Global Health and Wellness Market Overview:
The latest report by IMARC Group, titled “Health and Wellness Market Share: Global Market Trends, Size, Growth, Opportunity, and Forecast Till 2027,” finds that the global health and wellness market reached a value of US$ 3,294 Billion in 2021. Looking forward, IMARC Group expects the market value to reach US$ 4,277 Billion by 2027, expanding at a CAGR of 4.2% during 2022-2027.
Health and wellness refer to the state of complete physical, emotional and mental well-being of an individual. It is achieved by living a healthy lifestyle, practicing regular exercise, and avoiding or limiting the consumption of junk food. Some of the most crucial aspects of health and wellness are fitness, nutrition, personal care, weight management, and preventive medicines.
Over the years, health and wellness products have gained widespread popularity across the globe owing to the inflating income levels and rising health concerns among individuals.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviors of the consumers globally–our estimates about the latest market trends and forecast values after considering the impact of this pandemic. These observations will be integrated into the report.
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Global Health and Wellness Market Trends:
The market is primarily driven by the growing prevalence of lifestyle diseases such as diabetes, hypertension, asthma, arthritis, cancer, and other stress-related disorders among individuals due to sedentary lifestyles and hectic schedules.
As a result, people are extensively adopting various healthcare activities, including yoga, meditation, and athletics. Moreover, the growing trend of using the wearable devices, such as fitness bands and trackers, is also contributing to the market growth.
Besides this, the rapid growth of wellness tourism sector is escalating the demand for health and wellness products. Furthermore, the rising disposable incomes and the growing health-consciousness among consumers are anticipated to propel the market growth in the upcoming years.
Health and Wellness Market 2022-2027 and Key Market Segmentation:
The competitive landscape of the market has been examined with some of the key players include:
- Amway Corp.
- Bayer AG
- David Lloyd Leisure Ltd.
- Fitness First
- Herbalife Nutrition Ltd.
- Holland & Barrett Retail Limited
- L’Oréal SA
- Nestlé SA
- Procter & Gambl
- Vitabiotics Ltd. etc.
Breakup by Product Type:
- Functional Foods and Beverages
- Beauty and Personal Care Products
- Preventive and Personalized Medicinal Products
Based on the product type, the market has been segmented into functional foods and beverages, beauty and personal care products, preventive and personalized medicinal products, and others.
Breakup by Functionality:
- Nutrition & Weight Management
- Heart & Gut Health
- Bone Health
- Skin Health
On the basis of functionality, the market has been segregated into nutrition and weight management, heart and gut health, immunity, bone health, skin health, and others.
Breakup by Region
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
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