Spa in the US: Key market research findings
- Rising number of working women in the region drives market growth
- Day and club spa segment accounts for a majority of the market’s revenue
- Key vendors – Elements, Hand and Stone, Massage Envy, Planet Beach, and The Woodhouse Day Spa
Technavio’s market research analysts predict the spa market in the US to grow at a CAGR of around 6% between 2016 and 2020. The market is driven by the increase in the number of working women in the region. Women constitute the majority share of spa customers. The growing disposable income in households, the hectic lifestyles of working women, and the increasing awareness about the availability of a wide range of spa services are some of the factors that will drive growth in the spa market in the US during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the spa market segments based on the type.
“Recently, there has been an increase in the popularity and demand for personalized services. Providers in the market are offering clients the option of identifying specific skincare concerns or parts of the body that they want to focus on in the therapy. Some spas also offer variations of set treatments and mix and match services,” says Brijesh Kumar Choubey, Lead Analyst, Consumer & Retail, Technavio Research.
In 2015, the day and club spa segment dominated the spa market in the US by occupying almost 82% of the overall market share. Saunas, pools, and steam rooms are some of the spa facilities that are gaining popularity among customers. With providers consistently improving spa services such as massages and facials, customers are witnessing improved results with respect to their health, beauty, and relaxation requirements. Vendors in the market are also introducing new offerings such as fusion therapies and the use of unique product ingredients to gain more shares in the competitive market.
The key vendors in the market include Elements, Hand and Stone, Massage Envy, Planet Beach, and The Woodhouse Day Spa. This market is highly fragmented with the presence of both key vendors and private players operating across the US. Intense competition in the market has pushed vendors to come up with innovative products and new wellness therapies to gain better market shares. Moreover, the branding of spas will increase the appeal of spas among consumers by highlighting and promoting their services. The market is also expected to witness the introduction of new spas with unique spa services, which will pose a serious threat to the established players.
A more detailed analysis is available in the Technavio report, Spa Market in the US 2016-2020.
We can customize reports by other regions and specific segments upon request.
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