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Spa Market

Global Spa Market size was valued at US$ 106.20Bn. in 2019 and the total revenue is expected to grow at 5.9% through 2021 to 2027, reaching nearly US$ 167.99 Bn.<br>

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Spa Market

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  1. Spa Market: Industry Analysis and Forecast (2021-2027) Global Spa Market size was valued at US$ 106.20Bn. in 2019 and the total revenue is expected to grow at 5.9% through 2021 to 2027, reaching nearly US$ 167.99 Bn. Global Spa Market Overview: The Global Spa Market is witnessing a significant growth over the forecast periods owing to increase in awareness about the health benefits offered by spa. Spa is a personalized service designed to deliver peace of mind, fitness, pleasure, and wellness. It is a collective term referred for various services such as facial, body massage, manicure, pedicure, body treatment and others provided under expert supervisions that rejuvenates the brain and body. Rising demand from developing economies due to increase in disposable income is also main factor for the growth of spa market. In 2020, the market size of spa was US $51 Bn. It is expected to grow at 5.9% over the forecast period 2021-2027, reaching nearly 167.99 Bn. by 2027.

  2. To know about the Research Methodology :- Request Free Sample Report 2019 is considered as a base year to forecast the market from 2021 to 2027. 2020’s market size is estimated on real numbers and outputs of the key players and major players across the globe. Past five years trends are considered while forecasting the market through 2027. 2020 is a year of exception and analyzed specially with the impact of lockdown by region Global Spa Market Dynamics:

  3. The global spa market is expecting significant growth over the forecast period owing to consumers are increasingly becoming more aware of the health and look for better solution that are effective and help in overall development of body. In addition, there has been a prominent change in the lifestyle of consumers, as most of them have a hectic lifestyle which leads to several health issues. So, this grows the market for spa. The increasing consumer interest in health and wellness is a main key factor for growing the demand for spa market. Furthermore, need for stress management is contributing to the demand of spa in these developing nations. The market is expected to increase significantly in the near future, as top key players rapidly adapted new marketing to get edge over other competitor. Companies are continuously involved in promoting spa services not only amongst higher income groups but also in middle income groups through adjusting their pricing policies and discounting offers. Key players make a huge investment in the research and development of healthy, effective, and low-cost spa varieties which are benefited to cure all mental as well physical disease. Rising wellness tourism to cure is also responsible for growth spa market. Spa are increasingly preferred over other health treatments for many diseases because they are very effective in some diseases which are not cured by regular allopathic treatments. Spa are a popular snack that has been placed in the many popular supermarkets. Key players are also stressing on the customer satisfaction by improving their services to international level through on job trainings to their employees and spa owners also started invest in spa education. Lack of skilled manpower is the biggest challenge in the global spa market. Currently in majority of the

  4. developing countries massage therapists have lack of professional training & knowledge about spa which lead to less benefit to consumer. High cost is another major challenge for spa market due to which large segment of society not able to afford it which hinder the market growth of spa. Recently due to COVID situation the spa business has completely stopped or partly with some guidelines owing to government regulations and in future possibility of such conditions is not denied. Recently, salon software supplier and Zenoti (a cloud-based spa) announced strategic partnership with Sutherland Global. According to this partnership they improve the customer experience by expanding real- time service in both chat and phone-based platforms to address a large portion of customer support issues in minutes. Global Spa Market Segment Analysis: Based on the Type, the Global Spa Market is segmented into Salon Spa, Hotel Spa, Medical Spa, Destination Spa, Mineral Spa and Others. Hotel Spa segment dominate the global spa market owing to rise in importance of wellness tourism around the world. The big hotel brands and resorts continuously adding wellness-oriented brands to their service portfolio. Hotel spa held 38.5% of revenue share in 2020. Destination Spa have major market share in global spa market due to growing demand for traditional spa such as Swedish, Ayurveda and Turkish massage. The majority of people visit destination spa to cure their year prolonged diseases and wok on their fitness. Salon spa is useful to cure skin, hair, and other beauty problems. It has major market share in global spa market because of rise in trend among the people to look cool, beautiful and young. Spa is also helpful in medical industry to cure mental as well as

  5. physical disorder. Mineral spa helps to improve sleep, detoxify overall body, reduce high B.P., and Muscle and Skin health. Global Spa Market Regional Analysis: Asia Pacific dominates the global spa market due to rise in disposable income and expansion of tourism industry in developing countries like India and China is a main factor responsible for growth of spa market in this region. The growing hospitality industry and rise in popularity of traditional spas such Ayurveda and Thai massage boost the market in the Asia Pacific region. In 2020, Asia Pacific held 30% share of the global spa market.

  6. Europe is expected to grow at higher CAGR of xx% during the forecast period. Factors attributing to the strong growth of this region are rise in health awareness and increase in popularity of traditional spas. In Europe government regulations and policies are favourable for the growth of spa. Increase in health awareness among ordinary people and many key players offering services in a variety of way is another factor drive the popularity of spas in the European region. In 2019, Europe spa market was worth US $ 38.6 Bn. Middle East and Africa have slow growth in spa market due to low awareness among the people regarding spas and believe on their traditional methodologies of treatments of different diseases is the biggest barrier for entry of spas in this region. The objective of the report is to present a comprehensive analysis of the global spa market to

  7. the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding the global spa market dynamics, structure by analyzing the market segments and project the global spa market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global spa market make the report investor’s guide. For more information of visit: https://www.maximizemarketresearch.com/market- report/global-spa-market/115472/ Global Spa Market Scope: Inquire before buying

  8. Global Spa Market, by Region • North America • Europe • Asia Pacific • Middle East and Africa • South America Global Spa Market Key Players • Planet Beach • Hot Springs Resort & Spa • Four Seasons Hotel Limited • Massage Envy • Lanserhof • Jade Mountain • Rancho La Puerta • Mandarin Oriental Hotel Group

  9. • Omni Hotels & Resorts • Emirates Palace Spa • Mayfair Pevonia Spa • Kaya Kalp – the Royal Spa • Angsana Oasis Spa • The Spa at Ranbanka • Ananda In The Hills Customization of the report: Maximize Market Research provides free personalized of reports as per your demand. This report can be personalized to meet your requirements. Get in touch with us and our sales team will guarantee provide you to get a report that suits your necessities. About Maximize Market Research: Maximize Market Research provides B2B and B2C research on 20,000 high growth emerging opportunities & technologies as well as threats to the companies across the Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors. Contact Us : Email Id: sales@maximizemarketresearch.com

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