The spa services market is a highly competitive space, with a mix of small-scale private businesses and larger players such as Marriott and Hyatt. Companies are focused on providing customised packages to customers to enhance their on-premises experience. This is further driven by the growing demand for spa services in the global travel and tourism sector. The medical spa segment is expected to grow at a steady rate due to the changing market trends towards medical spa services, particularly in emerging economies.
This is due to the various anti-aging and skin-related treatments that are available. The booming hospitality industry and the increasing popularity of traditional spas such as Thai massage and Ayurveda in the region will continue to drive the market. The market is characterized by small-scale spa units and other prominent market players. Spas have begun to diversify their services to include health and aesthetics, in order to complement their regular spa services. This includes acupuncture, following the global shift towards a more holistic approach to health and beauty.
The growing prevalence of mental health issues such as depression, anxiety and stress is also driving demand for spa services. Spa vendors in Europe have developed a wide range of services to promote healthy living. Major players in the global spa services market are implementing various growth strategies to gain a competitive advantage in the market. However, the increasing cost of services, along with the high costs associated with staff training, is expected to impede growth in the global spa services market over the forecast period. Hot Springs Resort & Spa, Four Seasons Hotel Limited, Emirates Palace Spa, Lanserhof, Massage Envy are some of the main companies operating in the Spa Market.
Increasing investments by spa service providers to provide customers with modern comforts are also attracting customers to their facilities.
