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Health and Wellness Market By Product Type: Global Opportunity Analysis and Industry Forecast, 2021-2031

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    Report

  • 280 Pages
  • January 2023
  • Region: Global
  • Allied Market Research
  • ID: 5751208
The global health and wellness market is estimated to garner $12.9 trillion by 2031, increasing from $4,7 trillion in 2021 at a CAGR of 10.9% from 2022 to 2031.

One of the primary reasons driving market expansion is the rising incidence of chronic lifestyle illnesses throughout the world. Cases of blood pressure, diabetes, asthma, arthritis, dementia, and other stress-related ailments are on the rise as a result of sedentary lifestyles and demanding schedules. This has inspired people to engage in different health-related activities such as yoga, meditation, and athletics. Furthermore, the rising trend of employing wearable devices, such as fitness bands and trackers, is boosting market growth.

Increase in awareness of wellness and changes in lifestyle has led clients to select different wellness services such as spas, gyms, clubs, and so on, to live a balanced and healthy life. These services are costly and can only be purchased by persons earning minimum wages. This factor is expected to hamper the market growth.

The integration of digital devices and technology in the health and wellness market has resulted in the introduction of fitness bands, trackers, and other wearable devices. Furthermore, the growing female population is fueling the expansion of beauty and anti-aging goods. The cosmetics business is a significant contribution to the worldwide health and wellness market. Furthermore, the fast-increasing sales of men's cosmetics are fueling industry growth. Another significant driver is the increase in demand for functional and healthful food items. Consumers' heightened health consciousness has driven them to purchase more nutritious food products.

Sustainability and hand care premiumization are key beauty and personal care trends that are converting into income opportunities for organizations in the health and wellness industry. The COVID-19 outbreak has heightened the need for sustainability in personal care products. Personal care firms are stressing sustainability by ensuring the eco-friendliness of pop-up store designs and kiosks. Personal care bottles and containers are constructed of recyclable materials. Companies in the health and wellness market are increasing the availability of alcohol-based hand sanitizers due to the pandemic. They are creating hand purifying gels to meet the hygienic needs of customers. Multi-functional hand care products are becoming increasingly popular in the market.

The key players profiled in this report include Abbott, B. Braun Melsungen AG, L’Oréal, Nestlé, General Mills Inc., Omron Healthcare, Inc., Medtronic, Koninklijke Philips N.V., LifeScan, Animas LLC, Johnson & Johnson Services, Inc., The Coca-Cola Company, and F. Hoffmann-La Roche Ltd.

Key Benefits For Stakeholders

  • This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the health and wellness market analysis from 2021 to 2031 to identify the prevailing health and wellness market opportunities.
  • The market research is offered along with information related to key drivers, restraints, and opportunities.
  • Porter's Five Forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
  • In-depth analysis of the health and wellness market segmentation assists to determine the prevailing market opportunities.
  • Major countries in each region are mapped according to their revenue contribution to the global market.
  • Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
  • The report includes the analysis of the regional as well as global health and wellness market trends, key players, market segments, application areas, and market growth Strategies.

Key Market Segments

By Product Type

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

By Region

  • North America
  • U.S.
  • Canada
  • Mexico
  • Europe
  • United Kingdom
  • Germany
  • France
  • Spain
  • Italy
  • Rest of Europe
  • Asia-Pacific
  • China
  • British Indian Ocean Territory
  • Japan
  • South Korea
  • Australia
  • Rest of Asia-Pacific
  • LAMEA
  • Brazil
  • UAE
  • Saudi Arabia
  • South Africa
  • Rest of LAMEA

Key Market Players

  • Abbott Laboratories
  • B. Braun Melsungen AG
  • L’Oreal
  • Nestle
  • General Mills Inc.
  • Omron Healthcare, Inc.
  • Medtronic, Inc.
  • Koninklijke Philips N.V.
  • lifescan
  • Animas LLC
  • Johnson & Johnson Services, Inc.
  • F. Hoffmann-La Roche Ltd

Table of Contents

CHAPTER 1: INTRODUCTION
1.1.Report description
1.2.Key market segments
1.3.Key benefits to the stakeholders
1.4.Research Methodology
1.4.1.Secondary research
1.4.2.Primary research
1.4.3.Analyst tools and models

