Market Trends of Sauna and Spa Industry
This section covers the major market trends shaping the Sauna & Spa Market according to our research experts:
The Rising Expenditure Capacities of the Consumers Drive the Market
The increasing disposable income, rising expenditure capacities, and spending pattern of millennials has been remarkably changed in the last few years. The buying behavior and pattern have changed due to urbanization and lifestyle. Their lifestyle focuses on social health, which is backed by rising expenditure due to increased earning. This generation is looking at this sauna and spa industry as a necessity. Thus, millennials are ready to spend on their lifestyle, which is driving the growth of this industry.
The rapid urbanization, sedentary lifestyles, and hectic schedules of working professionals around the globe are major concerns for health. It is mandatory for working professionals to be healthy physically and mentally to maintain and increase productivity.In addition, the rising adoption of sauna and spa services primarily across geriatric groups is also one of the factors bolstering the demand for spa services and thereby adding up to the market growth significantly.
Increasing Tourism Fuels the Sauna and Spa Industry
A spa hotel is a hotel with the primary purpose of providing individual services and treatments for clients, focusing on health. The global tourism industry has experienced growth in the last many years, excluding 2020. International tourist arrivals have risen as global per capita income has increased and consumer sentiment has improved. Leisure tourism is the largest sector of the tourism industry.The leisure tourism and hospitality market bring domestic and international tourists to destinations to spend official or vacation time. These tourists avail the sauna and spa services provided by hotels, luxury hotels, and resorts. In the leisure tourism and hospitality industry, sauna and spa services are available as part of the package or amenities. Thus, the sauna and spa industry is perceived as the packaged part of the hospitality and tourism market. The growth in the leisure tourism and hospitality industry is driving the sauna and spa market.
