Global Health and Wellness Market Report and Forecast 2024-2032

Global Health and Wellness Market Trends

The market is being shaped by several transformative trends, expected to boost the market value significantly in the forecast period. Some of the major market trends are as follows:

Increasing Healthcare Expenditure Fuels Market Growth

According to the World Health Organization (WHO), the global expenditure on health to GDP percentage was more than 7% in 2020. Consumers are extensively spending on products and solutions that can improve their nutrition, mindfulness, fitness, sleep, appearance, and health. Such health and wellness market statistics efficiently point out the increasing expenditure on healthcare promoting the high scope of enhancement and advancement in the market.

Functional Foods Driving Market Demand

The COVID-19 outbreak highlighted the emphasis on improving immunity levels. As a result, there has been robust growth in production of functional foods along with health products. This is positively impacting the market demand. To cater to a wider section of consumers, including children, adults and older people, companies are also attempting to manufacture products such as supplements, oral solutions, gummies, and herbal products, among others. For instance, in December 2022, Herbalife Nutrition announced the launch of its new supplement, Immunoturmeric, in the Asia Pacific to promote a healthy immune system.

Rising Awareness Around Mental Health Issues Drives Market Growth

The wellness market size is experiencing robust growth as there is rising prioritization around mental health amid the growing incidences of anxiety, depression, stress, and burnout. This is also likely to surge the focus on self-care, exercise, mindful eating, and ageing with wellness, among others, in the forecast period. Besides, supplements and vitamins that can improve sleep quality and boost overall health are gaining popularity.

Rising Disposable Incomes

The wellness market growth can be attributed to the rising disposable incomes of the working population and the increasing prevalence of various health-related issues, hence increased expenditure on personal wellness and health-related products. Self-care is emerging as a prominent trend marked by an improvement in consumer’s economic state. Simultaneously, personalization is emerging as a significant trend in the market. Key players are also attempting to leverage innovative technologies to address the health concerns, needs, and preferences of customers by providing solutions and content that can directly address their individual circumstances.

Health and Wellness Market Report Snapshots

Health and Wellness Market Size

Health and Wellness Market Growth

Health and Wellness Market Trends

Health and Wellness Market Share

Health and Wellness Market Regional Analysis

Health and Wellness Companies