Wellness Tourism Market Report 2021 Covering Size, Share, Trends, Growth, Revenue, and Forecast 2021 to 2028

The global Wellness Tourism market size is expected to be worth around US$ 1.10 trillion by 2028, according to a new report by Vision Research Reports.

The global Wellness Tourism market size was valued at US$ 683.5 billion in 2020 and is anticipated to grow at a CAGR of 7.10% during forecast period 2021 to 2028.

According to the health and wellness trends for 2020, the spa industry reached $18 billion in market size. The industry employed more than 366 thousand individuals, with more than 22 thousand businesses.

With this in mind, the same PwC research effort determined that at this time, the total value of the wellness tourism market is situated around $639 billion. An exponential increase is currently underway, granted that between 2015 and 2017, its value has grown at a rate of 6.5% per year, according to health and wellness industry data.

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Why Wellness Tourism?

Wellness tourism involves travel with the aim of facilitating well-being and good health through psychological, spiritual, or physical activities. Wellness tourism differs markedly from medical tourism. The former involves tourism focused on prevention of diseases and maintaining quality of life, whereas the latter generally involves travel for the purpose of receiving treatment for a diagnosed disease or medical condition. Wellness tourism encompasses diverse industries that enable consumers to incorporate wellness into their daily lives. These products and services help consumers extend wellness to their homes and work environments with their daily activities such as having food and exercise.

Traveling to places and facilities, such as hospitals, clinics, wellness SPAs, fitness centers, and wellness resorts, to enrich the mental as well as physical health is a part of the lifestyle of people now-a-days. This shift in choice makes way for wellness tourism, which involves the promotion of health and personal well-being through various physical, psychological, and spiritual activities. It also includes various services such as transport, lodging, food & beverage, shopping, and others.

Growth Factors

Inclination of tourists to socialize with local people and learn about their nature and culture to maintain healthy lifestyle, reduce stress, prevent disease, and enhance their wellbeing resulted in increase of number of such travelers, which, in turn, is expected to drive the wellness tourism market growth.

With the increase in e-literacy, the adoption of mobiles, computers, and other networking devices is rising notably. Online travel service providers aim to ease travel planning and bookings for travelers, as consumers are gradually shifting from traditional reservation to online reservation. Moreover, quick & convenient flight and hotel bookings, activity booking, rise in customer trust in online payment, and ability to compare various available adventure travel options drive the online travel industry growth, which, in turn, fuels the growth of the market.

Growing terrorist attacks, political unrest, and civil riots acts as a threat for the future growth of the travel industry. Attributed to the risk associated and warnings issued by government authorities to avoid such travel, the tourism industry has witnessed decrease in travel booking. Traveler’s safety concerns act as a major setback for travel destinations with higher safety risk. For instance, growing terrorist attacks across the globe has spread fear among people; hence, they have started to opt for destinations, which are less exposed to terrorism and political unrest. Change in travel destination due to safety issue acts as a threat to the growth of the overall wellness tourism market.

A key factor driving the global wellness tourism market is the rise in disposable incomes, particularly in developing countries, owing to rapid growth of economies of these countries. Higher income levels have also shifted the trend toward increased discretionary spending, particularly on wellness goods and services. According to certain estimates, the average per capita disposable income in the Asia Pacific region increased by 19.3% from 2007 to 2012, which is slated to increase by 35.2% till 2020. Surge in the disposable income is expected to boost the demand for wellness tourism due to rise in the number of health-conscious people

The growing burden of chronic diseases is a prominent factor promoting the growth of the global wellness tourism market. The increase in urbanization fueled by rapid economic growth has led to unbalanced diets and sedentary lifestyle. This, in turn, has augmented the prevalence of lifestyle-associated diseases such as obesity, diabetes, and high cholesterol. According to a study conducted by the Institute for Health Metrics & Evaluation (IHME), a global health research organization, in 2013, approximately 30% of the global population is either overweight or obese. The rise in disposable incomes is raising expenditure on fast food or junk food, causing surge in the prevalence of diseases such as diabetes. According to the World Health Organization (WHO), the number of individuals with diabetes worldwide increased to 422 million in 2014 from 108 million in 1980. The rate of prevalence of diabetes in people aged above 18 years has risen to 8.5% in 2014 from 4.7% in 1980. The WHO estimates that diabetes is projected to be the seventh leading cause of deaths worldwide by 2030.

