New York, Dec. 10, 2024 (GLOBE NEWSWIRE) -- Market Overview
Global Wellness Tourism Market is forecasted to reach USD 1,094.9 billion by the end of 2024 and grow to USD 3,254.7 billion in 2033, with a CAGR of 12.9%.
Wellness tourism involves trips for health and wellness via an array of activities and services. It includes various things, from physical and spiritual to mental rejuvenation, offered by trips to destinations offering wellness retreats, spa treatments, yoga classes, meditation, and healthy food.
Destinations may include resorts, health spas, or retreats offering special programs that help improve overall health. This is a growing sector, that caters to consumers looking for relaxation, rejuvenation, and holistic health solutions. This market could be said to have grown eminently, aided by rising consumer awareness of health and wellness and unmet demand for experiential holidays.
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The US Wellness Tourism Market
The US Wellness Tourism Market is projected to reach USD 409.8 billion by the end of 2024 and grow substantially to an expected USD 1,146.2 billion market by 2033 at an anticipated CAGR of 12.1%.
This is due to a growing consciousness of health and wellness issues among US travelers, which is entailed by rising lifestyle diseases and stress-related ailments. The growth in awareness creates demand for trips with wellness value, summarily encompassing relaxation, mental health, and physical fitness.
Technology is leading the development of wellness tourism, with mobile apps, wearables, and online platforms increasingly supporting personalized wellness experiences. This is furthering convenience in health tracking and virtual wellness consultations to improve travel experiences.
Important Insights
- Market Growth: The global Wellness Tourism market is expected to grow by 12.9% CAGR with a total growth of USD 3,254.7 billion.
- Market Definition: Tourism undertaken to promote physical, mental, or spiritual well-being is referred to as Wellness tourism.
- Services Analysis: Lodging is projected to hold the largest revenue share in the wellness tourism sector, accounting for 25.4% in 2024.
- Purpose of Travel Analysis: The secondary purpose of travel is expected to dominate the global wellness tourism market with the highest revenue share in 2024.
- Travel Type Analysis: Domestic travel is forecasted to lead the global wellness tourism market, boasting a greater revenue share in 2024.
- Channel Analysis of Booking: The online booking channel is likely to hold a high market position in the global wellness tourism industry, with a revenue share of 56.2% in 2024.
- Regional Analysis: The North American region is anticipated to dominate the global Wellness Tourism marketplace holding a global market share of 44.5% by 2024.
Latest Trends
- Increase in Customized Wellness Experiences: Personalized wellness programs catering to individual preferences are on the rise.
- Incorporation of Technology: Mobile apps, wearables, and virtual reality are enhancing personalized wellness experiences.
Competitive Landscape
- Moderate Fragmentation: A mix of large and small players compete, with trends showing increasing market fragmentation as niche providers emerge.
- Key Players: Major players include Canyon Ranch, Six Senses Hotels Resorts Spas, and Mandara Spa, alongside boutique wellness retreats.
- Competitive Strategies: Key players focus on service enhancement, technology integration, and strategic partnerships to stay competitive.
Some of the prominent market players:
- Hilton
- Accor
- Hyatt Corporation
- Rancho La Puerta, Inc.
- Marriot International, Inc.
