The COVID-19 outbreak has laid increased emphasis on the importance of health and wellness. However, unprecedented developments in the health and wellness market are being witnessed by stakeholders. For instance, wellness tourism faced a significant revenue impact due to travel restrictions. However, mass inoculation measures and a decline in active coronavirus cases are now catalyzing the demand for staycations coupled with immunity-boosting retreats. Anxiety and stress due to the pandemic are being resolved with holidays in wellness-focused places.
The poor market sentiments on the other hand have caused a slowdown in economic activities in the health & wellness market. Hence, brands in this sector are targeting health-conscious consumers to boost product sales and keep the economies running.
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Beauty and personal care trends such as sustainability and hand care premiumization are translating into revenue opportunities for companies in the health and wellness market. The COVID-19 pandemic has fanned the flames and accelerated the relevance of sustainability in personal care products. Personal care brands are placing emphasis on sustainability by ensuring the eco-friendliness of pop-up store designs and kiosks. Recyclable materials are being used to manufacture personal care bottles and containers.
Since the pandemic has skyrocketed the demand for hand sanitizers, companies in the health and wellness industry are increasing the availability of alcohol-based hand sanitizers. They are developing hand-purifying gels to meet the hygiene needs of consumers. The multi-functional hand care products are gaining prominence in the market.
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The health and wellness market is projected to surpass US$ 6.94 Trn by 2031. However, challenges pertaining to the integration of Big Data, ICT solutions, and shaping of sustainable healthcare are influencing the growth rate of the market. Hence, to tide over these challenges, stakeholders are increasing awareness about the smart use of technology combined with greater participation of patients in the management of their own health.
The recent approval of the U.S. FDA (Food and Drug Administration) for a new tumor-agnostic cancer treatment designed to counteract a specific genetic mutation, as opposed to a specific type of tumor such as breast or colon cancer, is grabbing the attention of stakeholders in the healthcare landscape.
The spa economy is undergoing a critical change with the onset of high-performance ingredients in skin care products and facial kits. Vitamin F, Squalene, and Niacinamide are becoming popular in skincare products. Minimal products in skincare and fundamental skincare practices are becoming a priority in salons and households.
The metallic face tools made of Kansa, an alloy of bronze, copper, and zinc, Jade rollers, and Gua sha coins are being produced by brands in the health & wellness market to facilitate facial muscle toning and training. These beauty tools are gaining popularity as an effective anti-aging weapons for women.
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Analysts’ Viewpoint
Since the COVID-19 pandemic has caused disruptions in the services industry such as spas and salons, brands are increasing marketing of high performance ingredients in personal care products for DIY skincare practices. The highly competitive health and wellness market is estimated to clock a modest CAGR of 5% during the forecast period. This is evident since lack of awareness about personalized medicine and challenges for policymakers to ensure ICT systems obtain patient consent are potentially influencing market growth. Thus, stakeholders in the global market should ensure the smart use of technology and increase R&D for once-in-a-generation medical advancements to boost the efficacy and awareness of personalized medicines.
Health and Wellness Market - Segmentation
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The health and wellness market is projected to surpass US$ 6.94 Trn by 2031
The global market is projected to expand at a CAGR of 5% from 2021 to 2031
The global market for health and wellness is driven by a rise in the prevalence of dystrophic epidermolysis bullosa and a surge in research to manage dystrophic epidermolysis bullosa
North America dominated the global market for health and wellness and the trend is anticipated to continue during the forecast period
The physical activity segment dominated the global market in 2020, and the trend is projected to continue during the forecast period
Key players in the global market include The Estée Lauder Companies Inc., L'Oréal S.A., Unilever plc, BioThrive Sciences, Abbott Laboratories, Herbalife Nutrition Ltd., Amway Corp., THE BOUNTIFUL COMPANY
