Health and Wellness Market Size, Share, Trends, Growth and Forecast 2030

Health and Wellness Industry Prospective:

The global health and wellness market size was evaluated at $5,244 billion in 2022 and is slated to hit $8,946 billion by the end of 2030 with a CAGR of nearly 6.9% between 2023 and 2030.

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Health and Wellness Market: Overview

Health & Wellness is a term that encompasses a slew of services, product offerings, and techniques that help individuals retain fitness. Moreover, the health & wellness of an individual means the emotional, social, and mental well-being of that individual. A prominent increase in the end-user expenditure on health & wellness products & services globally has provided impetus to the growth of the health & wellness business.  

Key Insights

• As per the analysis shared by our research analyst, the global health and wellness market is projected to expand annually at the annual growth rate of around 6.9% over the forecast timespan (2023-2030)
• In terms of revenue, the global health and wellness market size was evaluated at nearly $5,244 billion in 2022 and is expected to reach $8,946 billion by 2030.
• The global health and wellness market is anticipated to grow rapidly over the forecast timeline owing to growing awareness about health & fitness activities to reduce disorders such as depression and anxiety.
• In terms of type, the physical activity segment is slated to register the highest CAGR over the forecast period.
• Region-wise, the Asia-Pacific health and wellness industry is projected to register the fastest CAGR over the assessment timeline.

Request Free SampleHealth and Wellness Market: Growth Factors

Rising awareness about healthy living to boost the growth of the market globally by 2030

Growing awareness about health & fitness activities to reduce disorders such as depression and anxiety will steer the expansion of the health and wellness market globally. A surge in the incidences of mental disorders such as anxiety and depression in individuals is likely to result in a huge demand for health & wellness products, thereby contributing noticeably towards global market earnings.

In addition to this, an increase in the per capita income and growing awareness about the benefits offered by health & wellness products will spearhead the expansion of the global market. Large-scale government spending on creating strong healthcare infrastructure facilities and a growing inclination towards healthy & active lifestyles are a few of the growth drivers of the global market. The surging female population and demand for anti-aging products will foster the growth of the market globally. Escalating demand for functional food & beverages as well as healthy & nutritive diets will embellish the global market trends.  

Health and Wellness Market: Restraints

Huge prices of healthcare products can hinder the growth of the industry globally

High costs of healthcare products & services can put brakes on the expansion of the global health and wellness industry. Moreover, health hazards such as skin irritation caused due to chemical ingredients used in preparing hand sanitizers can hinder the growth of the global industry.  

Health and Wellness Market: Opportunities

Rising consciousness about health & hygiene will open new growth avenues for the global market   

Growing awareness about personal hygiene along with sedentary lifestyles will pave the way for humungous demand for health and wellness products, thereby offering new growth opportunities for the global health and wellness market. The thriving wellness tourism sector will prompt the expansion of the global market. Lower healthcare costs can help in drawing a profitable growth graph for the global market.

Health and Wellness Market: Challenges

Huge costs of health risk assessment can prove to be a huge challenge for the global industry

Corporate health & wellness solutions such as health risk assessment & fitness need more investments, thereby forcing corporate firms to cut costs on these activities. This, in turn, can create hurdles in the growth of the health and wellness industry.  

Health and Wellness Market: Segmentation

The global health and wellness market is sectored into sector and region segments.                                                      

In terms of sector, the health and wellness market across the globe is segregated into personal care & beauty, fitness equipment, health & wellness, anti-aging, physical activity, and wellness tourism segments. Furthermore, the physical activity segment, which acquired nearly 75% of the global market profits in 2022, is expected to record the highest cumulative annual growth rate during the forecast timespan. Moreover, the segmental surge over the coming eight years can be subject to an increase in the physical fitness activities in gymnasiums. In addition to this, a surge in sports and recreation activities will proliferate the segmental surge.

Health and Wellness Market: Report Scope

Health and Wellness Market: Regional Insights

North America is set to maintain its leading position in the global health and wellness market in the assessment timeline

North America, which contributed to nearly half of the global health and wellness market earnings in 2022, will be the leading region in the upcoming years. Moreover, the market growth in the sub-continent over the forecast timeline can be credited to a rise in the health consciousness among the people of countries such as Canada and the U.S. Apart from this, growing demand for wellness and healthcare products will enlarge the scope of the market demand in North America. In addition to this, a surge in the millennial population suffering from chronic disorders and rapid adoption of healthy lifestyles along with a high focus on physical activities in the open gym will steer the regional market trends.    

The Asia-Pacific health and wellness industry is set to record the fastest CAGR in the forecast timeline. The growth of the industry in the APAC zone over the period from 2023 to 2030 can be due to rising awareness about obesity along with the rise in the promotion of benefits of physical activities & sports events by various governments in the region. Apart from this, the presence of strong healthcare infrastructure facilities and medical systems in countries such as India, China, Japan, South Korea, and Taiwan will scale up the growth of the industry in the Asia-Pacific region.  

Key Developments

• In May 2022, Halesaga, a medical supply store based in India, introduced new health & wellness products offered at nearly 70% discount along with a 5% discount on prepaid orders.
• In October 2023, Ayana Bio, a plant technology firm manufacturing bioactive products for customers, introduced three new health & wellness ingredients and extended its plant cell advantage product line. Such initiatives are likely to boost the demand for health and fitness products globally.

Health and Wellness Market: Competitive Space

The global health and wellness market profiles key players such as:

• Abbott Laboratories
• Amway Corp.
• The Estée Lauder Companies Inc.
• THE BOUNTIFUL COMPANY
• Grand Resort Bad Ragaz
• L'Oréal S.A.
• BioThrive Sciences
• COMO Hotels and Resorts
• Herbalife Nutrition Ltd.
• Lift Brands
• BodyHoliday Saint Lucia
• Anytime Fitness LLC
• Unilever plc
• Healing Holidays (Cleveland Travel Ltd.)
• SOUKYA International Holistic Health Centre.

The global health and wellness market is segmented as follows:

By Sector

• Personal Care & Beauty
• Anti-Aging
• Health & Wellness
• Fitness Equipment
• Physical Activity
• Wellness Tourism

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa