Wellness Tourism Market is anticipated to reach US$ 1192.9 Bn. by 2029 from US$ 733 Bn. in 2022 at a CAGR of 7.2% during a forecast period.Wellness Tourism Market Overview
The Wellness tourism is a wide phrase that encompasses a variety of companies that assist individuals in incorporating wellness into their daily life. Customers may use them to bring health into their homes, personal well-being, and workplaces via simple behaviors like eating and exercising. The market is expected to be driven by rising cases of lifestyle-related illnesses such as diabetes, obesity, and high cholesterol levels, which have been related to busy work schedules and sedentary lives, wellness spas, and a lack of physical exercise.To know about the Research Methodology :- Request Free Sample Report
Wellness Tourism Market Dynamics
Spa therapies and soothing treatments are becoming increasingly popular due to the growing need to preserve health through different psychological, spiritual, and physical activities. The growing demand for revitalizing meditation, exercise, reviving traditional treatments, and nutritious cuisine is projected to considerably boost the global market's growth. In addition, a rising number of companies are providing employee perks such as vacation time and reimbursement for various trips taken by employees, which is likely to stimulate customers to spend on wellness tourism. Such variables are likely to have a favorable influence on global market growth. While on vacation, secondary travelers seek out additional wellness packages to stay fit. Wellness programs may include organic cuisine, specific diets, seasonal fruits, natural herbs, spa treatments, and aromatherapy massages within the hotels. As a result, the growing number of hotels with wellness destination quality designations is helping to boost wellness tourism indirectly. However, markets demand is expected to be limited throughout the projection period due to a lack of amenities, such as poor infrastructure and trained and educated personnel in developing countries.COVID-19 Impact on the Global Wellness Tourism Market
The current COVID-19 epidemic has had a significant influence on the entire travel and tourism sector, which has had a negative impact on market growth. The restriction of international and domestic flights, as well as the temporary closure of facilities such as spas and restaurants to combat the spread of this novel virus, has stifled the growth of the market.Wellness Tourism Market Segmentation Analysis
By Travel Type, Domestic service has a market share of xx percent in 2022 and is expected to grow at a healthy CAGR of xx% during the forecast period. Governments employ discretionary pricing techniques to alleviate poverty, generate jobs and economic growth, update infrastructure, and ease pressure from congestion in domestic tourism. The growing expenditure on wellness activities by domestic tourists is fueling the segment's growth. In 2022, domestic tourists spent around 150 percent more than international tourists.
Regional Insights
The North American Market held a 38 percent revenue share in 2022, because of the existence of numerous important players in the region. The growing knowledge of holistic health therapies, as well as their high discretionary incomes, which allow for health-related travel, are driving forces behind the market. The United States and Canada are significant domestic markets for wellness tourism in North America. The Asia Pacific, on the other hand, is expected to be the fastest-growing regional market. Market growth is expected to be aided by technological improvements and growing disposable income levels in developing nations such as China and India. The presence of international hotel and resort firms in this region, as well as the hospitality industry's growing power, are all contributing to the region's wellness tourism market growth. During the forecast period, supportive government policies and initiatives to attract more foreign visitors may continue to drive the market growth of wellness tourism in the Asia Pacific.Wellness Tourism Market Scope: Inquire before buying
Global Wellness Tourism Market Report Coverage Details Base Year: 2022 Forecast Period: 2023-2029 Historical Data: 2018 to 2022 Market Size in 2022: US $ 733 Bn. Forecast Period 2023 to 2029 CAGR: 7.2% Market Size in 2029: US $ 1192.9 Bn. Segments Covered: by Service In-country Transport Lodging Food & Beverage Wellness Activities Shopping Others by Travel Primary Secondary by Travel Type Domestic International Wellness Tourism Market by Region
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC) Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe) North America (United States, Canada and Mexico) Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A) South America (Brazil, Argentina Rest of South America)Key Players are:
1. Four Seasons Hotels Limited 2. KPJ Healthcare Berhad 3. Hyatt Hotels Corporation 4. Marriott International, Inc 5. Hilton Worldwide 6. VLCC Health Care Limited 7. PRAVASSA 8. Canyon Ranch 9. Rancho La Puerta Inc 10. Accor 11. Hyatt Corporation 12. Red Carnation Hotels 13. InterContinental Hotels Group 14. Marriott 15. Miraval Resort & SpaFrequently Asked Questions
1. What is the projected market size & growth rate of Global Wellness Tourism Market? Ans- Wellness Tourism Market was valued at USD 733 Billion in 2022 and is projected to reach USD 1192.9 billion by 2029, growing at a CAGR of 7.2% during the forecast period. 2. What are the key driving factors for the growth of Global Wellness Tourism Market? Ans- The growing demand for revitalizing meditation, exercise, reviving traditional treatments, and nutritious cuisine is projected to considerably boost the global wellness tourism market's growth. 3. Which region accounted for the largest Global Wellness Tourism Market share? Ans- The North American Wellness Tourism Market held a 38 percent revenue share in 2022, because of the existence of numerous important players in the region. 4. What makes Asia Pacific a Lucrative Market for Global Wellness Tourism Market? Ans- The presence of international hotel and resort firms in this region, as well as the hospitality industry's growing power, are all contributing to the region's wellness tourism market growth. 5. What are the top players operating in Global Wellness Tourism Market? Ans- Four Seasons Hotels Limited, Hilton Worldwide, KPJ Healthcare Berhad, VLCC Health Care Limited, Hyatt Hotels Corporation, and Marriott International, Inc.
