NEW YORK, Dec. 15, 2021 /PRNewswire/ — Technavio’s latest research report on the Spa Market offers a comprehensive analysis of new product launches, the latest trends, drivers, and challenges. 33% of the growth will originate from Europe for the spa market. Germany and France are the key markets for spas in Europe. Market growth in this region will be faster than the growth of the market in North America. The rise in the working population and growing wellness tourism will facilitate the spa market growth in Europe over the forecast period.
The spa market size is expected to increase by USD 22.08 billion, at a CAGR of 6% from 2020 to 2025 as per the latest report by Technavio.
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Market Dynamics
Factors such as increase in adoption of facial, body, and hair treatments in spas, a growing wellness tourism industry, and the brand positioning enabling premium pricing for spa services will drive the growth of the Spa Market. However, fragmented market might hamper market growth. This spa market analysis report also provides detailed information on other upcoming trends that will have a far-reaching effect on the market growth
Company Profiles
The spa market is fragmented and the vendors are deploying growth strategies such as strategic alliances with small and regional vendors to compete in the market. Some of the companies covered in this report are Aspira Spa, Cal-a-Vie Health Spa, 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., etc.
Some Companies with Key Offerings
- Aspira Spa – The company offers a line of services such as massages, facials, dynamic envelopments for the body, the healing arts, specialty treatments, salon and nail services, and spa classes among others.
- Cal-a-Vie Health Spa – The company offers a wide range of services under the spa and beauty category, including Cal-A-Vie vinotherapy massage, Cal-A-Vie vinotherapy grape skin wrap, Cal-A-Vie vinotherapy Vichy scrub, aromatic awakening massage, bamboo massage, poolside massage, and many others.
- Gaia Retreat & Spa – The company offers a line of products such as Gaia Deluxe, Bayron Bay Dream, Inner Serenity, and Dreamtime Travel among others.
- Hand & Stone Franchise Corp – The company offers a line of products such as therapeutic massage, facial, and hair removal services among others.
- HOT SPRINGS RESORT & SPA – The company offers a wide range of massage modalities from relaxation to deeper more therapeutic massages along with mineral baths.
Competitive Analysis
The report includes the competitive analysis, a proprietary tool to analyze and evaluate the position of companies based on their industry position score and market performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.
Market Segmentation
- By Type, the market is classified into day/club/salon spa, hotel/resort spa, destination spa, medical spa, and others
- By Geography, the market is classified as Europe, APAC, North America, South America, and MEA.
Related Reports –
Wellness Tourism Market –The wellness tourism market size is expected to grow by USD 315.47 billion and record a CAGR of 7% during 2020-2024. Download a free sample now!
Gym and Health Clubs Market –The gym and health clubs market has the potential to grow by USD 101.18 billion during 2021-2025, and the market’s growth momentum will decelerate at a CAGR of 15.39%. Download a free sample now!
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Spa Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2020 |
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Forecast period |
2021-2025 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 6% |
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Market growth 2021-2025 |
USD 22.08 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
4.30 |
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Regional analysis |
Europe, APAC, North America, South America, and MEA |
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Performing market contribution |
Europe at 33% |
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Key consumer countries |
US, China, Germany, France, and Japan |
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Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
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Companies profiled |
Aspira Spa, Cal-a-Vie Health Spa, 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. |
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Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period, |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio
