Increased Consumers’ Awareness of Good Health and Advancements in Technology Drive the Growth of Spa Services
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Increased Consumers’ Awareness of Good Health and Advancements in Technology Drive the Growth of Spa Services
For years, spas have been seen as something that only the rich and privileged could afford. However, now they are becoming increasingly popular, affordable, and profitable with more people realizing the value of good health and longevity, and maintaining a balanced lifestyle. Moreover, the recent pandemic, which caused much stress and illness to people all across the globe, opened their eyes to the importance of taking care of their bodies and minds, which further, increased the demand for spa treatments. Spas offer a variety of services including but not limited to body and head massage, facials, healing therapies, laser treatment for weight reduction, detoxification, and manicures/pedicures. The benefits that spa treatments offer include stress reduction, better sleep, reduced blood pressure, radiant and glowing skin, and reduced body pain, among others. They are now found almost everywhere – in malls, resorts, hotels, fitness centers, beauty salons, and so on.
Awareness of Good Health and Advancements
Today’s hectic lifestyle of consumers in urban areas, new advancements in spa services and treatments, and their increased demand from teenagers are the top factors propelling the growth of the spa services industry. Moreover, a rise in the geriatric population and the growing demand for spa services from emerging markets are likely to offer lucrative opportunities for the growth of the market. A recent report by the research firm Allied Market Research states that the global spa services market is likely to gather a sum of 4, 23,253.69 million by 2031, thereby growing at a CAGR of 17.3% during the forecast period, 2022 to 2031.
Spa Trends
The spa industry is growing as it seeks to continuously develop novel and effective services and therapies. While some spas focus on traditional services and methods that involve human touch, some other spas focus on integrating traditional treatments with newer technologies that offer instant and youth-generating results.
CBD (cannabidiol) infused spa treatments are gaining popularity in recent years, owing to their potential of curing joint and muscle aches, relieving inflammation, alleviating stress and anxiety, and enhancing skin health, among others. Halotherapy or salt therapy is another common trend that has been used in spa facilities for many years. It involves breathing salty air and is known to reduce symptoms of various respiratory diseases and skin conditions. Many spa facilities provide crystal and gemstone healing services to promote wholesome health. Crystals and gems stimulate the seven chakras or energy points in the body and enhance physical well-being. Aqua therapy is also a recent spa trend that involves treatments and exercises in a tub filled with water with aromatherapy oils for promoting relaxation. Cryotherapy is also a popular treatment used in spas which involves subjecting the body to extremely low temperatures to treat many skin conditions and reduce symptoms of depression and body pains.
Medical spa services have gained immense popularity because of the cutting-edge technology used for treatments. The high tech tools helps save time and cost and automation of tasks can save much of staff jobs and allow them to focus more on important tasks. Moreover, guests are attracted to new and cutting-edge treatments, which drives the spa technology treatments. Minimally invasive cosmetic treatments such as botox, mole removal, coolsculpting, acutane, laser hair removal, and more have also been witnessing high demand in spas lately as consumers want a relaxing experience instead of the stress of undergoing cosmetic surgery. Besides offering great results, these types of treatments also consume less time, effort, and money. Another very popular trend is hydrafacial with LED light therapy which involves injecting serums into the skin to treat various skin problems such as blackheads, acne, hyper pigmentation, and damaged skin, and cleanses and rejuvenates the skin.
Recent Developments in the SPA Industry
Players in the spa services industry focus on adopting strategies such as expansions, new product launches, acquisitions, divestiture, and more to gain a competitive edge in the global market and unlock revenue opportunities. In February 2022, DoubleTree by Hilton Goa Panaji introduced the ELLE Spa & Salon. Offering a range of spa treatments to travelers and inhabitants of Goa. Surrounded by lush greenery and the Mandovi River, the spa facility offers an aura that drives away all stress and tension, leaving one with an invigorating and refreshing experience. Featuring six therapeutic rooms, the spa facility provides services such as body massages, focused facials and scrubs, and hydrating body wraps, among others.
In June 2022, Levine Leichtman Capital Partners (LLCP), an established middle market private equity firm sold its Hand & Stone Massage and Facial Spa business to Harvest Partners, another private equity firm based in the U.S. Hand & Stone is a chain of franchised massage spas in the U.S. and offers services such as Swedish massage, hot stone massage, foot massage, facials, and other health & wellness services.
Novotel Visakhapatnam Varun Beach unveiled its Calm – Salon and Spa in July 2022. Overlooking the Bay of Bengal, the facility offers a range of services such as vinotherapy, aromatherapy, Balinese, Thai massage, spa packages including massages, body scrubs, facials, and more. The facility features five treatment chambers, including four single rooms and one couple room.
Built for spa and salon businesses
In September 2022, Arch Amenities Group, a leading provider of amenities management and consulting services for commercial and residential properties, hotels, spas, private clubs, and recreation spaces acquired three spa businesses namely Innovative Spa Management, Privai, and Spa Space. Innovative Spa Management offers spa consulting and management for the hospitality industry. Privai is a manufacturer of ‘spa in a bottle’ botanical skin-care products and offers personalized services and rejuvenating treatments with world class products. It is opening spas and salons that provide customized services, including massages, facials, and skincare, among others. Atlanta-based Spa Space is a software as a service (SaaS) platform that is built for spa and salon businesses. It connects guests to its network of expert therapists and spa facilities based on the specific needs and preferences of guests. The platform also enables guests and members to make real-time reservations and automated payments and scheduling.
