Fort Collins, Colorado, Dec. 05, 2023 (GLOBE NEWSWIRE) -- According to DataHorizzon Research, The Health and Wellness Market size was valued at USD 5,464.2 Billion in 2022 and is expected to arrive at a market size of USD 11,303.3 Billion by 2032 with a CAGR of 7.6%.
In today's fast-paced world, the health and wellness industry is crucial in promoting overall well-being, encompassing mental, emotional, and physical health. This vast industry covers various areas, including nutrition, personal care, fitness, mental health, wellness tourism, and alternative medicine.
Consumer preferences, access to preventive healthcare, and technological advancements significantly influence the market. The increasing consumer demand for products and services that improve health and wellness is driven by the rising prevalence of conditions such as obesity, diabetes, anxiety, depression, cancer, and mental disorders.
The industry offers a wide range of products and services, including dietary supplements, wellness coaching, fitness programs, health monitoring devices, and disease management apps, all aimed at improving health and wellness.
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Segmentation Overview:
The global health and wellness market has been segmented into sector, and region. The global market is dominated by the beauty and personal care products segment. Young people's growing self-consciousness about appearance has increased demand for beauty, personal care, and lifestyle-related products and services. North America leads the health and wellness market with advanced technology industries and startups. Asia Pacific, particularly China and Japan, is expected to grow significantly due to increasing investments and healthcare infrastructure development.
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Health & Wellness Market Report Highlights:
- The global health and wellness market growth is anticipated to have a CAGR of 7.6% by 2032.
- The health and wellness market has been experiencing significant growth, primarily driven by several key factors. These factors include growing awareness among individuals about the criticality of maintaining a healthy lifestyle, the increasing incidence of chronic diseases, and the advancements in wearable technologies.
- North America dominates the global health and wellness market with established fitness centers, gyms, spas, wellness resorts, and health clubs that offer world-class facilities and services.
- Some prominent players in the health and wellness market report include Bayer AG, Danone, Nestle SA, Unilever Plc, L’Oreal SA, Procter & Gamble, Johnson & Johnson Services, Inc., Abbott Laboratories, Amway Corp, Holland & Barrett Retail Limited, and others.
Industry Trends and Insights:
- Silal and Bayer have partnered to strengthen agriculture in the UAE through capacity-building programs and vegetable seed trials.
- Danone and the Global Methane Hub have partnered to expedite innovation in reducing methane emissions.
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Health & Wellness Market Segmentation:
By Sector: Beauty & Personal Care Products, Wellness Tourism, Physical Activity, Spa Economy, Nutrition & Weight Loss, Preventive & Personalized Medicine & Public Health, Traditional& Complementary Medicine, Others
By Region: North America, Latin America, Europe, Asia Pacific, the Middle East and Africa.
About DataHorizzon Research:
DataHorizzon is a market research and advisory company that assists organizations across the globe in formulating growth strategies for changing business dynamics. Its offerings include consulting services across enterprises and business insights to make actionable decisions. DHR’s comprehensive research methodology for predicting long-term and sustainable trends in the market facilitates complex decisions for organizations.
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