Global Health and Wellness Market

Health and Wellness Market Size, Share, Growth Analysis, By Sector(Personal care, beauty, and anti-aging, healthy eating), By Region - Industry Forecast 2024-2031


Report ID: SQMIG35D2039 | Region: Global | Published Date: February, 2024
Pages: 242 |Tables: 45 |Figures: 74

Health and Wellness Market Insights

Health and Wellness Market size was valued at USD 4712.5 billion in 2019 and is poised to grow from USD 5226.16 billion in 2023 to USD 11957.36 billion by 2031, growing at a CAGR of 10.9% in the forecast period (2024-2031).

The growth of the global market is attributed to increasing prevalence of chronic diseases such as blood pressure, diabetes, asthma, arthritis, cancer, dementia, and others. This encouraged the adoption of various healthcare activities such as yoga, meditation, and athletics. In addition, the increasing use of wearable devices such as fitness bands and trackers, rapid urbanizations, increasing disposable income, increase in the number of health-conscious people are the factors which help to propel the market growth.

Rapid growth of wellness tourism and mineral spas sectors also drive the market. Spa operator used specialized therapeutic water such as iodine-bromine and Malinskaya mineral water to treat various cardiovascular alignment, circulation disorders, asthma, and others. Wellness tourism takes activities such as meditating at destination, practicing yoga, visiting agricultural fields, and various recreational activities for physical and mental well-being.

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

 

Market Snapshot - 2024-2031

Global Market Size

USD 4712.5 billion

Largest Segment

Personal, beauty, and anti-aging

Fastest Growth

Personal, beauty, and anti-aging

Growth Rate

10.9% CAGR

Global Health And Wellness Market ($ Bn)
Country Share for North America Region (%)

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Health and Wellness Market Segmental Analysis

The global health and wellness market is segmented into sector and region. Based on sector, the global market is segmented into beauty, anti-aging, personal care, healthy eating, nutrition, and weight loss, wellness tourism, preventive, physical activity, and personalized medicine and public health, complementary medicine, traditional, spa economy, and others. Based on region, the market is segmented into North America, Asia Pacific, Europe, Latin America, and others.

Health and Wellness Market Analysis by Sector

The personal, beauty, and anti-aging segment is expected to dominate the global health and wellness market during the forecast period and accounted for the 24% market share. This segment was followed by the nutrition & weight loss segment that accounted for around 15.6% share. The growth of this segment is attributed to the increasing youth population. Younger population focuses more on their physical appearances so they use beauty, personal care, nutrition, and weight loss products.

Wellness tourism is expected to account for about 6% market share and expected to be the fastest growing segment during the forecast period. The growth of this segment is attributed to increasing awareness regarding wellness tourism, increasing disposable income, rapidly growing tourism industry, and rising consumer expenditure on health and wellness services. Wellness tourism provides activities such as yoga, meditation, spa therapies, recreational activities, etc. also increasing government initiatives boost the growth of this segment.

Global Health And Wellness Market By Sector, 2023 (%)

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Health and Wellness Market Regional Insights

Throughout the forecast period, North America is anticipated to dominate the global health and wellness market. The rise in consumer disposable income, rising health consciousness, rising demand for healthy products, and rising consumer knowledge of health and wellness items are all factors contributing to the market's expansion. The expansion of the North American health and wellness market is also greatly aided by the existence of numerous key companies and the different strategic initiatives they have taken.

During the projected period, Asia Pacific is anticipated to be the market with the highest opportunities. Increased population, rising urbanisation, rapid industrialization, favourable government attempts to draw FDIs, and the enormous growth potential of numerous sectors of the health and wellness business are all credited with the market's expansion. The industry for health and wellness receives a significant amount of support from developing nations including China, India, Japan, and South Korea.

Global Health And Wellness Market By Region, 2024-2031
  • Largest
  • Fastest

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Health and Wellness Market Dynamics

Health and Wellness Market Drivers

Increasing Prevalence of Chronic Diseases to Bolster Market Growth

  • Due to sedentary lifestyles and busy schedules, chronic diseases including cancer, diabetes, and cardiovascular diseases are on the rise quickly. Supplements are suggested for people who cannot manufacture vital amino acids, vitamins, and other nutrients as well as individuals who do not consume enough of these elements through diet alone. The World Diabetes Federation estimates that 46 million individuals in North America have diabetes as of 2017. Also, one in five men and one in six women worldwide received a cancer diagnosis in 2018, according to the WHO. Thus, it is anticipated that the global market for health and wellness would grow as chronic diseases become more prevalent.

Health and Wellness Market Restraints

High Cost of Products and Wellness Services to Hinder Market Growth

  • One of the things impeding the expansion of the global health and wellness industry is the high cost of dietary supplements and functional foods and drinks. Amway sells pricey dietary supplements under the name Nutrilite. Consumers want wellness services like spas, gyms, clubs, etc. for a balanced and healthy lifestyle, yet these services are pricey. Corporate wellness services like exercise and health risk assessment cost more money. These are the elements that hampered market expansion.

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Health and Wellness Market Competitive Landscape

Global health and wellness market's competitive landscape is highly fragmented. Key players adopted strategic development such as merger & Acquisitions, collaboration & partnerships, and others to strengthen their position in the global market.

