Enjoy complimentary customisation on priority with our Enterprise License!
The Global Health and Wellness Market size is estimated to grow by USD 1,661.81 billion, accelerating at a CAGR of 6.49% between 2022 and 2027. The prevalence of chronic diseases, stress, and other health issues is contributing to the growth of the global market. Consumers are increasingly seeking organic, clean-labeled, sustainable, and eco-friendly health and wellness products, as they actively look for environmentally conscious options with clear labeling. As a result, there is a rising demand for such products. This market research and growth report also includes a thorough analysis of historical market data from 2017 to 2022.
Get Additional Information on this Report, Request Free Sample in PDF
The market is witnessing robust growth driven by several key factors. With the increasing adoption of wearable devices and a growing focus on health and wellness, particularly among women, the market is experiencing a surge in demand for beauty and anti-aging products. This trend is further bolstered by the expanding cosmetics industry and the rising awareness of health-conscious consumers. Additionally, the prevalence of sedentary lifestyles among the working population has propelled the demand for functional beverages and recreational activities like yoga and meditation, driving the growth of the health and wellness market worldwide.
The market is witnessing exponential growth, driven by increasing concerns over physical and mental diseases like cancer, depression, and anxiety. As people desire a healthier, more active lifestyle, the market for personal care products, wellness tourism, and fitness devices like fitness bands and wearable technology is flourishing. Chronic diseases such as asthma, diabetes, and arthritis are further propelling this trend. With a growing awareness of holistic well-being among diverse demographics, including women and the working population, the market for beauty, anti-aging products, and functional beverages is expanding. From yoga to meditation and recreational activities, the health and wellness industry is embracing various avenues to promote consumer consciousness and cater to evolving needs.
This market is experiencing growth due to the increasing prevalence of chronic diseases, stress, and other health issues. Chronic conditions like diabetes, multiple sclerosis, blood pressure, osteoporosis, and others are driving consumers to seek preventive measures within the global market. Additionally, rising stress levels prompt investments in fitness equipment, healthcare devices, and supplementary diets. This trend is expected to propel the market's growth as individuals prioritize proactive health management.
The burgeoning market for sustainable products is a significant trend shaping the industry's growth. There's a rising demand for organic, clean-labeled, sustainable, and eco-friendly products as consumers actively seek environmentally conscious options with clear labeling. Key global market players are prioritizing the introduction of new products, exemplified by EVOLVE's Supernola brand foods, which are filler-free and made from whole foods. This emphasis on whole organic products is one of the major consumer trends in the market.
The lack of cost transparency and value-based payments poses a significant challenge to market growth. Consumers are increasingly demanding transparency in pricing for products and services. Market vendors must avoid frequent price hikes to rebuild trust with health insurers, physicians, and consumers. Cost control emerges as a primary challenge for vendors aiming to expand their consumer base in the health and wellness industry.
Additionally, addressing pharmacy costs and navigating complex regulatory landscapes are additional hurdles faced by global health wellness market players. Overcoming these challenges becomes crucial for major market players to ensure sustained growth during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Market Customer Landscape
In the market, the product segment is characterized by offerings that address both physical and mental well-being, catering to the growing desire for a healthy and active lifestyle. Physical and mental diseases, including depression, asthma, arthritis, and blood pressure issues, underscore the need for comprehensive health solutions. These conditions drive demand for products that promote overall well-being and alleviate symptoms. In response to the sedentary lifestyle prevalent in modern society, there is an increasing focus on products that encourage physical activity and fitness. Fitness bands and wearable devices have gained popularity as tools for monitoring physical activity levels, providing real-time feedback, and motivating users to adopt healthier habits. Furthermore, mental health is receiving greater attention, with digital devices offering solutions to help manage stress, anxiety, and other mental disorders. These devices may include meditation apps, mood trackers, and virtual therapy platforms, providing accessible support for individuals seeking mental wellness. The women's population, in particular, is a key demographic in the market, driving demand for products tailored to their specific needs and preferences. From fitness trackers with menstrual cycle tracking features to mental wellness apps addressing unique stressors, products designed for women cater to their holistic health requirements.
Based on product type, the 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 by the beauty and personal care products segment will be significant during the forecast period. This segment includes subcategories such as cosmetics, personal care products such as shower gels, bathing soaps, skincare, haircare, deodorants, anti-aging skin creams, and other products.