CHAPTER 2: EXECUTIVE SUMMARY
2.1.Key findings of the study
2.2.CXO Perspective

CHAPTER 3: MARKET OVERVIEW
3.1.Market definition and scope
3.2.Key findings
3.2.1.Top investment pockets
3.3.Porter’s five forces analysis
3.4.Market dynamics
3.4.1.Drivers
3.4.2.Restraints
3.4.3.Opportunities
3.5.COVID-19 Impact Analysis on the market
3.6.Value Chain Analysis
3.7.Market Share Analysis
3.8.Regulatory Guidelines
3.9.Key Regulation Analysis
3.10.Patent Landscape

CHAPTER 4: HEALTH AND WELLNESS MARKET, BY PRODUCT TYPE
4.1 Overview
4.1.1 Market size and forecast
4.2. Beauty & Personal Care Products
4.2.1 Key market trends, growth factors and opportunities
4.2.2 Market size and forecast, by region
4.2.3 Market share analysis by country
4.3. Health & Wellness Food
4.3.1 Key market trends, growth factors and opportunities
4.3.2 Market size and forecast, by region
4.3.3 Market share analysis by country
4.4. Wellness Tourism
4.4.1 Key market trends, growth factors and opportunities
4.4.2 Market size and forecast, by region
4.4.3 Market share analysis by country
4.5. Fitness Equipment
4.5.1 Key market trends, growth factors and opportunities
4.5.2 Market size and forecast, by region
4.5.3 Market share analysis by country
4.6. Others
4.6.1 Key market trends, growth factors and opportunities
4.6.2 Market size and forecast, by region
4.6.3 Market share analysis by country

CHAPTER 5: HEALTH AND WELLNESS MARKET, BY REGION
5.1 Overview
5.1.1 Market size and forecast
5.2 North America
5.2.1 Key trends and opportunities
5.2.2 North America Market size and forecast, by Product Type
5.2.3 North America Market size and forecast, by country
5.2.3.1 U.S.
5.2.3.1.1 Key market trends, growth factors and opportunities
5.2.3.1.2 Market size and forecast, by Product Type
5.2.3.2 Canada
5.2.3.2.1 Key market trends, growth factors and opportunities
5.2.3.2.2 Market size and forecast, by Product Type
5.2.3.3 Mexico
5.2.3.3.1 Key market trends, growth factors and opportunities
5.2.3.3.2 Market size and forecast, by Product Type
5.3 Europe
5.3.1 Key trends and opportunities
5.3.2 Europe Market size and forecast, by Product Type
5.3.3 Europe Market size and forecast, by country
5.3.3.1 United Kingdom
5.3.3.1.1 Key market trends, growth factors and opportunities
5.3.3.1.2 Market size and forecast, by Product Type
5.3.3.2 Germany
5.3.3.2.1 Key market trends, growth factors and opportunities
5.3.3.2.2 Market size and forecast, by Product Type
5.3.3.3 France
5.3.3.3.1 Key market trends, growth factors and opportunities
5.3.3.3.2 Market size and forecast, by Product Type
5.3.3.4 Spain
5.3.3.4.1 Key market trends, growth factors and opportunities
5.3.3.4.2 Market size and forecast, by Product Type
5.3.3.5 Italy
5.3.3.5.1 Key market trends, growth factors and opportunities
5.3.3.5.2 Market size and forecast, by Product Type
5.3.3.6 Rest of Europe
5.3.3.6.1 Key market trends, growth factors and opportunities
5.3.3.6.2 Market size and forecast, by Product Type
5.4 Asia-Pacific
5.4.1 Key trends and opportunities
5.4.2 Asia-Pacific Market size and forecast, by Product Type
5.4.3 Asia-Pacific Market size and forecast, by country
5.4.3.1 China
5.4.3.1.1 Key market trends, growth factors and opportunities
5.4.3.1.2 Market size and forecast, by Product Type
5.4.3.2 British Indian Ocean Territory
5.4.3.2.1 Key market trends, growth factors and opportunities
5.4.3.2.2 Market size and forecast, by Product Type
5.4.3.3 Japan
5.4.3.3.1 Key market trends, growth factors and opportunities
5.4.3.3.2 Market size and forecast, by Product Type
5.4.3.4 South Korea
5.4.3.4.1 Key market trends, growth factors and opportunities
5.4.3.4.2 Market size and forecast, by Product Type
5.4.3.5 Australia
5.4.3.5.1 Key market trends, growth factors and opportunities
5.4.3.5.2 Market size and forecast, by Product Type
5.4.3.6 Rest of Asia-Pacific
5.4.3.6.1 Key market trends, growth factors and opportunities
5.4.3.6.2 Market size and forecast, by Product Type
5.5 LAMEA
5.5.1 Key trends and opportunities
5.5.2 LAMEA Market size and forecast, by Product Type
5.5.3 LAMEA Market size and forecast, by country
5.5.3.1 Brazil
5.5.3.1.1 Key market trends, growth factors and opportunities
5.5.3.1.2 Market size and forecast, by Product Type
5.5.3.2 UAE
5.5.3.2.1 Key market trends, growth factors and opportunities
5.5.3.2.2 Market size and forecast, by Product Type
5.5.3.3 Saudi Arabia
5.5.3.3.1 Key market trends, growth factors and opportunities
5.5.3.3.2 Market size and forecast, by Product Type
5.5.3.4 South Africa
5.5.3.4.1 Key market trends, growth factors and opportunities
5.5.3.4.2 Market size and forecast, by Product Type
5.5.3.5 Rest of LAMEA
5.5.3.5.1 Key market trends, growth factors and opportunities
5.5.3.5.2 Market size and forecast, by Product Type