Additionally, people in countries such as the U.S., Brazil, and Mexico are increasingly resorting to wellness procedures such as beauty treatments, anti-aging treatments, weight loss programs, spa therapies, and yoga programs in order to boost their physical as well as mental well-being. The popularity of these programs coupled with the rise in stress levels is expected to propel the global wellness tourism market during the forecast period. On the other hand, shortage of facilities (for example, lack of adequate infrastructure and skilled and trained workers) in developing countries is expected to impede the market during the forecast period.

The COVID-19 pandemic has disrupted nearly every consumer category, influencing new consumer behaviors, stifling entire industries, and inspiring growth in others, including pockets of the health sector. Rise of telemedicine, at-home fitness, and digital therapy has driven the growth of the wellness tourism market during the pandemic. The key players in sectors, such as telehealth and home fitness, have made significant gains throughout the pandemic, shaping the future of consumer behavior and the wellness sector.

Sales through International Tourism to Remain High

Demand for domestic tourism will continue to remain high compared to international tourism in the global market. Attributed to reasonable prices of the travel packages, domestic tourism will continue to be more preferred. On the basis of tourism type, the domestic tourism segment is projected to represent robust revenue growth, recording more than US$ 3.2 Tn by 2026-end. On the other hand, the international tourism type segment is projected to reflect a healthy CAGR throughout the forecast period.

In this study, the years considered to estimate the market size of Wellness Tourism are as follows:

• Historic Year: 2017-2020
• Base Year: 2021
• Forecast Year 2021 to 2028

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Report Highlights

On the basis of service type, the lodging services segment held the largest market share, in terms of revenue, in 2020. On the other hand, wellness activities are anticipated to be the fastest-growing segment over the forecast period as consumers are willing to spend more on health and wellness. Wellness activities include Ayurveda treatments, yoga, meditation, mindfulness training, spa treatments, agricultural tourism, and so on. Several other popular activities include shopping, dining, and sightseeing.

Hotels are definitely one of the fastest-growing segments of the wellness tourism, which is truly justified as lodging is a critical component of any country's or region's tourism growth.

Based on travel purpose, the secondary segment held the major share of 87% of the wellness tourism market. Secondary wellness tourism refers to tourists who include healthful destination activities, treatments, and mind-body experiences, such as spa treatments, exercise, or cuisine, and wines, into their total leisure and business travel as a part of their journey. Its travelers represent a much broader cross-section of visitors who have varied degrees of interest in wellness and are likely to show it in a variety of ways when traveling.

Primary tourism, on the other hand, is likely to witness the fastest growth rate in the coming years. Most of the wellness tourists are repeat customers as it satisfied them in terms of wellbeing.

Based on the travel type, the market is divided into domestic and international wellness tourism. Domestic service was the largest segment in 2020, in terms of revenue share, and will expand further at a healthy CAGR from 2021 to 2028. Rising expenditure recorded by domestic tourists for wellness activities is contributing to the segment growth. In 2017, domestic tourists spent around 150% more than average international tourists. Domestic visitors may find it simpler to travel and see sites since they are more familiar with the country's traditions, customs, regulations, etiquettes, and others. Domestic wellness tourism is growing day by day. Furthermore, domestic locations do not need visa or passport nor do they need to convert their money into a different currency; it makes it easier to travel in domestic locations than international. Thus, the popularity of domestic location is growing rapidly.

The international tourism segment is expected to witness the fastest CAGR over the forecast period due to higher expenditure per trip and a rise in the number of trips for the international market. The total number of trips increased by around 22% from 2016 to 2017. In 2017, more than 125 million international trips were recorded. The expenditure on the social and physical wellbeing of people, especially pertaining to the need for a healthy lifestyle, has boosted the demand for such services in the market.

