Professional Spa Services Market To Hit $194.39 Billion by 2033

The global professional spa services market is anticipated to be worth $114.88 billion in fiscal year 2023, up from $109.00 billion in fiscal year 2022, FactMR reports. 

 

From 2023 to 2033, the market is estimated to grow at a 5.4% CAGR, reaching a value of $194.39 billion by the end of 2033. A marketing emergence that provides health management and body-soothing facilities is referred to as professional spa services. Body scrubs, massages, beauty services, steam and sauna baths, manicures and pedicures are among the therapeutic treatments available. In line with this, professional spa services that offer personalized premium and super-premium perspectives through numerous wellness programs and therapies are getting prominence as they broaden their client base to include individuals who desire a relaxing environment. The massage segment is predicted to account for a market share of 35%.

 

The US market, which garnered $1.1 billion in 2022, is projected to expand at a CAGR of 5.5% during the forecast period. The day/salon spa is expected to have a 38% market share in 2023 and to dominate the global market among all type segments from 2023 to 2033.

 

The China market is projected to expand at a CAGR of 6.8% during the forecast period. The North American region is predicted to acquire a 24% global market share by 2023.

Tourists are looking for ways to stay healthy and rejuvenated while traveling, which is expected to boost the number of clients for professional spa services.

 

Tourists are increasingly interested in so-called “green” concept-based services, and ship/cruise-based facilities including those provided by OneSpaWorld, in addition to time-saving fast service centers such as XpressSpas at airports and cab-based spa facilities. Desirable couples’ packages are being provided at destination professional spas, which are also cruising overall growth. As a consequence, increased awareness of body and mind wellness, along with the global tourism industry, is predicted to propel market growth.

The global market is recognized by the presence of a large number of international corporations. The majority of these companies rely heavily on alliances, collaborations and mergers and acquisitions.

 

Kempinski Hotels S.A. acquired Resense Spa S.p.A. in March 2021 to provide high-end spa services to their clients.

 

Hilton Hotels & Resorts launched a brand-new hotel called “DoubleTree” in Rajasthan, India, in October 2020, to provide fitness and spa facilities.

 

In February 2023, The Hyatt Hotels Corporation declared that the Hyatt Regency Scottsdale Resort & Spa at Gainey Ranch will be renamed Grand Hyatt Scottsdale Resort & Spa in late 2024, making this the first Grand Hyatt hotel in Arizona. Xenia Hotels and Resorts, the hotel's management group, plans to spend roughly $110 million to entirely modify the property into a Grand Hyatt hotel, constructing a bold, vivid and enhanced guest experience.