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Global Health and Wellness Market Size, Share, Forecast: By Product Type: Beauty and Personal Care Products, Functional Foods and Beverages, Preventive and Personalised Medicinal Products, Others; By Functionality: Heart and Gut Health, Nutrition and Weight Management, Others; Regional Analysis; Competitive Landscape; 2024-2032
Global Health and Wellness Market Outlook
The global health and wellness market size reached around USD 3.78 trillion in 2023. It is projected to reach around USD 5.45 trillion by 2032, growing at a CAGR of 4.1% between 2024-2032.
Key Trends in the Market
Health refers to the optimal state of mental, social, and physical well-being, whereas wellness refers to the active pursuit of health. Health and wellness are two of the most imperative aspects of human life. Both health and wellness play a significant growth in encouraging personal growth and development and promoting healthy relationships.
- According to the World Health Organisation (WHO), the global expenditure on health to GDP percentage was more than 7% in 2020. Customers are extensively spending on products and solutions that can improve their nutrition, mindfulness, fitness, sleep, appearance, and health.
- The health and wellness market growth can be attributed to the rising disposable incomes of the working population and the increasing prevalence of various health-related issues, hence surging spending on personal wellness and health-related products. Moreover, self-care is emerging as a prominent trend amid the growing costs of healthcare and the rising emphasis on preventative healthcare.
- The robust growth of the functional foods and health products market amid the growing focus on immune health is positively impacting the health and wellness market demand. Companies are also attempting to manufacture products such as supplements, oral solutions, gummies, and herbal products, among others, that can stimulate immune health.
For instance, in December 2022, Herbalife Nutrition announced the launch of its new supplement, Immunoturmeric, in the Asia Pacific to promote a healthy immune system.
- The health and wellness market expansion is being fuelled by the rising prioritisation of mental health amid the growing incidences of anxiety, depression, stress, and burnout. This is also likely to surge the focus on self-care, exercise, mindful eating, and ageing with wellness, among others, in the forecast period. Besides, supplements and vitamins that can improve sleep quality and boost overall health are gaining popularity.
- Personalisation is expected to emerge as a significant trend in the health and wellness market development in the coming years. Key players are also attempting to leverage innovative technologies to address the health concerns, needs, and preferences of customers by providing solutions and content that can directly address their individual circumstances.
Health and Wellness Market Segmentation
Based on product type, the market is segmented into beauty and personal care products, functional food and beverages, and preventive and personalised medicinal products, among others. On the basis of functionality, the market can be divided into heart and gut health, nutrition and weight management, immunity, bone health, and skin health, among others. The major regional markets for health and wellness are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the health and wellness market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.
- Amway Corp.
- Bayer AG
- Nestlé S.A.
- L'Oréal S.A.
- Danone S.A.
- David Lloyd Leisure Ltd.
- Procter & Gamble Co.
- Unilever plc
- The Estée Lauder Companies Inc.
- Abbott Laboratories
- Others
Market Share by Product Type
As per the health and wellness market analysis, beauty and personal care products are witnessing significant demand due to the growing focus on skin and hair health and rising hygiene consciousness. With growing environmental consciousness, there is an increasing preference for organically produced and sulphate and paraben-free beauty and personal care products made from active ingredients like vitamin C, peptides, ceramides, retinols, and sun blocks, among others.
Moreover, increasing ageing population is anticipated to surge the interest in treatments such as botox, microneedling, and dermabrasion, among others, in the forecast period. Technological advancements and innovations, the introduction of virtual try-ons, the rising disposable incomes of working women, and the proliferation of online marketplaces are also aiding the segment’s growth.
Market Share by Region
North America holds a significant portion of the health and wellness market share. The United States, notably, is growing at a healthy pace amidst the growing trend of mindfulness and increasing interest in personalised beauty and nutrition. Innovations by key players, the robust growth of the wearable technology market, and the flourishing functional foods and beverages market are also positively impacting the market in the United States.
In the forecast period, growing investments in digital health start-ups, coupled with increasing importance of celebrities and influencer marketing, are likely to aid the market in the coming years. Meanwhile, the Asia Pacific is expected to witness a healthy growth in the forecast period due to the growing economic development, the proliferation of spas and retreats, the thriving medical tourism, and the expansion of the preventative healthcare market.
Competitive Landscape
Amway Corp, founded in 1959, is an American marketing company that manufactures and sells health, beauty, and home care products. The company also deals in energy drinks and sports energy bars to promote an active and healthy lifestyle.
Bayer AG is a German multinational pharmaceutical and biotechnology company and is one of the largest pharmaceutical companies in the world. It deals in over 170 consumer health brands and cover the areas of dermatology, nutritional supplements, pain management, cardiovascular risk prevention, digestive health, cough, cold and allergy care.
L'Oréal S.A., a French personal care company headquartered in Clichy, France. Founded in 1909, it is one of the world’s largest cosmetic companies. The company has developed distinct product ranges such as hair color, skin care, sun protection, make-up, and perfume. Its products are intended to fight acne and ageing while promoting healthy skin.
