Corporate Wellness Market Size, Share, Growth Analysis, By Service(Health Risk Assessment, Fitness, Smoking Cessation, Health Screening), By End User(Small Scale Organizations, Medium Scale Organizations, Large Scale Organizations), By Category(Fitness & Nutrition Consultants, Psychological Therapists, Organizations/Employers), By Delivery Model(Onsite, Offsite), By Region - Industry Forecast 2024-2031


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

Corporate Wellness Market Insights

Global Corporate Wellness Market size was valued at USD 70.12 billion in 2022 and is poised to grow from USD 73.25 billion in 2023 to USD 103.94 billion by 2031, growing at a CAGR of 4.47% in the forecast period (2024-2031).

The corporate wellness market emphasizes improving employee health and overall wellness by offering programs to reduce healthcare costs, enhance productivity, and better job satisfaction. The market is witnessing considerably growth due to the growing awareness of employee wellness. The market is also projected to boost due to increasing focus on holistic approaches for better mental, emotional, and physical well-being. Nonetheless, the market is restrained by the lack of employee participation and engagement and significant upfront costs for launching and developing wellness programs. Yet, the market is expected to flourish owing to opportunistic factors like the growing demand for mental health support, integration of wearable technology, and personalization and customization.

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

Market snapshot - 2024-2031

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 (%)

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Corporate Wellness Market Segmental Analysis

Global Corporate Wellness Market is segmented on the basis of service, end user, category, delivery model, and region. By service, market is segmented into Health Risk Assessment, Fitness, Smoking Cessation, Health Screening, Nutrition & Weight Management, Stress Management, and Others. By end user, market is segmented into Small Scale Organizations, Medium Scale Organizations, and Large-Scale Organizations. By category, market is segmented into Fitness & Nutrition Consultants, Psychological Therapists, and Organizations/Employers. By delivery model, corporate wellness market is segmented into Onsite, and Offsite. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Corporate Wellness Market Analysis by Service 

Based on service, the corporate wellness market is categorized into health risk assessment, fitness, smoking cessation, health screening, nutrition & weight management, stress management, and others. The health risk assessment segment held a notable share of the market in the previous years and is expected to lead over the forecast period as well owing to better employee engagement and proactive health management offered. Health risk assessment enables businesses or companies to identify early health risks. This allows proactive measures to reduce healthcare costs and avoid chronic diseases. HRAs also motivate employees for participation by providing actionable health visions and personalized feedback. 

On the other hand, the stress management segment is projected to grow considerably over the forecast period owing to the growing awareness for mental health. Today, the awareness of mental health has increased dramatically, encouraging employers to highlight different stress management activities. Moreover, stress management comprises diverse services like workshops, mindfulness training, counselling that enable flexible adoption catering to different employee requirements. This service also has a major impact on productivity since companies are investing in stress management to decrease absenteeism and optimize productivity. 

Corporate Wellness Market Analysis by End User 

Based on end user, the market is segmented into small scale organizations, medium scale organizations, large scale organizations. The large scale organizations segment held a notable market share in the previous years and is expected to continue dominance over the forecast period as well owing to the presence of large resources and stringent compliance needs. Large businesses or organizations hold more human and financial resources to invest in exhaustive wellness activities. This enables diverse offerings to be used by large businesses. With the growing workforce, these companies can use economies of scale, impacting employee safety and health by offering better wellness programs. 

On the other hand, the small scale organizations segment will hold a notable market share in the forthcoming years owing to increased emphasis on employee wellness. Small organizations mostly adopt close-knit cultures that focus on the well-being of employees to boost productivity and morale. These organizations are increasingly adopting various cost-effective wellness events, comprising community resources and digital tools for better access to wellness. Small businesses are also identifying wellness importance to compete talent to distinguish themselves from large businesses. These factors are boosting segmental growth.

Global Corporate Wellness Market Size By End User

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Corporate Wellness Market Regional Insights

Geographically, North America dominated the market in the previous years and is expected to lead over the forecast period owing to the growing healthcare costs, early adoption of improved wellness programs, and diverse offerings. North America is the leading region that adopts wellness programs faster than others, which helps in offering best practices and establishes a strong infrastructure. Companies operation in the region offer a broader range of wellness services and programs like mental health assistance, physical fitness and more to satisfy the growing employee needs. Growing healthcare costs is also driving businesses to invest in wellness programs to improve employee health and reduce costs. The key players profiled in the region include Cerner Corporation, Premise Health, Kinema Fitness, Fitbit, Inc., Marino Wellness, Limeade, and more.    

