Global Health Wellness Market Anticipated to Grow at a CAGR of 4% during 2020-25
by Rahul Rastogi Market Research AnalystAs per
the latest report by IMARC Group, titled “Health Wellness Market
Report: Global Industry Trends, Share, Size, Growth, Opportunity and
Forecast 2020-2025” the global health and wellness market size is
expanding at a moderate rate. Health and wellness refer to the state of
complete physical, emotional and mental well-being of an individual. They are
achieved by living a healthy lifestyle, which includes regular exercising and
avoiding or limiting the consumption of junk food. Some of their major aspects
are fitness, nutrition, personal care, weight management and preventive
medicines. At present, the sales of health and wellness products are increasing
across the globe owing to the inflating income levels and rising health
concerns, such as chronic diseases, overweight, low stamina and mood swings.
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Global
Health and Wellness Market Trends:
On
account of rapid urbanization, sedentary lifestyles, hectic schedules and
increasing consumption of junk food, there is a significant rise in the prevalence
of chronic diseases, which include cancer, diabetes, asthma, arthritis,
dementia, hypertension, and other stress-related disorders. This has encouraged
the adoption of various healthcare activities, such as yoga and meditation,
among the masses. Apart from this, the growing popularity of wearable devices
like fitness trackers, in confluence with the burgeoning wellness tourism
sector, is also contributing to the health and wellness market growth.
Spa operators nowadays are utilizing specialized therapeutic waters, such
as iodine-bromine and Malkinskaya mineral water, to treat asthma, bronchitis,
rheumatism, circulation disorders, spinal column ailments and cardiovascular
ailments. This is anticipated to fuel the market growth in the coming years. Looking
forward, the market is projected to expand at a CAGR of around 4% during the
forecast period (2020-2025).
Market
Summary:
- Based on the product type,
the market has been segmented into functional foods and beverages, beauty
and personal care products, preventive and personalized medicinal
products, fitness equipment, and others.
- On the basis of the
functionality, the market has been segregated into nutrition and weight
management, heart and gut health, immunity, bone health, skin health, and
others.
- Region-wise, the market has
been divided into North America (the United States and Canada); Europe
(Germany, France, the United Kingdom, Italy, Spain, Russia and others);
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and
others); Latin America (Brazil, Mexico, Argentina, Columbia, Chile, Peru
and others); and Middle East and Africa (Turkey, Saudi Arabia, Iran, the
United Arab Emirates and others).
- The competitive landscape of
the market has been examined, with some of the key players being Amway
Corporation, Bayer AG, Brunswick Corporation, Danone SA, David Lloyd
Leisure Ltd., Fitness First Clubs Limited, Herbalife International of
America, Inc., Holland & Barrett Retail Limited, LA Fitness
International LLC, L'Oréal S.A., Nestlé S.A., Procter & Gamble Company
(P&G), Unilever Plc, Virgin Active Ltd. and Vitabiotics Ltd.
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Created on Mar 13th 2020 07:15. Viewed 329 times.