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Muni Kumar Meravath is a seasoned Healthcare Market Research Analyst with over 6 years of experience in the healthc.....
Health and Wellness Market: By Product Type, By Functionality and Geography
Health and Wellness Market: By Product Type, By Functionality and Geography
Health and Wellness market size was valued at US$ 1,347.3 billion in 2023 and is poised to grow at a significant CAGR of 6.5% from 2024-2030. The condition of total well-being of the body, mind, and soul is referred to as health and wellness. Personal care/beauty, nutrition, weight control, exercise, preventive/personalized medicine, and so on are all essential parts of the health and wellness market. The Functional food segment is anticipated to grow at a significant CAGR over the forecast years owing to increased commercialization of these sports nutrients and the availability of a diverse product range, including creatine and whey protein-based functional foods.
Moreover, demand for functional food has increased over the last decade as new products have entered the food sector. Furthermore, the usage of these products by multiple end-users such as sports nutrition, clinical nutrition, and weight management is likely to boost the segment of this market. Moreover, market players are focusing on launching new products and acquisitions to maintain the growth in the market. The increasing prevalence of chronic lifestyle diseases across the globe, rapid urbanization, and rising disposable incomes, coupled with the rise in the number of health-conscious consumers across the globe, are a few factors driving the industry's growth over the forecasting period.
Study Period
2024-2030Base Year
2023CAGR
6.5%Largest Market
North AmericanFastest Growing Market
Asia-Pacific
One of the key causes driving market expansion is the increasing incidence of chronic lifestyle diseases worldwide. Diabetes, high blood pressure, asthma, arthritis, cancer, dementia, and other stress-related ailments are rising because of sedentary lifestyles and demanding schedules. This has encouraged people to participate in health-related activities such as yoga, meditation, and athletics. Furthermore, the growing trend of adopting wearable devices, such as fitness bands and trackers, is boosting the market growth. Moreover, the primary factors expected to impede the growth of the worldwide diagnostic electrocardiograph (DECG) market are a lack of public knowledge regarding the usage of electrographs for the diagnosis of cardiovascular disorders and a paucity of experienced employees to operate electrograph equipment.
The Health and Wellness market in North America is likely to hold the highest revenue share in 2021, and the same trend is expected over the forecast period because of the widespread use of health and wellness services and goods in industrialized nations such as the United States and Canada Furthermore, the rising prevalence of chronic illnesses, as well as key manufacturers boosting the number of product releases in these nations, are expected to fuel market growth throughout the forecast period. Because chronic illnesses are so common
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2024-2030 |
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Market Size in 2023 |
US$ 1,347.3 billion |
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Market CAGR |
6.5% |
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By Product Type |
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By Functionality |
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By Region |
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The health and wellness market size was valued at US$ 1,347.3 billion in 2023
The health and wellness market's key players are: Amway Corp Danone David Lloyd Leisure Ltd. Fitness First Herbalife Nutrition Ltd. Holland & Barrett Retail Limited L'Oral SA Nestl SA, Procter & Gamble Unilever Plc
The health and wellness market has been classified into North America, Asia Pacific, Europe, Latin America, Middle East and Africa, and the rest of MEA.
