As per the experts, the health and wellness market is predicted to record a growth rate of 5.5% from 2021-2030 and is projected to reach US$ 7,656.7 billion by 2030.
The study provides the overall revenue of the global health and wellness market from 2017 to 2030, considering 2020 as the base year and 2030 as the forecast year.
The global health and wellness market research report gives a brief summary of definitions, size analysis, and place of production, sales, applications, types, and major players/key vendors of the health and wellness industry. The report presents fresh perspectives on opportunities and challenges in a significantly transformed post-COVID-19 marketplace. This research study also integrates Industry Chain analysis and Porter’s Five Forces Analysis. Further, this report offers a competitive scenario that comprises collaborations, market concentration rate and expansions, mergers & acquisitions undertaken by companies.
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The rising prevalence of chronic diseases among the global population is the key driver of the global health and wellness market. The sedentary and hectic schedules of the consumers had resulted in the prevalence of stress, depression, anxiety, cancer, diabetes, and various other health related issues. Moreover, the lack of proper diet has resulted in the reduced intake of essential nutrients and minerals required for the healthy and active functioning of human body. According to the World Health Organization, around 20% of the men and 16.7% of the women are diagnosed with cancer at least once in their lifetime, globally. Further, cardiovascular diseases results in around 18 million deaths across the globe annually. Therefore, rapidly rising prevalence of chronic diseases are the major drivers of the global health and wellness market.
The integration of various latest technologies such as AR, VR, IoT, and blockchain are the various factors that are expected to provide lucrative growth opportunities to the market players across the globe. Constant research and development had resulted in the adoption of smart technologies and innovative ways in the manufacturing of various health and wellness products. The rapidly growing biopharmaceutical industry is boosting the medicine industry globally. The development of various life-saving drugs and development of biologics have provided the treatment for deadly diseases like cancer and tumor.
The high costs of various health and wellness products such as functional food & beverages, nutritional supplements, preventive medicines, and personalized medicines may hamper the growth of the market especially in the underdeveloped and developing countries where the population of middle and lower income group is extremely high. Moreover, lack of awareness regarding several innovative health and wellness products such as personalized medicines, wellness tourism, and several other products and services may hamper the growth of the market during the forecast period.
By sector, the personal & beauty & anti-aging segment dominated the global health and wellness market in 2020, garnering a market share of around 24%. The rising youth population in the underdeveloped and developing regions of Africa and Asia Pacific is the major factor that is expected to boost the growth of this segment during the forecast period. The increased penetration of social media platforms plays a huge role in influencing the youth. Therefore, all the major market players are investing heavily to establish their online or digital presence. The recent outbreak of the COVID-19 pandemic has necessitated the adoption of digital technologies to remain competitive in the market.
On the other hand, the wellness tourism sector is expected to be the fastest-growing segment during the forecast period. This is attributed to the increasing awareness regarding the wellness tourism among the population. The overall growth of the wellness tourism is attributed to the government and private investments to develop infrastructure in the country to attract tourism. Tourism is one of the major contributors to the GDP of major economies.
North America is the global leader in the health and wellness market. This is attributed to the increased consumer spending on the health and wellness products and services in the region. Further, the higher adoption rate of advanced and innovative technologies in North America has significantly boosted the growth of the health and wellness market in the past few years. North America is characterized by the presence of various top manufacturers of pharmaceuticals, beauty and personal care products, and nutritional supplements that crucially contributes towards the development of the health and wellness market in the region.
Asia Pacific is estimated to be the most opportunistic market during the forecast period. The region is providing lucrative opportunities to the market players owing to the availability of cheap factors of production and favorable governmental policies that attracts foreign direct investments. Countries like China and India are becoming the manufacturing hub of the world as these countries are characterized by the presence of the manufacturing units of almost all the top players operating in the health and wellness market. Moreover, the presence of huge youth population, rapid urbanization, and rapid industrialization are the various factors that are expected to drive the demand for the beauty and personal care products, nutritional supplements, physical activities, and various other wellness and health products, during the forecast period.
Various developmental strategies adopted by the market players such as partnerships, agreements, new product launches, mergers, and acquisitions contribute exponentially towards the market growth. For instance, in June 2021, Unilever entered into a partnership agreement with the food-tech company, ENOUGH to produce plant-based meat products in the market. Further, in June 2020, L’Oreal acquired Thayers Natural Remedies, a US based skincare brand, to integrate it into L’Oreal’s Consumer Products Division.
Scope of the Health and Wellness Market
|Market Size in 2020||US$ 4,436.1|
|Growth Rate From 2021 to 2030||CAGR of 5.5%|
|Fastest Growing Market||Asia Pacific|
|Largest Market||North America|
|Forecast Period||2021 to 2030|
|Companies Mentioned||Amway Corp., Unilever Plc, Danone, David Lloyd Leisure Ltd., Fitness First, Herbalife Nutrition Ltd., Holland & Barrett Retail Limited, Bayer AG, L’Oréal SA, Nestlé SA, Procter & Gamble, Vitabiotics Ltd.|
Top Players Contending in the Market:
The key companies are aiming towards advanced innovations and are predictable to dominate the target market. Foremost players inspiring in the global health and wellness market are as follows:
- Amway Corp.
- Bayer AG
- David Lloyd Leisure Ltd.
- Fitness First
- Herbalife Nutrition Ltd.
- Holland & Barrett Retail Limited
- L’Oréal SA
- Nestlé SA
- Procter & Gamble
- Unilever Plc
- Vitabiotics Ltd.