On the basis of region, North America dominated the wellness tourisms market in 2020, and accounted for maximum share in the wellness tourism market and is likely to remain dominant throughout the wellness tourism market forecast period. Attributed to the extreme growing demand for health wellbeing, North America is one of the leading markets of wellness tourism industry. The U.S. accounts for more than one-third of all global wellness tourism revenues, and it is by far the largest national market. Individuals' high knowledge of holistic health therapies and their high disposable incomes, which encourage health-related travel, are important elements driving the North America wellness tourism market demand.

Asia Pacific, on the other hand, is expected to be the fastest-growing regional market from 2021 to 2028. Technological advancements and rising disposable income levels in developing countries, such as China and India, are likely to contribute to market growth. In 2016, a National Medical & Wellness Tourism Promotion board was introduced to promote tourism focusing on wellbeing.

Aman Spa opened a new holistic wellness center - Amanpuri in Thailand, offering integrative medical services. It is the first wellness center from Aman spas that offer medical services. Also, in July 2020, Evolution Wellness Holdings, a Malaysian company, launched a new integrated wellness resort, Fiveelements Pte. Ltd.

Wellness tourism represents 17% of all worldwide tourism expenditures.

As such, it can be concluded that a very large number of tourists do not travel for sightseeing like most people but rather to get in shape both mentally and physically. Several studies have been conducted on this case, proving the benefits associated with living an active lifestyle fuelled by travel.

While wellness industry tourism costs may be high when traveling abroad, many people seem to forget that all of the world’s countries offer beautiful destinations and attractions.

Predictions estimate that the worldwide spa market will reach the value of $154.6 billion by 2022.

As such, the wellness trend isn’t based solely on traveling, eating healthy food, and using smart devices. Spa represents a key component of the wellness and health market, as indicated by spa industry statistics. Reports also indicate that the revenue for spas was situated at $17.5 billion in the US during 2017.

28% of US-based gym members have reported using spa facilities regularly.

Trends indicate that spas are often used in the United States by gym membership holders. Of course, standalone spa centers are available outside the gym as well, where numerous people regularly attend sessions to improve their general wellbeing.

We hope that this stat also helps shed some light into how big is the health and wellness industry, since spa facilities represent an important percentage of the pie.

77% of respondents would work out more if their employer offered gym facilities.

This represents the main reason why numerous corporate offices have invested large amounts of capital into creating their very own gym facilities. Keeping employers healthy and fit is proven to have numerous advantages over their state of being, and of course, work productivity.

78% of Americans have changed their diet following a discussion with a healthcare professional.

This healthcare industry statistics helps showcase that individuals are most likely to listen to the advice given by their doctor, rather than being willing to take action on their own. As such, we can conclude that a large number of people do not care enough about their health and wellness, and only take action once they are at risk of disease or are feeling actual symptoms.

Access and cost of food represent the two challenges in the way of healthier eating habits.

It is believed that many more people would eat fruits and vegetables if cost and access to healthy organic products wouldn’t be an issue. At this point, many choose to eat meat, since it is generally cheaper, more fulfilling, but also easier to find.

On the other hand, since fruits and vegetables are more perishable, interest is low, despite their numerous healthy nutrients and the well-known benefits associated with having a balanced diet, based on the latest wellness trends and facts.

This problem can be fixed by lowering the artificial price of vegetables on the world’s market. The issue here is that distributors purchase the bulk of vegetables from producers at very low costs, which are then put into stores at much higher prices.

Studies concerning the P2P distribution of vegetables have pointed out that smarter and more cost-effective solutions exist. We need to eliminate third-parties and introduce direct purchases by consumers from producers.

Only 56% of consumers believe their health is excellent or very good.

We can conclude that the potential market value of the health and wellness industry is far from being reached. Since only 56% of respondents have good thoughts about their health, it is very likely that those who do not have this opinion are more than willing to invest and spend more on improving their wellness.

