Spa Services Market to Grow at 16.76% CAGR over 2023 to 2030; VIO Med Spa Received Minority Investment from Tucker’s Farm Corporation to Strengthen Industry Foothold

The global spa services market size stood at USD 77.85 billion in 2022. The market value is slated to rise from USD 87.63 billion in 2023 to USD 259.26 billion by 2030 at a CAGR of 16.76% during 2023-2030. The surge is on account of a change in the traditional consumer mindset and rising popularity of sound therapy, novel cryotherapy, hydrotherapy, and LED therapy. Fortune Business Insights™ presents this information in its report titled “Spa Services Market Size, Share & COVID-19 Impact Analysis, By Facility Type (Day, Hotel/Resort, Medical, and Others), By Service (Massage, Beauty/Grooming, Physical Fitness, and Others), By End-User (Women and Men), and Regional Forecast, 2023-2030”.

Pandemic Period Affected Industry Expansion Driven by Enforcement of Strict Lockdown Measures

During the COVID-19 pandemic, the governments of various countries enforced stringent lockdown norms for combating the spread of the virus. The market expansion was affected considering the formulation of physical distancing regulations. Additional factors which hampered market growth included the shutdown of destination and hotel/resort spas.

VIO Med Spa Secured Minority Investment from Tucker’s Farm Corporation to Build Technology Platforms

In July 2022, U.S.-based provider of medical aesthetic services VIO Med Spa secured a minority PE investment from Tucker’s Farm Corporation. The deal was centered on building operational technology platforms and deploying additional corporate locations in the U.S.

The agreement was also focused on accelerating the VIO Med’s aggressive five-year expansion plan. The capital infusion would help in creating a strategic growth partnership between the two companies. The deal would further help in expanding education and training and investment in human infrastructure.

Escalation in Market Share Impelled by Surging Popularity among Baby Boomers and Teenagers

The spa services market growth is being propelled by the escalating population of spa and beauty services among baby boomers and teenagers. Therefore, facility owners invest in lighting effects, attractive specialty packages, and music facilities for gaining the attention of consumers.

However, the market expansion could be affected by the high costs associated with the treatments, increasing incidences of physical abuse, and other malpractices. These factors may restrain the number of customer visits at such centers.

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Major Players Enter into Collaborative Deals to Strengthen Business Scenario

Leading market participants are centered on adopting a range of strategic steps for strengthening the positions of their businesses. These initiatives include an increase in research activities and the development of new products. Additional factors comprise mergers, acquisitions, and partnership agreements.

Key Players Profiled:

• Hyatt Hotel Corporation (U.S.)


• Four Seasons Hotel Limited (Canada)


• Marriot International, Inc. (U.S.)


• Hilton Hotels & Resorts (U.S.)


• OneSpaWorld Holdings Limited (U.S.)


• Siam Wellness Group (Thailand)


• InterContinental Hotels Group Plc. (U.K.)


• Massage Envy (U.S.)


• Kempinski Hotels S.A. (Switzerland)


• Brenners Park-Hotel & Spa (Germany)

Notable Industry Development:

• February 2021 – Pool Troopers inked a collaboration with Aloha Pool and Spa Service Inc. The partnership agreement was focused on the company’s footprint expansion in the Fort Myers and Naples areas.

Further Report Findings

• Europe is expected to dominate the market share over the estimated period. The growth is driven by increasing disposable income in Europe.


• The Asia Pacific market is estimated to depict notable traction throughout the projected period. The rise can be attributed to the escalating number of sauna, massage, and mineral spring facilities in the region.


• By facility type, this market is categorized into resort/hotel, medical, day, and others. The day segment is expected to register appreciable growth over the study period. The rise is on account of the growing affordability of facilities.


• Based on service, this market is classified into physical fitness, beauty/grooming, massage, and others. The massage segment is poised to record substantial expansion. The surge is propelled by the growing beautification trend and the soaring demand for facials, manicure, pedicure, and other services.

Table of Segmentation