NEW YORK, Dec. 15, 2021 /PRNewswire/ -- Health and Wellness Market Facts at a Glance-
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According to the recent market study by Technavio, the Health and Wellness Market Size is expected to increase by USD 1.39 trillion from 2020 to 2025, with an accelerated CAGR of 6.29%. The report provides a detailed analysis of drivers & opportunities, top winning strategies, competitive scenario, future market trends, market size & estimations, and major investment pockets.
APAC will register the highest growth rate of 34% among the other regions. China is the key market for health and wellness in APAC. The market growth in this region will be faster than the growth of the market in other regions.
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Vendor Insights-
The health and wellness market is fragmented and is characterized by the presence of several small and large global and regional players. Vendors are continuously launching new products, including products with natural ingredients to remain competitive. Some are increasing their marketing efforts and offering discounts and customer benefits to expand their presence and generate revenue. Here are some examples on the recent developments among vendors in the market.
Bayer AG - The company offers health and wellness products such as Claritin, Xarelto, and Afrin. In May 2021, the company collaborated with Alexander von Humboldt Foundation for research.
Beiersdorf AG - The company offers health and wellness products brands such as Coppertone, Hidrofugal, and SKIN STORIES.
Danone SA - The company offers health and wellness products brands such as Alpro, Silk, and Font Vella. In June 2021, the company acquired Lily, the high-growth maker of low-sugar, better for you.
Nestle SA - The company offers health and wellness products brands such as BOOST, Peptamen, and Nutren JUNIOR. In October 2020, the company acquired Aimmune Therapeutics, a Nestle Health Science company. In August 2021, the company acquired core brands of Bountiful such as Solgar, Osteo Bi-Flex, and Sundown.
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Regional Market Outlook
The health and wellness market share growth in APAC will be significant during the forecast period. The rising prevalence of chronic lifestyle diseases, diabetes, blood pressure, asthma, arthritis, cancer, dementia, and other stress-related disorders has been crucial in driving the market growth. The growing awareness about health among consumers has been encouraging global vendors to enter the market and tap the growth potential. All these factors are fostering the growth of the health and wellness market in APAC.
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Latest Drivers & Trends Driving the Market-
Improvements in the economic conditions across countries worldwide have given the liberty to lower and middle-income consumer groups to spend more on health and well-being. This is encouraging vendors in the market to launch health coaching, giveaway campaigns, and events centered around self-care, nutrition, and well-being. It is also enabling vendors to capture large volumes of consumers and use them for effective marketing strategies. All these factors are driving the growth of the global health and wellness market.
The prevalence of disorders such as rheumatism, circulation disorders, improved joint health, spinal column ailments, bronchitis, and asthma is on the rise globally. This has increased the demand for thermal and mineral springs and spas to treat such physical and mental conditions. The demand for such services is increasing in both developed and developing regions such as North America, Europe, and Asia. In addition, the rising disposable incomes of consumers are expected to further drive the demand for thermal and mineral springs and spas, thereby driving the market growth.
Find additional information about various other market Drivers & Trends mentioned in our FREE sample report.
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Health And Wellness Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.29% |
Market growth 2021-2025 |
USD 1.39 Trillion |
Market structure |
Fragmented |
YoY growth (%) |
6.16 |
Regional analysis |
North America, Europe, APAC, MEA, and South America |
Performing market contribution |
APAC at 34% |
Key consumer countries |
US, UK, Germany, China, and France |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
Bayer AG, Beiersdorf AG, Core Health and Fitness LLC, Danone SA, General Mills Inc., Johnson Health Tech Inc., Nestle SA, PepsiCo Inc., Shiseido Co. Ltd., and The Procter and Gamble Co. |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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Technavio Research
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Website: www.technavio.com/
SOURCE Technavio
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