CHAPTER 6: COMPETITIVE LANDSCAPE
6.1. Introduction
6.2. Top winning Strategies
6.3. Product Mapping of Top 10 Player
6.4. Competitive Dashboard
6.5. Competitive Heatmap
6.6. Top player positioning, 2021

CHAPTER 7: COMPANY PROFILES
7.1 Abbott Laboratories
7.1.1 Company overview
7.1.2 Key Executives
7.1.3 Company snapshot
7.1.4 Operating business segments
7.1.5 Product portfolio
7.1.6 Business performance
7.1.7 Key strategic moves and developments
7.2 B. Braun Melsungen AG
7.2.1 Company overview
7.2.2 Key Executives
7.2.3 Company snapshot
7.2.4 Operating business segments
7.2.5 Product portfolio
7.2.6 Business performance
7.2.7 Key strategic moves and developments
7.3 L’Oreal
7.3.1 Company overview
7.3.2 Key Executives
7.3.3 Company snapshot
7.3.4 Operating business segments
7.3.5 Product portfolio
7.3.6 Business performance
7.3.7 Key strategic moves and developments
7.4 Nestle
7.4.1 Company overview
7.4.2 Key Executives
7.4.3 Company snapshot
7.4.4 Operating business segments
7.4.5 Product portfolio
7.4.6 Business performance
7.4.7 Key strategic moves and developments
7.5 General Mills Inc.
7.5.1 Company overview
7.5.2 Key Executives
7.5.3 Company snapshot
7.5.4 Operating business segments
7.5.5 Product portfolio
7.5.6 Business performance
7.5.7 Key strategic moves and developments
7.6 Omron Healthcare, Inc.
7.6.1 Company overview
7.6.2 Key Executives
7.6.3 Company snapshot
7.6.4 Operating business segments
7.6.5 Product portfolio
7.6.6 Business performance
7.6.7 Key strategic moves and developments
7.7 Medtronic, Inc.
7.7.1 Company overview
7.7.2 Key Executives
7.7.3 Company snapshot
7.7.4 Operating business segments
7.7.5 Product portfolio
7.7.6 Business performance
7.7.7 Key strategic moves and developments
7.8 Koninklijke Philips N.V.
7.8.1 Company overview
7.8.2 Key Executives
7.8.3 Company snapshot
7.8.4 Operating business segments
7.8.5 Product portfolio
7.8.6 Business performance
7.8.7 Key strategic moves and developments
7.9 lifescan
7.9.1 Company overview
7.9.2 Key Executives
7.9.3 Company snapshot
7.9.4 Operating business segments
7.9.5 Product portfolio
7.9.6 Business performance
7.9.7 Key strategic moves and developments
7.10 Animas LLC
7.10.1 Company overview
7.10.2 Key Executives
7.10.3 Company snapshot
7.10.4 Operating business segments
7.10.5 Product portfolio
7.10.6 Business performance
7.10.7 Key strategic moves and developments
7.11 Johnson & Johnson Services, Inc.
7.11.1 Company overview
7.11.2 Key Executives
7.11.3 Company snapshot
7.11.4 Operating business segments
7.11.5 Product portfolio
7.11.6 Business performance
7.11.7 Key strategic moves and developments
7.12 F. Hoffmann-La Roche Ltd
7.12.1 Company overview
7.12.2 Key Executives
7.12.3 Company snapshot
7.12.4 Operating business segments
7.12.5 Product portfolio
7.12.6 Business performance
7.12.7 Key strategic moves and developments

