Spa Services Industry Profile

Report Page Length: 10-12
Last Quarterly Update: 12/9/2022
SIC Codes: 7991
NAICS Codes: 713940
Chapters Include:
Industry Overview Trends & Challenges Industry Forecast
Quarterly Industry Update Call Prep Questions Website & Media Links
Business Challenges Financial Information Glossary & Acronyms
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Excerpt from Spa Services Industry Profile

Companies in this industry operate spas and wellness centers. Major US companies include destination spa chains Canyon Ranch and Golden Door; massage clinic franchise Massage Envy and Steiner Leisure, which operates spas on cruise ships and at resorts and hotels; and day spa franchise Woodhouse Day Spa. Major companies based outside the US include Absolute Spa (Canada); Keio Takaosan Onsen Gokurakuyu (Japan); and Polska Grupa Uzdrowisk (Poland).

The global spa services market is forecast to reach about $140 billion by 2032 at a compound annual growth rate (CAGR) of 10% over the forecast period of 2022 to 2032, according to Future Market insights (FMI). Surging demand for relaxation, wellness, and meditation activities, combined with the increasing demand of spa services for healing and pain management, especially by elderly, will likely drive market growth. North America, Asia Pacific, and Europe dominate the market and expected to have the highest growth.

The US fitness and recreational sports centers industry, which includes spa services in the US has a revenue of about $33 billion and an estimated 37,000 spa locations across the US.

COMPETITIVE LANDSCAPE

Demand for spa services is driven by personal income, wellness tourism, and demographic trends. The profitability of individual companies depends on efficient resource use and effective marketing. Spa visits and revenue per visit are key industry metrics. Larger companies have some economies of scale in marketing and purchasing. Small companies compete ...

 
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