1.Preface 1.1. Market Definition and Key Research Objectives 1.2. Research Highlights 2. Assumptions and Research Methodology 2.1. Report Assumptions 2.2. Abbreviations 2.3. Research Methodology 2.3.1. Secondary Research 2.3.1.1. Secondary data 2.3.1.2. Secondary Sources 2.3.2. Primary Research 2.3.2.1. Data from Primary Sources 2.3.2.2. Breakdown of Primary Sources 3. Executive Summary: Global Wellness Tourism Market Size, by Market Value (US$ Bn.) 3.1. Global Market Segmentation 3.2. Global Market Segmentation Share Analysis, 2022 3.2.1. Global 3.2.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 3.3. Geographical Snapshot of the Wellness Tourism Market 3.4. Geographical Snapshot of the Wellness Tourism Market, By Manufacturer share 4. Global Wellness Tourism Market Overview, 2022-2029 4.1. Market Dynamics 4.1.1. Drivers 4.1.1.1. Global 4.1.1.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.2. Restraints 4.1.2.1. Global 4.1.2.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.3. Opportunities 4.1.3.1. Global 4.1.3.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.4. Challenges 4.1.4.1. Global 4.1.4.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.5. Industry Trends and Emerging Technologies 4.1.6. Porters Five Forces Analysis 4.1.6.1. Threat of New Entrants 4.1.6.2. Bargaining Power of Buyers/Consumers 4.1.6.3. Bargaining Power of Suppliers 4.1.6.4. Threat of Substitute Products 4.1.6.5. Intensity of Competitive Rivalry 4.1.7. Value Chain Analysis 4.1.8. Technological Roadmap 4.1.9. Regulatory landscape 4.1.10. Impact of the Covid-19 Pandemic on the Global Wellness Tourism Market 5. Supply Side and Demand Side Indicators 6. Global Wellness Tourism Market Analysis and Forecast, 2022-2029 6.1. Global Wellness Tourism Market Size & Y-o-Y Growth Analysis. 7. Global Wellness Tourism Market Analysis and Forecasts, 2022-2029 7.1. Market Size (Value) Estimates & Forecast By Service, 2022-2029 7.1.1. In-country Transport 7.1.2. Lodging 7.1.3. Food & Beverage 7.1.4. Wellness Activities 7.1.5. Shopping 7.1.6. Others 7.2. Market Size (Value) Estimates & Forecast By Travel, 2022-2029 7.2.1. Primary 7.2.2. Secondary 7.3. Market Size (Value) Estimates & Forecast By Travel Type, 2022-2029 7.3.1. Domestic 7.3.2. International 8. Global Wellness Tourism Market Analysis and Forecasts, By Region 8.1. Market Size (Value) Estimates & Forecast By Region, 2022-2029 8.1.1. North America 8.1.2. Europe 8.1.3. Asia-Pacific 8.1.4. Middle East & Africa 8.1.5. South America 9. North America Wellness Tourism Market Analysis and Forecasts, 2022-2029 9.1. Market Size (Value) Estimates & Forecast By Service, 2022-2029 9.1.1. In-country Transport 9.1.2. Lodging 9.1.3. Food & Beverage 9.1.4. Wellness Activities 9.1.5. Shopping 9.1.6. Others 9.2. Market Size (Value) Estimates & Forecast By Travel, 2022-2029 9.2.1. Primary 9.2.2. Secondary 9.3. Market Size (Value) Estimates & Forecast By Travel Type, 2022-2029 9.3.1. Domestic 9.3.2. International 10. North America Wellness Tourism Market Analysis and Forecasts, By Country 10.1. Market Size (Value) Estimates & Forecast By Country, 2022-2029 10.1.1. US 10.1.2. Canada 10.1.3. Mexico 11. U.S. Wellness Tourism Market Analysis and Forecasts, 2022-2029 11.1. Market Size (Value) Estimates & Forecast By Service, 2022-2029 11.2. Market Size (Value) Estimates & Forecast By Travel, 2022-2029 11.3. Market Size (Value) Estimates & Forecast By Travel Type, 2022-2029 