Health and Wellness Market based on Product Type and Geography: Forecast up to 2027

Health and wellness are two aspects which are highly valued. All people, disregarding of their age, background, or category, ought to pay attention to these concepts. The motive for this is that when people are healthy, they can emphasize effectively on carrying out several duties and activities. They will also be able to live effective lives and achieve the desired goals and objectives. Living effectual and successful lives is based on being in good bodily and mental health. The global health and wellness market is significantly driven by the high consumer expenditure of a wide range of health and wellness products and services across the world. The growing burden of physical and mental diseases such as depression, cancer, anxiety and various others has a vital role in the development of the trillion dollars health and wellness industry. The increasing personal disposable income, high awareness about the health and wellness products and services among the consumers, increasing government expenditure on the development of advanced healthcare infrastructure, and desire for healthy and active lifestyle among the population are various important factors which propels the growth of the global health and wellness market. On the other hand, the factors such as high cost of the products and services and health hazards are restricting the health and wellness market growth. The Health and Wellness Market is likely to grow at a rate of 5.6% CAGR by 2027.

Health and Wellness Market on the basis of Product Type

• Beauty & Personal Care Products
• Health & Wellness Food
• Wellness Tourism
• Fitness Equipment
• Others

Health and Wellness Market on the basis of Geography

• North America
• Europe
• Asia Pacific
• Rest of the World

The health and wellness market is major segmented by product which is divided into Beauty & Personal Care Products, Health & Wellness Food, Wellness Tourism, Fitness Equipment and Others. Among which the Beauty & Personal Care Products segment have the largest share in the health and wellness market. The growing desire for organic and natural beauty and personal care products has affected the growth of the beauty and personal care goods market. Beauty and personal care products have grown steadily over the years, owing to a beauty-conscious female population. Several other variables, such as rising income, increased awareness of the importance of sustaining long-term attractiveness, developing lifestyle, the introduction of an online shopping model, and the creation of a distribution channel, have continued to boost beauty and personal care product market growth.

According to the health and wellness market based on geography the geographical regions include North America, Europe, Asia Pacific and Rest of the World. The North America region is accounted for the largest share in the market. North America's increasing disposable income, increased health consciousness, robust demand for healthy products, and improved consumer knowledge of health and wellness items all boost demand for health and wellness. Moreover, the presence of several key industry players and the different development methods they have adopted has led significantly to the growth of the North American health and wellness market opportunity in the region.

Chronic diseases, also referred as non-communicable diseases, often occur in mid-thirties after long exposure to unhealthy habits, which include dearth of regular exercise, tobacco use, and consumption of diets which are rich in oversaturated fats, artificial sweeteners, and salt, majorly characterized by "junk foods." This lifestyle results in higher levels of negative outcomes, such as hyperlipidemia, hypertension, diabetes, and being overweight which work individually and additively. In health services which are intended to treat severe diseases, the risk factors are commonly misdiagnosed or poorly treated. Hence, the prevalence of chronic lifestyle diseases across the world is driving the global market.

Significant players operating in the health and wellness market are Amway Corp., Procter & Gamble, David Lloyd Leisure Ltd., Holland & Barrett Retail Limited, Bayer AG, Danone, Fitness First, Herbalife Nutrition Ltd., Unilever Plc, and Vitabiotics Ltd.

Therefore, the concept of health and wellness is being given high priority across the world. Moreover, the people are also being very conscious about their health since, due to the inactive lifestyles causing various chronic diseases which are leading to the problems in life.

Key reasons to purchase the report:

• This research report of defines the segmentation of the market in terms of product, application and geography.
• This study evaluates the market on the bases of quantitative and qualitative analysis.
• This report identifies and analyzes the major factors such as propellants, restraints, opportunities and challenges impacting the market.
• This report also provides the profiles of the key competitors along with their progressive strategies such as latest developments in products, joint ventures, mergers and acquisitions and alliances.