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The global health and wellness market reached a value of US$ 3.31 Billion in 2020. Health and wellness refer to the state of complete wellbeing of the body, mind and spirit. Some of the important aspects of the health and wellness industry include personal care/beauty, nutrition, weight management, fitness, preventive/personalized medicine, etc. Apart from this, services based on wellness real estate, wellness tourism, health spas and thermal and mineral springs are also offered to consumers and form an integral operational part of the industry.
The growing prevalence of chronic lifestyle diseases across the globe is one of the key factors driving the growth of the market. Owing to the sedentary lifestyles and hectic schedules, the prevalence of diabetes, blood pressure, asthma, arthritis, cancer, dementia and other stress-related disorders has increased significantly. This has encouraged the masses to adopt various healthcare activities, including yoga, meditation and athletics. Furthermore, the emerging trend of using wearable devices, such as fitness bands and trackers, is also providing a boost to the market growth. Additionally, the rapid growth of the wellness tourism and mineral spas sectors is also driving the market. Spa operators use specialized therapeutic waters, such as iodine-bromine and Malkinskaya mineral water, to treat various cardiovascular ailments, rheumatism, spinal column ailments, circulation disorders, asthma and bronchitis. Other factors, including rapid urbanization and rising disposable incomes, along with the increase in the number of health-conscious consumers across the globe, are projected to drive the market further. Looking forward, IMARC Group expects the global health and wellness market to reach a value of US$ 4.24 Billion by 2026, exhibiting a CAGR of 4.10% during 2021-2026.
Breakup by Product Type:
Breakup by Functionality:
Breakup by Region
The competitive landscape of the industry has also been examined with some of the being Amway Corp., Bayer AG, Danone, David Lloyd Leisure Ltd., Fitness First, Herbalife Nutrition Ltd., Holland & Barrett Retail Limited, L'Oréal SA, Nestlé SA, Procter & Gamble, Unilever, Vitabiotics Ltd., etc.
Key Questions Answered in This Report:
The global health and wellness market reached a value of US$ 3.31 Billion in 2020
According to the estimates by IMARC Group, the global health and wellness market to reach a value of US$ 4.24 Billion by 2026, exhibiting a CAGR of 4.10% during 2021-2026.
The growing prevalence of chronic diseases due to unhealthy dietary patterns and sedentary consumer lifestyles represents one of the key factors impelling the global health and wellness market growth.
The emergence of smart wearable devices, such as fitness bands and trackers, along with the growing traction towards fitness tracking mobile applications, represents some of the key trends in the global health and wellness market growth.
The market experienced a positive impact on account of the sudden outbreak of the COVID-19 pandemic as consumers are focusing on maintaining good health and wellness for mitigating the risk of coronavirus transmission.
On the basis of the product type, the market has been bifurcated into functional foods and beverages, beauty and personal care products, preventive and personalized medicinal products, fitness equipment, and others. In this segment, beauty and personal care products accounts for the largest market share.
Based on the functionality, the market has been segmented into nutrition and weight management, heart and gut health, immunity, bone health, skin health, and others, where skin health holds the largest market share.
Region-wise, the market has been classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. In this segment, North America dominates the global market.
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