Health & Wellness Spas in the US - Market Research Report (2014-2029)
New York, United States
Last Updated: September 2024
NAICS OD4186Revenue
$20.9bn
Past 5-Year Growth
Profit
$X.Xbn
Employees
373k
Businesses
19,998
Wages
$XX.Xbn
Health & Wellness Spas in the US industry analysis
The Health and Wellness Spas industry has endured slight decline over the five years to 2023. The industry includes a variety of health and wellness facilities like day spas, spa resorts, hotel spas, and medical spas. Most spa services, like massages and other bodywork services, are discretionary. As a result, industry performance is tied to fluctuations in consumer disposable income and confidence. The massive decline experienced in 2020 amid COVID-19 has outweighed favorable economic conditions the industry experienced over most of the period. Industry revenue is anticipated to fall at a CAGR of 0.4% to $21.5 billion over the five years to 2023, despite a rise of 2.8% in 2023 alone.
Trends and Insights
- The aging workforce and insufficient new entrants have created a significant shortage of skilled therapists. To cope, spas are turning to touchless therapies like floatation chambers and saunas.
- Massage and bodywork treatments dominate the spa industry. They're the lifeblood of resort and hotel spas, driving over half their revenue. Older adults, prone to chronic conditions, are avid patrons who benefit immensely from these therapies.
- Highly populated urban areas are ideal for spas. The Southeast's growing population and disposable income fuel its health and wellness market. More folks have the means to splurge on premium spa services, making this region a hotspot for wellness businesses.
- Health and wellness spas face a lot of competition, so differentiation is key to success. Offering superior quality, creative services and exceptional customer care can make all the difference.
Industry Overview
Market size and recent performance (2014-2029)
Industry revenue has declined at a CAGR of 1.8 % over the past five years, to reach an estimated $20.9bn in 2024.
Trends and Insights
Labor issues plague the Health and Wellness Spas industry
- Health and wellness spas grapple with a shortage of massage therapists and aestheticians. The 2023 ISPA U.S. Spa Industry Study estimates there are 35,870 job vacancies across the spa industry, including 21,270 for massage therapist positions.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Technology will continue to play an important rolde
- More spas will offer touchless therapies as the labor issues that plague the industry will persist. Spas will shift more of their businesses online, like retail sales and client consults, as consumers have grown increasingly comfortable conducting additional services via the internet.
Biggest companies in the Health & Wellness Spas in the US
| Company | Market Share (%)
2024 | Revenue ($short_0)
2024 | Profit ($short_0)
2024 | Profit Margin (%)
2024 |
|---|
There are no companies that hold a large enough market share in the Health & Wellness Spas in the US industry for IBISWorld to include in this product.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Massage and bodywork treatments, Skincare treatments and Salon services. Massage and bodywork treatments is the largest segment of the Health & Wellness Spas in the US.
Trends and Insights
Massage and bodywork treatments are the core offering of the health and wellness spa industry
- Massage and bodywork encompass many treatments, including deep-tissue massage, acupuncture, and trigger-point therapy.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- Gym, Health & Fitness Clubs in the US
- Hotels & Motels in the US
- Hair & Nail Salons in the US
- Tanning Salons in the US
Complementors
- There are no industries to display.
International industries
- Gym, Health & Fitness Clubs in Canada
- Gyms and Fitness Centres in Australia
- Gyms and Fitness Centres in New Zealand
- Gyms & Fitness Centres in the UK
- Personal Trainers in the UK
Table of Contents
About this industry
Industry definition
Health and wellness spas offer guests various spa services, including massages, facials and body treatments. Businesses included are day spas, spa resorts, hotel spas and medical spas.
What's included in this industry?
Massage and bodywork treatmentsSkincare treatmentsSalon servicesRetail salesCompanies
Purchase this report to view all major companies in this industry.
Related Terms
BODYWORKEXFOLIATIONFACIAL MASKIndustry Code
NAICS 81219 - Health & Wellness Spas in the US
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
The aging workforce and insufficient new entrants have created a significant shortage of skilled therapists. To cope, spas are turning to touchless therapies like floatation ...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Massage and bodywork treatments dominate the spa industry. They're the lifeblood of resort and hotel spas, driving over half their revenue. Older adults, prone to chronic con...
In this chapter
- Products & Services
- Major Markets
Key metrics
- Largest market segment and value in 2024
- Product innovation level
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
Highly populated urban areas are ideal for spas. The Southeast's growing population and disposable income fuel its health and wellness market. More folks have the means to sp...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each state
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each state in 2024
- Number and share of revenue each state accounts for in 2024
- Number and share of wages each state accounts for in 2024
- Number and share of employees in each state in 2024
Detailed analysis
- Geographic spread of the industry across North America, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Health and wellness spas face a lot of competition, so differentiation is key to success. Offering superior quality, creative services and exceptional customer care can make ...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
No single spa garners 5.0% or more of the market because of geographic barriers and the relatively low barriers to entry.
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
Detailed analysis
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Health and wellness spas have numerous supportive associations, with educational and charitable outreach available. Industry associations support spas by contributing to rese...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Locating in prime areas is costly, which forces spas to raise prices, constraining profit. Bundling services can attract a loyal customer base which, long-term, will benefit ...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Industry Multiples (2017-2022)
- Industry Tax Structure (2017-2022)
- Income Statement (2017-2022)
- Balance Sheet (2017-2022)
- Liquidity Ratios (2017-2022)
- Coverage Ratios (2017-2022)
- Leverage Ratios (2017-2022)
- Operating Ratios (2017-2022)
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in the US include:
- US Census Bureau
- US Bureau of Labor Statistics
- US International Trade Commission
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Health & Wellness Spas in the US industry in United States in 2024?
The market size of the Health & Wellness Spas in the US industry in United States is $20.9bn in 2024.
How many businesses are there in the Health & Wellness Spas in the US industry in 2024?
There are 19,998 businesses in the Health & Wellness Spas in the US industry in United States, which has declined at a CAGR of 0.5 % between 2019 and 2024.
Has the Health & Wellness Spas in the US industry in United States grown or declined over the past 5 years?
The market size of the Health & Wellness Spas in the US industry in United States has been declining at a CAGR of 1.8 % between 2019 and 2024.
What is the forecast growth of the Health & Wellness Spas in the US industry in United States over the next 5 years?
Over the next five years, the Health & Wellness Spas in the US industry in United States is expected to grow.
What does the Health & Wellness Spas in the US in United States include?
Massage and bodywork treatments and Skincare treatments are part of the Health & Wellness Spas in the US industry.
How competitive is the Health & Wellness Spas in the US industry in United States?
The level of competition is high and steady in the Health & Wellness Spas in the US industry in United States.