12. Canada Wellness Tourism Market Analysis and Forecasts, 2022-2029 12.1. Market Size (Value) Estimates & Forecast By Service, 2022-2029 12.2. Market Size (Value) Estimates & Forecast By Travel, 2022-2029 12.3. Market Size (Value) Estimates & Forecast By Travel Type, 2022-2029 13. Mexico Wellness Tourism Market Analysis and Forecasts, 2022-2029 13.1. Market Size (Value) Estimates & Forecast By Service, 2022-2029 13.2. Market Size (Value) Estimates & Forecast By Travel, 2022-2029 13.3. Market Size (Value) Estimates & Forecast By Travel Type, 2022-2029 14. Europe Wellness Tourism Market Analysis and Forecasts, 2022-2029 14.1. Market Size (Value) Estimates & Forecast By Service, 2022-2029 14.2. Market Size (Value) Estimates & Forecast By Travel, 2022-2029 14.3. Market Size (Value) Estimates & Forecast By Travel Type, 2022-2029 15. Europe Wellness Tourism Market Analysis and Forecasts, By Country 15.1. Market Size (Value) Estimates & Forecast By Country, 2022-2029 15.1.1. U.K 15.1.2. France 15.1.3. Germany 15.1.4. Italy 15.1.5. Spain 15.1.6. Sweden 15.1.7. CIS Countries 15.1.8. Rest of Europe 16. U.K. Wellness Tourism Market Analysis and Forecasts, 2022-2029 16.1. Market Size (Value) Estimates & Forecast By Service, 2022-2029 16.2. Market Size (Value) Estimates & Forecast By Travel, 2022-2029 16.3. Market Size (Value) Estimates & Forecast By Travel Type, 2022-2029 17. France Wellness Tourism Market Analysis and Forecasts, 2022-2029 17.1. Market Size (Value) Estimates & Forecast By Service, 2022-2029 17.2. Market Size (Value) Estimates & Forecast By Travel, 2022-2029 17.3. Market Size (Value) Estimates & Forecast By Travel Type, 2022-2029 18. Germany Wellness Tourism Market Analysis and Forecasts, 2022-2029 18.1. Market Size (Value) Estimates & Forecast By Service, 2022-2029 18.2. Market Size (Value) Estimates & Forecast By Travel, 2022-2029 18.3. Market Size (Value) Estimates & Forecast By Travel Type, 2022-2029 19. Italy Wellness Tourism Market Analysis and Forecasts, 2022-2029 19.1. Market Size (Value) Estimates & Forecast By Service, 2022-2029 19.2. Market Size (Value) Estimates & Forecast By Travel, 2022-2029 19.3. Market Size (Value) Estimates & Forecast By Travel Type, 2022-2029 20. Spain Wellness Tourism Market Analysis and Forecasts, 2022-2029 20.1. Market Size (Value) Estimates & Forecast By Service, 2022-2029 20.2. Market Size (Value) Estimates & Forecast By Travel, 2022-2029 20.3. Market Size (Value) Estimates & Forecast By Travel Type, 2022-2029 21. Sweden Wellness Tourism Market Analysis and Forecasts, 2022-2029 21.1. Market Size (Value) Estimates & Forecast By Service, 2022-2029 21.2. Market Size (Value) Estimates & Forecast By Travel, 2022-2029 21.3. Market Size (Value) Estimates & Forecast By Travel Type, 2022-2029 22. CIS Countries Wellness Tourism Market Analysis and Forecasts, 2022-2029 22.1. Market Size (Value) Estimates & Forecast By Service, 2022-2029 22.2. Market Size (Value) Estimates & Forecast By Travel, 2022-2029 22.3. Market Size (Value) Estimates & Forecast By Travel Type, 2022-2029 23. Rest of Europe Wellness Tourism Market Analysis and Forecasts, 2022-2029 23.1. Market Size (Value) Estimates & Forecast By Service, 2022-2029 23.2. Market Size (Value) Estimates & Forecast By Travel, 2022-2029 23.3. Market Size (Value) Estimates & Forecast By Travel Type, 2022-2029 24. Asia Pacific Wellness Tourism Market Analysis and Forecasts, 2022-2029 24.1. Market Size (Value) Estimates & Forecast By Service, 2022-2029 24.2. Market Size (Value) Estimates & Forecast By Travel, 2022-2029 24.3. Market Size (Value) Estimates & Forecast By Travel Type, 2022-2029 25. Asia Pacific Wellness Tourism Market Analysis and Forecasts, by Country 25.1. Market Size (Value) Estimates & Forecast By Country, 2022-2029 25.1.1. China 25.1.2. India 25.1.3. Japan 25.1.4. South Korea 25.1.5. Australia 25.1.6. ASEAN 25.1.7. Rest of Asia Pacific 26. China Wellness Tourism Market Analysis and Forecasts, 2022-2029 26.1. Market Size (Value) Estimates & Forecast By Service, 2022-2029 26.2. Market Size (Value) Estimates & Forecast By Travel, 2022-2029 26.3. Market Size (Value) Estimates & Forecast By Travel Type, 2022-2029 27. India Wellness Tourism Market Analysis and Forecasts, 2022-2029 27.1. Market Size (Value) Estimates & Forecast By Service, 2022-2029 27.2. Market Size (Value) Estimates & Forecast By Travel, 2022-2029 27.3. Market Size (Value) Estimates & Forecast By Travel Type, 2022-2029 28. Japan Wellness Tourism Market Analysis and Forecasts, 2022-2029 28.1. Market Size (Value) Estimates & Forecast By Service, 2022-2029 28.2. Market Size (Value) Estimates & Forecast By Travel, 2022-2029 28.3. Market Size (Value) Estimates & Forecast By Travel Type, 2022-2029 29. South Korea Wellness Tourism Market Analysis and Forecasts, 2022-2029 29.1. Market Size (Value) Estimates & Forecast By Service, 2022-2029 29.2. Market Size (Value) Estimates & Forecast By Travel, 2022-2029 29.3. Market Size (Value) Estimates & Forecast By Travel Type, 2022-2029 30. Australia Wellness Tourism Market Analysis and Forecasts, 2022-2029 30.1. Market Size (Value) Estimates & Forecast By Service, 2022-2029 30.2. Market Size (Value) Estimates & Forecast By Travel, 2022-2029 30.3. Market Size (Value) Estimates & Forecast By Travel Type, 2022-2029 31. ASEAN Wellness Tourism Market Analysis and Forecasts, 2022-2029 31.1. Market Size (Value) Estimates & Forecast By Service, 2022-2029 31.2. Market Size (Value) Estimates & Forecast By Travel, 2022-2029 31.3. Market Size (Value) Estimates & Forecast By Travel Type, 2022-2029 32. Rest of Asia Pacific Wellness Tourism Market Analysis and Forecasts, 2022-2029 32.1. Market Size (Value) Estimates & Forecast By Service, 2022-2029 32.2. Market Size (Value) Estimates & Forecast By Travel, 2022-2029 32.3. Market Size (Value) Estimates & Forecast By Travel Type, 2022-2029 33. Middle East Africa Wellness Tourism Market Analysis and Forecasts, 2022-2029 33.1. Market Size (Value) Estimates & Forecast By Service, 2022-2029 33.2. Market Size (Value) Estimates & Forecast By Travel, 2022-2029 33.3. Market Size (Value) Estimates & Forecast By Travel Type, 2022-2029 34. Middle East Africa Wellness Tourism Market Analysis and Forecasts, by Country 34.1. Market Size (Value) Estimates & Forecast by Country, 2022-2029 34.1.1. South Africa 34.1.2. GCC Countries 34.1.3. Egypt 34.1.4. Nigeria 34.1.5. Rest of ME&A 35. South Africa Wellness Tourism Market Analysis and Forecasts, 2022-2029 35.1. Market Size (Value) Estimates & Forecast By Service, 2022-2029 35.2. Market Size (Value) Estimates & Forecast By Travel, 2022-2029 35.3. Market Size (Value) Estimates & Forecast By Travel Type, 2022-2029 36. GCC Countries Wellness Tourism Market Analysis and Forecasts, 2022-2029 36.1. Market Size (Value) Estimates & Forecast By Service, 2022-2029 36.2. Market Size (Value) Estimates & Forecast By