Over the next five years, the spa industry is expected to experience growth, resulting in revenues reaching $21 billion.
Spa operators will benefit from growth in per capita disposable income, fostering increased consumer spending on discretionary and luxury goods and services, including spa treatments and massages.
As a discretionary service, demand for spa services will continue to be strongly tied to trends in disposable income and consumer spending patterns. Per capita disposable income and consumer spending are both expected to grow over the five year period. Growing disposable income and consumer spending is anticipated to drive industry revenue growth by encouraging more consumers to spend on discretionary and luxury spa treatments. In addition, this is expected to drive consumers to spend more per visit, which will also contribute to revenue growth for the industry.
Industry operators will continue to target traditionally untapped markets by tailoring services to men and marketing spa services as an aspect of an overall healthy lifestyle. Women are expected to continue to constitute a majority of the industry’s demographic; however, men have made up a rising percentage of the industry’s client base in recent years.