Thailand’s wellness boom raises concerns about oversupply

Thailand’s fast-growing wellness market is attracting more operators, but The Absolute Group warns that expansion could outpace sustainable demand.

The group’s founder and chief executive, Benjaporn Karonkasakul, said global interest in wellness had risen sharply over the past three years. Thailand’s fitness, wellness and longevity industries are expected to keep growing as more Thai consumers take an interest in exercise, regardless of age or spending power.

That growth has brought increased investment from local and international sources. Karonkasakul said investors often expect rapid expansion, creating pressure for operators to pursue overly aggressive strategies. An influx of new businesses could eventually trigger price competition, she said.

She predicted that boutique fitness and wellness segments, especially Pilates studios, are likely to consolidate within two to three years. From a consumer perspective, she said interest in post-exercise recovery is increasing, prompting The Absolute Group to introduce services including red-light therapy and cold plunges. Consumers are becoming more cautious with spending, she added, but are unlikely to stop spending on health-related services.

The company operates nine Absolute Boutique Fitness studios in Greater Bangkok, one franchise in Khon Kaen province and five Pilates Group locations. It plans to open at least one new Pilates studio this year and four or five locations in 2027. The group also plans to open a Beleafin Wellness Club at Dusit Central Park in Bangkok next February, with an investment of more than 100 million baht.

The club will offer performance training, recovery services, physical and mental rehabilitation after exercise, and medical wellness and longevity services focused on preventive healthcare and long-term well-being. The group is also gradually shifting its existing studios toward recovery-focused offerings under the name “Absolute Movement and Recovery.”

“

Consumers are becoming more cautious with their spending. However, they will definitely not cut back on spending related to their health.