Growing demand for spa and wellness services, the increasing number of new spas, and the growth of membership-based business models are all factors affecting the industry. Listed below are trends in this industry.
Increasing Demand for Spa and Wellness Services
With aging populations and hectic lifestyles, Asia-Pacific countries are likely to see steady growth in the industry. Increasing demand for beauty treatments is likely to fuel growth in the region, especially in gulf countries. Algeria, for example, has allocated 70 hot springs for the development of spas. Rapid urbanization is another factor fueling the demand for spa services. While the market is expected to grow by more than 25% annually, it is unlikely to reach the high levels of the previous years.
The wellness industry will eventually absorb the services offered by hotels, forming a vital part of a global wellness lifestyle proposal. In Asia and the US, wellness destinations already exist. The growing awareness of fitness and positive psychology is a key factor driving the industry’s growth. Increasing consumer interest in wellness will continue to increase demand for spa and wellness services, according to McKinsey. Here are the 10 trends for spas globally in the years to come:
The industry is expected to recover from a rough start in 2020, thanks to the COVID-19 pandemic. While travel restrictions and the tourism industry performed well due to the outbreak, spa and wellness services also benefitted from temporary travel restrictions. After the outbreak, however, there was a sudden drop in the industry’s revenue. As the virus returns, the industry is starting to rebound. With tourism and accommodation sectors performing well, health and wellness services will also see growth.
A report on the Global Spa Services market includes comprehensive information on major players in the industry. It identifies the key players and assesses their geographic presence and service offerings. The report also includes a competitive landscape analysis, which highlights the key factors affecting the market. For example, the report examines the role of the big players in the industry and discusses their strategies for growth. For example, the report outlines the growth of the market and forecasts by type and application.
The report focuses on different types of services, including spas and salons. It also offers a detailed analysis of market trends, major players, and the competitive landscape. The report includes country-level market data for 20 countries. It also identifies the trends and factors driving the industry. The report also includes an overview of the manufacturing technology used to provide spa services. The report is divided into several categories and is available in various languages.
An Increasing Number of Spas
An aging population is the target audience for an increasing number of spas and wellness services, which are increasingly offering health and beauty treatments. Spa services, like an Auckland yoga retreat, for this population typically go beyond the usual beauty offerings and can include care from physical therapists, exercise physiologists, chiropractors, and acupuncturists. Baby Boomers tend to use spa services for a variety of ailments, and their disposable income makes them a prime target for marketing efforts.
The increasing popularity of wellness and spa treatments has led to an increase in their popularity in the Asia Pacific, where the region is home to a significant share of the industry. Increasing middle-class populations and higher disposable incomes in this region are driving the growth of the sector. A rising middle-class population in these regions also makes them a prime location for spas and wellness services. And with rapid urbanization, these regions are also expected to experience strong growth in this sector.
The global spa industry is expected to grow at a CAGR of 12.1% from 2021 to 2028, with growth in urban areas and growing awareness of health and wellness. Some key factors driving the growth of the spa industry are a burgeoning population, increasing awareness of health issues, and the growing number of spas around the world. While spas are not for everyone, they do offer a range of benefits. Massage has been proven to be beneficial for improving wellness, relieving pain and stress, and promoting a healthy outcome. It is no wonder that spas are becoming increasingly popular amongst consumers.
While the overall industry may face challenges, the health and wellness spas industry is expected to return to growth in five years, according to IBISWorld. The growth in per capita income in developed countries will benefit spa operators as it fosters a higher rate of spending on luxury goods. Spa operators will continue to target new markets and position themselves as part of a healthy lifestyle. The benefits of an increasing number of spas and wellness services are well worth the risk.
Growth in Membership-based Business Models
The growth of subscription-based business models for spa and wellness services is expected to continue. As more consumers seek stress relief, membership-based business models are the way to meet this need. In addition to delivering the same basic services, memberships provide access to wellness amenities. A membership-based wellness service provides an easy, consistent revenue stream for spas and salons. The business model has many benefits for both spas and salons.
Compared to other industries, the health and wellness sector is well-suited for access-based memberships. Subscriptions provide VIP customers with education, early access to new products, and customized programs. In addition to the virtual content, members also get exclusive access to brick-and-mortar products. Membership-based spas and wellness services will continue to see explosive growth. The opportunity is endless, so take advantage of the growing trend of membership-based business models.
Spas and wellness businesses will be able to offer more services, including virtual reality experiences. As more people turn to wellness and health as a lifestyle, they realize that being healthy is essential. Immunity-boosting treatments and products will be in high demand. Spas can only do so much in a given timeframe, so immunity-boosting treatments and products are essential. Massages and lymphatic drainage are excellent ways to boost immunity, and aromatherapy and infrared saunas also stimulate circulation. Products that support gut health will also be of great interest.
The competition in the spa and wellness industry is intense, so companies must think critically about their strategies. Consider ecosystem models, end-to-end ownership, strategic partnerships, co-manufacturing, and marketplaces. While these strategies are a good start, they’re not a guaranteed answer. But they’re worth a try. Consider partnering with a telemedicine provider and offering coaching and diagnostics through a virtual community. There are many other ways to play in this competitive environment.
Trends in the Industry
Increasingly, upscale spas are adding holistic therapies to their menus. This is in line with the growing emphasis on wellness and healing. Some of these spas are extending their services to the community by offering complimentary transportation. This trend, however, comes with risks. Transportation adds more liability and, therefore, requires more insurance coverage. Listed below are some trends that SPAs should look out for. Read on to discover the most popular trends in spa and wellness services.
Wellness is a core part of health, and consumers are willing to pay more for wellness services. While pampering beauty treatments will remain popular, incorporating more holistic options will prove to be an excellent strategy. Other trends to look out for include sound meditation, music therapy, and aromatherapy. People are also less likely to pay for high-contact services such as massages. Contactless treatments will continue to be popular. While this may not be a change in the overall trend, it’s a trend worth watching.
In addition to holistic services, spas are increasingly providing a range of options to cater to the needs of different consumers. Touchless aromatherapy is one such service. These therapies use scents to guide customers through a series of sequential journeys for relaxation and restoration. In some cases, touchless aromatherapy is combined with other holistic wellness techniques, such as meditation, breathwork, and mindfulness. As society returns to more normalcy, more consumers will seek out wellness experiences that are personalized to meet their needs.
The wellness industry is absorbing hotel services. In the long run, hotels are major assets in the global wellness lifestyle proposal. Already, there are countless wellness destinations in the US and Asia. As the world becomes more conscious of its health, the younger generations are more aware of the benefits of wellness and pro-active medicine. Whether they’re looking for relaxation or rejuvenation, there’s always a way to treat yourself.
Increasing numbers of people are opting for organic skincare and beauty products. This trend has led spas to stock organic ingredients and treatments. Moreover, many people are now consciously choosing to use only organic products. In addition, people are looking for wellness products that can reduce stress and improve sleep. Infrared light therapy, massage, and herbal remedies are becoming popular. In addition, new spa treatments will include CBD oil-based lotions.