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Wellness Tourism Market 2021 Growth, Latest Trend Analysis and Forecast 2030 Says Precedence Research

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The wellness tourism market was exceeded US$ 793.2 billion in 2020 and is projected to reach US$ 1,672.6 billion by 2030, expanding at an annual CAGR of 7.7 percent, according to a 2021 study by Precedence Research, the Canada-based market Insight Company. The report contains 150+ pages with detailed analysis.

The base year for the study has been considered 2021, the historic year 2017 to 2020, the forecast period considered is from 2021 to 2030. The dairy products market is analyzed on the basis of value (US$ Million), volume (Unit), and price (US$/Unit).

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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Market Report Scope

Report Highlights Details
Market Size USD 1,672.6 Billion by 2030
Growth Rate CAGR of 7.7% From 2021 to 2030
Base Year 2020
Forecast Period 2021 to 2030

Competition Landscape

In the final section of the research report, Precedence Research provided the global wellness tourism market structure and a detailed competition landscape to provide a dashboard view of key players operating in the wellness tourism market along with their business strategies to report audiences. This section is primarily designed to provide clients with an objective and detailed comparative assessment of the key providers specific to a market segment in the value chain of the market.

Some of the major players in the wellness tourism market include:

  • Hilton Worldwide
  • Accor Hotels
  • Marriot International
  • Hyatt Hotels
  • Rosewood Hotels
  • InterContinental Group
  • Radisson Hospitality
  • Rancho La Puerta, Inc.
  • PRAVASSA
  • Omni Hotels & Resorts
  • Four Seasons Hotels

Crucial factors accountable for market growth are:

  • Rapid growth of middle-class
  • Rising disposable income
  • Increasing government investments on infrastructure and connectivity
  • Rising awareness regarding wellness tourism
  • Growing penetration of internet and smart devices like smartphones
  • Increasing influence of social media
  • Growing prevalence of mental and physical disease
  • Increasing consumer expenditure on health and wellness

Report Highlights

  • By service, lodging segment led the global wellness tourism market with remarkable revenue share in 2020. This is attributed to the rapid growth of the large hotel chains that also provides exotic therapies such as rejuvenation programs, spa treatments, and other wellness services.
  • By destination, the domestic segment led the global wellness tourism market. This is majorly due to the government support to boost domestic tourism. Domestic tourism is used as a tool for generating employment, improve infrastructure, and hence boost economic growth of the country.
  • By traveler, the secondary segment led the global wellness tourism market because of the cost saving benefit. Generally a person visiting for any purpose such as business meeting, there are high chances of him to include wellness activities in his trip that allows him to gain dual benefits of business with wellness at less cost.

Market Dynamics

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.

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.

Market Segmentation

By Service

  • Lodging
  • Food
  • Transport
  • Beverage
  • Wellness activity
  • Others

By Destination

  • International
  • Domestic

By Traveler

  • Primary
  • Secondary

Regional Segmentation

– North America (U.S. and Canada)

 – Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)

 – Asia-Pacific (China, Japan, India, Southeast Asia and Rest of APAC)

 – Latin America (Brazil and Rest of Latin America)

– Middle East and Africa (GCC, North Africa, South Africa, Rest of MEA)

Research Methodology

Secondary Research

It involves company databases such as Hoover’s: This assists us recognize financial information, structure of the market participants and industry competitive landscape.

The secondary research sources referred in the process are as follows:

  • Governmental bodies, and organizations creating economic policies
  • National and international social welfare institutions
  • Company websites, financial reports and SEC filings, broker and investor reports
  • Related patent and regulatory databases
  • Statistical databases and market reports
  • Corporate Presentations, news, press release, and specification sheet of Manufacturers

Primary Research

Primary research includes face-to face interviews, online surveys, and telephonic interviews.

  • Means of primary research: Email interactions, telephonic discussions and

Questionnaire based research etc.

  • In order to validate our research findings and analysis we conduct primary interviews of key industry participants. Insights from primary respondents help in validating the secondary research findings. It also develops Research Team’s expertise and market understanding.

Most Asked Questions –

  • What was the market size value of the wellness tourism in 2020?
  • What is the expected market size by 2030?
  • What is the wellness tourism market growth?
  • What are the key factors that positively influence market growth?
  • Who are the prominent players in the wellness tourism market?

Why should you invest in this report?

If you are aiming to enter the global wellness tourism market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for wellness tourism are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2021-2030, so that you can plan your strategies to enter this market accordingly.

Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.

Purchase Full Research Report (Single User License US$ 4500) @ https://www.precedenceresearch.com/checkout/1294

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

Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.

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