Report foresees Global Wellness Tourism Market to Surpass USD 1070.1 BN mark by 2025
Posted On February 06, 2019
According to the updated report by Value Market Research, the Global Wellness Tourism Market was valued USD 645 BN (by revenue) in 2018 and is anticipated to reach USD 1070.1 BN by 2025. The report anticipates a CAGR of 7.5% from 2019 to 2025. Emerging middle-class people, increasing per capita income along with the rising consumer interest towards travel, healthy lifestyle, and new experiences are the major factors shaping the market dynamics under the study period. Rising cases of mental disorder such as stress, anxiety, and frustration are again fuelling the market demand over the forecast timeline. On the other hand, high cost associated with the service and shortage of facility is expected to limit the market growth. Also, the rising burden of chronic diseases is a prominent factor which is mainly promoting the growth of the global wellness tourism market.
Wellness tourism aims to promote the health and personal well-being through various physical, psychological, and spiritual activities. Basically, it includes the facility associated with travelling to different places such as wellness SPAs, fitness centers, and wellness resorts to enrich the mental as well as physical health.
The report "Global Wellness Tourism Market Report By Service Type (Transport, Lodging, Food & Beverage, Shopping, And Others), Location (Domestic And International) And By Regions - Industry Trends, Size, Share, Growth, Estimation, and Forecast, 2018-2025" studies the present status and forecast future in the developed and emerging markets.
The report profiles some prominent players of the market AccorHotels, Canyon Ranch, Carlson Rezidor Hotel Group, Four Seasons Hotels Ltd., Hilton Worldwide Holdings Inc., Hyatt Corporation, Marriott International, Inc., Omni Hotels & Resorts, PRAVASSA, and Rancho La Puerta Inc.
Segmentation section of the report covers service type, location, and region. Service type includes transport, lodging, food & beverage, shopping, and others. Both transport and lodging are dominating the segment currently owing to the high demand for enhanced hospitality and a better transportation system across the globe. Location section covers domestic and international. Among which, the domestic segment is gaining traction in the market since it is inexpensive and also a rising number of domestic trips is augmenting the segment growth.
Geographically, the market has been analyzed across the region of North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. At present, North America is accounted for the highest share in the global wellness tourism market owing to the rising demand for the wellness services among consumer in the region.
The Report Segments Global Wellness Tourism Market -
By Service Type
- Food & Beverage
- Others (Telecom, Insurance, and Travel Agencies)
- North America
- Latin America
- Middle East and Africa
Major Players Outlined in the Market:
AccorHotels, Canyon Ranch, Carlson Rezidor Hotel Group, Four Seasons Hotels Ltd., Hilton Worldwide Holdings Inc., Hyatt Corporation, Marriott International, Inc., Omni Hotels & Resorts, PRAVASSA, and Rancho La Puerta Inc.
Download the FREE SAMPLE of Global Wellness Tourism Market Research Report
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