Segments Covered in the Report
- Personal Care & Beauty & Anti-Aging
- Nutrition & Weight Loss
- Physical Activity
- Wellness Tourism
- Preventive & Personalized Medicine
- Spa Economy
- North America
- Asia Pacific
- South Korea
- Rest of the World
Some of the key highlights of the report are:
- Market Demand Outlook – The report offers refined forecasts on potential growth prospects for the market. Based on data derived after thorough research by a team of expert analysis, Precedence Research presents the most precise rate of growth for the market for the assessment period starting from 2021 – 2030.
- Supply Chain Analysis – The purpose of the survey is to help companies identify potential scope for supply chain expansion. The study also presents analysis of unprecedented threats.
- Competitive Landscape Analysis – Some of the leading companies operating in the health and wellness market are profiled in the market study. The report also underscores winning strategies adopted over the last few years and gauges impact of the same on growth trajectory exhibited by the market over the last few years.
Why should you invest in this report?
If you are aiming to enter the global health and wellness market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for health and wellness are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2021-2030 so that you can plan your strategies to enter this market accordingly.
Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.
TABLE OF CONTENT
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
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
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Health and Wellness Market
5.1. COVID-19 Landscape: Health and Wellness Industry Impact
5.2. COVID 19 – Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
18.104.22.168. List of Suppliers
22.214.171.124. List of Buyers
Chapter 8. Global Health and Wellness Market, By Sector
8.1. Health and Wellness Market, by Sector Type, 2020-2027
8.1.1. Personal Care & Beauty & Anti-Aging
126.96.36.199. Market Revenue and Forecast (2016-2027)
8.1.2. Nutrition & Weight Loss
188.8.131.52. Market Revenue and Forecast (2016-2027)
8.1.3. Physical Activity
184.108.40.206. Market Revenue and Forecast (2016-2027)
8.1.4. Wellness Tourism
220.127.116.11. Market Revenue and Forecast (2016-2027)
8.1.5. Preventive & Personalized Medicine
18.104.22.168. Market Revenue and Forecast (2016-2027)
8.1.6. Spa Economy
22.214.171.124. Market Revenue and Forecast (2016-2027)
126.96.36.199. Market Revenue and Forecast (2016-2027)
Chapter 9. Global Health and Wellness Market, Regional Estimates and Trend Forecast
9.1. North America
9.1.1. Market Revenue and Forecast, by Sector (2016-2027)
9.1.3. Rest of North America
188.8.131.52. Market Revenue and Forecast, by Sector (2016-2027)
9.2.1. Market Revenue and Forecast, by Sector (2016-2027)
184.108.40.206. Market Revenue and Forecast, by Sector (2016-2027)
220.127.116.11. Market Revenue and Forecast, by Sector (2016-2027)
9.2.4. Rest of Europe
18.104.22.168. Market Revenue and Forecast, by Sector (2016-2027)
9.3.1. Market Revenue and Forecast, by Sector (2016-2027)
22.214.171.124. Market Revenue and Forecast, by Sector (2016-2027)
126.96.36.199. Market Revenue and Forecast, by Sector (2016-2027)
188.8.131.52. Market Revenue and Forecast, by Sector (2016-2027)
9.3.5. Rest of APAC
184.108.40.206. Market Revenue and Forecast, by Sector (2016-2027)
9.4.1. Market Revenue and Forecast, by Sector (2016-2027)
220.127.116.11. Market Revenue and Forecast, by Sector (2016-2027)
9.4.3. North Africa
18.104.22.168. Market Revenue and Forecast, by Sector (2016-2027)
9.4.4. South Africa
22.214.171.124. Market Revenue and Forecast, by Sector (2016-2027)
9.4.5. Rest of MEA
126.96.36.199. Market Revenue and Forecast, by Sector (2016-2027)
9.5. Latin America
9.5.1. Market Revenue and Forecast, by Sector (2016-2027)
188.8.131.52. Market Revenue and Forecast, by Sector (2016-2027)
9.5.3. Rest of LATAM
184.108.40.206. Market Revenue and Forecast, by Sector (2016-2027)
Chapter 10. Company Profiles
10.1. Amway Corp.
10.1.1. Company Overview
10.1.2. Product Offerings
10.1.3. Financial Performance
10.1.4. Recent Initiatives
10.2. Bayer AG
10.2.1. Company Overview
10.2.2. Product Offerings
10.2.3. Financial Performance
10.2.4. Recent Initiatives
10.3.1. Company Overview
10.3.2. Product Offerings
10.3.3. Financial Performance
10.3.4. Recent Initiatives
10.4. David Lloyd Leisure Ltd.
10.4.1. Company Overview
10.4.2. Product Offerings
10.4.3. Financial Performance
10.4.4. Recent Initiatives
10.5. Fitness First
10.5.1. Company Overview
10.5.2. Product Offerings
10.5.3. Financial Performance
10.5.4. Recent Initiatives
10.6. Herbalife Nutrition Ltd.
10.6.1. Company Overview
10.6.2. Product Offerings
10.6.3. Financial Performance
10.6.4. Recent Initiatives
10.7. Holland & Barrett Retail Limited
10.7.1. Company Overview
10.7.2. Product Offerings
10.7.3. Financial Performance
10.7.4. Recent Initiatives
10.8. L’Oréal SA
10.8.1. Company Overview
10.8.2. Product Offerings
10.8.3. Financial Performance
10.8.4. Recent Initiatives
Chapter 11. Research Methodology
11.1. Primary Research
11.2. Secondary Research
Chapter 12. Appendix
12.1. About Us
12.2. Glossary of Terms
Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.
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