Wellness Tourism Global Market Report 2023: Featuring Hilton, Marriott, Four Seasons, Accor & Hyatt Hotels

DUBLIN, March 22, 2023 /PRNewswire/ -- The "Wellness Tourism Global Market Opportunities and Strategies to 2032" report has been added to  ResearchAndMarkets.com's offering.

The wellness tourism market reached a value of nearly $731.36 billion in 2022, having grown at a compound annual growth rate (CAGR) of 3.6% since 2017. The market is expected to grow from $731.36 billion in 2022 to $1,178.93 billion in 2027 at a rate of 10.0%. The market is then expected to grow at a CAGR of 9.7% from 2027 and reach $1,876.43 billion in 2032.

Growth in the historic period resulted from increasing tourist spending on cultural and sports tourism, strong economic growth in emerging markets, rising disposable income, aging population and early retirement and rapid urbanization.

Going forward, increasing internet penetration and social media users, government initiatives, increasing focus on health and beauty, shift in travel trends, and rise in e-literacy. Factors that could hinder the growth of the wellness tourism market in the future include shortage of skilled workforce and stringent regulations.

The wellness tourism market is segmented by service type into transport, lodging, food and beverage, shopping, activities and excursions and other services. The lodging market was the largest segment of the wellness tourism market segmented by service type for 21.2% of the total in 2022. Going forward, the lodging market is expected to be the fastest growing segment in the wellness tourism market segmented by service type, at a CAGR of 11.1% during 2022-2027.

The wellness tourism market is segmented by d travelers type into primary and secondary. The secondary market was the largest segment of the wellness tourism market segmented by travelers type for 87.8% of the total in 2022. Going forward, the secondary market is expected to be the fastest growing segment in the wellness tourism market segmented by secondary, at a CAGR of 10.1% during 2022-2027.

The wellness tourism market is segmented by location into domestic and international. The domestic market was the largest segment of the wellness tourism market segmented by location for 76.3% of the total in 2022. Going forward, the domestic market is expected to be the fastest growing segment in the wellness tourism market segmented by location, at a CAGR of 10.0% during 2022-2027.

North America was the largest region in the wellness tourism market, accounting for 38.4% of the total in 2022. It was followed by Western Europe, and then the other regions. Going forward, the fastest-growing regions in the wellness tourism market will be Middle East, and, Africa where growth will be at CAGRs of 13.5% and 11.9% respectively. These will be followed by South America, and, Asia Pacific where the markets are expected to grow at CAGRs of 11.8% and 11.3% respectively.

The global wellness tourism market is fragmented, with a large number of players. The top ten competitors in the market made up to 1.43% of the total market in 2021. This can be due to the existence of number of local players in the market serving customers in particular geographies. Hilton Worldwide was the largest competitor with 0.24% share of the market, followed by Marriott International Inc. with 0.24%, Four Seasons Hotels Ltd. with 0.19%, Accor S.A with 0.14%, Hyatt Hotels Corporation with 0.13%, Intercontinental Hotels Group with 0.13%, Radisson Hotel Group with 0.11%, Rosewood Hotels & Resorts with 0.10%, Omni Hotels & Resorts with 0.08% and Canyon Ranch with 0.08%.

The top opportunities in the wellness tourism market segmented by service type will arise in the lodging segment, which will gain $5106.93 billion of global annual sales by 2027. The top opportunities in segment by travelers type will arise in the secondary segment, which will gain $396.12 billion of global annual sales by 2027. The top opportunities in segment by location will arise in the domestic segment, which will gain $342.18 billion of global annual sales by 2027. The wellness tourism market size will gain the most in the USA at $141.17 billion.

Market-trend-based strategies for the wellness tourism market include soft wellness travel, digital detox, focus on re-wilding, use of artificial intelligence, new products and services launch and strategic partnerships.

Player-adopted strategies in the wellness tourism market service expansion, business expansion, enhancing customer service and increasing production capacity.

Reasons to Purchase

• Gain a truly global perspective with the most comprehensive report available on this market covering 12 geographies.
• Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates.
• Create regional and country strategies on the basis of local data and analysis.
• Identify growth segments for investment.
• Outperform competitors using forecast data and the drivers and trends shaping the market.
• Understand customers based on the latest market research findings.
• Benchmark performance against key competitors.
• Utilize the relationships between key data sets for superior strategizing.
• Suitable for supporting your internal and external presentations with reliable high-quality data and analysis

The report covers the following chapters
Introduction and Market Characteristics

• Brief introduction to the segmentations covered in the market, definitions and explanations about the wellness tourism market.

Key Trends

• Highlights the major trends shaping the global wellness tourism market. This section also highlights likely future developments in the market.

Global Market Size and Growth

• Global historic (2017-2022) and forecast (2022-2027), and (2027-2032) market values, and drivers and restraints that support and control the growth of the market in the historic and forecast periods.

Regional Analysis

• Historic (2017-2022) and forecast (2022-2027), and (2027-2032) market values and growth and market share comparison by region.

Market Segmentation

• Contains the market values (2017-2032) and analysis for each segment by service type, by travelers' type and by location in the market.

Regional Market Size and Growth

• Regional market size (2022), historic (2017-2022) and forecast (2022-2027), and (2027-2032) market values, and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.

Competitive Landscape

• Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.

Key Mergers and Acquisitions

• Information on recent mergers and acquisitions in the market covered in the report. This section gives key financial details of mergers and acquisitions, which have shaped the market in recent years.

Market Opportunities And Strategies

• This section includes market opportunities and strategies based on findings of the research. This section also gives information on growth opportunities across countries, segments and strategies to be followed in those markets. It gives an understanding of where there is significant business to be gained by competitors in the next five years.

Conclusions And Recommendations

• This section includes conclusions and recommendations based on findings of the research. This section also gives recommendations for wellness tourism providers in terms of product/service offerings, geographic expansion, marketing strategies and target groups.

Appendix

• This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.

Scope
Markets Covered:

1) By Service Type: Transport; Lodging; Food And Beverage; Shopping; Activities and Excursions; Other Services.
2) By Travellers: Primary; Secondary
3) By Location: Domestic; International

A selection of companies mentioned in this report includes

• Hilton Worldwide
• Marriott International Inc
• Four Seasons Hotels Ltd
• Accor S.A
• Hyatt Hotels Corporation

For more information about this report visit https://www.researchandmarkets.com/r/kryycl

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