Asia-Pacific is the fastest-growing region in the global corporate wellness market due to speedy economic growth, rising health awareness, and supportive government initiatives. The developing economies in Asia-Pacific are boosting corporate funding in employee wellness to encourage competitiveness and improve productivity. Growing awareness about health concerns and the significance of wellness is triggering businesses to implement wellness initiatives and programs. Governments are also encouraging corporate wellness as a component of public health strategies, providing support for businesses.

Global Corporate Wellness Market Size By Geography
  • Largest
  • Fastest

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Corporate Wellness Market Dynamics

Corporate Wellness Market Driver

Growing Awareness of Employee Wellness 

  • Growing importance and awareness of health-driven culture and rising initiatives for mental health is remarkably driving the corporate wellness market. There is a growing focus on recognizing the connection between productivity and wellness. This ultimately results in organizations to emphasize on better health initiatives. The growing cases of mental health issues have forced the need to support workplace surroundings. 

Talent Retention and Attraction 

  • Today, companies are actively using diverse wellness programs as distinguishers in the highly competitive job environment, assisting them to retain and attract talents. This will be a competitive advantage to companies. Moreover, strong wellness initiatives can notably improve overall job satisfaction, resulting in less turnover rates and better business productivity. 

Restraints 

ROI Tracking and Poor Measurement 

  • Most of the time, businesses struggle to measure the efficiency of wellness programs, which makes it difficult to continue to invest. This may reduce investments and may significantly hamper the growth of the corporate wellness market. Moreover, the lack of homogenous metrics to assess success may result in varying outcomes and create confusion for effectiveness of programs. 

Focus on Short-Term 

  • Companies may also emphasize short-term objectives than long-term health advantages, resulting in the implementation of poor wellness initiatives and programs. This may notably hinder the growth of the corporate wellness market. Also, repeated changes in programs that are not wholly incorporated into company culture may decrease their impact, thus restraining market growth.

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Corporate Wellness Market Competitive Landscape

The global corporate wellness market is expanding noticeably due to the key players engaged in developing and advancing technologies to support the health and wellness of the workforce. The leading companies profiled in the market specialize in mental health services, fitness programs, technology platforms, and nutrition. Vitality Group, Virgin Pulse, Sodexo, Cerner Corporation, and more are focusing on boosting employee participation. Moreover, technology organizations like Fitbit, Apple Health, and more are heavily integrating wellness in their corporate strategies. Other leading players are focusing on collaborations and alliances with focus on employee wellness and increasing their market presence.

Top Players in the Global Corporate Wellness Market Leaders

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

Recent Developments in Corporate Wellness Industry

  • In February 2024, HealthComp and Virgin Pulse join hands to create ‘Personify Health’, a new brand that transforms employee wellness. This new brand will incorporate HealthComp’s health plan admin tools with Virgin’s employee wellness technologies to offer an exhaustive health platform, advantages, navigation, and overall wellness experience with tailored data-based attributes. 
  • In October 2022, Exos announced the launch of its modern digital application, named ‘The Game Changer’ and ‘The Game Changer LIVE’, the parallel immersive in-person experience. These two applications are accepted to considerably reduce stress and awaken individuals’ work passion. 
  • In March 2024, Vitality Group introduced a novel online hub as a component of the company’s Vitality Champions Programme that provides improved support to help business clients seeking to incorporate wellbeing and health into their company culture.

Corporate Wellness Key Market Trends

  • Increased Focus on Mental Health: Today, there are increasing number of resources and awareness campaigns that emphasize better mental health. Businesses and organizations are highlighting mental health assistance by streamlining accessibility to therapy, wellness applications, and counselling. Most employers are also performing initiatives to decrease stigma regarding mental health concerns. These trends are projected to drive the market over the forthcoming years. 
  • Personalization of Programs and Technology Incorporation: Businesses are using analytics to personalize wellness activities depending on requirements and choices. They are increasingly using data-driven insights for better personalization. Moreover, rewards and personalization challenges are inspiring more engagement and participation. Companies are also integrating various wearable technology and solutions for promoting physical activities and tracking health metrics.

Corporate Wellness Market SkyQuest Analysis

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

As per SkyQuest analysis, the corporate wellness market is considerably progressing due to the growing inclination towards holistic wellness, compliance and regulatory factors, and emphasis on corporate productivity and performance. However, the market is hampered by the growing number of workforce needs, limited accessibility in remote areas, and lack of resources and training. North America is anticipated to lead the market owing to its key focus on employee engagement, diverse offerings, and early adoption of improved technologies and wellness programs. Nonetheless, a few opportunities for the growth of the corporate wellness market include the rising focus on hybrid and remote work and growing number of collaborations and partnerships.