List of Tables
Table 1. Global Health and Wellness Market, by Product Type, 2021-2031 (Revenue, $Billion)
Table 2. Health and Wellness Market for Beauty & Personal Care Products, by Region, 2021-2031 (Revenue, $Billion)
Table 3. Health and Wellness Market for Health & Wellness Food, by Region, 2021-2031 (Revenue, $Billion)
Table 4. Health and Wellness Market for Wellness Tourism, by Region, 2021-2031 (Revenue, $Billion)
Table 5. Health and Wellness Market for Fitness Equipment, by Region, 2021-2031 (Revenue, $Billion)
Table 6. Health and Wellness Market for Others, by Region, 2021-2031 (Revenue, $Billion)
Table 7. Health and Wellness Market, by Region, 2021-2031 (Revenue, $Billion)
Table 8. North America Health and Wellness Market, by Product Type, 2021-2031 (Revenue, $Billion)
Table 9. North America Health and Wellness Market, by Country, 2021-2031 (Revenue, $Billion)
Table 10. U.S. Health and Wellness Market, by Product Type, 2021-2031 (Revenue, $Billion)
Table 11. Canada Health and Wellness Market, by Product Type, 2021-2031 (Revenue, $Billion)
Table 12. Mexico Health and Wellness Market, by Product Type, 2021-2031 (Revenue, $Billion)
Table 13. Europe Health and Wellness Market, by Product Type, 2021-2031 (Revenue, $Billion)
Table 14. Europe Health and Wellness Market, by Country, 2021-2031 (Revenue, $Billion)
Table 15. United Kingdom Health and Wellness Market, by Product Type, 2021-2031 (Revenue, $Billion)
Table 16. Germany Health and Wellness Market, by Product Type, 2021-2031 (Revenue, $Billion)
Table 17. France Health and Wellness Market, by Product Type, 2021-2031 (Revenue, $Billion)
Table 18. Spain Health and Wellness Market, by Product Type, 2021-2031 (Revenue, $Billion)
Table 19. Italy Health and Wellness Market, by Product Type, 2021-2031 (Revenue, $Billion)
Table 20. Rest of Europe Health and Wellness Market, by Product Type, 2021-2031 (Revenue, $Billion)
Table 21. Asia-Pacific Health and Wellness Market, by Product Type, 2021-2031 (Revenue, $Billion)
Table 22. Asia-Pacific Health and Wellness Market, by Country, 2021-2031 (Revenue, $Billion)
Table 23. China Health and Wellness Market, by Product Type, 2021-2031 (Revenue, $Billion)
Table 24. British Indian Ocean Territory Health and Wellness Market, by Product Type, 2021-2031 (Revenue, $Billion)
Table 25. Japan Health and Wellness Market, by Product Type, 2021-2031 (Revenue, $Billion)
Table 26. South Korea Health and Wellness Market, by Product Type, 2021-2031 (Revenue, $Billion)
Table 27. Australia Health and Wellness Market, by Product Type, 2021-2031 (Revenue, $Billion)
Table 28. Rest of Asia-Pacific Health and Wellness Market, by Product Type, 2021-2031 (Revenue, $Billion)
Table 29. LAMEA Health and Wellness Market, by Product Type, 2021-2031 (Revenue, $Billion)
Table 30. LAMEA Health and Wellness Market, by Country, 2021-2031 (Revenue, $Billion)
Table 31. Brazil Health and Wellness Market, by Product Type, 2021-2031 (Revenue, $Billion)
Table 32. UAE Health and Wellness Market, by Product Type, 2021-2031 (Revenue, $Billion)
Table 33. Saudi Arabia Health and Wellness Market, by Product Type, 2021-2031 (Revenue, $Billion)
Table 34. South Africa Health and Wellness Market, by Product Type, 2021-2031 (Revenue, $Billion)