1. Preface
1.1. Market Definition and Scope
1.2. Market Segmentation
1.3. Key Research Objectives
1.4. Research Highlights
2. Assumptions and Research Methodology
3. Executive Summary: Global Health and Wellness Market
4. Market Overview
4.1. Introduction
4.1.1. Segmentation Definition
4.2. Overview
4.3. Market Dynamics
4.3.1. Drivers
4.3.2. Restraints
4.3.3. Opportunities
4.4. Global Health and Wellness Market Analysis and Forecast, 2017-2031
4.4.1. Market Revenue Projections (US$ Bn)
5. Key Insights
5.1. Key Industry Events (mergers, acquisitions, collaborations, approvals, etc.)
5.2. COVID-19 Pandemic Impact on Industry (value chain and short / mid / long term impact)
6. Global Health and Wellness Market Analysis and Forecast, by Sector
6.1. Introduction & Definition
6.2. Key Findings / Developments
6.3. Global Health and Wellness Market Value Forecast, by Sector, 2017-2031
6.3.1. Personal Care, Beauty and Anti-Aging
6.3.2. Healthy Eating, Nutrition and Weight Loss
6.3.3. Wellness Tourism
6.3.4. Physical Activity
6.3.5. Preventive and Personalized Medicine and Public Health
6.3.6. Traditional and Complementary Medicine
6.3.7. Spa Economy
6.3.8. Others
6.4. Global Health and Wellness Market Attractiveness Analysis, by Sector
7. Global Health and Wellness Market Analysis and Forecast, by Region
7.1. Key Findings
7.2. Global Health and Wellness Market Value Forecast by Region
7.2.1. North America
7.2.2. Europe
7.2.3. Asia Pacific
7.2.4. Latin America
7.2.5. Middle East & Africa
7.3. Global Health and Wellness Market Attractiveness Analysis, by Region
8. North America Health and Wellness Market Analysis and Forecast
8.1. Introduction
8.1.1. Key Findings
8.2. North America Health and Wellness Market Value Forecast, by Sector, 2017-2031
8.2.1. Personal Care, Beauty and Anti-Aging
8.2.2. Healthy Eating, Nutrition and Weight Loss
8.2.3. Wellness Tourism
8.2.4. Physical Activity
8.2.5. Preventive and Personalized Medicine and Public Health
8.2.6. Traditional and Complementary Medicine
8.2.7. Spa Economy
8.2.8. Others
8.3. North America Health and Wellness Market Value Forecast, by Country, 2017-2031
8.3.1. U.S.
8.3.2. Canada
8.4. North America Health and Wellness Market Attractiveness Analysis
8.4.1. By Sector
8.4.2. By Country
9. Europe Health and Wellness Market Analysis and Forecast
9.1. Introduction
9.1.1. Key Findings
9.2. Europe Health and Wellness Market Value Forecast, by Sector, 2017-2031
9.2.1. Personal Care, Beauty and Anti-Aging
9.2.2. Healthy Eating, Nutrition and Weight Loss
9.2.3. Wellness Tourism
9.2.4. Physical Activity
9.2.5. Preventive and Personalized Medicine and Public Health
9.2.6. Traditional and Complementary Medicine
9.2.7. Spa Economy
9.2.8. Others
9.3. Europe Health and Wellness Market Value Forecast, by Country/Sub-region, 2017-2031
9.3.1. Germany
9.3.2. U.K.
9.3.3. France
9.3.4. Spain
9.3.5. Italy
9.3.6. Rest of Europe
9.4. Europe Health and Wellness Market Attractiveness Analysis
9.4.1. By Sector
9.4.2. By Country/Sub-region
10. Asia Pacific Health and Wellness Market Analysis and Forecast
10.1. Introduction
10.1.1. Key Findings
10.2. Asia Pacific Health and Wellness Market Value Forecast, by Sector, 2017-2031
10.2.1. Personal Care, Beauty and Anti-Aging