Report Metric Details
Market size value in 2022 USD 70.12 billion
Market size value in 2031 USD 103.94 billion
Growth Rate 4.47%
Base year 2023
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Service
    • Health Risk Assessment, Fitness, Smoking Cessation, Health Screening, Nutrition & Weight Management, Stress Management, Others
  • End User
    • Small Scale Organizations, Medium Scale Organizations, Large Scale Organizations
  • Category
    • Fitness & Nutrition Consultants, Psychological Therapists, Organizations/Employers
  • Delivery Model
    • Onsite, Offsite
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 (US)     
  • Wellness Corporate Solutions (US)     
  • ComPsych Corporation (US)     
  • Provant Health Solutions (US)     
  • Optum, Inc. (US)     
  • EXOS (US)     
  • Vitality Group (US)     
  • Marino Wellness (US)     
  • Truworth Wellness (India)     
  • Sodexo (France)     
  • Wellness Layers (US)     
  • TotalWellness Health (US)     
  • Cerner Corporation (US)     
  • Premise Health (US)     
  • Kinema Fitness (US)     
  • Fitbit, Inc. (US)     
  • CoreHealth Technologies (Canada)     
  • Limeade (US)     
  • LifeDojo (US)     
  • RedBrick Health (US)
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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 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 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 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 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 Corporate Wellness Market:

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

Regional Analysis: Further analysis of the 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 70.12 billion in 2022 and is poised to grow from USD 73.25 billion in 2023 to USD 103.94 billion by 2031, growing at a CAGR of 4.47% in the forecast period (2024-2031).

The global corporate wellness market is expanding noticeably due to the key players engaged in developing and advancing technologies to support the health and wellness of the workforce. The leading companies profiled in the market specialize in mental health services, fitness programs, technology platforms, and nutrition. Vitality Group, Virgin Pulse, Sodexo, Cerner Corporation, and more are focusing on boosting employee participation. Moreover, technology organizations like Fitbit, Apple Health, and more are heavily integrating wellness in their corporate strategies. Other leading players are focusing on collaborations and alliances with focus on employee wellness and increasing their market presence. 'Virgin Pulse (US)     ', 'Wellness Corporate Solutions (US)     ', 'ComPsych Corporation (US)     ', 'Provant Health Solutions (US)     ', 'Optum, Inc. (US)     ', 'EXOS (US)     ', 'Vitality Group (US)     ', 'Marino Wellness (US)     ', 'Truworth Wellness (India)     ', 'Sodexo (France)     ', 'Wellness Layers (US)     ', 'TotalWellness Health (US)     ', 'Cerner Corporation (US)     ', 'Premise Health (US)     ', 'Kinema Fitness (US)     ', 'Fitbit, Inc. (US)     ', 'CoreHealth Technologies (Canada)     ', 'Limeade (US)     ', 'LifeDojo (US)     ', 'RedBrick Health (US)'

Growing importance and awareness of health-driven culture and rising initiatives for mental health is remarkably driving the corporate wellness market. There is a growing focus on recognizing the connection between productivity and wellness. This ultimately results in organizations to emphasize on better health initiatives. The growing cases of mental health issues have forced the need to support workplace surroundings. 

Increased Focus on Mental Health: Today, there are increasing number of resources and awareness campaigns that emphasize better mental health. Businesses and organizations are highlighting mental health assistance by streamlining accessibility to therapy, wellness applications, and counselling. Most employers are also performing initiatives to decrease stigma regarding mental health concerns. These trends are projected to drive the market over the forthcoming years. 

Geographically, North America dominated the market in the previous years and is expected to lead over the forecast period owing to the growing healthcare costs, early adoption of improved wellness programs, and diverse offerings. North America is the leading region that adopts wellness programs faster than others, which helps in offering best practices and establishes a strong infrastructure. Companies operation in the region offer a broader range of wellness services and programs like mental health assistance, physical fitness and more to satisfy the growing employee needs. Growing healthcare costs is also driving businesses to invest in wellness programs to improve employee health and reduce costs. The key players profiled in the region include Cerner Corporation, Premise Health, Kinema Fitness, Fitbit, Inc., Marino Wellness, Limeade, and more.    

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Corporate Wellness Market

Report ID: SQMIG35G2232

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