Table 35. Rest of LAMEA Health and Wellness Market, by Product Type, 2021-2031 (Revenue, $Billion)
Table 36. Abbott Laboratories: Key Executives
Table 37. Abbott Laboratories: Company Snapshot
Table 38. Abbott Laboratories: Operating Segments
Table 39. Abbott Laboratories: Product Portfolio
Table 40. Abbott Laboratories: Net Sales
Table 41. Abbott Laboratories: Key Strategies
Table 42. B. Braun Melsungen AG: Key Executives
Table 43. B. Braun Melsungen AG: Company Snapshot
Table 44. B. Braun Melsungen AG: Operating Segments
Table 45. B. Braun Melsungen AG: Product Portfolio
Table 46. B. Braun Melsungen AG: Net Sales
Table 47. B. Braun Melsungen AG: Key Strategies
Table 48. L’Oreal: Key Executives
Table 49. L’Oreal: Company Snapshot
Table 50. L’Oreal: Operating Segments
Table 51. L’Oreal: Product Portfolio
Table 52. L’Oreal: Net Sales
Table 53. L’Oreal: Key Strategies
Table 54. Nestle: Key Executives
Table 55. Nestle: Company Snapshot
Table 56. Nestle: Operating Segments
Table 57. Nestle: Product Portfolio
Table 58. Nestle: Net Sales
Table 59. Nestle: Key Strategies
Table 60. General Mills Inc.: Key Executives
Table 61. General Mills Inc.: Company Snapshot
Table 62. General Mills Inc.: Operating Segments
Table 63. General Mills Inc.: Product Portfolio
Table 64. General Mills Inc.: Net Sales
Table 65. General Mills Inc.: Key Strategies
Table 66. Omron Healthcare, Inc.: Key Executives
Table 67. Omron Healthcare, Inc.: Company Snapshot
Table 68. Omron Healthcare, Inc.: Operating Segments
Table 69. Omron Healthcare, Inc.: Product Portfolio
Table 70. Omron Healthcare, Inc.: Net Sales
Table 71. Omron Healthcare, Inc.: Key Strategies
Table 72. Medtronic, Inc.: Key Executives
Table 73. Medtronic, Inc.: Company Snapshot
Table 74. Medtronic, Inc.: Operating Segments
Table 75. Medtronic, Inc.: Product Portfolio
Table 76. Medtronic, Inc.: Net Sales
Table 77. Medtronic, Inc.: Key Strategies
Table 78. Koninklijke Philips N.V.: Key Executives
Table 79. Koninklijke Philips N.V.: Company Snapshot
Table 80. Koninklijke Philips N.V.: Operating Segments
Table 81. Koninklijke Philips N.V.: Product Portfolio
Table 82. Koninklijke Philips N.V.: Net Sales
Table 83. Koninklijke Philips N.V.: Key Strategies
Table 84. Lifescan: Key Executives
Table 85. Lifescan: Company Snapshot
Table 86. Lifescan: Operating Segments
Table 87. Lifescan: Product Portfolio
Table 88. Lifescan: Net Sales
Table 89. Lifescan: Key Strategies
Table 90. Animas LLC: Key Executives
Table 91. Animas LLC: Company Snapshot
Table 92. Animas LLC: Operating Segments
Table 93. Animas LLC: Product Portfolio
Table 94. Animas LLC: Net Sales
Table 95. Animas LLC: Key Strategies
Table 96. Johnson & Johnson Services, Inc.: Key Executives
Table 97. Johnson & Johnson Services, Inc.: Company Snapshot
Table 98. Johnson & Johnson Services, Inc.: Operating Segments
Table 99. Johnson & Johnson Services, Inc.: Product Portfolio
Table 100. Johnson & Johnson Services, Inc.: Net Sales
Table 101. Johnson & Johnson Services, Inc.: Key Strategies
Table 102. F. Hoffmann-La Roche Ltd.: Key Executives
Table 103. F. Hoffmann-La Roche Ltd.: Company Snapshot
Table 104. F. Hoffmann-La Roche Ltd.: Operating Segments
Table 105. F. Hoffmann-La Roche Ltd.: Product Portfolio
Table 106. F. Hoffmann-La Roche Ltd.: Net Sales
Table 107. F. Hoffmann-La Roche Ltd.: Key Strategies

