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MARKET OVERVIEW

1.1 Definition and scope of study

A thermal establishment can be defined as an establishment which makes use of water from mineral springs, as well as the sludge and gases derived from them, to treat the ailments or pathologies of patients. Since the prehistoric times, human beings made use of thermal waters for their anti-parasitic, therapeutic, and hygienic properties, as water was considered as the easier and more natural medicine available. The spa market can be segmented by service type (hotel/resort spa, salon spa, and medical spa), and geographical area.

The global spa market size was valued at $47.5 billion in 2020, and it is expected to expand at a CAGR of 12.1% during the period 2021-2028. 

The first thermal facilities were introduced in Italy by Etruscans and Romans, who established spas in places where it was possible to exploit natural sources of hot water or with special curative qualities. Over time, especially during the imperial age, thermal facilities spread even within cities, thanks to the development of advanced techniques for heating water. Right now, the spa industry in Italy is trying to recover form a period of inflection due to the coronavirus pandemic, which experienced an impressive slump in revenues and an increase in the number of dismissals of employees. However, there is still hope for this sector, as many foreign investors are arriving in Italy, ready to infuse their money in the development of such industry. 

In particular, foreign investors decide to finance the development of Italian spas as they are globally known for their extraordinary quality. With more than 320 thermal centers in operation, 90% of which accredited to the National Health Service, Italy has a huge heritage which combines the healing properties of its waters with the beauty and cultural offer of the territory. This is the reason why thermalism is considered a valuable aid in the prevention and treatment of many chronic diseases and helps to reduce the administration of drugs. In fact, thermal rehabilitation significantly reduces recovery times, even for athletes. The Italian thermal system welcomes and assists almost 3 million clients per year, 12% of whom are foreigners.

ANALYSIS OF THE DEMAND

MARKET STRUCTURE

ANALYSIS OF THE OFFER

REGULATION

POSITIONING OF THE ACTORS

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in 40 pages
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Analysts

Hugo S.

chargé d'études économiques, Xerfi

Hugo S.

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Mathieu Luinaud

Associate Consultant

Mathieu Luinaud

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Education Formation
Robin C.

PhD Industrial transformations

Robin C.

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Pierre D.

Analyst

Pierre D.

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Arnaud W.
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Ross Alumni Club France

Arnaud W.

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Amaury de Balincourt
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Analyste de marché chez Businesscoot

Amaury de Balincourt

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Pierrick C.

Consultant

Pierrick C.

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Maelle V.

Project Finance Analyst, Consulting

Maelle V.

Héloise Fruchard

Etudiante en Double-Diplôme Ingénieur-Manager Centrale

Héloise Fruchard

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Imane E.

EDHEC

Imane E.

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Vincent D.

Auditeur

Vincent D.

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Eva-Garance T.

Eva-Garance T.

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Michela G.

Market Research Analyst

Michela G.

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Azelie P.

Market Research Analyst @Businesscoot

Azelie P.

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Cantiane G.

Market Research Analyst @Businesscoot

Cantiane G.

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Jules D.

Consultant

Jules D.

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Alexia V.

Alexia V.

Emil Ohlsson

Emil Ohlsson

Anna O.

Anna O.

Gabriel S.

Gabriel S.