Global Corporate Wellness Market

Global Corporate Wellness Market Size, Share, Growth Analysis, By Service Type(Nutrition, Weight Management), By End User(Private Sector, Small Scale Organizations), By Category(Fitness, Nutrition Consultants) - Industry Forecast 2023-2030


Report ID: SQMIG35G2232 | Region: Global | Published Date: February, 2024
Pages: 165 | Tables: 103 | Figures: 76

Global Corporate Wellness Market Insights

Global Corporate Wellness Market size was valued at USD 52.78 billion in 2021 and is poised to grow from USD 55.1 billion in 2022 to USD 74.9 billion by 2030, growing at a CAGR of 4.47% in the forecast period (2023-2030).

Numerous companies and firms across numerous industry sectors have begun adopting health programmes for their staff, which will further increase demand. Workplace wellness initiatives assist businesses in increasing productivity while lowering overall operating expenses. The market for corporate wellness is anticipated to grow as people become more conscious of the importance of employee health and happiness.

Programs that target various risk factors and conditions and have an impact on both employees and the entire firm make up corporate wellness initiatives. The National Center for Chronic Disease Prevention and Health Promotion (NCCDPHP) asserts that corporate wellness and health promotion initiatives and the provision of disease prevention plans have the potential to significantly lower healthcare costs by influencing more than 150 million American workers.

In the upcoming years, it is anticipated that the overall expenditures associated with lost productivity owing to illness-related absenteeism will surpass USD 150 billion. Increased insurance expenses as a result of the growing number of obese and overweight people place a financial burden on companies.
 Market Segmental Analysis

US Corporate Wellness Market is poised to grow at a sustainable CAGR for the next forecast year.

Market snapshot - 2023-2030

Global Market Size

USD 52.78 billion

Largest Segment

large scale organizations

Fastest Growth

large scale organizations

Growth Rate

4.47% CAGR

Global Corporate Wellness Market ($ Bn)
Country Share for North America Region (%)
Global Corporate Wellness Market By Deployment ($ Bn)
Global Corporate Wellness Market By Deployment (%)

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Global Corporate Wellness Market Segmental Analysis

The global corporate wellness market is segmented based on service type, end user, category and region. Based on service type the market is segmented into nutrition and weight management, fitness services, health risk assessment corporate wellness, stress management, smoking cessation, health screening, alcohol and drug abuse services, health education services, biometric screening, others. Based on category, the market is segmented into: fitness and nutrition consultants, psychological therapists and Organizations. Based on end user,  the market is divided into private sector, small scale organizations, medium scale organizations, large scale organizations, public sector, NGO. Based on region the market is categorized into: North America, Europe, Asia-Pacific, South America, and MEA.

Corporate Wellness Market Analysis by Service Type

In 2022, the health risk assessment sector held a dominant 28% sales share in the corporate wellness industry. The key components of corporate wellness programmes are screening activities to detect health concerns and the implementation of suitable interventional measures to encourage employees to live healthy lifestyles.
The cornerstones of corporate wellness programmes are attempts to screen for health issues and the application of suitable interventional strategies to encourage a healthy lifestyle among employees. About 80% of businesses that offer corporate wellness services decide to look at the health concerns posed by their employees. The health risk assessment segment has the biggest market share by service offering in the market for corporate wellness solutions. A significant amount of this market is driven by the usefulness of this service for the early detection and mitigation of health risks in employees, as well as reduced absence due to health concerns and decreased healthcare expenditures.

In the health risk assessment phase of corporate wellness programmes, screening activities are used to detect risks and appropriate interventional measures are used to promote a healthy lifestyle among employees. Nearly 80% of firms offer their staff members health risk assessment programmes and other well-being services. The workplace culture has radically altered in the modern period, which puts employees' health at risk because they spend so much time sitting at their desks. Additionally, the employees' daily lives are impacted by their eating habits and the rising pollution levels. As a result, these wellness initiatives have a big impact on changing people's lifestyles for the better.

Additionally, the market for stress management is expanding at the quickest CAGR of 7.9% over the course of the forecast period due to employees' rising levels of everyday life stress and work-related stress. Employees who participate in these stress management programmes are better able to balance their personal and professional lives. Since a healthy body and mind go hand in hand, stress-relieving techniques or management skills are crucial for the proper and efficient operation of the brain.

Corporate Wellness Market Analysis by End User

The end-use segment was dominated by large enterprises, and had the largest revenue share 57% in 2022. The infrastructure of larger organisations might include programmes and services. Smaller businesses can profit from corporate memberships and service outsourcing.

Corporate wellness programme implementation aids in tracking various ailments. Regular health screening programmes are undertaken to monitor health, encourage preventative care, and lower treatment costs. Corporate wellness initiatives that concentrate on these illnesses can lower the prevalence of disease and the overall cost of healthcare premiums that the firm pays to any insurance company. Despite the fact that many workers have switched to work from home arrangements as a result of lockdown and office closures, it is nevertheless critical to make sure that workers can access and utilise wellness services at the workplace. The small-scale organisation is anticipated to expand at the highest CAGR during the projection period. These firms are utilising corporate wellness offerings more frequently thanks to convenient payment options and increased accessibility for tiny businesses.

