Wellness Tourism Market to Record USD 315.47 Bn Growth | Aspira Spa, Clinique La Prairie, and Gaia Retreat & Spa emerge as dominant players | Technavio
NEW YORK, Jan. 11, 2022 /PRNewswire/ --
Wellness Tourism Market Facts at a Glance-
NEW YORK, Jan. 11, 2022 /PRNewswire/ --
Wellness Tourism Market Facts at a Glance-
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According to the recent market study by Technavio, the Wellness Tourism Market Size is expected to increase by USD 315.47 billion from 2019 to 2024, progressing at a CAGR of 7% during the forecast period. The report provides a detailed analysis of drivers & opportunities, top winning strategies, competitive scenario, future market trends, market size & estimations, and major investment pockets.
North America will register the highest growth rate, occupying 33% of the global market share. The US is the key market for wellness tourism in North America. The market growth in this region will be slower than the growth of the market in APAC, Europe, MEA, and South America.
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Vendor Insights-
The wellness tourism market is fragmented due to the presence of several regional and international players. Vendors in the bread market are competing by adopting various organic and inorganic growth strategies.
Aspira Spa: The company offers a broad range of services and facilities such as spa services and classes, dining, and accommodation among others.
Clinique La Prairie: The company offers spas, full-body checkups, and yoga services for customers.
Gaia Retreat & Spa: The company offers a line of retreat packages such as spa services, accommodation, dining, and fitness programs to achieve total relaxation and/or specific needs such as detox, weight loss, health, fitness, and general well-being among others.
Hand & Stone Franchise Corp.: The company offers facial, massage, yoga, and weight loss activities for customers.
HOT SPRINGS RESORT & SPA: The company offers a wide range of services such as spa services, accommodations, and event facilities among others for recreation and wellbeing.
Find additional highlights on the vendors and their product offerings. Download Free Sample Report
Regional Market Outlook
The wellness tourism market growth in North America will be significant during the forecast period. The growth of the wellness tourism market in North America can be attributed to factors such as the availability of a wide range of spa treatments, anti-aging treatments, and the prevalence of a large fitness-conscious population. In addition, the entry of many new vendors and the presence of a large number of established vendors are contributing to the growth of the regional market.
Download our FREE sample report for more key highlights on the regional market share of most of the above-mentioned countries.
Latest Drivers & Trends Driving the Market-
Factors such as work pressure, societal expectations, and monetary problems are increasing stress levels among people. For instance, every year, about 20 out of 100 individuals in the US experience stress and mood disorders such as depression and bipolar depression. The increasing levels of stress is creating adverse effects on the lifestyle and health which could lead to chronic disorders such as obesity, diabetes, heart diseases, and cancer. Hence, to overcome stress, many people are indulging in relaxing activities and book wellness tours to help rejuvenate themselves. All these factors are driving the growth of the global wellness tourism market.
The increased penetration of the internet has been enabling small online firms to focus on aggregating information on wellness travel and accommodation. By leveraging the data, these small firms are creating online repositories and tracking user preferences and upcoming trends in the market. This is helping them access online information and focus on delivering effective services based on reviews received on particular service or wellness centers. This trend is expected to have a positive impact on the growth of the global wellness tourism market during the forecast period.
Find additional information about various other market Drivers & Trends mentioned in our FREE sample report.
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Health and Wellness Market by Product and Geography - Forecast and Analysis 2021-2025
Wellness Tourism Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2019 |
Forecast period |
2020-2024 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7% |
Market growth 2021-2024 |
USD 315.47 billion |
Market structure |
Fragmented |
YoY growth (%) |
6.43 |
Regional analysis |
North America, Europe, APAC, South America, and MEA |
Performing market contribution |
North America at 33% |
Key consumer countries |
US, Germany, France, China, and Japan |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
Aspira Spa, Clinique La Prairie, Gaia Retreat & Spa, Hand & Stone Franchise Corp., HOT SPRINGS RESORT & SPA, Kempinski Hotels SA, Lanserhof GmbH, Marriott International Inc., ME SPE Franchising LLC, and Rancho La Puerta Inc. |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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SOURCE Technavio
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