List of Figures
Figure 1. Segmentation of Health and Wellness Market,2021-2031
Figure 2. Health and Wellness Market,2021-2031
Figure 3. Top Investment Pockets, by Region
Figure 4. Porter Five-1
Figure 5. Porter Five-2
Figure 6. Porter Five-3
Figure 7. Porter Five-4
Figure 8. Porter Five-5
Figure 9. Health and Wellness Market:Drivers, Restraints and Opportunities
Figure 10. Value Chain Analysis
Figure 11. Market Share Analysis
Figure 12. Regulatory Guidelines
Figure 13. Key Regulation Analysis
Figure 14. Patent Analysis by Company
Figure 15. Patent Analysis by Country
Figure 16. Health and Wellness Market,By Product Type,2021(%)
Figure 17. Comparative Share Analysis of Beauty & Personal Care Products Health and Wellness Market, 2021 and 2031(%)
Figure 18. Comparative Share Analysis of Health & Wellness Food Health and Wellness Market, 2021 and 2031(%)
Figure 19. Comparative Share Analysis of Wellness Tourism Health and Wellness Market, 2021 and 2031(%)
Figure 20. Comparative Share Analysis of Fitness Equipment Health and Wellness Market, 2021 and 2031(%)
Figure 21. Comparative Share Analysis of Others Health and Wellness Market, 2021 and 2031(%)
Figure 22. Health and Wellness Market by Region,2021
Figure 23. U.S. Health and Wellness Market,2021-2031($Billion)
Figure 24. Canada Health and Wellness Market,2021-2031($Billion)
Figure 25. Mexico Health and Wellness Market,2021-2031($Billion)
Figure 26. United Kingdom Health and Wellness Market,2021-2031($Billion)
Figure 27. Germany Health and Wellness Market,2021-2031($Billion)
Figure 28. France Health and Wellness Market,2021-2031($Billion)
Figure 29. Spain Health and Wellness Market,2021-2031($Billion)
Figure 30. Italy Health and Wellness Market,2021-2031($Billion)
Figure 31. Rest of Europe Health and Wellness Market,2021-2031($Billion)
Figure 32. China Health and Wellness Market,2021-2031($Billion)
Figure 33. British Indian Ocean Territory Health and Wellness Market,2021-2031($Billion)
Figure 34. Japan Health and Wellness Market,2021-2031($Billion)
Figure 35. South Korea Health and Wellness Market,2021-2031($Billion)
Figure 36. Australia Health and Wellness Market,2021-2031($Billion)
Figure 37. Rest of Asia-Pacific Health and Wellness Market,2021-2031($Billion)
Figure 38. Brazil Health and Wellness Market,2021-2031($Billion)
Figure 39. UAE Health and Wellness Market,2021-2031($Billion)
Figure 40. Saudi Arabia Health and Wellness Market,2021-2031($Billion)
Figure 41. South Africa Health and Wellness Market,2021-2031($Billion)
Figure 42. Rest of LAMEA Health and Wellness Market,2021-2031($Billion)
Figure 43. Top Winning Strategies, by Year
Figure 44. Top Winning Strategies, by Development
Figure 45. Top Winning Strategies, by Company
Figure 46. Product Mapping of Top 10 Players
Figure 47. Competitive Dashboard
Figure 48. Competitive Heatmap of Top 10 Key Players
Figure 49. Top Player Positioning, 2021
Figure 50. Abbott Laboratories.: Net Sales ($Billion)
Figure 51. B. Braun Melsungen AG.: Net Sales ($Billion)
Figure 52. L’Oreal.: Net Sales ($Billion)
Figure 53. Nestle.: Net Sales ($Billion)
Figure 54. General Mills Inc..: Net Sales ($Billion)
Figure 55. Omron Healthcare, Inc..: Net Sales ($Billion)
Figure 56. Medtronic, Inc..: Net Sales ($Billion)
Figure 57. Koninklijke Philips N.V..: Net Sales ($Billion)
Figure 58. Lifescan.: Net Sales ($Billion)
Figure 59. Animas LLC.: Net Sales ($Billion)
Figure 60. Johnson & Johnson Services, Inc..: Net Sales ($Billion)
Figure 61. F. Hoffmann-La Roche Ltd.: Net Sales ($Billion)

