The global spa mass and mid-range furniture market was valued at USD 1,878.4 million in 2018 and is expected to reach USD 2,529.1 million by 2025 at a CAGR of 5.1%.
Fremont, United States - September 25, 2019 /MarketersMedia/ —
There is increase in availability of multifunctional products which is trending in the global spa furniture market. Major players in the market are offering multifunctional spa furniture products. Further, consumers are also opting for furniture that can be used for different requirements.
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However, higher initial and maintenance cost of luxury and high-end spa furniture. High-end luxury spa furniture is mostly expensive and unaffordable for the general population. Generally, spa furniture including pedicure or luxury chairs require high investment, as they are made of premium and high-quality raw materials.
Demand for spa mass and mid-range furniture from the developing economies such as Asia Pacific region is generating new opportunity to the market during the forecast period. Much of the growth in this region is driven by demand from enthusiastic wellness travellers. Whether primary or secondary, wellness travellers seek a wide range of wellness experiences and options at their destination, while also expecting more personalization.
Key Findings:
Based on type, the massage chair segment dominated the market in 2018 and expected to witness similar trend in the coming years
Based on distribution channel, online distribution channel is expected to witness the fastest growth during the forecast period
Asia Pacific dominated the market in 2018. The region is also expected to witness the fastest growth during the forecast period. The Asia Pacific spa industry has grown steadily, driven by hotel and resort developments in popular destinations developments of businesses and chains meeting middle-income consumer needs.
Recent News:
In March 2018, Nilo the Spa Industry expands and inaugurates the new showroom in Scandiano, Italy
In May 2017, Oakwoks solutions launched STUDIO, an interactive visual online table designing solutions that gives clients complete flexibility when designing products
In April 2019, Earthlite LLC acquired U.S. based TARA Spa Therapy Inc., a manufacturer and online retailer of organic extracts, flower essences, therapeutic oils, herbal pillows, and heat packs
In September 2017, Earthlite LLC acquired U.S. based Continuum Footspas LLC.
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Source: MarketersMedia
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