Global Corporate Wellness Market By Deployment, 2021 (%)

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Global Corporate Wellness Market Regional Insights

In 2022, North America held the greatest revenue share of more than 49% and dominated the corporate wellness industry. This is the largest percentage of employees since the incidence of mental health issues and chronic conditions is rising. The main forces behind health and well-being efforts in the United States include the need to handle workplace stressors such long work hours, work-life balance, greater workplace competitiveness, and others.

Some of the factors influencing the growth of the corporate wellness market in North America include the development of technology in the healthcare sector, an increase in the prevalence of chronic diseases, and an ageing population. The corporate wellness industry is expanding in North America as a result of rising consumer awareness of these services and rising healthcare spending. The market is also being driven by improvements in healthcare services at corporate settings.

However, Asia Pacific experiences burgeoning growth at a CAGR of 8% throughout the projection period due to a significant increase in the working population as well as rising awareness regarding employee health management. In the upcoming years, the wellness sector has a better possibility of expanding due to a large workforce and a growing economy. Due to the market's growing popularity in the area and its benefits for workers, other businesses have started to invest in it. There is tremendous room for increased acceptance in the area, which would fuel market expansion.

As a result of numerous government efforts that support the growth of human resources, the Asia-Pacific Corporate Wellness market is anticipated to expand rapidly throughout the time of forecasting. Additionally, the rise in chronic illnesses including cancer and stress disorders is fueling the market's expansion. Additionally, the market will benefit from the ageing working-class population in the Asia-Pacific where businesses are investing heavily in healthcare infrastructure and presenting a significant potential to address the region's unmet corporate wellness demands.

Global Corporate Wellness Market By Region, 2023-2030
  • Largest
  • Fastest

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Global Corporate Wellness Market Dynamics

Corporate Wellness Market Driver

Growing Prevalence of Lifestyle Diseases to Influence Market Growth

  • The rise in the prevalence of lifestyle diseases, improvements in the healthcare industry, and an increase in employee knowledge of such wellness programmes globally are the main factors driving the worldwide corporate wellness market.
  • There is a readiness to invest in such initiatives at workplaces as a result of the fast-rising rates of heart-related disorders among business personnel. The main causes of death globally include also cancer, diabetes, high blood pressure, and respiratory illnesses.
  • Potential growth prospects for market competitors are being created by the rising demand for corporate wellness services in many firms. Market participants are delivering extremely effective and affordable corporate wellness programmes at businesses to improve employees' overall well-being.
  • To withstand in Business with growing competition all around employees have to devote longer working hours which demands a healthy and longer life expectancy for them. In order to maintain the efficiency and well-being of the employees, the organisation opts for various wellness programs and policies which ultimately bolster the market.
  • With the extreme workaholic environment, employees in the firms tend to take stress that can lead to depression and anxiety. The lesser management of life is another cause of this situation. These issues have created the need for behavioral and mental health management of the employees which resulted in demand for wellness programs

Corporate Wellness Market Restraint 

Upfront Costs and Frequent Follow-ups to Result in Gradual Growth of the Market

  • The numerous health and wellness programmes are extremely expensive as a result of the occupational health policies. Sometimes businesses open gyms that demand frequent equipment upkeep and costly salaries for specialists and trainers, raising the organization's operating costs. The result is an increase in the organization's overall costs, namely the high workplace costs that are the main barrier to the market expansion of corporate wellness programmes.
  • Numerous studies have found that the main cause of many employees' ignorance about their company's health programmes is a communication gap. Even if they are aware that such programmes are offered at their place of business, many are uninformed of the advantages or other factors, and as a result, have little interest in taking part in them. While some workers can lack the motivation to make positive changes, others might just be resistant to change.

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Global Corporate Wellness Market Competitive Landscape

The existence of several international players defines the global market. To increase their market share, businesses use a variety of techniques, including partnerships, agreements, regional growth, mergers, acquisitions, and new product creation. 

Top Players in the Global Corporate Wellness Market 

  • Virgin Pulse
  • Wellness Corporate Solutions
  • ComPsych Corporation
  • Provant Health Solutions
  • Optum, Inc.
  • EXOS
  • Vitality Group
  • Marino Wellness
  • Truworth Wellness
  • Sodexo
  • Wellness Layers
  • TotalWellness Health
  • Cerner Corporation
  • Premise Health
  • Kinema Fitness
  • Fitbit, Inc.
  • CoreHealth Technologies
  • Limeade
  • LifeDojo
  • RedBrick Health

Corporate Wellness Market Recent Developments

  • In July 2022, Ashok Soota, a seasoned businessman, has unveiled Happiest Health, a worldwide health and wellness knowledge company that seeks to offer in-depth health and wellness knowledge. Happiest Health also publicly launched its website.
  • In June 2022, Visa, a pioneer in digital payments, and employee health insurance platform Plum have teamed up to offer health insurance to MSME cardholders. With monthly plans starting at Rs. 129, small business owners who also own Visa business cards are eligible to receive health insurance coverage, medical visits, and a "host of additional wellness advantages" through this association.
  • In February 2022, FitOn  expanded its reach in wellness by acquiring Tampa-based corporate wellness platform Peerfit.

