Health And Wellness Market Share, Outlook and Research Report 2023-2028
The latest report by IMARC Group, titled “Health and Wellness Market: Global Market Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028,” offers a comprehensive analysis of the industry, which comprises insights on the health and wellness market share. The report also includes competitor and regional analysis, and contemporary advancements in the market. The global health and wellness market size reached US$ 3,481.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 4,454.0 Billion by 2028, exhibiting a growth rate (CAGR) of 3.99% during 2023-2028.
Health and Wellness Market Overview:
Health and wellness include the well-being of the mind, spirit, and body. It involves taking care of physical, mental, and emotional well-being. It comprises getting enough sleep, exercising regularly, eating a balanced diet, and avoiding unhealthy habits, such as smoking and excessive alcohol consumption. It may also involve engaging in diverse activities and managing stress healthily, along with recognizing and accepting emotions, healthily expressing them, and taking time to relax and process emotions. Some of the health and wellness services offered to consumers include wellness tourism, wellness real estate, thermal and mineral springs, and health spas.
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Global Health and Wellness Market Trends:
The growing health consciousness among the masses majorly drives the global market. This can be supported by the rising prevalence of chronic lifestyle diseases, including obesity, diabetes, hypertension, chronic obstructive pulmonary diseases (COPD), asthma, osteoporosis, heart stroke, and cardiovascular diseases due to hectic schedules and sedentary lifestyles led by the masses. With the rising awareness among consumers regarding the importance of good health and its connection to overall well-being, this is driving the demand for several products and services that promote healthy lifestyles, such as nutritious food, fitness and wellness products, and preventive healthcare services.
Due to the increasing geriatric population, the demand for health and wellness products and services has rapidly increased as they are prone to comorbidities, thus further impacting the market. Apart from this, several government agencies are undertaking initiatives to promote healthy lifestyles and encourage preventive healthcare, which is acting as another growth-inducing factor. Moreover, various technological advancements in health-related information and products, including fitness bands and trackers, are creating a positive market outlook.
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Key Market Segmentation:
Leading Health and Wellness Companies Worldwide:
- Amway Corp.
- Bayer AG
- David Lloyd Leisure Ltd.
- Fitness First
- Herbalife Nutrition Ltd.
- Holland & Barrett Retail Limited
- L’Oréal SA
- Nestlé SA
- Procter & Gambl
- Vitabiotics Ltd. etc.
Breakup by Product Type:
- Functional Foods and Beverages
- Beauty and Personal Care Products
- Preventive and Personalized Medicinal Products
Breakup by Functionality:
- Nutrition & Weight Management
- Heart & Gut Health
- Bone Health
- Skin Health
Breakup by Region
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
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