NEW YORK, March 19, 2021 /PRNewswire/ -- The spa market is expected to grow by USD 25.48 billion during 2020-2024, according to Technavio. The report offers a detailed analysis of the impact of the COVID-19 pandemic on the spa market in optimistic, probable, and pessimistic forecast scenarios.
Enterprises will go through the Response, Recovery, and Renew phases.
The spa market will witness a negative impact during the forecast period owing to the widespread growth of the COVID-19 pandemic. As per Technavio's pandemic-focused market research, market growth decreased in 2020 as compared to 2019.
With the continuing spread of the novel coronavirus pandemic, organizations across the globe are gradually flattening their recessionary curve by leveraging technology. Many businesses will go through response, recovery, and renewal phases. Building business resilience and enabling agility will aid organizations to move forward in their journey out of the COVID-19 crisis towards the Next Normal.
This post-pandemic business planning research will aid clients to:
- Adjust their strategic planning to move ahead once business stability kicks in.
- Build Resilience by making effective resource and investment choices for individual business units, products, and service lines.
- Conceptualize scenario-based planning to mitigate future crisis situations.
Key Considerations for Market Forecast:
- Impact of lockdowns, supply chain disruptions, demand destruction, and change in customer behavior
- Optimistic, probable, and pessimistic scenarios for all markets as the impact of pandemic unfolds
- Pre- as well as post-COVID-19 market estimates
- Quarterly impact analysis and updates on market estimates
Related Report on Consumer Discretionary Include:
Global Gym and Health Clubs Market - Global gym and health clubs market is segmented by service (membership fees, personal training and instruction services, and total admission fee) and geography (North America, Europe, APAC, South America, and MEA).
Global Wellness Tourism Market - Global wellness tourism market is segmented by Type (Domestic and International), Geography (North America, Europe, APAC, South America, and MEA), and Application (physical, psychological, and spiritual).
Major Three Spa Market Participants:
Aspira Spa operates its business through the Unified segment. The company offers a line of services such as massages, facials, dynamic envelopments for the body, the healing arts, specialty treatments, salon and nail services, and spa classes among others.
Clinique La Prairie
Clinique La Prairie operates its business through segments such as Longevity, Wellbeing, Medica, Beauty, and Spa and accommodation. The company offers a line of therapies and beauty treatments such as signature facial and anti-aging treatments, HydraFacial, sculpting and toning body treatments, and therapeutic Thai massages among others.
Gaia Retreat & Spa
Gaia Retreat & Spa operates its business through the Unified segment. The company offers a line of products such as Gaia Deluxe, Bayron Bay Dream, Inner Serenity, and Dreamtime Travel among others.
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE! Get report snapshot here to get detailed market share analysis of market participants during COVID-19 lockdown:
Spa Market 2020-2024: Segmentation
Spa market is segmented as below:
- Day/Club/Salon Spa
- Hotel/Resort Spa
- Destination Spa
- Medical Spa
- North America
- South America
The spa market is driven by the growing wellness tourism industry. In addition, other factors such as an increase in the availability of flotation therapy spa services are expected to trigger the spa market toward witnessing a CAGR of over 4% during the forecast period.
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- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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