Global Spa Market Forecasted to Gain Steady Growth at a CAGR of 5.7% through 2026

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Dublin 2, Ireland, 2018-Jan-31 — /EPR Network/ — Growing prevalence of chronic diseases such as bronchitis and asthma is expected to rev up demand for spa therapies globally. In addition, increasing demand for pain management is expected to impact growth of the global spa market positively. This report, compiled by Fact.MR, provides in-depth analysis of the global spa market for the forecast period 2017-2026, and offers key insights about future market direction.

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The next section offers an overview of the global spa market. This comprises an introduction to the market, along with a standard definition of the product – spa. In this section, market value and year-over-year growth is offered to the readers. Year-over-year growth provides readers with a broader view of growth patterns over the forecast period.

The report’s succeeding section focuses on drivers, restraints and key trends from macroeconomic, demand, and supply perspectives. Impact analysis of weighted average model-based growth drivers is contained in the report for better provision of decision-making insights to clients.

In order to offer readers with up-to-date information about the latest advancements in the global spa market, the report provides updates about market opportunities, which can benefit leading manufacturers of spa. With continuous evolution of the consumer goods sector, keeping a record of latest developments and trends is fundamental for spa manufacturers to formulate key business strategies. Detailed insights about raw material sourcing, supply chain, pricing analysis, list of distributors, and cost structure are provided in this section.

Chronic Diseases to Underscore Lucrative Growth Opportunities

Prevalence of chronic diseases such as asthma will continue to boost demand for range of spa therapies in the global market. Patients of asthma have swollen airways that leads to breathing problems. Shortness of breath, coughing and wheezing are some of the common problems that the asthmatic patients face regularly. According to CDC, 7.6% of the adults who fall in the age bracket of 18 years and above i.e., 18.4 million people in the U.S. have asthma. Increased spending on relaxing therapies such as sauna and spa treatment provides the asthmatic patients a respiratory relief.

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Spending on steam rooms and saunas help in eliminating the toxins through skin and opens airways of the asthmatic patients. Moreover, increasing spending on steam baths help in the treatment of the upper respiratory problems, coughing and bronchitis through loosening phlegm and mucus. Growing need for asthmatic relief and relaxation is expected to contribute towards growth of the global spa market.

However, the global spa market is expected to witness inhibiting growth due to various factors such as expensive spa packages and continues to remain a conventional therapy for pain management and asthmatic relief. Increasing number of new players and one-stop spa services in the global market is expected to rev up the competition levels for the established market players. In addition, patients with severe case of chronic diseases are suggested not to spend on spas. These factors are likely to inhibit growth of the global spa market during the forecast period.

Hotel/Resort Spa to Represent a Leading Segment

Preference for relaxing therapies during trips and tourism has led to surge in demand for spa therapy in hotel/resort spas globally. On the basis of product type, the hotel/resort spas segment is expected to generate significant revenues in the global spa market during the forecast period. However, the thermal/mineral springs spas product type segment is expected to register a robust CAGR through 2026.

Competition Tracking

Leading market players operating in the global spa market include Grand Resort Bad Ragaz, COMO Shambhala Estate, Canyon Ranch, Forte Village Resort, St. Regis Bahia Beach Resort, Chiva Som International Health Resort, The Connaught, Four Seasons Resort Bora Bora, Rancho La Puerta and The Chedi Andermatt.

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