To truly improve your health and wellness, consistency is mandatory. Engaging in health and wellness-related practices for short timeframes is beneficial, yet it won’t provide any advantages in the long run. Like with many other things, discipline is key.

Health and wellness statistics also show that people should invest more effort into improving their overall health.

Only 37% of American citizens have a BMI score that is normal or low.

On the other hand, 32% of people are overweight, whereas 28% are obese. Because of this statistic, we can easily determine that the food industry needs to be rebuilt in the US and other areas of the world. More focus should be placed on promoting alternatives to unhealthy food.

The first step in this direction would be to drop the massive price differences between unhealthy and healthy food. The second step is directly linked to education, as more people need to be aware of the importance associated with their eating and exercising habits.

80% of surveyed respondents believe that the market boasts a lot of conflicting information regarding what we should eat.

This statistic can definitely apply to the Global Wellness Economy as well since it is not exclusive to the US. With this in mind, businesses have a habit of spreading false information when it comes down to promoting their health and wellness products.

As such, a crackdown on these false information campaigns is required to ensure that people throughout the world are well educated on what foods are healthy and their actual benefits.

Key Players

Accor Hotels
IHG
Canyon Ranch
Red Carnation Hotels
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
Rancho La Puerta

Employee Benefits to Impact Global Market Growth

Sedentary and stressful lifestyle is expected can hinder the performance of the employees of a company. Employers are increasingly offering various employee benefits such as travel refunds and leaves for vacations to ensure good health and well-being of the employees. As increasing number of companies are extending employee benefits, demand for wellness tourism is expected to remain high globally.

Chronic Diseases to Underscore Significant Growth Opportunities

Prevalence of chronic diseases such as arthritis, heart disease and obesity is expected to rev up demand for wellness tourism globally. According to CDC, 3 in 4 citizens in the U.S. who fall in the age bracket of 65 years and above have multiple chronic conditions including diabetes, high blood pressure and arthritis. Increasing demand for chronic care management has further led customers to spend on wellness tourism.

Growing need for spa therapies including steam baths and sauna treatments that detoxify the system through skin and helps in reducing weight is expected to encourage customers to spend on wellness tourism and various therapies offered in the tourism package.

Stressful Lifestyle to Boost Demand

Growing need to maintain health through various psychological, spiritual and physical activities has led to an upsurge in demand for spa therapies and relaxing treatments. Increasing demand for refreshing meditation, exercise, rejuvenating traditional therapies and healthy food is expected to rev up growth of the global wellness tourism market significantly.

Fast-paced and stressful lifestyle leads to increasing body pain in joints and other parts of body. Customers prefer spending on various relaxing spa therapies in order to relieve and manage body pain. Growth of the global wellness tourism market will continue to remain bound to surge in demand for detoxification, de-stressing and pain management globally.

Market Segmentation

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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 Type 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, 2020-2027

7.1.1. In-country Transport

7.1.1.1. Market Revenue and Forecast (2016-2027)

7.1.2. Lodging

7.1.2.1. Market Revenue and Forecast (2016-2027)

7.1.3. Food & Beverage

7.1.3.1. Market Revenue and Forecast (2016-2027)

7.1.4. Wellness Activities

7.1.4.1. Market Revenue and Forecast (2016-2027)

7.1.5. Shopping

7.1.5.1. Market Revenue and Forecast (2016-2027)

7.1.6. Others

7.1.6.1. Market Revenue and Forecast (2016-2027)

Chapter 8. Global Wellness Tourism Market, By Travel Purpose

8.1. Wellness Tourism Market, by Travel Purpose, 2020-2027

8.1.1. Primary

8.1.1.1. Market Revenue and Forecast (2016-2027)

8.1.2. Secondary

8.1.2.1. Market Revenue and Forecast (2016-2027)

Chapter 9. Global Wellness Tourism Market, By Travel Type

9.1. Wellness Tourism Market, by Travel Type, 2020-2027

9.1.1. Domestic

9.1.1.1. Market Revenue and Forecast (2016-2027)

9.1.2. International

9.1.2.1. Market Revenue and Forecast (2016-2027)

Chapter 10. Global Wellness Tourism Market, Regional Estimates and Trend Forecast