Other key health and wellness market players are Nestlé S.A., Danone S.A., David Lloyd Leisure Ltd., Procter & Gamble Co., Unilever plc, The Estée Lauder Companies Inc., and Abbott Laboratories, among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2017-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Product Type |
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| Breakup by Functionality |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Health and Wellness Market Analysis
8.1 Key Industry Highlights
8.2 Global Health and Wellness Historical Market (2017-2023)
8.3 Global Health and Wellness Market Forecast (2024-2032)
8.4 Global Health and Wellness Market by Product Type
8.4.1 Beauty and Personal Care Products
8.4.1.1 Historical Trend (2017-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Functional Foods and Beverages
8.4.2.1 Historical Trend (2017-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Preventive and Personalised Medicinal Products
8.4.3.1 Historical Trend (2017-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.4 Others
8.5 Global Health and Wellness Market by Functionality
8.5.1 Heart and Gut Health
8.5.1.1 Historical Trend (2017-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Nutrition and Weight Management
8.5.2.1 Historical Trend (2017-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Immunity
8.5.3.1 Historical Trend (2017-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Bone Health
8.5.4.1 Historical Trend (2017-2023)
8.5.4.2 Forecast Trend (2024-2032)
8.5.5 Skin Health
8.5.5.1 Historical Trend (2017-2023)
8.5.5.2 Forecast Trend (2024-2032)
8.5.6 Others
8.6 Global Health and Wellness Market by Region
8.6.1 North America
8.6.1.1 Historical Trend (2017-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Europe
8.6.2.1 Historical Trend (2017-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Asia Pacific
8.6.3.1 Historical Trend (2017-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Latin America
8.6.4.1 Historical Trend (2017-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Middle East and Africa
8.6.5.1 Historical Trend (2017-2023)
8.6.5.2 Forecast Trend (2024-2032)
9 North America Health and Wellness Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2017-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2017-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Health and Wellness Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2017-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2017-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2017-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2017-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Health and Wellness Market Analysis
11.1 China
11.1.1 Historical Trend (2017-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2017-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2017-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2017-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2017-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Health and Wellness Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2017-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2017-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2017-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Health and Wellness Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2017-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2017-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2017-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2017-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Amway Corp.
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Bayer AG
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Nestlé S.A.
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 L'Oréal S.A.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Danone S.A.
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 David Lloyd Leisure Ltd.
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Procter & Gamble Co.
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Unilever plc
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 The Estée Lauder Companies Inc.
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Abbott Laboratories
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Health and Wellness Market: Key Industry Highlights, 2017 and 2032
2. Global Health and Wellness Historical Market: Breakup by Product Type (USD Trillion), 2017-2023
3. Global Health and Wellness Market Forecast: Breakup by Product Type (USD Trillion), 2024-2032
4. Global Health and Wellness Historical Market: Breakup by Functionality (USD Trillion), 2017-2023
5. Global Health and Wellness Market Forecast: Breakup by Functionality (USD Trillion), 2024-2032
6. Global Health and Wellness Historical Market: Breakup by Region (USD Trillion), 2017-2023
7. Global Health and Wellness Market Forecast: Breakup by Region (USD Trillion), 2024-2032
8. North America Health and Wellness Historical Market: Breakup by Country (USD Trillion), 2017-2023
9. North America Health and Wellness Market Forecast: Breakup by Country (USD Trillion), 2024-2032
10. Europe Health and Wellness Historical Market: Breakup by Country (USD Trillion), 2017-2023
11. Europe Health and Wellness Market Forecast: Breakup by Country (USD Trillion), 2024-2032
12. Asia Pacific Health and Wellness Historical Market: Breakup by Country (USD Trillion), 2017-2023
13. Asia Pacific Health and Wellness Market Forecast: Breakup by Country (USD Trillion), 2024-2032
14. Latin America Health and Wellness Historical Market: Breakup by Country (USD Trillion), 2017-2023
15. Latin America Health and Wellness Market Forecast: Breakup by Country (USD Trillion), 2024-2032
16. Middle East and Africa Health and Wellness Historical Market: Breakup by Country (USD Trillion), 2017-2023
17. Middle East and Africa Health and Wellness Market Forecast: Breakup by Country (USD Trillion), 2024-2032
18. Global Health and Wellness Market Structure
Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 3.78 trillion.
The market is projected to grow at a CAGR of 4.1% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032, reaching a value of around USD 5.45 trillion by 2032.
The major market drivers are rising consumer awareness regarding health and fitness, surge in ageing population, and growing concerns regarding mental health issues.
The key trends of the market include growing consumer spending on health and wellness products, rising disposable incomes of the working population, rising consumption of functional foods, multivitamins and supplements, rising trend of personalisation, and advancements of technologies.
The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Various product types are beauty and personal care products, functional food and beverages, and preventive and personalised medicinal products, among others.
The key players in the market are Amway Corp., Bayer AG, Nestlé S.A., L'Oréal S.A., Danone S.A., David Lloyd Leisure Ltd., Procter & Gamble Co., Unilever plc, The Estée Lauder Companies Inc., and Abbott Laboratories, among others.
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