Dec 03, 2022, 04:30 ET
SAN DIEGO, Dec. 3, 2022 /PRNewswire/ — Data Bridge Market Research has recently published a Report, titled, “Spa Market” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. Spa report provides exact information about market trends, industrial changes, and consumer behaviour etc. The report assists in outlining brand awareness, market landscape, possible future issues, industry trends and customer behaviour about Spa industry which eventually leads to advanced business strategies. Being a verified and reliable source of information, this market research report offers a telescopic view of the existing market trends, emerging products, situations and opportunities that drives the business in the right direction of success. The Spa report has been framed with the proper use of tools like SWOT analysis and Porter’s Five Forces analysis methods.
Data Bridge Market Research analyses that the spa market was valued at USD 60.22 billion in 2022 and is expected to reach USD 155.61 billion by 2030, registering a CAGR of 12.60% during the forecast period of 2023 to 2030. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and consumer behaviour.
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A spa is a place where mineral-rich spring water is used to give medicinal baths. Spa towns or spa resorts normally offer several health treatments, which are also well-known as balneotherapy. The term ‘spa’ encompasses an extensive range of services and can mean everything from a massage and small facial business to expansive destinations of pampering. These locations of relaxation and bathing were believed to benefit well-being and health.
Today, spas are offering personalized premium and super-premium experiences through many wellness conducts and programs. Maintaining a mentally and physically healthy lifestyle is anticipated to increase the demand of the spa therapies. Furthermore, rapid urbanization, sedentary lifestyles and working professionals’ hectic schedules have augmented therapeutic spas’ preference to relieve stress and anxiety. As a result, spas have include customized best and super-premium capabilities due to which numerous spas treatments and services are gaining momentum.
Opportunities for Players:
- Rapid urbanization
Rapid urbanization is anticipated to create ample opportunities for the growth of the market. Urbanization mentions to the movement of population from rural to urban areas and the growing densities of human population in urban areas. Changing lifestyles and increasing stress levels associated with growing urbanization promote demand for spas. For instance, according to the Department of Economic and Social Affairs report, 68% of the world’s population (2.5 billion) are estimated to live in urban areas by 2050 in United Nations. Thus, rapid urbanization will boost the market growth in upcoming years.
- Increasing investments
There have been rising developments and investments between major market players in recent time that led to many opportunities for the market growth. Monomoy Capital Partners, a US-based private investment firm, acquired Marquis Hot Tubsand Artesian Spas In January 2022 for an undisclosed amount. The combined pool and spa wellness platform will generate a multi-branded hot tub and provide customers with an extensive portfolio of outdoor aquatic products.
Some of the major players operating in the Spa market are:
- Planet Beach Franchising Corporation (U.S.)
- Hot Springs Resort & Spa (U.S.)
- Four Seasons Hotel Limited (Canada)
- ME SPE Franchising, LLC. (U.S.)
- Lanserhof (Austria), Jade Mountain (U.S.)
- Rancho La Puerta Inc. (U.S.)
- Mandarin Oriental Hotel Group Limited (China)
- Crown Resorts Limited (Australia)
- Caesars Entertainment (U.S.)
- Las Vegas Sands Corporation (U.S.)
- Melco International Development Limited (China)
- Genting Berhad (Malaysia)
- Wynn Resorts Holdings, LLC (U.S.)
- Galaxy Entertainment Group Limited (China)
- Omni Hotels & Resorts (U.S.)
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- In March 2021, Zenoti, a cloud-based software provider for salons and spas, established a strategic alliance with Sutherland Global. Through the growth of real-time service across phone and chat and based platforms, the company will be capable to swiftly resolve the majority of customer support concerns, thus improving the customer experience.
- In January 2021, Touch-Free Wellness Spa is a US-based new spa business was started with touch-free spa technology to deliver spa services without the touch of a massage practitioner or therapist. The spa uses cryotherapy, anti-gravity robotic massage chairs, hydro-massage chairs, infrared sauna pods, lymphatic compression massages, near-infrared light therapy and whole body vibroacoustic treatments to deliver a hands-off spa experience.
