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The global health and wellness market reached a value of US$ 4,974 Billion in 2022. Looking forward, IMARC Group expects the market to reach a value of US$ 7,012 Billion by 2028, exhibiting a CAGR of 5.89% during 2023-2028. Health and wellness refer to the state of complete physical, emotional, and mental well-being of an individual. It can be achieved and maintained by making a few alterations to one’s daily lifestyle, such as eating a variety of nutrient-rich foods, not skipping meals, limiting the consumption of junk food, drinking plenty of water, being active, avoiding too much caffeine and alcohol, etc. Some of the main aspects of health and wellness are fitness, nutrition, personal care, weight management, preventive medicine, etc. Besides this, other wellness-related services include thermal and mineral springs, wellness tourism, health spas, etc.
The rising prevalence of chronic lifestyle diseases, such as diabetes, high blood pressure, arthritis, etc., particularly among individuals with sedentary lifestyles and hectic work schedules is primarily driving the global health and wellness market. In addition to this, the escalating consumer inclination towards various wellness services, such as spas, gyms, clubs, etc., in order to have a balanced and healthy lifestyle is also propelling the market growth. Moreover, the increasing health consciousness among the masses is further augmenting the demand for healthy food and beverages that have immune-building properties, maintain dietary nutrition, and protect the body against several diseases. This, in turn, is acting as a significant growth-inducing factor. Besides this, the emerging popularity of workplace wellness programs in order to educate employees about the importance of building healthy habits and the advantages of sticking to fitness goals is further bolstering the market growth. Moreover, the inflating demand for wearable devices, such as fitness bands and trackers, for real-time monitoring of calories, blood pressure, oxygen levels, etc., is also fueling the global market. Additionally, the widespread adoption of organic and naturally sourced food products fortified with essential nutrients is further creating a positive outlook for the market. Moreover, the introduction of specialized therapeutic water, including iodine-bromine and spring mineral water, for treating circulation disorders, spinal column ailments, rheumatism, bronchitis, etc., is expected to drive the global health and wellness market over the forecasted period.
The report has also provided a comprehensive analysis of all the major regional markets that include the United States, Canada, Germany, France, the United Kingdom, Italy, Spain, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico, etc. According to the report, the United States was the largest market for health and wellness. Some of the factors driving the United States health and wellness market included the increasing consumer health consciousness, growing prevalence of lifestyle diseases, rising popularity of wearable devices, etc. For each of the countries covered, the report provides market drivers, historical and current market trends, market breakup by type, key players, and market forecast.
The report has also provided a detailed breakup and analysis of the global health and wellness market based on the sector. This includes beauty and personal care products, food and beverages, fitness equipment, wellness tourism, preventive and personalized healthcare products, spa economy, and others. According to the report, beauty and personal care products represented the largest segment.
A detailed breakup and analysis of the global health and wellness market based on the functionality has also been provided in the report. This includes nutrition & weight management, heart & gut health, immunity, bone health, skin health and others. According to the report, skin health accounted for the largest market share.
Distribution Channel Insights
The report has also provided an exhaustive breakup and analysis of the market based on the distribution channel. This includes offline and online channels. A further breakup of offline and online channels has also been provided in the report. According to the report, offline channels accounted for the highest market share.
The report has also provided a comprehensive analysis of the competitive landscape in the global health and wellness market. This includes market structure, market player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant. Detailed profiles of all major companies have also been provided. Some of the companies covered include Amway Corp., Bayer AG, Herbalife Nutrition, Inc, L'Oreal, Unilever, etc. Kindly, note that this only represents a partial list of companies, and the complete list has been provided in the report. For each of the companies covered, the report provides business overview, services offered, business strategies, financials, SWOT analysis, and major news and events.
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