Travel, 2022-2029 36.3. Market Size (Value) Estimates & Forecast By Travel Type, 2022-2029 37. Egypt Wellness Tourism Market Analysis and Forecasts, 2022-2029 37.1. Market Size (Value) Estimates & Forecast By Service, 2022-2029 37.2. Market Size (Value) Estimates & Forecast By Travel, 2022-2029 37.3. Market Size (Value) Estimates & Forecast By Travel Type, 2022-2029 38. Nigeria Wellness Tourism Market Analysis and Forecasts, 2022-2029 38.1. Market Size (Value) Estimates & Forecast By Service, 2022-2029 38.2. Market Size (Value) Estimates & Forecast By Travel, 2022-2029 38.3. Market Size (Value) Estimates & Forecast By Travel Type, 2022-2029 39. Rest of ME&A Wellness Tourism Market Analysis and Forecasts, 2022-2029 39.1. Market Size (Value) Estimates & Forecast By Service, 2022-2029 39.2. Market Size (Value) Estimates & Forecast By Travel, 2022-2029 39.3. Market Size (Value) Estimates & Forecast By Travel Type, 2022-2029 40. South America Wellness Tourism Market Analysis and Forecasts, 2022-2029 40.1. Market Size (Value) Estimates & Forecast By Service, 2022-2029 40.2. Market Size (Value) Estimates & Forecast By Travel, 2022-2029 40.3. Market Size (Value) Estimates & Forecast By Travel Type, 2022-2029 41. South America Wellness Tourism Market Analysis and Forecasts, by Country 41.1. Market Size (Value) Estimates & Forecast by Country, 2022-2029 41.1.1. Brazil 41.1.2. Argentina 41.1.3. Rest of South America 42. Brazil Wellness Tourism Market Analysis and Forecasts, 2022-2029 42.1. Market Size (Value) Estimates & Forecast By Service, 2022-2029 42.2. Market Size (Value) Estimates & Forecast By Travel, 2022-2029 42.3. Market Size (Value) Estimates & Forecast By Travel Type, 2022-2029 43. Argentina Wellness Tourism Market Analysis and Forecasts, 2022-2029 43.1. Market Size (Value) Estimates & Forecast By Service, 2022-2029 43.2. Market Size (Value) Estimates & Forecast By Travel, 2022-2029 43.3. Market Size (Value) Estimates & Forecast By Travel Type, 2022-2029 44. Rest of South America Wellness Tourism Market Analysis and Forecasts, 2022-2029 44.1. Market Size (Value) Estimates & Forecast By Service, 2022-2029 44.2. Market Size (Value) Estimates & Forecast By Travel, 2022-2029 44.3. Market Size (Value) Estimates & Forecast By Travel Type, 2022-2029 45. Competitive Landscape 45.1. Geographic Footprint of Major Players in the Global Wellness Tourism Market 45.2. Competition Matrix 45.2.1. Competitive Benchmarking of Key Players By Price, Presence, Market Share, Applications and R&D Investment 45.2.2. New Product Launches and Product Enhancements 45.2.3. Market Consolidation 45.2.3.1. M&A by Regions, Investment and Verticals 45.2.3.2. M&A, Forward Integration and Backward Integration 45.2.3.3. Partnership, Joint Ventures and Strategic Alliances/ Sales Agreements 45.3. Company Profile: Key Players 45.3.1. PRAVASSA 45.3.1.1. Company Overview 45.3.1.2. Financial Overview 45.3.1.3. Geographic Footprint 45.3.1.4. Product Portfolio 45.3.1.5. Business Strategy 45.3.1.6. Recent Developments 45.4. Four Seasons Hotels Limited 45.5. KPJ Healthcare Berhad 45.6. Hyatt Hotels Corporation 45.7. Marriott International, Inc 45.8. Hilton Worldwide 45.9. VLCC Health Care Limited 45.10. PRAVASSA 45.11. Canyon Ranch 45.12. Rancho La Puerta Inc 45.13. Accor 45.14. Hyatt Corporation 45.15. Red Carnation Hotels 45.16. InterContinental Hotels Group 45.17. Marriott 45.18. Miraval Resort & Spa 46. Primary Key Insights