Global Corporate Wellness Key Market Trends

  • Post-pandemic changes: During the course of pandemic, several organizations implemented wellness policies to encourage the employees. Different wellness policies have been developed by various businesses to help them fight this war collectively and operate effectively without sacrificing quality. However, during the early stages of the pandemic the businesses faced a number of difficulties and needed some time to adjust to the new environment. Additionally, the work-from-home model necessitated several wellness plans and programmes, which increased the overall cost. Overall, COVID-19 has boosted the market for corporate wellness not only for the allotted time period but also for years to come, and the businesses now require it in order to reduce absence and maintain a positive workplace culture.
  • Emergence of AI: The rising trend of AI in the market has escalated. The industry is drastically changing with the involvement of major players in AI that allowed the arrival of a new age of personalized education and solutions that cater to each employee's individualized well-being.

Global Corporate Wellness Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.

The key components of corporate wellness programmes are screening activities to detect health concerns and the implementation of suitable interventional measures to encourage employees to live healthy lifestyles. According to our analysis, by end user, the large-scale organizations held more than 56% of the distribution market in 2022 of the global revenue share. The infrastructure of larger organisations might include programmes and services. Smaller businesses can profit from corporate memberships and service outsourcing. Region-wise, the North America dominated the market by more than 48%, followed by Aisa Pacific.

Report Metric Details
Market size value in 2021 USD 52.78 billion
Market size value in 2030 USD 74.9 billion
Growth Rate 4.47%
Base year 2021
Forecast period 2023-2030
Forecast Unit (Value) USD Billion
Segments covered
  • Service Type
    • Nutrition, Weight Management, Fitness Services, Health Risk Assessment Corporate Wellness, Stress Management, Smoking Cessation, Health Screening, Alcohol, Drug Abuse Services, Health Education Services, Biometric Screening, Others
  • End User
    • Private Sector, Small Scale Organizations, Medium Scale Organizations, Large Scale Organizations, Public Sector, NGO
  • Category
    • Fitness, Nutrition Consultants, Psychological Therapists, Organizations
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Virgin Pulse
  • Wellness Corporate Solutions
  • ComPsych Corporation
  • Provant Health Solutions
  • Optum, Inc.
  • EXOS
  • Vitality Group
  • Marino Wellness
  • Truworth Wellness
  • Sodexo
  • Wellness Layers
  • TotalWellness Health
  • Cerner Corporation
  • Premise Health
  • Kinema Fitness
  • Fitbit, Inc.
  • CoreHealth Technologies
  • Limeade
  • LifeDojo
  • RedBrick Health
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Global Corporate Wellness Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Global Corporate Wellness Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Global Corporate Wellness Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Corporate Wellness Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Corporate Wellness Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Global Corporate Wellness Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Global Corporate Wellness Market size was valued at USD 52.78 billion in 2021 and is poised to grow from USD 55.1 billion in 2022 to USD 74.9 billion by 2030, growing at a CAGR of 4.47% in the forecast period (2023-2030).

The existence of several international players defines the global market. To increase their market share, businesses use a variety of techniques, including partnerships, agreements, regional growth, mergers, acquisitions, and new product creation.  'Virgin Pulse', 'Wellness Corporate Solutions', 'ComPsych Corporation', 'Provant Health Solutions', 'Optum, Inc.', 'EXOS', 'Vitality Group', 'Marino Wellness', 'Truworth Wellness', 'Sodexo', 'Wellness Layers', 'TotalWellness Health', 'Cerner Corporation', 'Premise Health', 'Kinema Fitness', 'Fitbit, Inc.', 'CoreHealth Technologies', 'Limeade', 'LifeDojo', 'RedBrick Health'

The rise in the prevalence of lifestyle diseases, improvements in the healthcare industry, and an increase in employee knowledge of such wellness programmes globally are the main factors driving the worldwide corporate wellness market.

Post-pandemic changes: During the course of pandemic, several organizations implemented wellness policies to encourage the employees. Different wellness policies have been developed by various businesses to help them fight this war collectively and operate effectively without sacrificing quality. However, during the early stages of the pandemic the businesses faced a number of difficulties and needed some time to adjust to the new environment. Additionally, the work-from-home model necessitated several wellness plans and programmes, which increased the overall cost. Overall, COVID-19 has boosted the market for corporate wellness not only for the allotted time period but also for years to come, and the businesses now require it in order to reduce absence and maintain a positive workplace culture.

In 2022, North America held the greatest revenue share of more than 49% and dominated the corporate wellness industry. This is the largest percentage of employees since the incidence of mental health issues and chronic conditions is rising. The main forces behind health and well-being efforts in the United States include the need to handle workplace stressors such long work hours, work-life balance, greater workplace competitiveness, and others.

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