Spa Market: Opportunity Analysis and Industry Forecast upto 2026
The changing trends is expected to fuel significant demand for investing in spa therapies for health and wellness consciousness. Hectic schedules is resulting in mental exhaustion along with eating and sleeping disorders globally. Unhealthy lifestyle has led to growing need for stress management, peace of mind and detoxification of the system. Demand for spa therapies is expected to remain high attributed to increasing need for maintaining a physically and mentally healthy lifestyle.
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In addition, prevalence of chronic diseases is further expected to boost demand for spa therapies globally. Surge in demand for detoxification of system, stress management and therapies for chronic disorders is expected to propel growth of the global spa market significantly.
According to Fact.MR, the global spa market is expected to represent a value of over US$ 140,000 Mn by the end of 2026.
Pain Management to Boost Demand for Spa Therapies
Mental exhaustion and stress due to hectic lifestyle has led to increased spending on relaxing and rejuvenating therapies such as spa and aromatherapy. With the increasing disposable, customers prefer spending on luxurious services and relaxing therapies. Increasing demand for rejuvenating and relaxing therapies to detoxify the system will continue to fuel demand for range of spa therapies. Hectic routines can further lead to physical stress leading to increasing demand for pain management. Demand for pain management will continue to contribute towards growth of the global spa market significantly. Leading players in the global market are increasingly capitalizing on such opportunity and offering range spa therapies to gain a competitive edge.
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Anti-Ageing Treatment to Impact Global Market Growth
Growing need for anti-ageing treatments for clogged pores, acne, wrinkles and hyper-pigmentation is further expected to impact growth of the global spa market. Increasing old age population is increasingly spending on non-surgical treatments such as exfoliation and peel to improve their physical and mental health.
Detoxification of the system and anti-stress treatment will continue to rev up demand for spa treatments in the global market. Such factors are expected to contribute towards growth of the global spa market during the forecast period.
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Chronic Diseases to Underscore Lucrative Growth Opportunities
Prevalence of chronic diseases such as asthma will continue to boost demand for range of spa therapies in the global market. Patients of asthma have swollen airways that leads to breathing problems. Shortness of breath, coughing and wheezing are some of the common problems that the asthmatic patients face regularly. According to CDC, 7.6% of the adults who fall in the age bracket of 18 years and above i.e., 18.4 million people in the U.S. have asthma. Increased spending on relaxing therapies such as sauna and spa treatment provides the asthmatic patients a respiratory relief.