Feb 06, 2020 (SUPER MARKET RESEARCH via COMTEX) — According to the latest report by IMARC Group, titled “Health and WellnessMarket: Industry Trends, Share, Size, Growth, Opportunity and Forecast2019-2024”, the global health and wellness market size reached strong growth in2018. Health and wellness refer to the state of emotional, physical and mentalwell-being of an individual. Some of their key aspects include nutrition,personal care, weight management, fitness and preventive medicines. Currently,individuals around the world are spending on health and wellness products owingto inflating income levels and increasing health consciousness.
Some of the health wellness market keyplayer being Amway (Malaysia) Holdings Berhad KLSE: (AMWAY), Bayer AG OTCMKTS:(BAYRY), Brunswick Corporation NYSE: (BC), Danone, David Lloyd Leisure, FitnessFirst, Herbalife Nutrition, Holland & Barrett, LA Fitness, L’Oreal, Nestle,Procter & Gamble, Unilever, Virgin Active, Vitabiotics, etc.
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Due to sedentary lifestyles, growing health awareness and theincreasing prevalence of chronic diseases, such as diabetes and cancer, thereis a rise in the demand for organic and natural food products, dietarysupplements and fitness equipment. This represents one of the major factors strengtheningthe health and wellness market growth. Apart from this, service providers inthe spa industry are introducing innovations, such as iodine-bromine water andhydropathic healing technique, which is helpful in the treatment of numerous diseases.This, along with an increase in the wellness tourism expenditures and mineralspa sector, is expected to catalyze the demand for health and wellness in thecoming years. Looking forward, IMARC Group expects the market to register aCAGR of around 4% during 2020-2025.
Market Breakup by Functionality:
- Nutrition & WeightManagement
- Heart & Gut Health
- Bone Health
- Skin Health
Market Breakup by Application:
- Functional Foods and Beverages
- Beauty and Personal CareProducts
- Preventive and PersonalizedMedicinal Products
- Fitness Equipment’s
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Food Packaging Market Report 2020-2025
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