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          1. Spa Services Industry Profile

            Report Page Length: 10-12
            Last Quarterly Update: 8/31/2020
            SIC Codes: 7991
            NAICS Codes: 713940
            Chapters Include:
            Industry Overview Trends & Challenges Industry Forecast
            Quarterly Industry Update Call Prep Questions Website & Media Links
            Business Challenges Financial Information Glossary & Acronyms
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            Excerpt from Spa Services Industry Profile

            Companies in this industry operate spas and wellness centers. Major US companies include destination spa chains Canyon Ranch and Golden Door, massage clinic franchise Massage Envy, day spa franchise Woodhouse Spas, and Steiner Leisure, which operates spas on cruise ships and at resorts and hotels. Major companies based outside the US include Absolute Spa (Canada), Gokurakuyu (Japan), and Grupa Uzdrowisk (Poland).

            Worldwide, the industry includes about 150,000 spas that generated about $95 billion in revenue in 2017, according to the Global Wellness Institute. Among countries, the US is the largest spa market in the world based on revenue, followed by China, Germany and Japan. Rising average incomes in many emerging markets, combined with increasing awareness of health issues, are expected to drive growth.

            The spa services industry in the US includes about 21,000 facilities with combined annual revenue of about $18 billion, according to the International SPA Association.

            COMPETITIVE LANDSCAPE

            Demand for spa services is driven by personal income, wellness tourism, and demographic trends. The profitability of individual companies depends on efficient resource use and effective marketing. Spa visits and revenue per visit are key industry metrics. Larger companies have some economies of scale in marketing and purchasing. Small companies compete by offering unique services, catering to a local market, and delivering a superior customer experience. The US fitness and recreational sports centers industry, which includes spa services, is fragmented: the top ...

             
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