01.11.24
The global professional spa services market is anticipated to reach a value of $114.88 billion in FY 2023, showcasing an increase from $109 billion in the fiscal year 2022, per FactMR.
Projections indicate a compound annual growth rate (CAGR) of 5.4% from 2023 to 2033, with the market expected to achieve a value of $194.39 billion by the conclusion of 2033.
Professional spa services – a sector encompassing health management and rejuvenating amenities – include a diverse range of therapeutic treatments such as massages, body scrubs, steam baths, beauty services, sauna baths, manicures and pedicures.
A Rising Trend in Professional Spa Services
Notably, there is a rising trend in the prominence of professional spa services that offers personalized premium and super-premium experiences, leveraging various wellness programs and therapies. This strategic approach enables them to expand their clientele to individuals seeking relaxation within a tranquil environment.
According to analysts, the market's growth is further propelled by economic factors, including the availability of natural and herbal methodologies, as well as the adoption of flotation therapeutic approaches. Additionally, creative advertising strategies on social media platforms contribute to enhancing brand positioning and driving economic expansion in the professional spa services sector.
The Allure of Tailored Massage and Facial Services For Men
The dominance of the professional spa service market in 2022 was evident in North America, emerging as the leading region. Anticipated to command 24% of the global market share in 2023, this surge is attributed to the proliferation of opulent facilities and amenities, according to analysts. Notably, the US and Canada have witnessed a significant uptick in the preference for full-body massage and beauty treatments, propelling the regional market forward.
According to the “Massage Profession Research Report 2019” by the American Massage Therapy Association, the allure of massage therapies is underscored by the fact that around 47.5 million individuals in the US availed themselves of 214 million massages in 2018, marking an increase from 179 million massages received by 47.1 million individuals in 2017.
Adding to this momentum is the trend of enterprises establishing centers exclusively catering to male clientele. For instance, New Paradise Men's Spa in New York, US, has pioneered tailored massage and facial services designed by and for men. This dedicated approach has fueled the growing trend of men embracing massage, beauty, and spa services, poised to be a key driver for the expansion of the professional spa services industry in North America.
Competitive Landscape
The international business landscape is characterized by the participation of numerous global corporations. A significant portion of these entities places considerable emphasis on forming alliances, engaging in collaborations and pursuing mergers and acquisitions.
In March 2021, Kempinski Hotels SA successfully acquired Resense Spa S.p.A. with the aim of delivering upscale spa services to their esteemed clientele.
In October 2020, Hilton Hotels & Resorts unveiled the DoubleTree' hotel in Rajasthan, India, dedicated to offering top-notch fitness and spa amenities.
In February 2023, The Hyatt Hotels Corporation announced the transformation of the Hyatt Regency Scottsdale Resort & Spa at Gainey Ranch into the Grand Hyatt Scottsdale Resort & Spa by late 2024. This marks the inaugural Grand Hyatt establishment in Arizona. Xenia Hotels and Resorts, the hotel's management group, is investing approximately $110 million in a comprehensive makeover to create a distinctive and vibrant guest experience.