2032

• Day Spas
• Resort/Hotel Spas
• Medical Spas
• Destination Spas
• Wellness Retreats
• Others

By Customer Preference, 2018 – 2032

• Luxury experience
• Budget-friendly experience

By Age Group, 2018 – 2032

• Below 18
• 19 to 35
• 36 to 50
• Above 50

By End User, 2018 – 2032

• Men
• Women

The above information is provided for the following regions and countries

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Nordics
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • Singapore
  • Indonesia 
• Latin America
  • Brazil
  • Mexico
  • Argentina
• MEA
  • UAE
  • South Africa
  • Saudi Arabia