Health and Wellness Market Top Player's Company Profiles

  • Nestle SA
  • PepsiCo, Inc.
  • The Coca-Cola Company
  • Johnson & Johnson
  • Procter & Gamble Co.
  • Unilever NV
  • L'Oreal SA
  • Abbott Laboratories
  • General Mills, Inc.
  • GlaxoSmithKline plc
  • Herbalife Nutrition Ltd.
  • Amway Corporation
  • Kellogg Company
  • Reckitt Benckiser Group plc
  • GNC Holdings Inc.
  • Medtronic plc
  • The Nature's Bounty Co.
  • The Hershey Company
  • Danone SA
  • Colgate-Palmolive Company

Health and Wellness Market Recent Developments

  • In June 2021, Unilever entered into a partnership agreement with the food-tech company, ENOUGH to produce plant-based meat products in the market.

Health and Wellness Key Market Trends

  • For businesses in the health and wellness market, beauty and personal care trends like sustainability and hand care premiumization are translating into income potential. By ensuring that pop-up store designs and kiosk construction are environmentally friendly, personal care firms are emphasising sustainability. Recyclable materials are employed in the production of containers and bottles for personal care products.
  • To help with facial muscle toning and training, companies in the health and wellness sector are producing Gua sha coins, Jade rollers, and metallic face tools made of Kansa, an alloy of bronze, copper, and zinc. These cosmetic items are becoming more and more well-liked as powerful anti-aging tools for ladies.

Health and 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 utilizing Primary Exploratory Research backed by the robust Secondary Desk research.

According to our global health and wellness market analysis, increasing consumer awareness about healthy life, rapidly increasing wellness tourism, increasing use of wearable devices, rapid urbanization, rising government initiatives are the factors responsible for the growth of the market. High cost of nutritional products and expensive wellness services hamper the market growth.

Report Metric Details
Market size value in 2023 USD 4712.5 billion
Market size value in 2031 USD 11957.36 billion
Growth Rate 10.9%
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Sector
    • Personal care, beauty, and anti-aging, healthy eating, nutrition, and weight loss, wellness tourism, physical activity, preventive & personalized medicine and public health, traditional and complementary medicine, spa economy, and others
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
  • Nestle SA
  • PepsiCo, Inc.
  • The Coca-Cola Company
  • Johnson & Johnson
  • Procter & Gamble Co.
  • Unilever NV
  • L'Oreal SA
  • Abbott Laboratories
  • General Mills, Inc.
  • GlaxoSmithKline plc
  • Herbalife Nutrition Ltd.
  • Amway Corporation
  • Kellogg Company
  • Reckitt Benckiser Group plc
  • GNC Holdings Inc.
  • Medtronic plc
  • The Nature's Bounty Co.
  • The Hershey Company
  • Danone SA
  • Colgate-Palmolive Company
Customization scope

Free report customization with purchase. Customization includes:-

  • Segments by type, application, etc
  • Company profile
  • Market dynamics & outlook
  • Region

Historical Year 2019

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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 Health and 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 Health and 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 Health and 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 Health and 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 Health and Wellness Market:

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

Regional Analysis: Further analysis of the Health and 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

Health and Wellness Market size was valued at USD 4712.5 billion in 2019 and is poised to grow from USD 5226.16 billion in 2023 to USD 11957.36 billion by 2031, growing at a CAGR of 10.9% in the forecast period (2024-2031).

health and wellness market's competitive landscape is highly fragmented. Key players adopted strategic development such as merger & Acquisitions, collaboration & partnerships, and others to strengthen their position in the market. 'Nestle SA', 'PepsiCo, Inc.', 'The Coca-Cola Company', 'Johnson & Johnson', 'Procter & Gamble Co.', 'Unilever NV', 'L'Oreal SA', 'Abbott Laboratories', 'General Mills, Inc.', 'GlaxoSmithKline plc', 'Herbalife Nutrition Ltd.', 'Amway Corporation', 'Kellogg Company', 'Reckitt Benckiser Group plc', 'GNC Holdings Inc.', 'Medtronic plc', 'The Nature's Bounty Co.', 'The Hershey Company', 'Danone SA', 'Colgate-Palmolive Company'

Due to sedentary lifestyles and busy schedules, chronic diseases including cancer, diabetes, and cardiovascular diseases are on the rise quickly. Supplements are suggested for people who cannot manufacture vital amino acids, vitamins, and other nutrients as well as individuals who do not consume enough of these elements through diet alone. The World Diabetes Federation estimates that 46 million individuals in North America have diabetes as of 2017. Also, one in five men and one in six women worldwide received a cancer diagnosis in 2018, according to the WHO. Thus, it is anticipated that the market for health and wellness would grow as chronic diseases become more prevalent.

For businesses in the health and wellness market, beauty and personal care trends like sustainability and hand care premiumization are translating into income potential. By ensuring that pop-up store designs and kiosk construction are environmentally friendly, personal care firms are emphasising sustainability. Recyclable materials are employed in the production of containers and bottles for personal care products.

Throughout the forecast period, North America is anticipated to dominate the health and wellness market. The rise in consumer disposable income, rising health consciousness, rising demand for healthy products, and rising consumer knowledge of health and wellness items are all factors contributing to the market's expansion. The expansion of the North American health and wellness market is also greatly aided by the existence of numerous key companies and the different strategic initiatives they have taken.

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Global Health and Wellness Market

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