Global Luxury Spa Services Market Analysis

Spa services have become quite the lucrative market, to be honest. After a hard-working day or week at work, people visit luxury salons more often than ever to pamper themselves. With people becoming more competent professionally, they have been excelling in their careers, which eventually also requires them to have some downtime by relaxing at a luxury spa salon. Luxury spa services have also been booming due to people visiting for medical reasons. Those who have problems with their backs, such as a spinal injury, also get spa treatments for better healing.

Global Luxury Spa Services Industry has managed to generate revenue of over USD 32 billion during the pandemic year. However, making a strong comeback, the demand is likely to pick a pace to reach over USD 82 billion by the end of 2027. The global Luxury Spa Services market is a multibillion-dollar industry with huge potential to grow.

The word “spa” originates from the Latin term “Solus Per Aqua,” which loosely translates to “healing through water.” In early times, thermal therapy was considered to be a helpful healing technique. Spa services basically cash in on that, which helps them as people obtain such services for numerous reasons. More techniques have been added to thermal therapies, including aromatherapy (use of aromas), cryotherapy (use of cold temperature), and many essential oils.

Interesting Facts about Luxury Spa Services Industry

• There are around 150 thousand spas around the world
• Luxury Spa Services industry offers direct employment to over 1,000,000 people
• Number of people vising spa in U.S. reached to its peak in 2019 with 192 million visits
• Around 28% of all people vising spa come with intention of relaxation and stress management
• Luxury Spa Services cost per day can cost up to USD 6,500

Rise in Disposable Income

One of the major reasons more people turn to luxury spa services is the increase in their disposable incomes. Earning more money enables them to obtain more luxuries for themselves, including visiting a luxury spa salon. People who work so much often have their knots tied that they want to be loosened; enter: a luxury spa salon. The stability of an economy has a huge role to play in the boom of any luxury market. The more an economy functions well, the more it’ll pay its citizens, and the more they’ll spend on luxury products and services.

Increasing Stress and Growing Medical Complexities 

Another reason people visit luxury spa services is for medical purposes as a de-stress therapy. People who have been experiencing severe problems with their backs or lower legs tend to get such services, not for leisure, but to actually heal. Sometimes, extensive medical treatment may not work and even be unnecessary. However, getting spa therapy of sorts often helps people feel better. Spa specialists slowly rub their backs with oils, hitting the right spot and eventually fixing the medical issue. Stress management is also one of the major reasons fuelling the growth of luxury spa services.

COVID 19 Pandemic and High Cost

This goes without saying, but the Pandemic had really slowed the luxury spa market. With Corona Virus hitting in full swing, every market in the world had to shut down and stop providing its useful services to clients. The entire spa business surely suffered a loss. However, with the Pandemic slowing down, things are looking up again for spa businesses. High cost of luxury spa services is another hurdle for the growth of luxury spa services industry.

Relaxation & Stress Management to Dominate the Luxury Spa Services

Relaxation & Stress Management, Skin Care, Maintenance Treatment, Pain Management/Medical and Others are some of the major applications of luxury spa services. Among all, relaxation & stress management held over 28% share in the total revenue generation in 2020. While, Day Spa, Health Spa, Destination Spa, Resort or Hotel Spa, Holistic or Alternative Healing Spa, Other are major types of luxury spa services. Day spa held over 20% share in total revenue generation in 2020. Key spa services that have been dominating the market globally certainly come from Turkey. Their invention of the “Turkish Hammam” has been pretty successful. So much so that other countries are adopting this spa service at their salons as well. The Turkish Hammam takes you to a huge chamber where you bathe for 45 minutes—followed by a traditional body scrub that helps you get all the tension away from your muscles. They also provide you with a hand-woven Turkish cloth called a “kese” that you can use to wipe yourself.

Frequently asked questions about global Luxury Spa Services industry