According to Precedence Research, the global health and wellness market size is forecasted to reach US$ 7,656.7 billion by 2030 from US$ 4,653.40 billion in 2021, by growing at a lucrative CAGR of 5.5% between 2021 and 2030.
The report contains 150+ pages with detailed analysis. The base year for the study has been considered 2021, the historic year 2017 to 2020, the forecast period considered is from 2021 to 2030. The report offers exclusive insights to help companies make informed decisions to sustain growth through the assessment period.
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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.
The report provides an understanding of the market composition and explains the role of established players and regional contributors. It is essential for the market players to make calculative moves and focus on client acquisition and retention. The detailed company profiles will provide the necessary intelligence to the reader. In order to maintain their share, the market players are focusing on strategies such as cross-border expansion, product differentiation and so on.
Some of the prominent players in the global health and wellness market are listed as below:
- 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.
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.
- Personal Care & Beauty & Anti-Aging
- Nutrition & Weight Loss
- Physical Activity
- Wellness Tourism
- Preventive & Personalized Medicine
- Spa Economy
– North America (U.S. and Canada)
– Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
– Asia-Pacific (China, Japan, India, Southeast Asia and Rest of APAC)
– Latin America (Brazil and Rest of Latin America)
– Middle East and Africa (GCC, North Africa, South Africa, Rest of MEA)
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
188.8.131.52. List of Suppliers
184.108.40.206. 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
220.127.116.11. Market Revenue and Forecast (2016-2027)
8.1.2. Nutrition & Weight Loss
18.104.22.168. Market Revenue and Forecast (2016-2027)
8.1.3. Physical Activity
22.214.171.124. Market Revenue and Forecast (2016-2027)
8.1.4. Wellness Tourism
126.96.36.199. Market Revenue and Forecast (2016-2027)
8.1.5. Preventive & Personalized Medicine
188.8.131.52. Market Revenue and Forecast (2016-2027)
8.1.6. Spa Economy
184.108.40.206. Market Revenue and Forecast (2016-2027)
220.127.116.11. 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
18.104.22.168. Market Revenue and Forecast, by Sector (2016-2027)
9.2.1. 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)
9.2.4. Rest of Europe
188.8.131.52. Market Revenue and Forecast, by Sector (2016-2027)
9.3.1. 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)
18.104.22.168. Market Revenue and Forecast, by Sector (2016-2027)
9.3.5. Rest of APAC
22.214.171.124. Market Revenue and Forecast, by Sector (2016-2027)
9.4.1. Market Revenue and Forecast, by Sector (2016-2027)
126.96.36.199. Market Revenue and Forecast, by Sector (2016-2027)
9.4.3. North Africa
188.8.131.52. Market Revenue and Forecast, by Sector (2016-2027)
9.4.4. South Africa
184.108.40.206. Market Revenue and Forecast, by Sector (2016-2027)
9.4.5. Rest of MEA
220.127.116.11. Market Revenue and Forecast, by Sector (2016-2027)
9.5. Latin America
9.5.1. Market Revenue and Forecast, by Sector (2016-2027)
18.104.22.168. Market Revenue and Forecast, by Sector (2016-2027)
9.5.3. Rest of LATAM
22.214.171.124. 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
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.
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