Health and wellness Market Size to Grow by USD 1661.81 Billion From 2022 to 2027, Assessment on Parent Market, Five Forces Analysis, Market Dynamics & Segmentation – Technavio

NEW YORK, Nov. 9, 2022 /PRNewswire/ — The Global Health and Wellness Market share is set to increase by USD 1661.81 billion from 2022 to 2027. In addition, the market’s growth momentum will accelerate at a CAGR of 6.49% as per the latest market forecast report by Technavio. The market will also record a 6.18% Y-O-Y growth Rate during the forecast period.

Technavio has announced its latest market research report titled Global Health and Wellness Market 2023-2027

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Global Health and Wellness Market – Parent Market Analysis

Technavio categorizes the global Health and Wellness Market as a part of the global hotels, restaurants, and leisure market. The parent global hotels, restaurants, and leisure market covers companies engaged in operations such as hotels, restaurants, sports and fitness centers, stadiums, golf courses, and amusement parks. Growth in the global hotels, restaurants, and leisure market will be driven by the increase in disposable income and the growing travel and tourism industry.

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Global Health and Wellness Market Characteristics with Five Forces –

The Global Health and Wellness Market is fragmented and the five forces analysis by Technavio gives the accurate vision –

Bargaining Power of Buyers
The threat of New Entrants
Threat of Rivalry
Bargaining Power of Suppliers
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Global Health and Wellness Market – Customer Landscape
The disruption threats are strategic in nature, and operational risks for suppliers have been mapped based on their negative business impact and probability of occurrence.
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Global Health and Wellness Market – Segmentation Assessment

Geography Segment Overview

Technavio’s market research report entails detailed information on regional opportunities in store for vendors, which will assist in generating sales revenues. The Global Health and Wellness Market as per geography is categorized into North America, APAC, Europe, South America, and the Middle East and Africa. The report provides an accurate prediction of the contribution of all regions to the growth of the Global Health and Wellness Market size and actionable market understandings.

Regional Highlights:

North America is the fastest-growing region in the global Health and wellness market compared to other regions. 33% growth will originate from North America. The rising prevalence of chronic lifestyle diseases because of sedentary lifestyles, the prevalence of diabetes, blood pressure, asthma, arthritis, cancer, dementia, and other stress-related disorders has increased significantly in North America. In addition, the availability of spa treatments, anti-aging treatments, and the prevalence of a large fitness-conscious population are other major factors contributing to the health and wellness expenditure in this region.

Type Segment Overview

The Global Health and Wellness Market as per product type segmentation is categorized into Beauty and personal care products, Health and wellness food, Wellness tourism, Fitness equipment, and Preventive and personalized health.
Revenue Generating Segment – The Health and Wellness market share growth by the beauty and personal care products segment will be significant during the forecast period. The segment includes subcategories such as cosmetics, personal care products such as shower gels, bathing soaps, skincare, haircare, deodorants, anti-aging skin creams, and other products. The increasing number of online beauty and personal care online retail stores is fueling the growth of the segment. The preference for organic and natural beauty and personal care products will also contribute to the segment’s growth.

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Global Health and Wellness Market – Market Dynamics

Major Driver Boosting the Market

The increasing emphasis on the promotion of health and wellness activities and programs is one of the major drivers in the market. Many health and wellness vendors are leveraging social media channels, such as Twitter and Facebook, to market their products.
This has been effective in spreading the popularity of health and wellness products among consumers.
Key vendors operating in the global health and wellness market use optimized data from data partners to efficiently propagate their health and wellness marketing campaigns on specific consumer demographics.
The rising adoption of health and wellness among all demographics is expected to drive the growth of the market in focus.

