Health and Wellness Market Sets New Record, Projected at USD 12.9 Trillion, Globally, by 2031 at 10.9% CAGR

Allied Market Research has published a study report with the title Health and Wellness Market Size Was Valued at USD 4,712.5 billion in 2021 And is Projected to Garner USD 12,850.3 billion by 2031, registering a CAGR of 10.9% from 2022 to 2031. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.

๐–๐ก๐š๐ญ ๐š๐ซ๐ž ๐ญ๐ก๐ž ๐๐ซ๐ข๐ฏ๐ข๐ง๐  ๐Ÿ๐š๐œ๐ญ๐จ๐ซ๐ฌ ๐Ÿ๐จ๐ซ ๐ญ๐ก๐ž ๐‡๐ž๐š๐ฅ๐ญ๐ก ๐š๐ง๐ ๐–๐ž๐ฅ๐ฅ๐ง๐ž๐ฌ๐ฌ ๐Œ๐š๐ซ๐ค๐ž๐ญ?

Increased consumer expenditure on a wide range of health and wellness products and services across the globe is boosting market growth. The rising burden of mental and physical diseases such as cancer, depression, anxiety, and a variety of others has played a big part in the growth of the health and wellness sector. By Product Type, the beauty & personal care products segment held the highest share in 2021. By region, Asia-Pacific would showcase the fastest CAGR by 2031.

๐†๐ž๐ญ ๐’๐š๐ฆ๐ฉ๐ฅ๐ž ๐๐ƒ๐… ๐‘๐ž๐ฉ๐จ๐ซ๐ญ ๐ฐ๐ข๐ญ๐ก ๐†๐ซ๐š๐ฉ๐ก๐ฌ ๐š๐ง๐ ๐…๐ข๐ ๐ฎ๐ซ๐ž๐ฌ ๐‡๐ž๐ซ๐ž:

Impact of COVID-19 on the Health and Wellness Market-

  • The COVID-19 pandemic had a positive impact on the health and wellness market. During the pandemic, an increasing number of customers emphasize their mental and physical health. Furthermore, during this terrifying time, health and wellness products provide customers with a sense of individual control and help in the development of inner calm.
  • However, COVID-19 increased the sales of health and wellness goods by re-prioritizing consumer values, which included an increased significance on health in a holistic manner. Wellness has developed into a lifestyle rather than an occasional activity, including many sectors of the consumerโ€™s everyday life.

๐“๐จ๐ฉ ๐Š๐ž๐ฒ ๐๐ฅ๐š๐ฒ๐ž๐ซ๐ฌ ๐จ๐Ÿ ๐‡๐ž๐š๐ฅ๐ญ๐ก ๐š๐ง๐ ๐–๐ž๐ฅ๐ฅ๐ง๐ž๐ฌ๐ฌ ๐Œ๐š๐ซ๐ค๐ž๐ญ

  • Abbott
  • Braun Melsungen AG
  • Lโ€™Orรฉal
  • Nestlรฉ
  • General Mills Inc.
  • Omron Healthcare, Inc.
  • Medtronic
  • Koninklijke Philips N.V.
  • LifeScan
  • Animas LLC
  • Johnson & Johnson Services, Inc.
  • The Coca-Cola Company
  • Hoffmann-La Roche Ltd.

๐†๐ฅ๐จ๐›๐š๐ฅ ๐‡๐ž๐š๐ฅ๐ญ๐ก ๐š๐ง๐ ๐–๐ž๐ฅ๐ฅ๐ง๐ž๐ฌ๐ฌ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐ฌ๐ž๐ ๐ฆ๐ž๐ง๐ญ๐š๐ญ๐ข๐จ๐ง

The global Health and Wellness Market is analyzed across Product Type, and region. The report takes in an exhaustive analysis of the segments and their sub-segments with the help of tabular and graphical representation. Investors and market players can benefit from the breakdown and devise stratagems based on the highest revenue-generating and fastest-growing segments stated in the report.

By Product Type, the Beauty and personal Care Products segment held the largest share in 2021, garnering around one-fourth of the global Health and Wellness Market revenue, and is projected to maintain its dominance by 2031. The Health & Wellness Food segment, on the other hand, would showcase the fastest CAGR of 11.6% during the forecast period.

By region, Asia-Pacific held the major share in 2021, garnering nearly half of the global Health and Wellness Market revenue. The same region would also showcase the fastest CAGR of 11.3% from 2022 to 2031. The other provinces studied through the report include Europe, North America, and LAMEA.

What are the health and wellness Industry Trends?

  • Personalization and Customization: Consumers were showing an increased interest in personalized health and wellness solutions. This includes personalized nutrition plans, fitness routines, and even personalized supplementation based on individual needs and preferences.
  • Digital Health and Wellness: The integration of technology into health and wellness was on the rise. This included wearable fitness trackers, health monitoring apps, telemedicine services, and virtual fitness classes.
  • Mental Health Focus: Mental health was gaining significant attention, leading to increased awareness, reduced stigma, and a growing demand for mental health services and apps designed to provide tools for managing stress, anxiety, and other mental health challenges.
  • Holistic Approach: People were increasingly looking for holistic approaches to health, focusing on overall well-being rather than just physical health. This included practices like mindfulness, meditation, yoga, and alternative therapies.
  • Plant-Based and Functional Foods: The popularity of plant-based diets and functional foods was rising, driven by concerns about environmental sustainability, animal welfare, and the potential health benefits of consuming more plant-based and nutrient-dense foods.
  • Wellness Tourism: Travel experiences centered around health and wellness were gaining traction. Wellness retreats, destination spas, and fitness vacations were becoming popular among those seeking relaxation and rejuvenation.
  • Fitness Beyond Gyms: With the growth of remote work and changing lifestyles, people were exploring different ways to stay active outside of traditional gym settings. This included outdoor activities, home workouts, and online fitness communities.

๐๐ฎ๐ซ๐œ๐ก๐š๐ฌ๐ž ๐ญ๐ก๐ž ๐‘๐ž๐ฉ๐จ๐ซ๐ญ:

Our Market Research Solution Provides You Answer to Below Mentioned Question:

  • Which are the driving factors responsible for the growth of market?
  • Which are the roadblock factors of this market?
  • What are the new opportunities, by which market will grow in coming years?
  • What are the trends of this market?
  • Which are main factors responsible for new product launch?
  • How big is the global & regional market in terms of revenue, sales and production?
  • How far will the market grow in forecast period in terms of revenue, sales and production?
  • Which region is dominating the global market and what are the market shares of each region in the overall market in 2022?
  • How will each segment grow over the forecast period and how much revenue will these segments account for in 2030?
  • Which region has more opportunities?

By Region Outlookย 

  • North America
    (U.S., Canada, Mexico)
  • Europe
    (Germany, France, UK, Italy, Spain, Rest of Europe)
  • Asia-Pacific
    (Japan, China, India, Rest of Asia-Pacific)
    (Brazil, Saudi Arabia, South Africa, Rest of LAMEA)

Contact Details:

David Correa
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[email protected]

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