10.2.2. Healthy Eating, Nutrition and Weight Loss
10.2.3. Wellness Tourism
10.2.4. Physical Activity
10.2.5. Preventive and Personalized Medicine and Public Health
10.2.6. Traditional and Complementary Medicine
10.2.7. Spa Economy
10.2.8. Others
10.3. Asia Pacific Health and Wellness Market Value Forecast, by Country/Sub-region, 2017-2031
10.3.1. China
10.3.2. Japan
10.3.3. India
10.3.4. Australia & New Zealand
10.3.5. Rest of Asia Pacific
10.4. Asia Pacific Health and Wellness Market Attractiveness Analysis
10.4.1. By Sector
10.4.2. By Country/Sub-region
11. Latin America Health and Wellness Market Analysis and Forecast
11.1. Introduction
11.1.1. Key Findings
11.2. Latin America Health and Wellness Market Value Forecast, by Sector, 2017-2031
11.2.1. Personal Care, Beauty and Anti-Aging
11.2.2. Healthy Eating, Nutrition and Weight Loss
11.2.3. Wellness Tourism
11.2.4. Physical Activity
11.2.5. Preventive and Personalized Medicine and Public Health
11.2.6. Traditional and Complementary Medicine
11.2.7. Spa Economy
11.2.8. Others
11.3. Latin America Health and Wellness Market Value Forecast, by Country/Sub-region, 2017-2031
11.3.1. Brazil
11.3.2. Mexico
11.3.3. Rest of Latin America
11.4. Latin America Health and Wellness Market Attractiveness Analysis
11.4.1. By Sector
11.4.2. By Country/Sub-region
12. Middle East & Africa Health and Wellness Market Analysis and Forecast
12.1. Introduction
12.1.1. Key Findings
12.2. Middle East & Africa Health and Wellness Market Value Forecast, by Sector, 2017-2031
12.2.1. Personal Care, Beauty and Anti-Aging
12.2.2. Healthy Eating, Nutrition and Weight Loss
12.2.3. Wellness Tourism
12.2.4. Physical Activity
12.2.5. Preventive and Personalized Medicine and Public Health
12.2.6. Traditional and Complementary Medicine
12.2.7. Spa Economy
12.2.8. Others
12.3. Middle East & Africa Health and Wellness Market Value Forecast, by Country/Sub-region, 2017-2031
12.3.1. GCC Countries
12.3.2. South Africa
12.3.3. Rest of Middle East & Africa
12.4. Middle East & Africa Health and Wellness Market Attractiveness Analysis
12.4.1. By Sector
12.4.2. By Country/Sub-region
13. Competitive Landscape
13.1. Company Profiles
13.1.1. The Estée Lauder Companies Inc.,
13.1.1.1. Company Overview (HQ, Business Segments, Employee Strength)
13.1.1.2. Growth Strategies
13.1.1.3. SWOT Analysis
13.1.2. L'Oréal S.A.
13.1.2.1. Company Overview (HQ, Business Segments, Employee Strength)
13.1.2.2. Growth Strategies
13.1.2.3. SWOT Analysis
13.1.3. Unilever plc
13.1.3.1. Company Overview (HQ, Business Segments, Employee Strength)
13.1.3.2. Growth Strategies
13.1.3.3. SWOT Analysis
13.1.4. BioThrive Sciences
13.1.4.1. Company Overview (HQ, Business Segments, Employee Strength)
13.1.4.2. Growth Strategies
13.1.4.3. SWOT Analysis
13.1.5. Abbott Laboratories
13.1.5.1. Company Overview (HQ, Business Segments, Employee Strength)
13.1.5.2. Growth Strategies
13.1.5.3. SWOT Analysis
13.1.6. Herbalife Nutrition Ltd.
13.1.6.1. Company Overview (HQ, Business Segments, Employee Strength)
13.1.6.2. Growth Strategies
13.1.6.3. SWOT Analysis
13.1.7. Amway Corp.
13.1.7.1. Company Overview (HQ, Business Segments, Employee Strength)
13.1.7.2. Growth Strategies
13.1.7.3. SWOT Analysis
