Precedence Research recently published a report on “Wellness Tourism Market (By Service: Lodging, Food, Transport, Beverage, Wellness activity, and Others; By Destination: International and Domestic; By Traveler: Primary and Secondary) – Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2021 – 2030”, The global wellness tourism market size is projected to reach USD 1,672.6 billion by 2030 from an estimated USD 793.2 billion in 2020, at a CAGR of 7.7% from 2021 – 2030.
The market revenue/volume with the help of widespread quantitative and qualitative insights, and forecasts of the market. This report presents the breakdown of market into forthcoming and niche segments. Additionally, this research study gauges market revenue growth and its drift at global, regional, and country from 2017 to 2030. This research report evaluates wellness tourism market on a global and regional level. It offers thorough analysis of market status, growth and forecast of the global wellness tourism market for the period from 2017 to 2030.
Wellness tourism refers to the tourism undertaken for indulging in wellness activities such as yoga and meditation retreats, spa treatment, Ayurveda treatment, agricultural tourism, shopping, and spiritual activities to name a few. The growing cases of various physical and mental diseases, rising prevalence of stress, depression, and anxiety, and unhealthy habits among the population are the primary drivers of the global wellness tourism market. The wellness tourism is intended to prevent physical and mental illness by encouraging wellness and healthy lifestyle. The rapid growth of the middle class and increasing desire for active and healthy lifestyle are fueling the demand for wellness tourism across the globe. Moreover, easy availability of online tickets and availability of huge number of service providers is positively impacting the market growth.
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Scope of the Study
This wellness tourism market report studies market dynamics, status and outlook especially in North America, Europe and Asia-Pacific, Latin America, Middle East and Africa. This research report offers scenario and forecast (revenue/volume), and categorizes market by players, type, application, and region. This report also studies global market prominence, competitive landscape, market share, growth rate market dynamics such as drivers, restraints and opportunities, and distributors and sales channel.
This research study also integrates Industry Chain analysis and Porter’s Five Forces Analysis. Further, this report offers competitive scenario which comprises collaborations, market concentration rate and expansions, mergers & acquisitions undertaken by companies.
Crucial factors accountable for market growth are:
Regional Snapshots
Based on the region, the North America dominated the global wellness tourism market in 2020, in terms North America is the dominating wellness tourism market. The US alone attracts more than 33% of the global wellness tourism expenditure. The aggressive marketing by the top players regarding the importance of physical and psychological wellness being attained through yoga, rejuvenation therapies, herbal treatment, meditation, agricultural tourism, and spa therapies in an exotic destination is a major factor that shaped the wellness tourism market in North America. The basic idea was to make people aware that visiting to a foreign place and attaining various local therapies is beneficial for mental and physical health. This idea was well supported by the rising disposable income of the consumers, demand for healthy and active lifestyle, and increased consumer expenditure on health and wellness.
Asia Pacific is estimated to be the fastest-growing wellness tourism market owing to the growing popularity of various exotic destinations in Asia Pacific such as China, mountain ranges of India, Malaysia, and Singapore. Moreover, the growing penetration of hotel chains equipped with wellness centers to provide massages, spa treatments, herbal treatments, and rejuvenation programs have positively impacted the market growth in this region.
Report Highlights
Drivers
According to the Global Wellness Institute, in 2017, the total number of domestic and international wellness trips accounted for around 17% of the global tourism expenditure. This implies that tourists are increasingly participating in wellness activities while they travel to domestic and international destinations. The sedentary lifestyle of the consumers, busy and hectic lifestyle, and unhealthy habits have resulted in a decreased physical activity, which give rise to a number of physical and mental issues. Therefore, tourists tend to participate in physical, psychological, and spiritual wellness activities during their vacations. This factor is significantly driving the growth of the global wellness tourism market.
Restraints
There are certain restraining factors to the wellness tourism market. The lack of awareness about wellness tourism, low income population in developing and underdeveloped nations, and political unrest in several nations are few of the major constraining factors that may hamper the growth of the wellness tourism market.
Opportunities
The growing technological advancements in tourism industry is expected to offer growth opportunities. For instance, use of augmented reality (AR) and virtual reality (VR) by the top hotels for providing a virtual tour to their customers before booking rooms and use of robots for carrying and handling the guests’ luggage in hotels are the latest developments in the tourism industry that is expected to change the face of online hotel bookings.
Challenges
The major challenges encountered by the wellness tourism industry include threat of terrorist attacks, outbreak of pandemic, and bad geopolitical relations between countries. These are the various challenges that are not under the control of the tourism industry and these factors might harm the growth of the market significantly.
