(2023-2028) Health and Wellness Market Growth, Industry Insights, SWOT Analysis, Challenges and Investment Opportunities

The latest report by IMARC Group, titled "Health and Wellness Market: Global Market Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028," 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 encompass a range of activities and practices in order to lead a healthy and active lifestyle. It includes engaging in regular exercise, avoiding smoking and drinking, eating a nutritious diet, taking necessary medication to treat illnesses, going on wellness trips, taking part in therapies to maintain mental health, and getting adequate rest. Furthermore, it involves leaving behind toxic work cultures, choosing a career that allows a proper work-life balance, connecting with people on a trustworthy level, focusing on financial improvement, and engaging in spiritual practices. Additionally, it provides individuals with the opportunity to explore their intellectual side, as well as deepen their spiritual connections. It also gives them the power to make a difference in the quality of their lives and prevent serious health issues. Due to this, there is a growing demand for health and wellness programs across the globe.

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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 increasing inclination of young individuals to invest in personalized life coaching and health and wellness programs to remain healthy and reach their life ambitions. Along with this, the rising cases of various chronic diseases, such as diabetes, obesity, arthritis, thyroiditis, and cardiovascular conditions, caused by a sedentary lifestyle among the masses are also fueling the market.

In addition, the increasing number of corporate companies providing health and wellness services in their employee wellness programs to improve their staff's productivity and deliver a comprehensive work experience is propelling the market. Furthermore, the escalating use of smart wearable devices, such as fitness bands, to track calories, count steps, and enhance daily workouts is creating a positive market outlook. Some of the other factors driving the market include the rising use of spas and the high consumption of functional food and beverages for personal care.

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Key Market Segmentation:

Leading Health and Wellness Companies Worldwide:

• Amway Corp.
• Bayer AG
• Danone
• David Lloyd Leisure Ltd.
• Fitness First
• Herbalife Nutrition Ltd.
• Holland & Barrett Retail Limited
• L'Oréal SA
• Nestlé SA
• Procter & Gambl
• Unilever
• Vitabiotics Ltd. etc.

Breakup by Product Type:

• Functional Foods and Beverages
• Beauty and Personal Care Products
• Preventive and Personalized Medicinal Products
• Others

Breakup by Functionality:

• Nutrition & Weight Management
• Heart & Gut Health
• Immunity
• Bone Health
• Skin Health
• Others

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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This release was published on openPR.