Health And Wellness Market 2023-2027: Size and Frequent product recalls; growth driven by the Distribution Channel, Some of key Companies Positioned Strategically

The health and wellness market size by Distribution Channel (Online and Offline) and Geography (North America, APAC, Europe, South America, and Middle East and Africa), is forecast to increase by USD 1661.81 billion. The market is expected to grow at a CAGR of   6.49% between 2023 and 2027.

• The global health and wellness market faces significant challenges due to the increasing frequency of product recalls. These recalls not only negatively impact industry reputation but also impose substantial operational and financial burdens on companies. For instance, in August 2021, the US FDA initiated a recall of Jimbos Bloody Mary Mix, sold under the brand New England Cupboard, due to undeclared allergens such as soy, wheat, and sulfites, posing potential health risks for consumers.
• In the North American market, the health and wellness sector holds substantial influence. Chronic diseases, such as diabetes, hypertension, asthma, arthritis, cancer, and dementia, have seen a significant rise due to sedentary lifestyles. Trends like "mindful snacking" positively impact this market. In June 2021, Iovate Health Sciences International Inc., a leading nutritional supplement company, introduced Purely Inspired Superfoods. This product line focuses on delivering premium, nutrient-dense superfood capsules to cater to the growing demand for high-quality health solutions.

Access the full report to know who are the other key countries segment-wise forecast and historic data

Some of the Key Companies:

• adidas AG
• Amway Corp.
• Bayer AG
• Beiersdorf AG
• Core Health and Fitness LLC
• Danone SA
• David Lloyd Leisure Ltd.
• General Mills Inc.
• Glooko Inc.
• Herbalife International of America Inc
• Johnson Health Tech Co. Ltd.
• LOreal SA
• Nestle SA
• Ogilvie and Co.
• PepsiCo Inc.
• RSG Group GmbH
• Shiseido Co. Ltd.
• The Procter and Gamble Co.
• Unilever PLC
• Vitabiotics Ltd.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/