The global wellness tourism market size is expected to reach USD 1.2 trillion by 2026 registering a CAGR of 7.1%, according to a new report by Grand View Research, Inc. Rising number of health-conscious people is contributing to the increasing demand for wellness activities at popular travel destinations. Promotional campaigns arranged by various governments are also encouraging wellness tourism across the globe. Rising disposable income levels, especially in developing regions like China, India, and Mexico, have contributed to the increasing demand for wellness activities.
Key companies in the market offer various wellness services, such as spa services, mindfulness training, accommodation, and food & beverages. Preference for wellness activities along with vacation due to rising cases of various health issues associated with stress, such as insufficient sleep and physical inactivity, will drive the market further. According to the National Center for Chronic Disease Prevention and Health (NCCDPHP), the productivity losses from absenteeism cost employers USD 225.8 billion or USD 1,685 per person, annually.
Europe was the dominant regional market in 2018 as it has been a popular travel destination for years. On the other hand, Asia Pacific is expected to witness the fastest CAGR from 2019 to 2026. China and India are the key markets in Asia Pacific region. In India, Heaven on Earth airport spa chain announced their merger with Serena Spa in January 2016. This merger helped Heaven on Earth become the largest spa company in India. Thus, such business strategies adopted by key companies in the region will augment the market growth further.
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Grand View Research has segmented the global wellness tourism market on the basis of service, travel purpose, travel type, and region:
Wellness Tourism Service Outlook (Revenue, USD Billion, 2015 – 2026)
Wellness Tourism Travel Purpose Outlook (Revenue, USD Billion, 2015 – 2026)
Wellness Tourism Travel Type Outlook (Revenue, USD Billion, 2015 – 2026)
Key Topic Covered
Chapter 1 Methodology and Scope 1.1 Market Segmentation & Scope 1.1.1 Service 1.1.2 Travel Purpose 1.1.3 Travel Type 1.1.4 Regional Scope 1.1.5 Estimates And Forecast Timeline 1.2 Research Methodology 1.3 Information procurement 1.3.1 Purchased Database 1.3.2 GVR’s Internal Database 1.3.3 Secondary Sources 1.3.4 Primary Research 1.4 Information or Data Analysis 1.4.1 Data Analysis Models 1.5 Market Formulation & Validation 1.6 Model Details 1.6.1 Commodity Flow Analysis (Model 1) 1.6.2 Volume Price Analysis (Model 2) 1.7 List of Secondary Sources 1.8 Objectives 1.8.1 Objective – 1 1.8.2 Objective – 2 Chapter 2 Executive Summary 2.1 Market Outlook 2.2 Segment Outlook 2.2.1 Service 2.2.2 Travel Purpose 2.2.3 Travel Type 2.2.4 Region 2.3 Competitive Insights Chapter 3 Market Variables, Trends & Scope 3.1 Market Segmentation 3.2 Penetration & Growth Prospect Mapping 3.2.1 Penetration Analysis 3.2.2 Market Driver Analysis 3.2.3 Market Restraint Analysis 3.3 Wellness Tourism Market: Business Environment Analysis Tools 3.3.1 Porter’s Five Forces Analysis 3.3.1.1 Bargaining Power of Suppliers 3.3.1.2 Bargaining Power of Buyers 3.3.1.3 Threat of New Entrants 3.3.1.4 Competitive Rivalry 3.3.1.5 Threat of Substitutes 3.3.2 Pestel Analysis 3.3.2.1 Political & Legal 3.3.2.2 Economic 3.3.2.3 Technological
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Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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