By Product Type
Get a glance at the market contribution of various segments Request Free Sample
The beauty and personal care products segment shows a gradual increase in market share from USD 963.6 billion in 2017. The increasing number of online beauty and personal care online retail stores, such as Nykaa E-Retail Pvt. Ltd. (Nykaa) in India, fuels the growth of the global beauty and personal care market. L'Oreal SA (L'Oreal), Procter and Gamble Co. (Procter and Gamble), and Beiersdorf AG (Beiersdorf) are some of the major players operating in the global beauty and personal care market.
The health and wellness food segment holds the second-largest market under the Product category. This segment comprises a range of foods, including superfood-based packaged snacks, juices, nutrition bars, energy drinks, sports nutrition drinks, plant-based dairy-free food and beverages, protein-enriched foods, almonds, nuts, cashews, and vegan and gluten-free foods. The growth of this segment can be attributed to the rising demand for superfood-based packaged food and beverages worldwide. These contain organic ingredients such as blueberry, cranberry, chia, sesame, hemp, and avocado.
North America is estimated to contribute 33% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
Market Segmentation
By North America
For more insights on the market share of various regions Request Free Samples
This market has a huge presence in the North American region. The prevalence of chronic lifestyle diseases like diabetes, high blood pressure, asthma, arthritis, cancer, and dementia due to sedentary lifestyles, as well as other stress-related disorders, has increased significantly in the region. Additionally, trends such as "mindful snacking" have a positive impact on the market in North America.
In June 2021, Iovate Health Sciences International Inc., a nutritional supplement company, launched the Purely Inspired Superfoods product line. The product is focused on delivering high-quality, nutritious products with Superfood Capsules as part of its new superfood product line. The increasing number of new product launches in the packaged health and wellness food sector, and other categories will drive this market in North America.
The market is witnessing exponential growth driven by increasing consumer expenditure on health and wellness products and services worldwide. With rising concerns about physical diseases such as cancer and mental health issues like depression and anxiety, individuals are prioritizing their well-being. The surge in personal disposable income and growing awareness about health have led to significant government expenditure on enhancing healthcare infrastructure and promoting a healthy and active lifestyle. Demand for personal care products is escalating, especially as concerns about a sedentary lifestyle grow. Wellness tourism, involving activities like meditation, yoga, and recreational pursuits in natural settings like agricultural fields, is on the rise. The integration of digital devices is further driving the market, catering to diverse demographics, including the women population seeking beauty and anti-aging products and the cosmetics industry expanding its range of functional and healthy food products.
The market is witnessing a surge in demand due to increasing awareness about physical and mental diseases and a growing Desire for healthy and active lifestyle. Consumers are increasingly turning to fitness bands and wearable devices to monitor their physical activity and mental well-being. This trend is particularly pronounced among the working population, who seek functional beverages and other products to support their health goals. Moreover, there is a growing consumer consciousness among consumers about the importance of mental health, understanding mental disorders leading to increased interest in activities such as meditating and engaging in recreational activities. Overall, these factors contribute to the dynamic growth of the global health and wellness market. The market offers a range of options, from Synthetic and Natural ingredients to products like Hand sanitizers and Surgical scrubs. In addition, fitness centers and gyms promote physical activity and well-being, reflecting a holistic approach to healthcare and lifestyle management.
The market is experiencing a significant shift as consumers become increasingly conscious of their well-being amidst rising concerns about health hazards associated with processed meat consumption and unhealthy fast food chains. There's a growing emphasis on adopting healthy and functional food and beverages, along with regular exercise, to mitigate the risk of conditions like Type 2 diabetes, cardiovascular disease, and Alzheimer's. Furthermore, individuals are prioritizing muscle strength, joint stability, and falling prevention, leading to a surge in demand for products and services that promote range of motion and overall physical fitness. Additionally, skincare products, cosmeceuticals, and therapies offered at spas and thermal springs are gaining popularity, emphasizing the importance of personal hygiene and holistic wellness in today's fitness-oriented society.
This market growth analysis report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
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 2022-2023(%) |
6.18 |
Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
Performing market contribution |
North America at 33% |
Key countries |
US, Canada, China, Japan, Germany, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
adidas AG, Amway Corp., Bayer AG, Beiersdorf AG, Danone SA, David Lloyd Leisure Ltd., General Mills Inc., Glooko Inc., Herbalife International of America Inc, 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 trends, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market forecasting for 2023-2027 |
Customization purview |
If our market analysis and report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
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
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.