Major trends influencing the growth of glamping

The growing popularity of thermal and mineral springs and spas is identified as the major trend in the market. The growth in the number of operating spas has been observed worldwide due to the increasing demand for spa services by consumers.
In regions like Europe, North America, and Asia, spas and health resorts use therapeutic waters sourced from natural thermal/mineral springs. Thermal and mineral springs and spas are more prominent in Europe.
Major spa operators are focusing on using specialized therapeutic waters like Malkinskaya mineral water and iodine-bromine waters to treat cardiovascular conditions. Techniques like hydrosulfuric healing and hydropathic healing are increasingly being adopted by these spas for treating chemical and heat burns and increasing the limited mobility in disabled people.

Major Challenges interrupting the market growth

Frequent product recalls is the major challenge in the market. Product recalls not only bring a bad reputation to any industry but also increase the operational and financial constraints for the companies operating in the market.
In July 2021, Johnson and Johnson Consumer Inc. recalled its NEUTROGENA and AVEENO aerosol sunscreen product due to the presence of benzene. Such instances are expected to hinder the growth of the market in focus.

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Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19-impacted market research reports.

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Health and wellness Market 2023-2027: Key Highlights

CAGR of the market during the forecast period 2023-2027
Detailed information on factors that will assist health and wellness market growth during the next five years
Estimation of the health and wellness market size and its contribution to the parent market
Predictions on upcoming trends and changes in consumer behavior
The growth of the health and wellness market
Analysis of the market’s competitive landscape and detailed information on vendors
Comprehensive details of factors that will challenge the growth of health and wellness market vendors

Related Reports:

The wellness tourism market size is predicted to surge by USD 327.56 billion from 2021 to 2026 at a CAGR of 7.55%. The increase in mental illness is notably driving the wellness tourism market growth, although factors such as the perception of wellness tourism as a luxury travel market may impede the market growth.
The adventure tourism market size is predicted to surge by USD 2.50 trillion from 2021 to 2026 at a CAGR of 38.87%. The increasing disposable incomes is notably driving the adventure tourism market growth, although factors such as low penetration rate in developing economies may impede the market growth.

Health and Wellness Market Scope
Report Coverage	Details
Page number	120
Base year	2022
Forecast period	2023-2027
Growth momentum & CAGR	Accelerate at a CAGR of 6.49%
Market growth 2023-2027	USD 1661.81 billion
Market structure	Fragmented
YoY growth (%)	6.18
Regional analysis	North America, APAC, Europe, South America, and Middle East and Africa
Performing market contribution	North America at 33%
Key consumer countries	US, Canada, China, Japan, Germany, and UK
Competitive landscape	Leading companies, competitive strategies, consumer engagement scope
Companies profiled	adidas AG, Amway Corp., Bayer AG, Beiersdorf AG, Core Health and Fitness LLC, Danone SA, David Lloyd Leisure Ltd., General Mills Inc., Glooko Inc., Herbalife International of America Inc, Johnson Health Tech Co. Ltd., LOreal SA, Nestle SA, Ogilvie and Co., PepsiCo Inc., RSG Group GmbH, Shiseido Co. Ltd., The Procter and Gamble Co., Unilever PLC, and Vitabiotics Ltd.
Market Dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, and 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.

Table of contents:

1 Executive Summary

1.1 Market overview

2 Market Landscape

2.1 Market ecosystem

3 Market Sizing

3.1 Market definition

3.3 Market size 2022

4 Historic Market Size

5 Five Forces Analysis

5.1 Five forces summary

5.6 Threat of rivalry

5.7 Market condition

6 Market Segmentation by Product Type

6.1 Market segments

7 Market Segmentation by Distribution Channel

7.1 Market segments

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

10.1 Market drivers

10.2 Market challenges

10.4 Market trends

11 Vendor Landscape

11.1 Overview

11.2 Vendor landscape

11.4 Industry risks

12 Vendor Analysis

12.1 Vendors covered

12.3 adidas AG

12.4 Amway Corp.

12.5 Bayer AG

12.6 Beiersdorf AG

12.8 Danone SA

12.10 Glooko Inc.

12.12 LOreal SA

12.13 Nestle SA

12.14 PepsiCo Inc.

12.15 Shiseido Co. Ltd.

12.17 Unilever PLC

13 Appendix

13.1 Scope of the report

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