- Rosewood Hotel Group
- Niraamaya Wellness Retreat
- InterContinental Hotels Group
- Omni Hotels & Resorts
- Radisson Hospitality
- Four Seasons Hotels Limited
- Other Key Players
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Wellness Tourism Market Scope
| Report Highlights | Details |
| Market Size (2023) | USD 1,094.9 Bn |
| Forecast Value (2032) | USD 3254.7 Bn |
| CAGR (2023-2032) | 12.9% |
| The US Market Size (2024) | USD 409.8 Bn |
| Leading Region in terms of Revenue Share | North America |
| Percentage of Revenue Share by Leading Region | 44.5% |
| Historical Data | 2018 - 2023 |
| Forecast Data | 2025 - 2033 |
| Base Year | 2023 |
| Estimate Year | 2024 |
| Segments Covered | By Services, By Travel Purpose, By Travel Type, By Booking Channel |
| Regional Coverage | North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
Market Analysis
Lodging is more likely to lead the wellness tourism market with a share of 25.4% in the year 2024, considering that luxury and high-star-rated hotels and resorts are hugely available at popular tourist spots. The basket of accommodation varies from tents, caravans, campervans, and motels to conventional ones like hotels, hostels, inns, private homes, and even bed & breakfasts or homestays. Wellness tourism accommodations are generally very specialized. There is much more to it than just providing a 'roof over the head'. They will seek an immersive environment that nurtures their health and well-being.
Wellness Tourism Market Segmentation
By Service
- Lodging
- Wellness Activities
- In-country Transport
- Food & Beverage
- Shopping
- Others
By Travel Purpose
- Primary
- Secondary
By Travel Type
- Domestic
- International
By Booking Channel
- Online Booking
- In Person Booking
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Drivers
- Health and Well-being Focus: Growing interest in physical, mental, and spiritual wellness is boosting demand for wellness tourism.
- Increase in Disposable Income: Rising income levels, particularly in emerging markets, are enabling more people to afford wellness travel experiences.
Restraints
- High Price: Wellness tourism packages are often expensive, limiting affordability for a wider customer base.
- Seasonal Variability: Demand is concentrated in specific seasons, creating availability and scheduling challenges for consumers and providers.
Opportunities
- Expansion of Niche Wellness Offerings: Tailoring wellness experiences to specific needs (e.g., mental health retreats, detox programs) can attract a broader audience.
- Sustainable and Eco-Friendly Wellness Tourism: Growing consumer interest in sustainability offers opportunities for eco-friendly wellness practices and retreats.
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Regional Analysis
North America is likely to hold the leading share of 44.5% in the global wellness tourism market in 2024 due to the increasing focus on physical and mental health and the growing disposable income of this region. A well-developed infrastructure in the form of spas, wellness resorts, fitness retreats, and holistic centers fabrics market growth in the region.
The broad network in this region meaningfully develops for any travelers the scope of various wellness activities running a gamut from luxury treatment in spa facilities to fitness programs, wellness retreats, and more. The major airports or highways make transportation in the region very easy for travelers to access wellness destinations.
By Region
North America
- The U.S.
- Canada
Europe
- Germany
- The U.K.
- France
- Italy
- Russia
- Spain
- Benelux
- Nordic
- Rest of Europe
Asia-Pacific
- China
- Japan
- South Korea
- India
- ANZ
- ASEAN
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Rest of Latin America
Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Egypt
- Rest of MEA
Recent Developments
- January 2024: Miraval introduced a biophilic design initiative across its existing and new properties. This design approach integrates natural elements into architecture and interior design to promote well-being and reduce stress. The initiative focuses on creating spaces that blend with natural surroundings, enhancing the mindfulness and relaxation experiences for guests.
- March 2024: Miraval launched enhanced mental health and mindfulness programs in March 2024. These programs aim to address the rising demand for mental wellness retreats, offering personalized therapies, meditation practices, and holistic healing aimed at managing post-pandemic stress and anxiety.
- July 2023: BODDY, a leading tech startup at the intersection of travel and wellness, announced the closing of its seed round, raising USD 2.19 million in capital. The lead investor is Dr. Li Wu, a distinguished health research scientist, entrepreneur, start-up founder, and investor. Dr. Wu’s extensive experience in the industry, coupled with her strategic vision, makes her an invaluable addition to BODDY.
- April 2023: Miraval Resorts expanded its portfolio by launching Miraval the Red Sea in Saudi Arabia. This is the brand’s first venture in the Middle East, offering a wellness destination designed around mindfulness, yoga, and sustainability.
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