The Latin America, Middle East and Africa Spa Market would witness market growth of 13.2% CAGR during the forecast period (2021-2027).
There are many different types of spas available in the market. Medical spas are one of them that provide complete medical and/or wellness care in an atmosphere that mixes spa services with traditional, alternative, or cosmetic medical therapies and treatments under the full-time, on-site supervision of a qualified healthcare practitioner.
In addition, day-use spas and destination/health resorts that incorporate an on-site source of natural mineral, thermal, or sea water into their spa treatments, as well as thermal and mineral water bathing or recreational establishments that offer spa services such as massage, facials, hydrotherapy, and so on, are considered thermal/mineral springs spas.
Thermal water-based services have a lot of untapped potential in the Middle East and North Africa. With the exception of a few large and well-developed spots in Israel and Jordan, the majority of the region's hot springs bathing enterprises are modest, traditional, and unknown outside of local markets. Countries like Tunisia, Algeria, Morocco, and Iran have abundant natural thermal resources that have the potential to draw both domestic and international tourism markets, particularly as the geopolitical atmosphere improves.
The Brazil market dominated the LAMEA Spa Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $2.1 billion by 2027. The Argentina market is experiencing a CAGR of 13.8% during (2021 - 2027). Additionally, The UAE market would exhibit a CAGR of 12.9% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Spa Market is Predict to reach $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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