Executive Summary

According to the report titled, 'Health and Wellness Market,' the health and wellness market was valued at $4.7 trillion in 2021, and is estimated to reach $12.9 trillion by 2031, growing at a CAGR of 10.9% from 2022 to 2031.

Health and wellness are emerging trends among people, especially the young generation, globally. Currently, health and wellness have become an integral part of a person’s life, as a person is surrounded by many health-related concerns such as physical and mental disorders. According to the World Health Organization (WHO), the maintenance of health is of utmost importance for people worldwide and involves the physical, mental, emotional, and social well-being of a person.

The health and wellness market is expected to grow at a significant rate in the next few years. One of the main factors driving the market expansion is the increase in the prevalence of chronic illnesses among people across the world. Awareness among people about the importance of health and well-being in their daily lives has pushed them to opt for a regular health regime to continuously monitor their well-being. The prevalence of diabetes, asthma, arthritis, cancer, and other stress-related ailments has greatly increased owing to sedentary lives and busy schedules. Unhealthy eating habits, a growing depression rate among young individuals, and a high rate of work stress among working professionals are some of the prominent factors that have contributed to the inclination of people towards adopting a healthy lifestyle and improving their health status.

Maintaining a regular healthy diet and following a healthy lifestyle is highly expensive as some important products and services such as gyms, yoga classes, high protein and fiber products, and health supplements are very expensive. It is difficult for a middle-income person to afford such costly products. These factors are likely to restrain the market growth during the forecast time.

The health and wellness sector has gained tremendous traction with young and working millennials in the past few years. This growing health trend has provided numerous growth opportunities for companies that are seeking expansion in the health sector. The adoption of wearable gadgets such as fitness trackers and bands is driving the market expansion. Several manufacturers have launched new fitness products to cater to the increase in demand for advanced health and fitness equipment among people. For instance, Powermax Fitness, a leading Indian brand in the fitness equipment market, launched technologically advanced equipment such as Elliptical cross trainer, Powermax EH 760, and semi-commercial motorized treadmills like Powermax TAC-3000. These new products are equipped with advanced features & technology, providing maximum benefits to consumers. Such factors are likely to boost the market growth in the future.

The health and wellness market is segmented on the basis of product type and region. By product type, it is classified into beauty & personal care products, health & wellness food, wellness tourism, fitness equipment, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The key players profiled in the health and wellness market report include Abbott, B. Braun Melsungen AG, L’Oréal, Nestlé, General Mills Inc., Omron Healthcare, Inc., Medtronic, Koninklijke Philips N.V., LifeScan, Animas LLC, Johnson & Johnson Services, Inc., The Coca-Cola Company, and F. Hoffmann-La Roche Ltd. The major players in the market have been actively engaged in the adoption of various Strategies such as acquisition, product launches, and expansion to remain competitive and gain an advantage over the competitors in the market. For instance, in November 2022, Mumbai: BoAt and Cult.fit, two leading brands in the fitness industry have joined hands and launched their first home workout program, Fitness Xtended. The six-week program is a combination of yoga, conditioning exercise & strength, and HIIT workouts planned to provide maximum advantage to the people.

Key Market Insights

Based on product type, the beauty & personal care products sub-segment emerged as the global leader in 2021 and is anticipated to be the fastest growing sub-segment during the forecast period

Based on region, the North America market registered the highest market share in 2021 and is projected to maintain its position during the forecast period

Companies Mentioned

  • Abbott Laboratories
  • B. Braun Melsungen AG
  • L’Oreal
  • Nestle
  • General Mills Inc.
  • Omron Healthcare, Inc.
  • Medtronic, Inc.
  • Koninklijke Philips N.V.
  • lifescan
  • Animas LLC
  • Johnson & Johnson Services, Inc.
  • F. Hoffmann-La Roche Ltd

Methodology

The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.

They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.

They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:

  • Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic news articles and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast

Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.

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