Wellness Tourism Market - Global Industry Analysis, Market Size, Share, Trends, Analysis, Growth and Forecast 2017 - 2025

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Wellness Tourism Market - Global Industry Analysis, Market Size, Share, Trends, Analysis, Growth and Forecast 2017 - 2025

Status : August, 2020 | Healthcare IT | PPT format

Report Digest


Global Wellness Tourism Market: Snapshot

The demand within the global market for wellness tourism is expanding on account of the global propensity of the masses to immerse themselves into the cultures of a foreign land. Wellness tourism essentially refers to travel to a different country or region in order to get physiological and mental tranquillity through the native therapies of that region. In the contemporary times, globalization has not just led to the exchange of products and services across regions, but has also led to an exchange of cultures. Hence, the demand within the global market for wellness tourism is expected to reach new heights over the forthcoming years.

Marketing and promotions have played a crucial role in establishing an image of mental peace and physical wellness attained through herbal treatments, spa therapies, and rejuvenation programs in exotic locations. This factor, coupled with the rising paying capacity of the masses has eased the travel of people across countries for physiological wellness. Hence, the demand within the global market for wellness tourism has been expanding at a robust rate in recent times. Furthermore, several holiday planners and hospitality websites have emerged over the past decade, and these entities have extensively promoted the domain of wellness tourism. This has also created growth spaces within the global market for medical tourism.

Several exotic destinations in Asia Pacific including Malaysia, the Indian mountain ranges, and Chinese retreats are extremely popular across the globe. Hence, the demand within the market for wellness tourism across Asia Pacific has been increasing at a healthy rate. The general propensity to travel to unexplored destinations has propelled demand for wellness tourism across North America and Europe.

Global Wellness Tourism Market: Overview

The global wellness tourism market is poised for healthy growth in the years ahead. The rising incidence of mental illness mostly related to personal and professional reasons is stoking demand for holistic remedial therapies.

Wellness tourism refers to travelling wherein activities planned for health and well-being are on top priority. Trips organized for wellness include healthy food, spa treatments, exercise, and opportunities for spiritual and creative development. Wellness therapies include administering conventional, complementary, alternative, herbal, or homeopathic medicine on its own or in combination.

Global Wellness Tourism Market: Trends and Opportunities

One of the key growth drivers of the wellness tourism market is increasing interest of hospitality industry towards wellness. Large hotel chains are equipped with state-of-the-art health and wellness center that guests that combine on their stay. These offer massage, spa treatments, meditation, spiritual healing, and herbal therapies. Primary travelers who undertake wellness trips focus on achieving wellness.

The growth of leisure travel is also serving to boost wellness tourism. Travelers from different parts of the world seeking to experience local culture tend to experience local age-old health remedies in their travel. Word of mouth marketing of wellness and health remedies offered at a particular place is boosting wellness tourism.

Secondary travelers look for additional wellness package while on leisure trips to experience fitness. Wellness programs may include organic food, special diets seasonal fruits, natural herbs, spa treatments, massages with aromatherapy within the hotels. Consequently, increasing number of hotels that carry wellness destination quality labels are indirectly boosting wellness tourism.

Travelers traveling with religious objectives also tend to experience local medicinal therapies offered by local healers. This serves to boost wellness tourism.

Global Wellness Tourism Market: Market Potential

In a recent industry news, in India, Maharashtra Tourism Development Corporation (MTDC) joined hands with Global Vipassana Pagoda to promote wellness tourism. The objective of the association is to encourage and promote wellness tourism in the state.

Global Wellness Tourism Market: Geographical Outlook

North America is a key regional market for wellness tourism. High awareness among individuals about holistic health therapies and high disposable incomes that boost travel for health are key factors that promote North America wellness tourism market. The U.S. and Canada are key domestic markets for wellness tourism in North America. The growing popularity of wellness tourism among baby boomers will further boost the North America market for anti-ageing treatments and spa treatments.

Asia Pacific is rapidly emerging as a key market for wellness tourism. Rising popularity of health practices of Ayurveda are drawing large number of westerners to India. Individuals are recognizing the long term health benefits of Ayurveda and are traveling to Indian shores to learn and practice wellness therapies. This is giving a push to the wellness tourism market.

Rising adoption of ancient Chinese medicine and other oriental therapies known to bbost health and well-being is favoring the wellness tourism market.

Global Wellness Tourism Market: Competitive Outlook

Top players in the global wellness tourism market are Accor Hotels, IHG, Canyon Ranch, and Red Carnation Hotels. Other prominent vendors in the market include IHHR Hospitality (Ananda resort), Body and Soul Wellness Center, Fitpacking, Gwinganna Lifestyle, Hilton, Kamalaya Koh Samui, MOUNTAIN TREK FITNESS RETREAT & HEALTH SPA, Wellness & Hormone Centers of America, Aro Ha Wellness Retreat, BodySense, Four Seasons Hotels, Hyatt, Marriott International, and Rancho La Puerta.

The study presents a granular assessment and quantitative evaluation of:

  • Key growth factors and prominent trends
  • Size and share of key segments in overall market
  • Key challenges and winning imperatives
  • Factors shaping competitive landscape
  • Insights into how contours of market will change in coming years
  • Technological advances
  • New avenues and imminent investment pockets
  • Regulatory landscape shaping current and future strategies of companies

The region-wise assessment includes market dynamics in:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.

The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:

  • Which key factors will shape the competitive landscape?
  • Which trends will stimulate research and development activities in different geographies?
  • Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
  • Which disruptions in market growth are likely to come with the new business models?
  • Which are some of the recent overhauls in policies that may change the course of the market significantly?
  • Which are the geographies that will form sizable sources of new streams to new and established players alike?
  • How are top players likely to realign their strategy to counter the forces of competition?
  • Which key strategies emerging players are likely to focus on to consolidate their position?
  • Which changes in end-user preferences might affect the status quo held by the leading players?
  • Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?

Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.