Spa Market Is Registering A CAGR Of 12% During The Forecast Period, 2021-2031

As per Fact.MR’s latest report, the global spa market is expected to exceed US$ 326 Bn, registering a CAGR of 12% by the end of the forecast period 2021-2031. Growing need for stress and pain management due to hectic routines has led to a surge in demand for spa therapies globally. Prevalence of chronic diseases such as asthma is further projected to impact the global market growth of spa positively.

Historically, between 2016 and 2020, the spa industry expanded at a CAGR of 6% to reach US$ 100 Bn by the end of the aforementioned period. Due to the COVID-19 pandemic, the travel and tourism industry had to suffer major financial losses as movements were restricted. This, in turn, affected the spa industry. But, as tourism places open for tourists, recreational centres are expected to observe an upsurge in sales.

The global market of spa will continue to witness growth due to various factors such as attractive packages for various therapies. In addition, demand for spa and sauna treatment is further projected to witness growth due to an increase in the severe cases of chronic diseases among customers globally. Thus, in the assessment period, the spa industry is expected to observe a positive growth.

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Spa Market – Scope of Report:

A latest publication by Fact.MR on the global Spa market evaluates the opportunities and current market landscape, and provides detailed analysis and updates about corresponding sections affecting the market.

The study offers detailed insights on key market dynamics, which include the drivers, restraints, trends, and opportunities in the market.

The principal aim of the study is to present exclusive information about how the market will perform during the forecast period of 2017-2022.

Important indicators for the successful growth of the Spa market are presented in this comprehensive report, which include Year-on-Year (Y-o-Y) growth analysis of the market, and compounded annual growth rate (CAGR), which are described in an exhaustive way in Fact.MR’s study.

This research study can support readers to know the demand for Spa supplements, and the quantitative development opportunities during the study period.

The research is beneficial for shareholders in Pulse Oximeters, including investors, manufacturers, service providers, distributors, and suppliers, and can help them in developing suitable business strategies to flourish in the market.

Insights and wisdom presented in this Fact.MR study can be leveraged by shareholders in the market, industry experts, investors, researchers, and reporters, as well as business enthusiasts.

Competitive Landscape:

Key players in the spa industry are COMO Shambhala Estate, Grand Resort Bad Ragaz, Forte Village Resort, Canyon Ranch, Chiva Som International Health Resort, St. Regis Bahia Beach Resort, Four Seasons Resort Bora Bora, The Connaught, The Chedi Andermatt and Rancho La Puerta among others.

Prominent players are emphasizing on introducing multiple spa packages oriented towards different consumer segments. However, players are likely to find maximum growth opportunities in the premium and luxury sectors. Furthermore, rising digitalization of services is intensifying competition between rival service providers.

• In March 2021, Zenoti Foundation, a cloud-based platform for spa, beauty & wellness services, partnered with Sutherland Global with the objective of improving customer experience via expansions in real-time support across both chat and phone-based channels and address queries within minutes

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Report benefits & key questions answered

• Post covid consumer spending on Spa: the report also highlights the change in the buying behavior of consumers and shifts in purchasing power, post covid-19. This information will assist the businesses to plan their production and marketing strategies.
• Spa demand outlook: the market intelligence study reports highlights the factor propelling the demand for Spa. As per the study, the demand for Spa will grow through 2031.
• Spa historical volume analysis: Fact.MR survey report provides insights into the sales registered over the last forecast year 2016 to 2020 and create estimates regarding the sales performance for 2021-2031.
• Spa consumption by demographics: the report provides consumption by demographics analysis to assist the market players in designing their expansion strategies on the basis of consumption pattern of the customers.

Spa Market Segmentations:

• Spa Type

  • Hotels/Resort Spas
  • Destination Spas & Health Resorts
  • Medical Spas
  • Thermal/Mineral Springs Spas
  • Other Spas

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