| 1. Executive Summary |
| 2. Global Health and Wellness Market Introduction |
| 2.1. Global Health and Wellness Market Taxonomy |
| 2.2. Global Health and Wellness Market Definitions |
| 2.2.1. By Product Type |
| 2.2.2. By Functionality |
| 2.2.3. Region |
| 3. Global Health and Wellness Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Global Health and Wellness Market Dynamic Factors - Impact Analysis |
| 3.6. Global Health and Wellness Market Competition Landscape |
| 4. Global Health and Wellness Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 |
| 4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5. Global Health and Wellness Market, By Product Type, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 5.1. Functional Foods and Beverages |
| 5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 5.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. Beauty and Personal Care Products |
| 5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 5.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 5.3. Preventive and Personalized Medicinal Products |
| 5.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 5.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.3.3. Market Opportunity Analysis |
| 5.4. Others |
| 5.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 5.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.4.3. Market Opportunity Analysis |
| 6. Global Health and Wellness Market Forecast, Breakup by Functionality, 2019 - 2023 and Forecast, 2024 - 2030 |
| 6.1. Nutrition & Weight Management |
| 6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 6.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. Heart & Gut Health |
| 6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 6.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 6.3. Immunity |
| 6.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 6.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.3.3. Market Opportunity Analysis |
| 6.4. Bone Health |
| 6.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 6.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.4.3. Market Opportunity Analysis |
| 6.5. Skin Health |
| 6.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 6.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.5.3. Market Opportunity Analysis |
| 6.6. Others |
| 6.6.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 6.6.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.6.3. Market Opportunity Analysis |
| 6.7. Global Health and Wellness Market Forecast, By Region, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 6.8. North America |
| 6.8.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 6.8.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.8.3. Market Opportunity Analysis |
| 6.9. Europe |
| 6.9.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 6.9.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.9.3. Market Opportunity Analysis |
| 6.10. Asia-Pacific |
| 6.10.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 6.10.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.10.3. Market Opportunity Analysis |
| 6.11. Latin America |
| 6.11.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 6.11.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.11.3. Market Opportunity Analysis |
| 6.12. Middle East and Africa |
| 6.12.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 6.12.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.12.3. Market Opportunity Analysis |
| 6.13. Global Health and Wellness Market - Opportunity Analysis Index, By Product Type, Functionality, and Region, 2024 - 2030 |
| 7. North America Health and Wellness Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 7.1. By Product Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 7.1.1. Functional Foods and Beverages |
| 7.1.2. Beauty and Personal Care Products |
| 7.1.3. Preventive and Personalized Medicinal Products |
| 7.1.4. Others |
| 7.2. By Functionality Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 7.2.1. Nutrition & Weight Management |
| 7.2.2. Heart & Gut Health |
| 7.2.3. Immunity |
| 7.2.4. Bone Health |
| 7.2.5. Skin Health |
| 7.2.6. Others |
| 7.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 7.3.1. USA |
| 7.3.2. Canada |
| 7.4. North America Health and Wellness Market - Opportunity Analysis Index, By Product Type, Functionality, and Country, 2024 - 2030 |
| 7.5. North America Health and Wellness Market Dynamics Trends |
| 8. Europe Health and Wellness Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 8.1. By Product Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 8.1.1. Functional Foods and Beverages |
| 8.1.2. Beauty and Personal Care Products |
| 8.1.3. Preventive and Personalized Medicinal Products |
