Luxury Spa Services Market : Global Industry Size, Share, Statistics and Forecast 2015 - 2027

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 with back problems, such as a spinal injury, also get spa treatments for better healing.

Luxury Spa Services Market

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The global Luxury Spa Services Industry has generated over USD 32 billion in revenue during the pandemic year. However, making a strong comeback, the demand will likely 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 tremendous growth potential.

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 a helpful healing technique. Spa services 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
  • The Luxury Spa Services industry offers direct employment to over 1,000,000 people
  • The number of people vising resorts in the U.S. reached its peak in 2019 with 192 million visits
  • Around 28% of all people vising hotels come with the intention of relaxation and stress management
  • Luxury Spa Services cost per day can cost up to USD 6,500

The rise in Disposable Income

One of the primary 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 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 experiencing severe problems with their backs or lower legs tend to get such services, not for leisure but to 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

The Pandemic had slowed the luxury spa market. With Corona Virus hitting in full swing, every market 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. The high cost of luxury spa services is another hurdle to the growth of the 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 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, and Other are major types of luxury spa services. Day spa held over 20% share in total revenue generation in 2020. Critical spa services dominating the global market certainly come from Turkey. Their invention of the “Turkish Hammam” has been pretty successful. So much, so that other countries are also adopting this spa service at their salons. 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 a hand-woven Turkish cloth called a “kese” that you can use to wipe yourself.

Frequently asked questions

Likewise other industries, COVID 19 also taken a toll on Luxury Spa Services market with around 27.21% decline in 2020 in its revenue as compare to 2019

Europe is the largest regional market with highest share in the total volume of Luxury Spa Services consumed in 2020

Increasing popularity of relaxation & stress management is driving demand for Luxury Spa Services

Day spa Luxury Spa Services segment dominated the Luxury Spa Services market in 2020

End-user segment of Luxury Spa Services market is dominated by Men

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Published Date:  Dec 2021
Category:  Consumer Goods
Report ID:   60453
Report Format:   PDF
Pages:   120
Rating:    4.6 (45)
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