Sauna and Spa Market to grow at a CAGR of 5.85% from 2022 to 2027|Growth in the tourism and hospitality industry to boost the market growth- Technavio

NEW YORK, July 21, 2023 /PRNewswire/ — The sauna and spa market is set to grow by USD 1,318.7 million from 2022 to 2027, progressing at a CAGR of 5.85% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The growth in the tourism and hospitality industry is a key factor driving market growth. This is due to the rise in international travel globally. The sauna and spa amenities are provided by hotels, resorts, and other lodging facilities to attract and retain customers. Another factor is the increasing awareness of one’s health and well-being. There is a rapid increase in the number of spas and sauna destinations in countries such as Thailand, Indonesia, and India which are considered rich in cultural heritage and natural resources. Hence, this rise in tourism is expected to drive market growth during the forecast period. – Here is an Exclusive report talking about Market scenarios with a historical period (2017-2021) and a forecast period (2023-2027). Download Sample Report in minutes!

The report on the sauna and spa market provides a holistic update, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis.

The sauna and spa market covers the following areas:

Sauna and Spa Market 2023-2027 – Market Dynamics

Major Trends

The growth of home saunas and spas is a major trend in the market. This is due to various benefits which are offered by the home saunas and spas, such as convenience to use, saving time and money by removing the need to travel, more privacy, and a customized experience. In addition, they are also available in a range of styles, dimensions, and types, giving customers a variety of options. The rising demand for various home hot tubs and saunas in developed countries is also driving market growth. Furthermore, consumers are giving priority to their health and wellness and are willing to spend money on upscale wellness amenities. Hence, these home saunas and spas trends are expected to drive market growth during the forecast period.

Significant Challenges

The high cost of equipment and maintenance is a challenging factor impeding market growth. A typical sauna room can cost several thousand dollars, whereas a hot tub or jacuzzi can cost tens of thousands of dollars. In addition, regular servicing and upkeep are necessary for maintaining a sauna or hot tub which is highly expensive. The new vendors in the market face challenges to start a new venture due to high initial costs. The potential customer base is constrained and limits the target population for these services to wealthy individuals. Hence, the high cost is expected to restrict market growth during the forecast period.

Sauna and Spa Market 2023-2027: Market Segmentation

The market is segmented by type (entertainment and medical), application (hotel, gym and spas, household, and others), and geography (Europe, North America, APAC, South America, and Middle East and Africa).

• The market share growth by the entertainment segment will be significant during the forecast period. These services are designed for customers who want to get away from their normal routines and do things that will help them recharge. Furthermore, it also offers a range of facilities and services designed to give patrons a comfortable and pleasant experience. Numerous saunas and spas also offer dining options, including cafes, juice bars, and restaurants. Hence, these factors are expected to drive segment growth during the forecast period.

This report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources through an analysis of key parameters- View Sample Report

What’s New? –

• Special coverage on the Russia–Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession

• Global competitiveness and key competitor positions

• Market presence across multiple geographical footprints – Strong/Active/Niche/Trivial – Buy the report!

Companies Mentioned

• Anapos Steamworks Ltd.

• Crystal Leisure Swimming Pools Ltd.

• Dalesauna Ltd.

• Duravit AG

• EDJUSTA UAB

• Effegibi Srl

• Harvia Plc

• Inca UK Ltd.

• JSC Mojodas

• KLAFS GmbH

• Narvi Oy

• Physiotherm Holding GmbH

• Portcril

• QCA Spas Inc.

• Sanspa Industrial Guangzhou Co. Ltd.

• Sauna360 Group Oy

• SAWO Inc.

• Topline Pools and Wellness

• Wellis Magyarorszag Zrt

• Xuzhou Luxwarm Sauna Equipment Co. Ltd.

Vendor Offering

• Crystal Leisure Swimming Pools Ltd. – The company offers saunas and spas such as Astral 1, Astral 2, and Astral 3.

• Duravit AG – The company offers saunas and spas such as Inipi Ama Sauna.

• Harvia Plc – The company offers a sauna and spa under the brand, Almost Heaven Saunas.

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Table of Contents

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Type

7 Market Segmentation by Application

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

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