Recent Developments
Key Players:
This report also provides detailed company profiles of the key market players. This research report also highlights the competitive landscape of the wellness tourism market and ranks noticeable companies as per their occurrence in diverse regions across globe and crucial developments initiated by them in the market space. This research study also tracks and evaluates competitive developments, such as collaborations, partnerships, and agreements, mergers and acquisitions; novel product introductions and developments, promotion strategies and Research and Development (R&D) activities in the marketplace. The competitive profiling of these players includes business and financial overview, gross margin, production, sales, and recent developments which can aid in assessing competition in the market.
Some of the prominent players in the wellness tourism market include:
Segments Covered in the Report
By Service
By Destination
By Traveler
By Geography
Key Points Covered in wellness tourism market Study:
TABLE OF CONTENT
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. Market Dynamics Analysis and Trends
5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition
Chapter 6. Competitive Landscape
6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers
Chapter 7. Global Wellness Tourism Market, By Service
7.1. Wellness Tourism Market, by Service Type, 2021-2030
7.1.1. Lodging
7.1.1.1. Market Revenue and Forecast (2017-2030)
7.1.2. Food
7.1.2.1. Market Revenue and Forecast (2017-2030)
7.1.3. Beverage
7.1.3.1. Market Revenue and Forecast (2017-2030)
7.1.4. Transport
7.1.4.1. Market Revenue and Forecast (2017-2030)
7.1.5. Wellness activity
7.1.5.1. Market Revenue and Forecast (2017-2030)
7.1.6. Others
7.1.6.1. Market Revenue and Forecast (2017-2030)
Chapter 8. Global Wellness Tourism Market, By Destination
8.1. Wellness Tourism Market, by Destination, 2021-2030
8.1.1. International
8.1.1.1. Market Revenue and Forecast (2017-2030)
8.1.2. Domestic
8.1.2.1. Market Revenue and Forecast (2017-2030)
Chapter 9. Global Wellness Tourism Market, By Traveler
9.1. Wellness Tourism Market, by Traveler, 2021-2030
9.1.1. Primary
9.1.1.1. Market Revenue and Forecast (2017-2030)
9.1.2. Secondary
9.1.2.1. Market Revenue and Forecast (2017-2030)
Chapter 10. Global Wellness Tourism Market, Regional Estimates and Trend Forecast
10.1. North America
10.1.1. Market Revenue and Forecast, by Service (2017-2030)
10.1.2. Market Revenue and Forecast, by Destination (2017-2030)
10.1.3. Market Revenue and Forecast, by Traveler (2017-2030)
10.1.4. U.S.
10.1.4.1. Market Revenue and Forecast, by Service (2017-2030)
10.1.4.2. Market Revenue and Forecast, by Destination (2017-2030)
10.1.4.3. Market Revenue and Forecast, by Traveler (2017-2030)
10.1.5. Rest of North America
10.1.5.1. Market Revenue and Forecast, by Service (2017-2030)
10.1.5.2. Market Revenue and Forecast, by Destination (2017-2030)
10.1.5.3. Market Revenue and Forecast, by Traveler (2017-2030)
10.2. Europe
10.2.1. Market Revenue and Forecast, by Service (2017-2030)
10.2.2. Market Revenue and Forecast, by Destination (2017-2030)
10.2.3. Market Revenue and Forecast, by Traveler (2017-2030)
10.2.4. UK
10.2.4.1. Market Revenue and Forecast, by Service (2017-2030)
10.2.4.2. Market Revenue and Forecast, by Destination (2017-2030)
10.2.4.3. Market Revenue and Forecast, by Traveler (2017-2030)
10.2.5. Germany
10.2.5.1. Market Revenue and Forecast, by Service (2017-2030)
10.2.5.2. Market Revenue and Forecast, by Destination (2017-2030)
10.2.5.3. Market Revenue and Forecast, by Traveler (2017-2030)
10.2.6. France
10.2.6.1. Market Revenue and Forecast, by Service (2017-2030)
10.2.6.2. Market Revenue and Forecast, by Destination (2017-2030)
10.2.6.3. Market Revenue and Forecast, by Traveler (2017-2030)
10.2.7. Rest of Europe
10.2.7.1. Market Revenue and Forecast, by Service (2017-2030)
10.2.7.2. Market Revenue and Forecast, by Destination (2017-2030)
10.2.7.3. Market Revenue and Forecast, by Traveler (2017-2030)
10.3. APAC
10.3.1. Market Revenue and Forecast, by Service (2017-2030)
10.3.2. Market Revenue and Forecast, by Destination (2017-2030)
10.3.3. Market Revenue and Forecast, by Traveler (2017-2030)