13.1.8. THE BOUNTIFUL COMPANY
13.1.8.1. Company Overview (HQ, Business Segments, Employee Strength)
13.1.8.2. Growth Strategies
13.1.8.3. SWOT Analysis
13.1.9. Anytime Fitness LLC
13.1.9.1. Company Overview (HQ, Business Segments, Employee Strength)
13.1.9.2. Growth Strategies
13.1.9.3. SWOT Analysis
13.1.10. Lift Brands
13.1.10.1. Company Overview (HQ, Business Segments, Employee Strength)
13.1.10.2. Growth Strategies
13.1.10.3. SWOT Analysis
13.1.11. BodyHoliday Saint Lucia
13.1.11.1. Company Overview (HQ, Business Segments, Employee Strength)
13.1.11.2. Growth Strategies
13.1.11.3. SWOT Analysis
13.1.12. Healing Holidays (Cleveland Travel Ltd.),
13.1.12.1. Company Overview (HQ, Business Segments, Employee Strength)
13.1.12.2. Growth Strategies
13.1.12.3. SWOT Analysis
13.1.13. COMO Hotels and Resorts
13.1.13.1. Company Overview (HQ, Business Segments, Employee Strength)
13.1.13.2. Growth Strategies
13.1.13.3. SWOT Analysis
13.1.14. Grand Resort Bad Ragaz
13.1.14.1. Company Overview (HQ, Business Segments, Employee Strength)
13.1.14.2. Growth Strategies
13.1.14.3. SWOT Analysis
13.1.15. SOUKYA International Holistic Health Centre
13.1.15.1. Company Overview (HQ, Business Segments, Employee Strength)
13.1.15.2. Growth Strategies
13.1.15.3. SWOT Analysis
List Of Tables
Table 01: Global Health & Wellness Market Value (US$ Bn) Forecast, by Sector, 2017-2031
Table 02: Global Health & Wellness Market Value (US$ Bn) Forecast, by Region, 2017-2031
Table 03: North America Health & Wellness Market Value (US$ Bn) Forecast, by Country, 2017-2031
Table 04: North America Health & Wellness Market Value (US$ Bn) Forecast, by Sector, 2017-2031
Table 05: Europe Health & Wellness Market Value (US$ Bn) Forecast, by Country/Sub-Region, 2017-2031
Table 06: Europe Health & Wellness Market Value (US$ Bn) Forecast, by Sector, 2017-2031
Table 07: Asia Pacific Health & Wellness Market Value (US$ Bn) Forecast, by Country/Sub-Region, 2017-2031
Table 08: Asia Pacific Health & Wellness Market Value (US$ Bn) Forecast, by Sector, 2017-2031
Table 09: Latin America Health & Wellness Market Value (US$ Bn) Forecast, by Country/Sub-Region, 2017-2031
Table 10: Latin America Health & Wellness Market Value (US$ Bn) Forecast, by Sector, 2017-2031
Table 11: Middle East & Africa Health & Wellness Market Value (US$ Bn) Forecast, by Country/Sub-Region, 2017-2031
Table 12: Middle East & Africa Health & Wellness Market Value (US$ Bn) Forecast, by Sector, 2017-2031
List Of Figures
Figure 01: Global Health and Wellness Market Value (US$ Bn) Forecast, 2017-2031
Figure 02: Global Health and Wellness Market Value Share, by Sector, 2020
Figure 03: Global Health and Wellness Market Value Share, by Region, 2020
Figure 04: Global Health & Wellness Market Value Share Analysis, by Sector, 2020 and 2031
Figure 05: Global Health & Wellness Market Attractiveness Analysis, by Sector, 2021-2031
Figure 06: Global Health & Wellness Market Value (US$ Bn), by Personal Care, Beauty and Anti-Aging, 2017-2031
Figure 07: Global Health & Wellness Market Value (US$ Bn), by Healthy Eating, Nutrition and Weight Loss, 2017-2031
Figure 08: Global Health & Wellness Market Value (US$ Bn), by Wellness Tourism, 2017-2031
