How is Pain Management Boosting Demand for Spa Therapies – Exclusive Study by Fact.MR

The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Spa market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Spa

The report offers actionable and valuable market insights of Spa. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Spa Market across various industries and regions.

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According to Fact.MR, the spa industry exceeded a market value of US$ 106 Bn by the end of 2020. Rising disposable incomes and inclination towards personal healthcare is surging the demand for spa treatments. In addition, sedentary and hectic lifestyles has created chronic illnesses for people. Due to this, people have shown an inclination towards various spa treatments. Thus, the global spa market is expected to represent a value of over US$ 326 Bn by registering a CAGR of 12% during the forecast period, 2021-2031. 

Spa market forecast analysis by Fact.MR

This newly published and insightful report sheds light on Market Insights of Spa, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Spa Market.

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Market Taxonomy

  • North America
  • Latin America
  • Europe
  • APAC
  • Middle East-North Africa
  • Sub-Saharan Africa
Hotel/Resort Spas
  • Destination Spas & Health Resorts
  • Spas
  • Thermal/Mineral Springs Spas
  • Other Spas

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Competitive Landscape

Prominent service providers 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

Key Takeaways from the Market Study

  • Spa services at hotels/resorts to account for 2/5th of the global spa industry revenue
  • Thermal/mineral springs spas to reach US$ 20 Bn in value by 2026
  • North America expected to hold over 40% market share for spas until 2031
  • Asia held 30% of market share for the spa industry as of 2020

 “Inclination towards personal healthcare and increase in the number of patients suffering from various ailments is propelling the sales of the spa industry.” says a Fact.MR industry.

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Key Question answered in the survey of Spa market report:

  • Sales and Demand of Spa
  • Growth of Spa Market
  • Market Analysis of Spa
  • Market Insights of Spa
  • Key Drivers Impacting the Spa market
  • Which are the Key drivers impacted by Spa market
  • Restraints Shaping Market Growth
  • Market Survey of Spa

More Valuable Insights on Spa Market

Fact.MR, in its new report, offers an unbiased Market Analysis of Spa, Sales and Demand of Spa, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.

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