10.3.4. India
10.3.4.1. Market Revenue and Forecast, by Service (2017-2030)
10.3.4.2. Market Revenue and Forecast, by Destination (2017-2030)
10.3.4.3. Market Revenue and Forecast, by Traveler (2017-2030)
10.3.5. China
10.3.5.1. Market Revenue and Forecast, by Service (2017-2030)
10.3.5.2. Market Revenue and Forecast, by Destination (2017-2030)
10.3.5.3. Market Revenue and Forecast, by Traveler (2017-2030)
10.3.6. Japan
10.3.6.1. Market Revenue and Forecast, by Service (2017-2030)
10.3.6.2. Market Revenue and Forecast, by Destination (2017-2030)
10.3.6.3. Market Revenue and Forecast, by Traveler (2017-2030)
10.3.7. Rest of APAC
10.3.7.1. Market Revenue and Forecast, by Service (2017-2030)
10.3.7.2. Market Revenue and Forecast, by Destination (2017-2030)
10.3.7.3. Market Revenue and Forecast, by Traveler (2017-2030)
10.4. MEA
10.4.1. Market Revenue and Forecast, by Service (2017-2030)
10.4.2. Market Revenue and Forecast, by Destination (2017-2030)
10.4.3. Market Revenue and Forecast, by Traveler (2017-2030)
10.4.4. GCC
10.4.4.1. Market Revenue and Forecast, by Service (2017-2030)
10.4.4.2. Market Revenue and Forecast, by Destination (2017-2030)
10.4.4.3. Market Revenue and Forecast, by Traveler (2017-2030)
10.4.5. North Africa
10.4.5.1. Market Revenue and Forecast, by Service (2017-2030)
10.4.5.2. Market Revenue and Forecast, by Destination (2017-2030)
10.4.5.3. Market Revenue and Forecast, by Traveler (2017-2030)
10.4.6. South Africa
10.4.6.1. Market Revenue and Forecast, by Service (2017-2030)
10.4.6.2. Market Revenue and Forecast, by Destination (2017-2030)
10.4.6.3. Market Revenue and Forecast, by Traveler (2017-2030)
10.4.7. Rest of MEA
10.4.7.1. Market Revenue and Forecast, by Service (2017-2030)
10.4.7.2. Market Revenue and Forecast, by Destination (2017-2030)
10.4.7.3. Market Revenue and Forecast, by Traveler (2017-2030)
10.5. Latin America
10.5.1. Market Revenue and Forecast, by Service (2017-2030)
10.5.2. Market Revenue and Forecast, by Destination (2017-2030)
10.5.3. Market Revenue and Forecast, by Traveler (2017-2030)
10.5.4. Brazil
10.5.4.1. Market Revenue and Forecast, by Service (2017-2030)
10.5.4.2. Market Revenue and Forecast, by Destination (2017-2030)
10.5.4.3. Market Revenue and Forecast, by Traveler (2017-2030)
10.5.5. Rest of LATAM
10.5.5.1. Market Revenue and Forecast, by Service (2017-2030)
10.5.5.2. Market Revenue and Forecast, by Destination (2017-2030)
10.5.5.3. Market Revenue and Forecast, by Traveler (2017-2030)
Chapter 11. Company Profiles
11.1. Hilton Worldwide
11.1.1. Company Overview
11.1.2. Product Offerings
11.1.3. Financial Performance
11.1.4. Recent Initiatives
11.2. Accor Hotels
11.2.1. Company Overview
11.2.2. Product Offerings
11.2.3. Financial Performance
11.2.4. Recent Initiatives
11.3. Marriot International
11.3.1. Company Overview
11.3.2. Product Offerings
11.3.3. Financial Performance
11.3.4. Recent Initiatives
11.4. Hyatt Hotels
11.4.1. Company Overview
11.4.2. Product Offerings
11.4.3. Financial Performance
11.4.4. Recent Initiatives
11.5. Rosewood Hotels
11.5.1. Company Overview
11.5.2. Product Offerings
11.5.3. Financial Performance
11.5.4. Recent Initiatives
11.6. InterContinental Group
11.6.1. Company Overview
11.6.2. Product Offerings
11.6.3. Financial Performance
11.6.4. Recent Initiatives
11.7. Radisson Hospitality
11.7.1. Company Overview
11.7.2. Product Offerings
11.7.3. Financial Performance
11.7.4. Recent Initiatives
11.8. Rancho La Puerta, Inc.
11.8.1. Company Overview
11.8.2. Product Offerings
11.8.3. Financial Performance
11.8.4. Recent Initiatives
11.9. PRAVASSA
11.9.1. Company Overview
11.9.2. Product Offerings
11.9.3. Financial Performance
11.9.4. Recent Initiatives
11.10. Omni Hotels & Resorts
11.10.1. Company Overview
11.10.2. Product Offerings
11.10.3. Financial Performance
11.10.4. Recent Initiatives
11.11. Four Seasons Hotels
11.11.1. Company Overview
11.11.2. Product Offerings
11.11.3. Financial Performance
11.11.4. Recent Initiatives
Chapter 12. Research Methodology
12.1. Primary Research
12.2. Secondary Research
12.3. Assumptions
Chapter 13. Appendix
13.1. About Us
13.2. Glossary of Terms
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