In a recent published report, Kenneth Research has updated the market report for Spa Services Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Spa Services Market products.
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Moreover, the median health expenditure per capita recorded in the high-income, upper-middle income, and low & lower-middle income countries, recorded to be over USD 2,000, USD 400, and USD 100 respectively. Additionally, in the same year, the spending on health in high-income countries and in the low- and middle-income countries comprised approximately 8.2% and 6.3% of the GDP respectively.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
Global Spa Services Market is estimated to reach $192 billion by 2025; growing at a CAGR of 7.9% from 2017 to 2025. Spa services comprises body massage, pedicure, facial, manicure, and body treatment, among others. The spa services are gaining popularity due to its benefits such as body detoxification stress reliever, reducing weight, treating medical complaints, as well as improving the immune system, among others. The spa services market is likely to boost over the forecasted period due to various factors such as mounting tourism industry, increasing demand from teenagers, and hectic lifestyle of people around the world.
Major factors driving the global spa services market are rising tourism industry, advancement in standard of living, and hectic lifestyle. However, shortage of skilled personnel may hamper the market growth. Furthermore, growth in demand from emerging markets would unfold with numerous growth opportunities in the forecasted year.
Major segments of the global spa services market are type, and geography. The type segment comprises salon, destination, hotel, medical, mineral, and other types.
Geographically, the global spa services market is categorized into North America, Europe, Asia-Pacific, and Rest of the World (RoW). North America is further bifurcated into U.S., Canada, and Mexico whereas Europe segment consist of Germany, Russia, France, and Rest of Europe. Asia-Pacific is segmented into Japan, China, Thailand, Indonesia, and Rest of Asia-Pacific while RoW is bifurcated into South America, Middle East, and Africa.
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The major players competing in the market are Clarins Group, Emirates Palace, Trailhead Spa, Four Seasons Hotel Limited, Jade Mountain, Massage Envy Franchising LLC, Six Senses Hotels Resorts Spas, Gaia Retreat & Spa, Lanserhof Tegernsee, Belmond Maroma Resort & Spa, and Massage Envy Franchising LLC, among others.
The key takeaways from the report
The report will provide detailed analysis of Global Spa Services Market with respect to major segments such as type
The report will include the qualitative and quantitative analysis with market estimation over 2016 – 2025 and compound annual growth rate (CAGR) between 2017 and 2025
Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
An exhaustive regional analysis of Global Spa Services Market has been included in the report
Profile of the key players in the Global Spa Services Market will be provided, which include key financials, product & services, new developments and business strategies
Scope of the Global Spa Services Market
Type Segments
Salon
Destination
Hotel
Medical
Mineral
Other Types
Geographical Segments
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North America
U.S.
Canada
Mexico
Europe
Germany
Russia
France
Rest of Europe
Asia-Pacific
Japan
China
Thailand
Indonesia
Rest of Asia-Pacific
RoW
South America
Middle East
Africa
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