NEW YORK, June 29, 2021 /PRNewswire/ — Technavio has been monitoring the health and wellness market, operating under the Hotels, Restaurants & Leisure industry. Technavio’s latest report estimates the health and wellness market to register an incremental growth of USD 1,299.84 billion at a CAGR of over 6% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment.
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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Competitors have to focus on differentiating their product offerings with unique value propositions to strengthen their foothold in the market. Market vendors also have to leverage the existing growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. Bayer AG, Brunswick Corp., Core Health & Fitness LLC, Danone SA, EVOLVE Brands LLC, General Mills Inc., Johnson Health Tech Co. Ltd., Nestlé SA, PepsiCo Inc., and The Procter & Gamble Co. are among some of the major market participants.
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Increasing emphasis on health and wellness has been instrumental in driving the growth of the market. However, lack of cost transparency and value-based payments might hamper the market growth.
Technavio’s custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.
Health and Wellness Market 2020-2024: Segmentation
Health and Wellness Market is segmented as below:
- Beauty and Personal Care Products
- Health and Wellness Food
- Wellness Tourism
- Fitness Equipment
- Preventive and Personalized Health
- North America
- South America
Based on geographic segmentation, about 32% of the market’s originated from APAC during the forecast period. In addition, the beauty and personal care products segment was crucial in generating revenue in the market.
Health and Wellness Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The health and wellness market report covers the following areas:
- Health and Wellness Market Size
- Health and Wellness Market Trends
- Health and Wellness Market Industry Analysis
This study identifies the growing influence of thermal and mineral springs and spas as one of the prime reasons driving the health and wellness market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Health and Wellness Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist health and wellness market growth during the next five years
- Estimation of the health and wellness market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the health and wellness market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of the health and wellness market vendors
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Table of Contents:
- Market Overview
- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 – 2024
Five Forces Analysis
- Five Forces Summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Product
- Market segments
- Comparison by Product placement
- Beauty and personal care products – Market size and forecast 2019-2024
- Health and wellness food – Market size and forecast 2019-2024
- Wellness tourism – Market size and forecast 2019-2024
- Fitness equipment – Market size and forecast 2019-2024
- Preventive and personalized health – Market size and forecast 2019-2024
- Market opportunity by Product
- Geographic segmentation
- Geographic comparison
- North America – Market size and forecast 2019-2024
- Europe – Market size and forecast 2019-2024
- APAC – Market size and forecast 2019-2024
- MEA – Market size and forecast 2019-2024
- South America – Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
Drivers, Challenges, and Trends
- Market drivers
- Volume driver – Demand led growth
- Volume driver – Supply led growth
- Volume driver – External factors
- Volume driver – Demand shift in adjacent markets
- Price driver – Inflation
- Price driver – Shift from lower to higher-priced units
- Market challenges
- Market trends
- Vendor landscape
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- Bayer AG
- Brunswick Corp.
- Core Health & Fitness LLC
- Danone SA
- EVOLVE Brands LLC
- General Mills, Inc.
- Johnson Health Tech Co. Ltd.
- Nestlé SA
- PepsiCo Inc.
- The Procter & Gamble Co.
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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