The report provides insights on the following pointers:
Market Penetration: Comprehensive information on the product portfolios of the top players in the Spa market
Product Development/Innovation: Detailed insights on upcoming technologies, R&D activities, and product launches in the market
Competitive Assessment: In-depth assessment of the market strategies, and geographic and business segments of the leading players in the market
Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies
Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the Spa Market
The investment made in the study would provide you access to information such as:
- Spa Industry [Global – Broken-down into regions]
- Regional level split [North America, Europe, Asia Pacific, South America, Middle East & Africa]
- Country wise Market Size Split [of important countries with major market share]
- Market Share and Revenue/Sales by leading players
- Market Trends – Emerging Technologies/products/start-ups, PESTEL Analysis, SWOT Analysis, Porter’s Five Forces, etc.
- Market Size
- Market Size by application/industry verticals
- Market Projections/Forecast
Market Dynamics: Spa Market
- Increased wellness and health and activities
The market’s expanding momentum is due to some factors such as increasing prevalence of lifestyle-related illnesses and the shifting importance toward wellness and health activities. Many people are turning to wellness and other personal care activities such as sauna treatments, spa therapies and other body therapies as a result of urbanization, hectic lifestyles and an increase in the working population. Spa treatments have numerous advantages, including improving sleep, making skin more luminous, reducing stress, releasing dopamine and serotonin, reducing headaches, relieving pain, improving blood flow and circulation, helping with anti-aging problems, and boosting confidence others.
- Increasing demand for anti-ageing treatments
The rising need for anti-ageing treatments for acne, wrinkles, clogged pores and hyper-pigmentation is further expected to boost the growth of the market. The growing old age population is progressively spending on non-surgical treatments such as peel and exfoliation to improve their mental and physical health. Anti-stress treatment and detoxification of the system will continue to increase the demand for spa treatments in the global market. Such factors are anticipated to drive the market during the forecast period.
Consider Data Bridge Market Research for this Report which would Help Impact Your Revenues Positively
- This study offers the latest product news, trends, and updates from the industry’s leading players who have leveraged their market position.
- It also offers strategic plans and standards to arrive at informed business decisions adopted by the main players, thereby advocating your go to market strategies.
- In addition, it offers insights into the dynamics of customer behaviour that can help the organization better curate market strategies
- Usage of exclusive tailor-made tools along with primary research, secondary research and our in-house data model helps us in extracting the exact market numbers
- Mapping the customer in 3P grid comprising of Purpose, Planning and Positioning, thereby delivering a solution by keeping the prospecting client at the sweet spot
- The market research report includes all of the market’s valuable elements, such as sales growth, product pricing & analysis, growth opportunities, and recommendations for addressing market challenges
- The report covers all the primary mergers & acquisitions, alliances, and collaborations that have generated additional opportunities for market players or in some cases, challenges
To Gain More Insights about this Research, Visit @ https://www.databridgemarketresearch.com/reports/global-spa-market
Key Industry Segmentation: Spa Market
- Physical Fitness
- Other Service Types
- Hotel/Resorts Spa
- Destination Spa
- Day/Salon Spa
- Medical Spa
- Mineral Spring Spa
- Other Facility Types
Regional Analysis/Insights: Spa Market
The countries covered in the spa market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Europe dominates the global spa market due to the growing popularity of Ayurveda massage, lomi massage, Thai massage and other among the consumers mostly in the U.K., Germany and France. Moreover, growing popularity of wellness among normal people, numerous spa vendors in Europe have established an extensive range of services to boost healthy living.
Asia-Pacific is anticipated to be the fastest developing region during the forecast period of 2023-2030 due to the expansion of the tourism industry and increasing disposable income, especially in developing nations such as China and India. Moreover, the flourishing hospitality industry and the increasing popularity of traditional spas such as Ayurveda and Thai massage in this region would continue to drive the market growth.
Table of Contents:
2. Market Segmentation
3. Executive Summary
4. Premium Insights
5. Global Spa Market: Regulations
6. Market Overview
7. Global Spa Market, By Service Type
8. Global Spa Market, By Facility Type
9. Global Spa Market, By End User
10. Global Spa Market, By Region
11. Global Spa Market: Company Landscape
12. SWOT Analyses
13. Company Profile
15. Related Reports
To Check the Complete Table of contents, click here @ https://www.databridgemarketresearch.com/toc/?dbmr=global-spa-market
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