Top Companies in the Global Health and Wellness Market

The global health and wellness market was valued at USD 3.78 trillion in 2023. The market is expected to grow at a CAGR of 4.1% during the forecast period of 2024-2032, with the values likely to reach USD 5.45 trillion by 2032. The market growth can be driven by increasing emphasis on improving physical and mental health across the globe.

Health and wellness cover physical, mental, and social aspects, encouraging ideal functioning and active lifestyles for overall health. Physical health benefits include lower chronic disease risks and increased lifespan with regular exercise, proper nutrition, and sufficient sleep. The beauty and personal care industry contributes to our physical health. Maintaining good mental health is crucial for handling stress, nurturing connections, and achieving clear thinking. Social well-being includes having strong support systems and feeling connected to others. These elements affect individuals' thoughts, emotions, and behaviors, impacting their capability to manage stress and make choices.

 
The market for health and wellness is influenced because consumers are increasingly seeking products that support healthy aging and long life. Healthcare costs are increasing, causing consumers to spend more on nutrition, fitness, and other health remedies. The COVID-19 pandemic has highlighted the significance of immunity, leading to the increased development of functional foods and health products. Companies are diversifying their product lines to meet the needs of a broader customer base, increasing overall demand in the market.

For instance, in January 2024, Abbott launched PROTALITY™, a protein shake with high protein content, designed for busy people looking to lose weight and promote active lifestyles globally. In January 2024, Garmin introduced the Lily® 2 series, petite smartwatches with advanced health and wellness features.

Let’s explore the profile of top companies leading the Global Health and Wellness Market in 2024.

1.    Amway Corp.
 

Amway Corp. is a United States-based company specializing in the sale of health, beauty, and home care items, such as energy drinks and sports bars. Amway (Malaysia) initiated a "Gut Reset-Weight Management " campaign in March 2023 to encourage a healthy lifestyle in response to the increasing prevalence of non-communicable diseases.

2.    Bayer AG
 

Bayer AG, a leading company in healthcare, is known globally for its consumer health brands and is based in Germany. Their areas of focus include dermatology, nutritional supplements, pain management, cardiovascular risk prevention, digestive health, cough, cold, and allergy care. In December 2023, Bayer collaborated with Salus Optima to offer accurate AI enabled healthcare options for elderly communities.

3.    Danone S.A
 

Danone S.A. is a French multinational food-products corporation. In May 2024, the company invested EUR 70 million in a new production line in France. The company will use this investment to produce 30 formulas of oral nutritional supplements under Nutricia at the Steenvoorde site.

4.    David Lloyd Leisure Ltd.
 

David Lloyd Leisure Limited owns and operates a chain of health and fitness clubs. The company has a portfolio of health, fitness, and racquet facilities. They comprise of squash, tennis, and badminton courts. Playing such sports is enjoyable as well as a beneficial way to boost physical and promote mental well-being.

5.    L'Oréal S.A.
 

L'Oréal S.A. is a French company based in Clichy, France, specializing in personal care products like hair color, skincare, sun protection, makeup, and perfume. In February 2024, they showcased their latest products at CES 2024, highlighting beauty technology and AI-powered innovations like Colorsonic, a handheld hair coloring device.

6.    Nestlé S.A.
 

Nestlé S.A. is a French personal care corporation. Their selection includes a variety of cosmetic items such as hair dye, skincare products, sunblock, makeup, and fragrances. Nestlé Acquired Novartis  Medical Nutrition to move toward nutrition, health, and wellness. In October 2023, the company gathered USD 690,000 for the Nestlé Health Science Foundation to promote better lifestyles for communities.

7.    Procter & Gamble Co.

Procter & Gamble Co. also known as P&G Health which is a subsidiary of Procter & Gamble Overseas India BV, manufactures and markets pharmaceuticals including over-the-counter items, minerals, vitamins, and supplements. In March 2024, P&G Health revealed its plan to enhance its portfolio by focusing on neurotrophic vitamins, as part of a five-year strategy to promote a healthy lifestyle.

8.    The Estée Lauder Companies Inc.
 

The Estée Lauder Companies Inc. is an American multinational cosmetics company, a manufacturer and marketer of makeup, skincare, perfume, and hair care products. In May 2024, The Estée Lauder Companies Inc. completed the acquisition of DECIEM Beauty Group Inc., a Canadian multi-brand company. ELC initially invested in DECIEM in 2017, became the majority owner in 2021, and recently purchased the remaining interests for USD 860 million. DECIEM's commitment to transparency, agility, and innovative skin care products expands ELC's global reach and consumer base.

9.    Unilever plc.
 

Unilever is a global consumer goods company known for popular food, cleaning, and personal care brands. They acquired Liquid I.V., focusing on health-science nutrition. In July 2024, the company announced the sale of Pureit, their water purification business, to A. O. Smith. The company continues to expand globally with its strong presence in nutrition, hygiene, and personal care.