Figure 09: Global Health & Wellness Market Value (US$ Bn), by Physical Activity, 2017-2031
Figure 10: Global Health & Wellness Market Value (US$ Bn), by Preventive and Personalized Medicine and Public Health, 2017-2031
Figure 11: Global Health & Wellness Market Value (US$ Bn), by Traditional and Complementary Medicine, 2017-2031
Figure 12: Global Health & Wellness Market Value (US$ Bn), by Spa Economy, 2017-2031
Figure 13: Global Health & Wellness Market Value (US$ Bn), by Others, 2017-2031
Figure 14: Global Health & Wellness Market Attractiveness Analysis, by Region, 2020 and 2031
Figure 15: Global Health & Wellness Market Value Share Analysis, by Region, 2021-2031
Figure 16: North America Health & Wellness Market Value (US$ Bn) Forecast, 2017-2031
Figure 17: North America Health & Wellness Market Value Share Analysis, by Country, 2020 and 2031
Figure 18: North America Health & Wellness Market Attractiveness Analysis, by Country, 2021-2031
Figure 19: North America Health & Wellness Market Value Share Analysis, by Sector, 2020 and 2031
Figure 20: North America Health & Wellness Market Attractiveness Analysis, by Sector, 2021-2031
Figure 21: Europe Health & Wellness Market Value (US$ Bn) Forecast, 2017-2031
Figure 22: Europe Health & Wellness Market Value Share Analysis, by Country/Sub-Region, 2020 and 2031
Figure 23: Europe Health & Wellness Market Attractiveness Analysis, by Country/Sub-region, 2021-2031
Figure 24: Europe Health & Wellness Market Value Share Analysis, by Sector, 2020 and 2031
Figure 25: Europe Health & Wellness Market Attractiveness Analysis, by Sector, 2021-2031
Figure 26: Asia Pacific Health & Wellness Market Value (US$ Bn) Forecast, 2017-2031
Figure 27: Asia Pacific Health & Wellness Market Value Share Analysis, by Country/Sub-Region, 2020 and 2031
Figure 28: Asia Pacific Health & Wellness Market Attractiveness Analysis, by Country/Sub-Region, 2021-2031
Figure 29: Asia Pacific Health & Wellness Market Value Share Analysis, by Sector, 2020 and 2031
Figure 30: Asia Pacific Health & Wellness Market Attractiveness Analysis, by Sector, 2020-2031
Figure 31: Latin America Health & Wellness Market Value (US$ Bn) Forecast, 2017-2031
Figure 32: Latin America Health & Wellness Market Value Share Analysis, by Country/Sub-Region, 2020 and 2031
Figure 33: Latin America Health & Wellness Market Attractiveness Analysis, by Country/Sub-Region, 2021-2031
Figure 34: Latin America Health & Wellness Market Value Share Analysis, by Sector, 2020 and 2031
Figure 35: Latin America Health & Wellness Market Attractiveness Analysis, by Sector, 2020-2031
Figure 36: Middle East & Africa Health & Wellness Market Value (US$ Bn) Forecast, 2017-2031
Figure 37: Middle East & Africa Health & Wellness Market Value Share Analysis, by Country/Sub-Region, 2020 and 2031
Figure 38: Middle East & Africa Health & Wellness Market Attractiveness Analysis, by Country/Sub-Region, 2021-2031
Figure 39: Middle East & Africa Health & Wellness Market Value Share Analysis, by Sector, 2020 and 2031
Figure 40: Middle East & Africa Health & Wellness Market Attractiveness Analysis, by Sector, 2020-2031
Figure 41: Middle East & Africa Health and Wellness Market Attractiveness Analysis, by Distribution Channel, 2020-2030