Health and Wellness Market Size to Grow by USD 1,661.81 Billion From 2022 to 2027: A Descriptive Analysis of Customer Landscape, Vendor Assessment, & Market Dynamics

NEW YORK, Nov. 28, 2022 /PRNewswire/ — Technavio categorizes the global health and wellness market as a part of the hotels, restaurants, and leisure market, the parent market. The hotels, restaurants, and leisure market covers companies engaged in operations such as hotels, restaurants, sports and fitness centers, stadiums, golf courses, and amusement parks. The global health and wellness market size is estimated to increase by USD 1,661.81 billion from 2022 to 2027. The market’s growth momentum will accelerate at a CAGR of 6.49%.

Technavio has announced its latest market research report titled Global Health and Wellness Market 2023-2027

Technavio has announced its latest market research report titled Global Health and Wellness Market 2023-2027

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Global Health and Wellness Market – Customer Landscape

To help companies evaluate and develop growth strategies, the report outlines –

Global Health and Wellness Market – Vendor Analysis

Vendor Landscape – The global health and wellness market is fragmented, with the presence of several small to large global and regional vendors. A few prominent vendors that offer health and wellness products are adidas AG, Amway Corp., Bayer AG, Beiersdorf AG, Core Health and Fitness LLC, Danone SA, David Lloyd Leisure Ltd., General Mills Inc., Glooko Inc., Herbalife International of America Inc, and others.

Vendors compete on price, quality, innovation, service, packaging, brand image, distribution, and promotion. They frequently launch new products, including products with natural ingredients, to stay ahead of their competitors. Social media has played a significant role in expanding the customer base of prominent vendors. Furthermore, the trend of a healthy lifestyle is likely to continue, which will encourage people to visit health and wellness centers and, in turn, drive the growth of the market for global health and wellness market.

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Global Health and Wellness Market – Segmentation Assessment

Geography Overview

By geography, the global health and wellness market is segmented into North America, Europe, APAC, South America, and the Middle East and Africa. The report provides actionable insights and an accurate estimation of the contribution of all regions to the growth of the global health and wellness market.

  • North America held 33% of the global health and wellness market in 2022. The market in the region is estimated to grow at the fastest pace during the forecast period. The growth of this region is attributed to factors such as new product launches in the packaged health and wellness food sector. For instance, in June 2021, Iovate Health Sciences International Inc., a nutritional supplement company, launched the Purely Inspired Superfoods product line.

Segment Overview

By product type, the global health and wellness market is segmented into beauty and personal care products, health and wellness food, wellness tourism, fitness equipment, and preventive and personalized health.

  • The market share growth of the beauty and personal care products segment will be higher than the other segments during the forecast period. The growth of this segment is fueled by factors such as the increasing number of online beauty and personal care online retail stores. This segment includes various categories such as cosmetics, personal care products such as shower gels, bathing soaps, skincare, haircare, deodorants, anti-aging skin creams, and other products.

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Global Health and Wellness Market – Market Dynamics

  • Impactful Driver – The increasing emphasis on the promotion of health and wellness activities and programs is driving market growth. Hence, many vendors are leveraging social media channels to market their products. Key vendors are using optimized data from data partners such as eXelate, Data Alliance Inc., Foursquare Labs Inc., Factual, and Adsquare for effective promotion and marketing campaigns aimed at specific consumer demographics. Therefore, the rising adoption of health and wellness products by all demographics is expected to positively impact the growth of the global health and wellness market during the forecast period.

  • Key Trend – The growing popularity of thermal and mineral springs and spas will be a key trend in the market. Various physical and mental conditions can be treated at thermal or mineral springs. In addition, major spa operators are focusing on using specialized therapeutic water to treat health conditions. This has increased the demand for spa services, which, in turn, will influence market growth.

  • Major Challenge – Frequent product recalls will challenge the global health and wellness market growth. Product recalls can hamper the reputation of vendors and increase operational and financial constraints. For instance, in August 2021, the US FDA issued a recall for Jimbo’s product called Jimbo’s Bloody Mary Mix, sold under the brand DBA New England Cupboard, due to the presence of undeclared ingredients. Such instances are expected to hinder the growth of the global health and wellness market during the forecast period.

Driver, Trend & Challenges are the factors of market dynamics, which state about consequences & sustainability of the businesses. Find few insights from a free sample report!

What are the key data covered in this health and wellness market report?

  • CAGR of the market during the forecast period

  • Detailed information on factors that will drive the growth of the health and wellness market between 2023 and 2027

  • Precise estimation of the size of the health and wellness market size and its contribution to the parent market

  • Accurate predictions about upcoming trends and changes in consumer behavior

  • Growth of the health and wellness market in APAC, North America, Europe, Middle East and Africa, and South America

  • Thorough analysis of the market’s competitive landscape and detailed information about vendors

  • Comprehensive analysis of factors that will challenge the growth of health and wellness market vendors

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Related Reports:

  • The wellness tourism market is estimated to grow at a CAGR of 7.55 % from 2021 to 2026. The size of the market is forecasted to increase by USD 327.56 billion. The market is segmented by application (physical, psychological, and spiritual), type (domestic and international), and geography (North America, Europe, APAC, South America, and Middle East and Africa).

  • The fitness and recreational sports centers market size is estimated to grow by USD 106.64 billion from 2021 to 2026. The market is segmented by end-user (men and women) and geography (North America, APAC, Europe, Middle East and Africa, and South America).

Health and Wellness Market Scope

Report Coverage

Details

Page number

181

Base year

2022

Historic period

2017-2021

Forecast Period

2023 -2027

Growth momentum & CAGR

Accelerate at a CAGR of 6.49%

Market growth 2023-2027

USD 1,661.81 billion

Market structure

Fragmented

YoY growth (%)

6.18

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing contribution

North America at 33%

Key countries

US, Canada, China, Japan, Germany, and UK

Competitive landscape

Leading Companies, Market Positioning of Vendors, Competitive Strategies and Industry Risks

Key companies profiled

adidas AG, Amway Corp., Bayer AG, Beiersdorf AG, Core Health and Fitness LLC, Danone SA, David Lloyd Leisure Ltd., General Mills Inc., Glooko Inc., Herbalife International of America Inc, Johnson Health Tech Co. Ltd., LOreal SA, Nestle SA, Ogilvie and Co., PepsiCo Inc., RSG Group GmbH, Shiseido Co. Ltd., The Procter and Gamble Co., Unilever PLC, and Vitabiotics Ltd.

Market dynamics

Parent Market Analysis; Market growth inducers and obstacles; Fast-growing and slow-growing segment analysis for the forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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Table Of Contents:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Product Type

7 Market Segmentation by Distribution Channel

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

Global Health and Wellness Market 2023-2027

Global Health and Wellness Market 2023-2027

Cision

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