The Asia Pacific Spa Market would witness market growth of 11.3% CAGR during the forecast period (2021-2027).
The spa services industry is constantly evolving, such as the usage of hybrid spa technology, which heats the spa using a gas-powered hybrid system. In comparison to traditional heating systems, the technology uses less carbon and other chemicals and is also more cost effective.
Changing lifestyles and interests, as well as rising disposable incomes, has changed the dynamics of the spa industry. Spa services have become a key part of people's life because of the health benefits they provide. The increased popularity of personal pampering and the idea of a spa as a self-improvement investment is developing the spa business globally. Spa services include a variety of health-related and body-relaxing treatments.
China, Japan and India are among the leading nations of the regional spa market. Because of the growing number of working professionals and growing awareness among population, the region is expected to see a significant increase in revenue transactions. Furthermore, the region's large populations, particularly in countries like China and India, as well as the region's growing working population and hectic lifestyles, are compelling people to seek ways to relieve stress through massages and other beauty spa services.
The China market dominated the Asia Pacific Spa Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $12.4 billion by 2027. The Japan market would experience a CAGR of 10.6% during (2021 - 2027). Additionally, The India market is poised to grow a CAGR of 11.9% during (2021 - 2027).
Based on Service Type, the market is segmented into Hotel/Resorts Spa, Day/Salon Spa, Destination Spa, Medical Spa, Mineral Spring Spa, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Spa Market is Projected to reach USD 90 Billion by 2027, at a CAGR of 11.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Planet Beach Franchising Corporation, Four Seasons Hotels Limited (Cascade Investment, L.L.C.), ME SPE Franchising, LLC, Jade Mountain, Mandarin Oriental International Limited (Jardine Matheson Holdings Limited), InterContinental Hotels Group PLC, Clarins Group SA, Lanserhof Group, Belmond Maroma Resort & SPA, and Gaia Retreat & SPA (Tattarang).
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