Wellness tourism market to grow, increase in mental illness to boost market growth
Tuesday, 9th August 2022
Source : Technavio

The latest report expects the market to register an incremental growth of USD 327 billion, at a CAGR of over 7% during the forecast period.

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Competitors have to focus on differentiating their product offerings with unique value propositions to strengthen their foothold in the market.

Market vendors also have to leverage the existing growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Accor SA, Cal A Vie Health Spa, Canyon Ranch, Clinique La Prairie, Four Seasons Hotels Ltd., Gaia Retreat and Spa, Hand and Stone Massage and Facial Spa, HOT SPRINGS RESORT and SPA, Hyatt Hotels Corp., Red Carnation Hotels UK Ltd., Six Senses Hotels Resorts Spas, The Mineral Spa, and Woodhouse Day Spas LLC are among some of the major market participants. Request Free Sample Report.

The increase in mental illness has been instrumental in driving the growth of the market. However, the Perception of wellness tourism as a luxury travel market might hamper the market growth.

Wellness Tourism Market Segmentation

The wellness tourism market share growth by the physical segment will be significant during the forecast period. At present, urbanization and the domination of technology over many physical activities have led to a sedentary lifestyle. It has been noted that the lack of exercise or physical activity, poor nutrition, and other harmful habits are the major causes of chronic diseases. Buy Sample Report.

This report provides an accurate prediction of the contribution of all the segments to the growth of the superfood powders market size.

Wellness Tourism Market Geographic Segmentation

North America will account for 32% of market growth. North America's largest market for wellness travel is the US. The market in this region will expand more slowly than markets in other regions.

Spa services, anti-aging remedies, and the prevalence of a sizable population who is fitness aware will all contribute to the growth of the wellness tourism market in North America over the forecast period. Download Sample Report.

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