Technavio Says Europe is the World’s Largest Market for Spa
LONDON–(BUSINESS WIRE)–#Research—Technavio
analysts forecast the spa
market in Europe to grow at a CAGR of close to 9% during
the forecast period, according to their latest report.
The research study covers the present scenario and growth prospects of
the spa market in Europe for 2016-2020. The report also presents
the vendor landscape and a corresponding detailed analysis of the top
four vendors.
Europe is the largest market for spas worldwide. The spa industries
in most European countries have recovered well from the economic crisis
of the early 2010s and will see strong growth during the forecast
period. In terms of wellness tourism expenditures, the analysts at
Technavio expect the region to gain USD 225 billion; in terms of
wellness trips, the region is expected to gain approximately USD 245
million. Nearly 36,000 spas operate in the region, with Germany being
the largest market. Russia’s spa industry has also grown significantly
in the last five years.
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Technavio consumer
and retail research analysts highlight the
following three factors that are contributing to the growth of the spa
market in Europe:
- Innovative service offerings by spa players
-
Need for personal grooming, relaxation, stress-free life, and healthy
living - Growing wellness industry, tourism, and globalization of spa players
Innovative service offerings by spa players
Unique services offered by spas and the variety of treatments
administered by expert professionals are adding to the popularity of
spas. For instance, the Chodovar in the Czech Republic offers beer spa,
where dark beer is mixed into a mineral bath, which offers various
health benefits. The beer yeast helps in the improvement of the skin and
helps in relaxation of the mind and body.
Poonam Saini, a lead retail
goods and services research analyst at Technavio, says, “The
VIVAMAYR in Austria offers medically approved solutions for people
willing to reduce weight. The medical spa under the supervision of
doctors offers abdominal treatments to help digestion, intravenous
therapy to boost vitamin deficiency, and various other detox services.”
Need for personal grooming, relaxation, stress-free life, and healthy
living
Massage continues to be the major type of service that is generally
opted by a customer during a spa visit. The demand for this service is
generally witnessed in a day spa where a quick massage session enables
in providing relaxation and relief from pain. Facial massage continues
to remain the bestseller among spa services. It helps in releasing the
muscles of the face, head, and neck, relieving tension; rebalances
muscles; and also helps in anti-aging.
“Sauna, pool, steam room, and body wrap are some of the features that
are often used by customers, driving the demand for more exclusive
relaxation and experience other than only massage. For instance, the
chocolate body wrap service helps in detoxing the body while mud bath
helps in curing skin-related diseases such as psoriasis,” adds
Poonam.
Growing wellness industry, tourism, and globalization of spa players
The growing wellness industry in Europe stands to be one of the major
growth drivers of the market. There has been a considerable growth in
the overall wellness industry at large, with spa market reflecting
similar growth. The growth in hospitality industry in the region and
associated influx of tourists to Europe are expected to keep the market
buoyant in the region.
The demographics, lifestyle, and health trends among the European
consumers draw attention to how wellness may be able to improve life and
reduce societal healthcare costs. As a result, wellness tourism is
positioned at a profitable intersection between the rising wellness
industry and the world’s massive tourism economy.
Top vendors:
- Lanserhof
- Ritz Carlton
- Clarins
- Fonteverde
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About Technavio
Technavio
is a leading global technology research and advisory company. The
company develops over 2000 pieces of research every year, covering more
than 500 technologies across 80 countries. Technavio has about 300
analysts globally who specialize in customized consulting and business
research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research
techniques to ascertain the size and vendor landscape in a range of
markets. Analysts obtain information using a combination of bottom-up
and top-down approaches, besides using in-house market modeling tools
and proprietary databases. They corroborate this data with the data
obtained from various market participants and stakeholders across the
value chain, including vendors, service providers, distributors,
re-sellers, and end-users.
If you are interested in more information, please contact our media team
at media@technavio.com.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
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+1 630 333 9501
UK: +44 208 123 1770
www.technavio.com
