Breaking News Bar

Business News and Information

Spa Market to Accelerate at a CAGR of Over 4% During 2020-2024|COVID-19 Market Planning Structure|Technavio

Technavio has been monitoring the spa market and it is poised to grow by USD 25.48 billion during 2020-2024, progressing at a CAGR of over 4% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210119005543/en/

Technavio has announced its latest market research report titled Global Spa Market 2020-2024 (Graphic: Business Wire)

Technavio has announced its latest market research report titled Global Spa Market 2020-2024 (Graphic: Business Wire)

Click & Get a Free sample report in minutes

Impact of COVID-19

The COVID-19 pandemic continues to transform the growth of various industries, however, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have a low impact on the spa market. The market growth in 2020 is likely to decrease compared to market growth in 2019.

Frequently Asked Questions:

  • Based on segmentation by type, which is the leading segment in the market?
    The day/club/salon spas are the leading segment in the market.
  • What are the major trends in the market?
    The increase in the availability of flotation therapy spa services is the major trend in the market.
  • At what rate is the market projected to grow?
    The market is projected to accelerate at a CAGR of over 4%.
  • Who are the top players in the market?
    Aspira Spa, Clinique La Prairie, Gaia Retreat & Spa, Hand & Stone Franchise Corp., HOT SPRINGS RESORT & SPA, Kempinski Hotels SA, Lanserhof GmbH, Marriott International Inc., ME SPE Franchising LLC, Rancho La Puerta Inc. are the top players in the market.
  • What are the key market drivers and challenges?
    The market is driven by the growing wellness tourism industry. However, a fragmented market will challenge growth.
  • How big is the APAC market?
    34% of the market’s growth will originate from APAC during the forecast period

Related Reports on Consumer Discretionary Include:

Global Wellness Tourism Market- The wellness tourism market is segmented by type (domestic and international), application (physical, psychological, and spiritual), and geography (APAC, Europe, MEA, North America, and South America). Click Here to Get an Exclusive Free Sample Report

Global Adventure Tourism Market- The adventure tourism market is segmented by type (domestic adventure tourism and international adventure tourism), category (thrill tourism, eco-tourism, accessible tourism, and ethno-tourism), contribution toward GDP (indirect contribution, direct contribution, and induced contribution), and geography (APAC, Europe, MEA, North America, and South America). Click Here to Get an Exclusive Free Sample Report

Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free.

View market snapshot before purchasing

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Aspira Spa, Clinique La Prairie, Gaia Retreat & Spa, Hand & Stone Franchise Corp., HOT SPRINGS RESORT & SPA, Kempinski Hotels SA, Lanserhof GmbH, Marriott International Inc., ME SPE Franchising LLC, and Rancho La Puerta Inc. are some of the major market participants. Although the growing wellness tourism industry will offer immense growth opportunities, the fragmented market is likely to pose a challenge for the market vendors. In a bid to help players strengthen their market foothold, this spa market forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies.

Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.

Spa Market 2020-2024: Segmentation

The spa market is segmented as below:

  • Type
    • Day/Club/Salon Spa
    • Hotel/Resort Spa
    • Destination Spa
    • Medical Spa
    • Others
  • Geography
    • Europe
    • APAC
    • North America
    • South America
    • MEA

To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR44687

Spa Market 2020-2024: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The spa market report covers the following areas:

  • Spa Market Size
  • Spa Market Trends
  • Spa Market Industry Analysis

This study identifies an increase in the availability of flotation therapy spa services as one of the prime reasons driving the spa market growth during the next few years.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.

Register for a free trial today and gain instant access to 17,000+ market research reports.

Technavio's SUBSCRIPTION platform

Spa Market 2020-2024: Key Highlights

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will assist spa market growth during the next five years
  • Estimation of the spa market size and its contribution to the parent market
  • Predictions on upcoming trends and changes in consumer behavior
  • The growth of the spa market
  • Analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of spa market vendors

Table of Contents:

Executive Summary

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2019
  • Market outlook: Forecast for 2019 – 2024

Five Forces Analysis

  • Fiver forces summary
  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Type

  • Market segments
  • Comparison by Type
  • Day/club/salon spa - Market size and forecast 2019-2024
  • Hotel/resort spa - Market size and forecast 2019-2024
  • Destination spa - Market size and forecast 2019-2024
  • Medical spa - Market size and forecast 2019-2024
  • Others - Market size and forecast 2019-2024
  • Market opportunity by Type

Customer landscape

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • Europe - Market size and forecast 2019-2024
  • APAC - Market size and forecast 2019-2024
  • North America - Market size and forecast 2019-2024
  • South America - Market size and forecast 2019-2024
  • MEA - Market size and forecast 2019-2024
  • Key leading countries
  • Market opportunity by geography
  • Market drivers
  • Market challenges
  • Market trends

Vendor Landscape

  • Vendor landscape
  • Landscape disruption
  • Competitive scenario

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • Aspira Spa
  • Clinique La Prairie
  • Gaia Retreat & Spa
  • Hand & Stone Franchise Corp.
  • HOT SPRINGS RESORT & SPA
  • Kempinski Hotels SA
  • Lanserhof GmbH
  • Marriott International Inc.
  • ME SPE Franchising LLC
  • Rancho La Puerta Inc.

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts:

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
 
bottom clear