10.1. North America

10.1.1. Market Revenue and Forecast, by Service (2016-2027)

10.1.2. Market Revenue and Forecast, by Travel Purpose (2016-2027)

10.1.3. Market Revenue and Forecast, by Travel Type (2016-2027)

10.1.4. U.S.

10.1.4.1. Market Revenue and Forecast, by Service (2016-2027)

10.1.4.2. Market Revenue and Forecast, by Travel Purpose (2016-2027)

10.1.4.3. Market Revenue and Forecast, by Travel Type (2016-2027)

10.1.5. Rest of North America

10.1.5.1. Market Revenue and Forecast, by Service (2016-2027)

10.1.5.2. Market Revenue and Forecast, by Travel Purpose (2016-2027)

10.1.5.3. Market Revenue and Forecast, by Travel Type (2016-2027)

10.2. Europe

10.2.1. Market Revenue and Forecast, by Service (2016-2027)

10.2.2. Market Revenue and Forecast, by Travel Purpose (2016-2027)

10.2.3. Market Revenue and Forecast, by Travel Type (2016-2027)

10.2.4. UK

10.2.4.1. Market Revenue and Forecast, by Service (2016-2027)

10.2.4.2. Market Revenue and Forecast, by Travel Purpose (2016-2027)

10.2.4.3. Market Revenue and Forecast, by Travel Type (2016-2027)

10.2.5. Germany

10.2.5.1. Market Revenue and Forecast, by Service (2016-2027)

10.2.5.2. Market Revenue and Forecast, by Travel Purpose (2016-2027)

10.2.5.3. Market Revenue and Forecast, by Travel Type (2016-2027)

10.2.6. France

10.2.6.1. Market Revenue and Forecast, by Service (2016-2027)

10.2.6.2. Market Revenue and Forecast, by Travel Purpose (2016-2027)

10.2.6.3. Market Revenue and Forecast, by Travel Type (2016-2027)

10.2.7. Rest of Europe

10.2.7.1. Market Revenue and Forecast, by Service (2016-2027)

10.2.7.2. Market Revenue and Forecast, by Travel Purpose (2016-2027)

10.2.7.3. Market Revenue and Forecast, by Travel Type (2016-2027)

10.3. APAC

10.3.1. Market Revenue and Forecast, by Service (2016-2027)

10.3.2. Market Revenue and Forecast, by Travel Purpose (2016-2027)

10.3.3. Market Revenue and Forecast, by Travel Type (2016-2027)

10.3.4. India

10.3.4.1. Market Revenue and Forecast, by Service (2016-2027)

10.3.4.2. Market Revenue and Forecast, by Travel Purpose (2016-2027)

10.3.4.3. Market Revenue and Forecast, by Travel Type (2016-2027)

10.3.5. China

10.3.5.1. Market Revenue and Forecast, by Service (2016-2027)

10.3.5.2. Market Revenue and Forecast, by Travel Purpose (2016-2027)

10.3.5.3. Market Revenue and Forecast, by Travel Type (2016-2027)

10.3.6. Japan

10.3.6.1. Market Revenue and Forecast, by Service (2016-2027)

10.3.6.2. Market Revenue and Forecast, by Travel Purpose (2016-2027)

10.3.6.3. Market Revenue and Forecast, by Travel Type (2016-2027)

10.3.7. Rest of APAC

10.3.7.1. Market Revenue and Forecast, by Service (2016-2027)

10.3.7.2. Market Revenue and Forecast, by Travel Purpose (2016-2027)

10.3.7.3. Market Revenue and Forecast, by Travel Type (2016-2027)

10.4. MEA

10.4.1. Market Revenue and Forecast, by Service (2016-2027)

10.4.2. Market Revenue and Forecast, by Travel Purpose (2016-2027)

10.4.3. Market Revenue and Forecast, by Travel Type (2016-2027)

10.4.4. GCC

10.4.4.1. Market Revenue and Forecast, by Service (2016-2027)

10.4.4.2. Market Revenue and Forecast, by Travel Purpose (2016-2027)

10.4.4.3. Market Revenue and Forecast, by Travel Type (2016-2027)

10.4.5. North Africa

10.4.5.1. Market Revenue and Forecast, by Service (2016-2027)

10.4.5.2. Market Revenue and Forecast, by Travel Purpose (2016-2027)

10.4.5.3. Market Revenue and Forecast, by Travel Type (2016-2027)

10.4.6. South Africa

10.4.6.1. Market Revenue and Forecast, by Service (2016-2027)

10.4.6.2. Market Revenue and Forecast, by Travel Purpose (2016-2027)

10.4.6.3. Market Revenue and Forecast, by Travel Type (2016-2027)

10.4.7. Rest of MEA

10.4.7.1. Market Revenue and Forecast, by Service (2016-2027)

10.4.7.2. Market Revenue and Forecast, by Travel Purpose (2016-2027)

10.4.7.3. Market Revenue and Forecast, by Travel Type (2016-2027)

