Connect with us

Research Reports

Health & Wellness Market Growth is Expected to Occur at a Healthy CAGR of 0.0% from 2021 to 2031

Health & Wellness Market Growth is Expected to Occur at a Healthy CAGR of 0.0% from 2021 to 2031 41

Health and Wellness Market: Introduction

According to the report, the global health and wellness market was valued over US$ 4.1 Trn in 2020. It is projected to expand at a CAGR of 5% from 2021 to 2031. Health & wellness is a broad terminology that covers various techniques, services, and product offerings provided to maintain fitness, health, and wellbeing of individuals around the world. Health includes various parameters such as mental, social, and emotional. Wellness is a form of quality of life, which includes mental and physical wellness, emotional, and socio-economic wellness, along with fitness, nutritional, and other important forms of wellness.

North America dominated the global health and wellness market in 2020, and the trend is anticipated to continue during the forecast period. Rise in population suffering from various chronic diseases and increase in awareness about healthy lifestyle & balanced diet in North America are expected to boost the consumption of health and wellness products during the forecast period. 

Request Brochure of Report – https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=450

North America’s large share of the global health and wellness market can be attributed to the increase in the adoption of health and wellness services in the U.S. and Canada. It is a key target region for all players in the global health and wellness market.

Asia Pacific is likely to be a highly lucrative market for health and wellness from 2021 to 2031. The market in the region is projected to expand at a high CAGR during the forecast period.

Rise in Prevalence of Chronic Disease to Drive Market

The rise in prevalence of chronic lifestyle diseases across the globe is a key factor driving the market.  The prevalence of diabetes, blood pressure, asthma, arthritis, cancer, dementia, and other stress-related disorders has increased significantly, owing to the sedentary lifestyles and hectic schedules. People unable to synthesize essential amino acids, vitamins, and other components as well as those who do not get essential nutrition from their diet are prescribed with additional medical supplements. According to the International Diabetes Federation (IDF), the number of people with diabetes in North America stood at around 46 million in 2017, which is expected to increase to 62 million by 2045.

Request for Custom Research – https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=450

According to a report published by the World Health Organization in 2018, one in five men and one in six women across the world are diagnosed with cancer during their lifetime. Hence, the increase in incidence of chronic diseases is likely to fuel the market during the forecast period. Cardiovascular diseases (CVDs) are a leading cause of death around the world. According to the World Health Organization (WHO), cardiovascular diseases account for nearly 17.9 million deaths every year, which is estimated to be 31% of all global deaths.

Physical Activity to Dominate Global Market

In terms of sector, the global health and wellness market has been classified into personal care, beauty and anti-aging, healthy eating, nutrition and weight loss, wellness tourism, physical activity, preventive and personalized medicine and public health, traditional and complementary medicine, spa economy, and others. The physical activity segment dominated the global health and wellness market in 2020, and the trend is projected to continue during the forecast period. Physical activities include not only fitness/gym and mind-body (“mindful movement”) activities, but also a variety of other sports and active recreation activities that people engage in as part of being physically active.

Buy Health and Wellness Market Report at https://www.transparencymarketresearch.com/checkout.php?rep_id=450&ltype=S

Rising concern about obesity and chronic disease and awareness about their link to inactivity are estimated to continue to prompt governments, nonprofit organizations, medical systems, employers, and consumers to pay more attention to physical activity, which, in turn, is a key factor that is projected to propel the segment during the forecast period.

Competition Landscape

Key players in the global health and wellness 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, Anytime Fitness LLC, Lift Brands, BodyHoliday Saint Lucia, Healing Holidays (Cleveland Travel Ltd.), COMO Hotels and Resorts, Grand Resort Bad Ragaz, and SOUKYA International Holistic Health Centre.

About Us

Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals. Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information, we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.

TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.

Contact Us

Mr. Rohit Bhisey

Transparency Market Research

USA – Canada Toll Free: 866-552-3453

Email: sales@transparencymarketresearch.com

Blog: https://tmrblog.com/

Follow UsTwitter | LinkedIn

Press Release Source: https://www.transparencymarketresearch.com/pressrelease/health-and-wellness-market.htm

Continue Reading
Editorial & Advertiser disclosure

Recommended