| 8.1.4. Others |
| 8.2. By Functionality Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 8.2.1. Nutrition & Weight Management |
| 8.2.2. Heart & Gut Health |
| 8.2.3. Immunity |
| 8.2.4. Bone Health |
| 8.2.5. Skin Health |
| 8.2.6. Others |
| 8.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 8.3.1. Germany |
| 8.3.2. UK |
| 8.3.3. France |
| 8.3.4. Spain |
| 8.3.5. Italy |
| 8.3.6. Rest of Europe |
| 8.4. Europe Health and Wellness Market - Opportunity Analysis Index, By Product Type, Functionality, and Country, 2024 - 2030 |
| 8.5. Europe Health and Wellness Market Dynamics Trends |
| 9. Asia-Pacific Health and Wellness Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 9.1. By Product Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 9.1.1. Functional Foods and Beverages |
| 9.1.2. Beauty and Personal Care Products |
| 9.1.3. Preventive and Personalized Medicinal Products |
| 9.1.4. Others |
| 9.2. By Functionality Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 9.2.1. Nutrition & Weight Management |
| 9.2.2. Heart & Gut Health |
| 9.2.3. Immunity |
| 9.2.4. Bone Health |
| 9.2.5. Skin Health |
| 9.2.6. Others |
| 9.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 9.3.1. Japan |
| 9.3.2. China |
| 9.3.3. India |
| 9.3.4. ASEAN |
| 9.3.5. Australia & New Zealand |
| 9.3.6. Rest of Asia-Pacific |
| 9.4. Asia-Pacific Health and Wellness Market - Opportunity Analysis Index, By Product Type, Functionality, and Country, 2024 - 2030 |
| 9.5. Asia-Pacific Health and Wellness Market Dynamics Trends |
| 10. Latin America Health and Wellness Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 10.1. By Product Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1. Functional Foods and Beverages |
| 10.1.2. Beauty and Personal Care Products |
| 10.1.3. Preventive and Personalized Medicinal Products |
| 10.1.4. Others |
| 10.2. By Functionality Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 10.2.1. Nutrition & Weight Management |
| 10.2.2. Heart & Gut Health |
| 10.2.3. Immunity |
| 10.2.4. Bone Health |
| 10.2.5. Skin Health |
| 10.2.6. Others |
| 10.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 10.3.1. Brazil |
| 10.3.2. Mexico |
| 10.3.3. Argentina |
| 10.3.4. Rest of Latin America |
| 10.4. Latin America Health and Wellness Market - Opportunity Analysis Index, By Product Type, Functionality, and Country, 2024 - 2030 |
| 10.5. Latin America Health and Wellness Market Dynamics Trends |
| 11. Middle East and Africa Health and Wellness Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 11.1. By Product Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1. Functional Foods and Beverages |
| 11.1.2. Beauty and Personal Care Products |
| 11.1.3. Preventive and Personalized Medicinal Products |
| 11.1.4. Others |
| 11.2. By Functionality Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 11.2.1. Nutrition & Weight Management |
| 11.2.2. Heart & Gut Health |
| 11.2.3. Immunity |
| 11.2.4. Bone Health |
| 11.2.5. Skin Health |
| 11.2.6. Others |
| 11.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 11.3.1. Gulf Cooperation Council (GCC) Countries |
| 11.3.2. Israel |
| 11.3.3. South Africa |
| 11.3.4. Rest of MEA |
| 11.4. MEA Health and Wellness Market - Opportunity Analysis Index, By Product Type, Functionality, and Country, 2024 - 2030 |
| 11.5. MEA Health and Wellness Market Dynamics Trends |
| 12. Competition Landscape |
| 12.1. Strategic Dashboard of Top Market Players |
| 12.2. Company Profiles (Introduction, Financial Analysis, Functionality & Service Offerings, Key Developments, Strategies, and SWOT Analysis) |
| 12.2.1. Amway Corp |
| 12.2.2. Danone |
| 12.2.3. David Lloyd Leisure Ltd. |
| 12.2.4. Fitness First |
| 12.2.5. Herbalife Nutrition Ltd. |
| 12.2.6. Holland & Barrett Retail Limited |
| 12.2.7. L'Oral SA |
| 12.2.8. Nestl SA, |
| 12.2.9. Procter & Gamble |
| 12.2.10. Unilever Plc |
| 12.2.11. Vitabiotics Ltd |
| 13. Research Methodology |
| 14. Key Assumptions and Acronyms |
Key Market Players
Author
Muni Kumar Meravath is a seasoned Healthcare Market Research Analyst with over 6 years of experience in the healthcare domain, encompassing pharmaceuticals, medical devices, and diagnostics. A graduate in Pharmacy, he possesses a strong foundation in the intricacies of the healthcare sector. He further enhanced his expertise by pursuing an MBA in Pharmaceuticals, equipping him with valuable business acumen. His analytical skills and market insights have contributed to strategic decision-making and enhanced market positioning for various healthcare organizations. Committed to driving innovation and excellence, Muni continues to seek opportunities to improve healthcare delivery through data-driven insights.