The North America Spa Market would witness market growth of 11.0% CAGR during the forecast period (2021-2027).
In the United States and Canada, a growing number of deluxe service facilities and expanding demand for full body massage and aesthetic treatments are driving the regional spa market. According to the American Massage Therapy Association's 'Massage Profession Research Report 2019,' over 47.5 million people in the United States received a total of 214 million massages in 2018, with the spa accounting for about 33% of all massages.
One of the primary drivers of the spa market is significant expansion in the wellness tourism industry. Furthermore, rising public awareness of health issues is propelling the industry forward. There is an increasing preference for therapeutic spas to decrease anxiety and stress as a result of rapid urbanization, sedentary lifestyles, and the hectic schedules of working people.
Other growth-inducing variables include the availability of natural and organic procedures and flotation therapies, as well as the increased use of innovative marketing methods on social media to boost brand positioning. Contemporary spas that offer facial and detoxifying treatments based on organic products, peels, and water-based elements that encourage natural skin healing, as well as increased consumer spending power, would also create more demand for these services.
The US market dominated the North America Spa Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $15.9 billion by 2027. The Canada market would showcase a CAGR of 13.5% during (2021 - 2027). Additionally, The Mexico market is expected to witness a CAGR of 12.5% 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 U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Spa Market is Estimated 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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