Latest News- Health And Wellness Market: Beauty and personal care products is expected to lead the Product Type segment during 2025-2029

The Health And Wellness Market is being driven by Increasing emphasis on promotion of health and wellness activities and programs

The Health And Wellness Market is expected to grow at a CAGR of 7.1% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 2069.2 billion. The global health and wellness market is witnessing a significant surge due to the increasing demand for treatments of various physical and mental conditions, including rheumatism, circulation disorders, joint health improvement, spinal column ailments, bronchitis, and asthma. This trend has led to a growing popularity of thermal and mineral springs and spas worldwide. In Europe, regions like France, Austria, Hungary, the UK, and Belgium are renowned for their therapeutic waters sourced from natural thermal and mineral springs. Notable examples include Bains de Dorres in the Pyrenees, France, Bad Gastein in Austria, Szechenyi Baths in Budapest, Hungary, Chateau des Thermes in Buxton, UK, and Chaudfontaine in Belgium. The proliferation of spas utilizing these resources has been observed globally, catering to the escalating consumer demand for spa services. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Product Type
  • Beauty and personal care products
  • Health and wellness food
  • Wellness tourism
  • Fitness equipment
  • Preventive and personalized health
• Distribution Channel
  • Online
  • Offline
• Geography
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
  • APAC
    • China
    • India
    • Japan
  • South America
    • Brazil
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing emphasis on promotion of health and wellness activities and programs
• Increasing incidences of chronic diseases, stress, and other adverse health conditions
• Rising number of new product launches in market

However, the market also witnesses some limitations, which are as follows:

• Frequent product recalls
• Lack of cost transparency and value-based payments
• High degree of disorganization, price instability, and lack of skilled manpower

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Market Scope in Health And Wellness Market Research Report

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Research Analysis Overview

The Health and Wellness Market encompasses various sub-markets, including alternative therapies, apparel, beauty and anti-aging, fitness and exercise, and mental health. Consumers are increasingly focusing on balanced lifestyles, disease prevention, and preventative healthcare. This shift is driven by cultural developments, such as increased fitness consciousness and mental health awareness. Beauty treatments, skincare products, herbal supplements, and stress management products are popular areas of expenditure. Holistic approaches, such as mental health retreats and traditional medical practices, are gaining popularity for treating illnesses like cancer. Wearable fitness technology and preventive screenings are essential tools for maintaining a healthy lifestyle and mental well-being.

Market Research Overview

The global market for Health and Wellness within the Hospitality Industry encompasses businesses offering alternative therapies, apparel, beauty and anti-aging treatments, and balanced lifestyle services. This sector includes revenue from companies engaged in casinos and gaming, hotels, resorts and cruise lines, leisure facilities, and restaurants. Market expansion is driven by the burgeoning travel and tourism sector, with increasing consumer demand for holistic wellness experiences. Cultural developments and disease prevention trends further fuel market growth, as consumers seek to maintain a balanced lifestyle during their travels.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

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