About the Spa Market in the US
Owing to today’s hectic lifestyles, the need for de-stressing is gaining utmost importance. This factor, coupled with the growing demand for exclusive beauty services and treatments, is driving the spa market in the US. To address the growing demand for spa services across the country and to increase their profit margins, vendors are focusing more on expanding their services across different states in the US. The popularity of spa services is evident from the fact that there are more than 22,000 spas in the US alone, and this number is increasing rapidly.
Technavio’s analysts forecast the spa market in the US to grow at a CAGR of 5.6% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the spa market in the US for 2016-2020. To calculate the market size, Technavio considers the revenue generated from the spa services offered by day and club spas, hotel and resort spas, medical spas, destination spas, and mineral and thermal spring spas.
Technavio's report, Spa Market in the US 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Technavio Announces the Publication of its Research Report – Spa Market in the US 2016-2020
Technavio recognizes the following companies as the key players in the spa market in the US: Elements, Hand and Stone, Massage Envy, Planet Beach, and The Woodhouse Day Spa.
Other Prominent Vendors in the market are: Allyu Spa, Aspira Spa, Cal-a-Vie Health Spa, Canyon Ranch, Elizabeth Arden Red Door Spa, Great Jones Spa, Lime Spa, Mandara Spa, Mii amo, Movara Fitness Resort, Spa Solage, SenSpa, Spa Montage, Spa at Eden Roc, The Spa at Travaasa Austin, Ten Thousand Waves, The Spa at Terranea, The Dragrontree, and Wellhouse.
Commenting on the report, an analyst from Technavio’s team said: “A trend which is boosting the market is personalization of products and services. The spa industry is focusing on providing personalized therapies for further enhancing treatment results. Clients have the option to identify 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, as per client request. Spas also allow clients to mix and match services.”
According to the report, a key growth driver is the boom in the wellness industry. The rapid boom in the wellness industry is one of the major growth drivers of the market. The global wellness economy was valued at $3.5 trillion in 2013. Lifestyles and health trends are drawing attention to how wellness may be able to improve life, enhance businesses’ bottom lines, and reduce healthcare costs. As a result, wellness tourism is positioned at a profitable intersection between the rising wellness industry and the world’s massive tourism economy.
Further, the report states that one challenge that could restrict market growth is the lack of skilled labor.
Elements, Hand and Stone, Massage Envy, Planet Beach, The Woodhouse Day Spa, Allyu Spa, Aspira Spa, Cal-a-Vie Health Spa, Canyon Ranch, Elizabeth Arden Red Door Spa, Great Jones Spa, Lime Spa, Mandara Spa, Mii amo, Movara Fitness Resort, Spa Solage, SenSpa, Spa Montage, Spa at Eden Roc, The Spa at Travaasa Austin, Ten Thousand Waves, The Spa at Terranea, The Dragrontree, Wellhouse.
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