DUBLIN--(BUSINESS WIRE)--The "Spa Services Market - Forecasts from 2020 to 2025" report has been added to ResearchAndMarkets.com's offering.
The Global Spa services market is estimated at US$19.429 billion for the year 2019. The spa services market is poised to surge at a notable rate throughout the forecast period owing to the rising adoption of these services especially in the developed economies due to the presence of a higher proportion of urban population along with the hectic lifestyle of the people.
Growing concerns regarding personal care and wellness
The rising concerns regarding the personal health and wellness treatments especially across the developing economies is one of the prime factors which is bolstering the spa services market growth during the coming years. In addition, the rising adoption of these services primarily across geriatric group due to multiple factors such as relaxation, stress, boosting of immunity system coupled along with the growing percentage of geriatric population is also one of the factors which is bolstering the demand for spa services and thereby adding up to the market growth significantly during the coming years. For instance, according to the World Bank Group, the population ages above 65(% of the total population) in China reached 10.921% by 2018 from 7.816% in 2008. Similarly in India, it increased from 4.953% in 2008 to 6.18% by 2018.
Lack of skilled professionals hindering the market growth
There is a lack of trained professionals at present and this is posing a threat to spa services market growth to some extent during the forecast period. Due to the lack of professional training facilities especially in the developing economies, there is a lack of highly trained professionals to deliver proper and effective services. This, in turn, is projected to increase the investments towards education and training services. In addition, the high costs of services along with high costs of training are some of the factors that are expected to moderately inhibit the growth of the market primarily in the developing economies.
Medical Spa to show notable growth
On the basis of type, the global spa services market has been classified into medical spa, salon spa, hotel spa, destination spa, and others. The daily spa is anticipated to hold a noteworthy share in the spa services market owing to the fact that there is high adoption of the daily spa on account of a wide number of services offered by these settings. The medical spa is anticipated to show decent growth over the forecast period as these medical spa is gaining traction, especially in the developing economies owing to various medical treatments related to anti-aging and other skin related treatments. This rising disposable income coupled with growing concerns across the female population for various skin treatment services and various minimally invasive personal care treatments also supports the growth of the medical spa services market in the coming years.
Asia Pacific region to show robust growth
Geographically, the global spa services market has been segmented on the basis of North America, South America, Middle East and Africa and Asia Pacific. The market in the Asia Pacific region is projected to show robust growth during the forecast period owing to the fact that the rising disposable income coupled with the growing concerns regarding the persona care and wellness across the millennials are some of the factors bolstering the market growth in this region. In addition, the rising geriatric population in countries like Japan and China are also supplementing the demand for spa services during the forecast period and beyond. North America is anticipated to hold a noteworthy share in the market on account of the high adoption of these services as these are considered as a part of their daily routine due to concerns about a healthy living lifestyle.
Key Topics Covered:
1. Introduction
1.1. Market Definition
1.2. Market Segmentation
2. Research Methodology
2.1. Research Data
2.2. Assumptions
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.4. Industry Value Chain Analysis
5. Global Spa Services Market Analysis, By Type
5.1. Introduction
5.2. Medical Spa
5.3. Hotel Spa
5.4. Salon Spa
5.5. Destination Spa
5.6. Others
6. Global Spa Services Market Analysis, By Geography
6.1. Introduction
6.2. North America
6.3. South America
6.4. Europe
6.5. Middle East and Africa
6.6. Asia Pacific
7. Competitive Environment and Analysis
7.1. Major Players and Strategy Analysis
7.2. Emerging Players and Market Lucrativeness
7.3. Mergers, Acquisitions, Agreements, and Collaborations
7.4. Vendor Competitiveness Matrix
8. Company Profiles
8.1. Chic La Vie
8.2. Planet Beach Franchising Corporation
8.3. Massage Envy Franchising LLC
8.4. THE WOODHOUSE SPAS CORP
8.5. Elements Therapeutic Massage, LLC
For more information about this report visit https://www.researchandmarkets.com/r/ti430h
