Global Wellness Institute (GWI) has released its 15-year research about the global spa industry, giving an overview of the sector’s performance between 2007 and 2022. It has created a time-series dataset showcasing the growth in the last 15 years. This report is a part of the GWI’s new series of market snapshots that include 11 wellness sectors tracked in the annual Global Wellness Economy Monitor report.
The spa industry has experienced a steady upward trajectory in recent years, fueled by rising disposable incomes, increased urbanization, and a greater awareness of the benefits of holistic health practices. The COVID-19 pandemic, while presenting challenges, also accelerated the trend towards wellness and self-care, driving demand for spa services. As per the time-series dataset, the global spa market will increase from US$104.5 billion to US$156.1 billion by 2027. Before the pandemic, between 2007 and 2019, the sector was witnessing robust growth with a 7.7% annual increase, surpassing the global GDP in the same period. By 2019, the number of spas worldwide increased more than two times, reaching an all-time high of 169,369 by 2019. However, in 2020, the sector saw a lot of fluctuations with global revenues falling by 39% and the number of spas falling by 5,600.
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Between 2021-2022, the spa industry slowly revived and the revenues increased gradually and surpassed the pre-pandemic levels in Switzerland, Australia, US, Canada, and the UAE. Though 131 countries had to still recover completely. The number of spas also increased and touched 181,175 spas in 217 countries by 2022.
In the future, GWI expects an annual growth of 8.3% between 2022-2027 with complete recovery from the pandemic expected by 2023.
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GWI will submit new data about spa segment’s performance in 2023 in the Global Wellness Summit to be held in November 2024 after publishing 2024 edition of the Global Wellness Economy Monitor. Overall, the global spa market is poised for continued expansion, driven by a growing demand for wellness and self-care. As consumers seek holistic approaches to health and well-being, spas are well-positioned to meet their needs and capitalize on the growing market opportunity.
