According to the latest report by IMARC Group, title “Wellness Tourism Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2
According to the latest report by IMARC Group, title “Wellness Tourism Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027“, the global wellness tourism market size reached US$ 822.44 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 1,250.27 Billion by 2027, exhibiting a CAGR of 7.02% during 2022-2027.
Wellness Tourism Industry Outlook:
Wellness tourism refers to a lifestyle activity involving various trips that maintain and empower an individual’s well-being. It is formed to intensify authentic experiences and help the purpose of stress reduction, disease prevention, healthy living, and minimizing poor lifestyle habits. It also assists in the improvement of one’s mental and physical health. It involves tours to various places and facilities that fulfill its purposes, such as hospitals, wellness spas, wellness resorts, clinics, and fitness centers where wellness activities are conducted to ensure customer satisfaction.
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One of the primary factors driving the market is the significant increase in travel and personal well-being expenditure. Other than this, the growing incidence of lifestyle diseases due to sedentary lifestyles has led to the preference for leading a healthy lifestyle, which is contributing to the market growth. Besides this, the inflating income levels and rising health consciousness among the masses are also creating a positive market outlook.
Apart from this, technological advancements, including hotel and activity bookings, convenient flights, and the capability to compare several available adventure travel options through online platforms, are driving the market. Furthermore, extensive investment in research and development (R&D) activities, mergers and acquisitions (M&A) and various partnership strategies by market players are strengthening the market growth. Other major growth-inducing factors include rapid urbanization, increasing e-literacy rates, and growing social media influence worldwide.
|Wellness Tourism Market Report Scope|
|Market size value in 2021||US$ 822.44 Billion|
|Market forecast in 2027||US$ 1,250.27 Billion|
|Growth Rate||CAGR of 7.02% from 2022 to 2027|
|Base year for estimation||2021|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Segments covered||Travelers Type, Service Type, Location and Region|
|Market Dynamics||Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,|
|Customization preview||If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.|
Key Market Segmentation:
The report has been segmented the market into following categories:
Breakup by Travelers Type:
Breakup by Service Type:
- Food and Beverage
- Activities and Excursion
Breakup by Location:
Breakup by Geography:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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List of Key Companies Covered in this Market Report:
The major players in the market are Accor S.A., Four Seasons Hotels Limited, Hilton Worldwide Holdings Inc., Hyatt Hotels Corporation, InterContinental Hotels Group plc, Marriott International Inc., Radisson Hospitality Inc. (Jin Jiang International Co. Ltd.), Rancho La Puerta Inc., Red Carnation Hotels (The Travel Corporation), Rosewood Hotel Group (New World Development Company Limited) and Wyndham Hotels & Resorts Inc.
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