According to the latest market research study released by Technavio, the spa market in Europe is expected to grow at a CAGR of close to 9% during the forecast period 2016-2020.
This market research report by Technavio provides an in-depth analysis of the market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
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Technavio research analysts categorize the spa market in Europe market based on spa types:
Spa Market in Europe shares by spa types 2015
|
Day/club/salon spas |
41.60% |
|
Destination spas and health resorts |
24.70% |
|
Hotel/resort spas |
23.40% |
|
Other spas (thermal/mineral spa) |
5.70% |
|
Medical spas |
4.60% |
Source: Technavio
The top three revenue contributing spa types segments are discussed below:
Day/club/salon spa market in Europe
In 2015, the day/club/salon spa segment occupied the largest share of around 42% in the spa market in Europe, and is expected to grow at a CAGR of around 8% during the forecast period. The major growth driver in the market is the improvement in health and beauty through services such as massages and facials. Some of the popular services in a day spa include massages, facials, and body treatments such as a mud wrap. Sauna, pool, and steam room are of some of the other features that are often used by customers, driving further demand for spas.
“A day spa offers the best choice to relax, unwind, and enjoy the treatments without having to travel. They offer services that can be customized and personalized as per one’s needs at affordable and pocket friendly rates. Vendors are introducing new offerings such as fusion therapies and usage of exotic product ingredients to attract footfalls. Spas like Thermae Bath Spa offers tailor-made facials and body massages for pregnant women,” says Arushi Thakur, a lead analyst at Technavio for research on general retail goods and services.
Destination spa market in Europe
Destination spas offer all-inclusive programs such as educational classes, healthy cuisines, physical fitness activities, fitness classes, wellness education, and others. A destination spa service will help maintain fitness and provide relaxation away from home. With improved economic scenario, the future looks positive for destination spa where personalized and immersive wellness programming is the major goal. Primary wellness tourists are the major customers of destination spas and the increase in their number will drive the growth of destination spa segment. Most of the European consumers are inclined toward leading a healthy life and destination spas will play a major role in achieving this goal.
Hotel/resort spa market in Europe
Favorable economic conditions, growth in tourism, and boom in hotel industry will help the growth of spas in Europe. Rise in the number of tourists with an inclination to maintain healthy lifestyles will help the market. Hotel spas contribute significantly to the profitability of hotels which has driven many hoteliers and resort owners to add a luxury spa to their property. A hotel spa or a resort spa is an important tool that helps in the creation of the overall perceived value of in-house guest experience. Spas are positioning hotels as a healthy place, supporting the desire of the customers to maintain a healthy lifestyle.
The top leading vendors operating in the spa market in Europe are:
- Lanserhof
- Ritz Carlton
- Clarins
- Fonteverde
Other prominent vendors in the market include VILA VITA VITAL SPA, Clinique La Prairie, Lefay Resort & Spa Lago di Garda, Chelsea Day Spa, Nirvana Spa, Four Seasons Spa, The Bulgari Spa, Thermae Bath Spa, and Terme di Saturnia.
A more detailed analysis is available in the Technavio report titled, ‘Spa Market in Europe 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Spa Market in the US 2016-2020
- Global Spa Market 2016-2020
- Global Massage Oil Market 2016-2020
- Global Essential Oil Market 2016-2020
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