10.5. Latin America

10.5.1. Market Revenue and Forecast, by Service (2016-2027)

10.5.2. Market Revenue and Forecast, by Travel Purpose (2016-2027)

10.5.3. Market Revenue and Forecast, by Travel Type (2016-2027)

10.5.4. Brazil

10.5.4.1. Market Revenue and Forecast, by Service (2016-2027)

10.5.4.2. Market Revenue and Forecast, by Travel Purpose (2016-2027)

10.5.4.3. Market Revenue and Forecast, by Travel Type (2016-2027)

10.5.5. Rest of LATAM

10.5.5.1. Market Revenue and Forecast, by Service (2016-2027)

10.5.5.2. Market Revenue and Forecast, by Travel Purpose (2016-2027)

10.5.5.3. Market Revenue and Forecast, by Travel Type (2016-2027)

Chapter 11. Company Profiles

11.1. Accor Hotels

11.1.1. Company Overview

11.1.2. Product Offerings

11.1.3. Financial Performance

11.1.4. Recent Initiatives

11.2. Hilton Worldwide

11.2.1. Company Overview

11.2.2. Product Offerings

11.2.3. Financial Performance

11.2.4. Recent Initiatives

11.3. Hyatt Hotels

11.3.1. Company Overview

11.3.2. Product Offerings

11.3.3. Financial Performance

11.3.4. Recent Initiatives

11.4. InterContinental Group

11.4.1. Company Overview

11.4.2. Product Offerings

11.4.3. Financial Performance

11.4.4. Recent Initiatives

11.5. Marriot International

11.5.1. Company Overview

11.5.2. Product Offerings

11.5.3. Financial Performance

11.5.4. Recent Initiatives

11.6. Radisson Hospitality

11.6.1. Company Overview

11.6.2. Product Offerings

11.6.3. Financial Performance

11.6.4. Recent Initiatives

11.7. Rosewood Hotels

11.7.1. Company Overview

11.7.2. Product Offerings

11.7.3. Financial Performance

11.7.4. 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

The Wellness Tourism market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Wellness Tourism market for the base year 2020 and the forecast between 2021 and 2028. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Wellness Tourism market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Wellness Tourism market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Wellness Tourism market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Wellness Tourism capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Wellness Tourism by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Wellness Tourism market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2028. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Wellness Tourism market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Wellness Tourism market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Wellness Tourism industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

The Wellness Tourism market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Wellness Tourism market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Wellness Tourism market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Wellness Tourism market. These factors have benefited the growth of the global market for Wellness Tourism. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Wellness Tourism. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

• To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2028);
• Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
• Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
• To define, describe and forecast the market by type, application and region.
• To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
• To identify significant trends and factors driving or inhibiting the market growth.
• To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
• To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
• To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market

• To strategically profile the key players and comprehensively analyze their growth strategies.
  

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