The market valuation of health and wellness products is estimated to be around USD 7,235 million in 2024. Rising personal care and fitness awareness has encouraged consumers worldwide to look actively for self-care products. Besides encouraging consumers to adopt a holistic lifestyle, this trend has also strengthened the market dynamics of well-being products.
The demand for health and wellness products is predicted to grow at a rate of 8.2% from 2024 to 2034. The analysis report further predicts the total valuation of the health and wellness product market is set to reach USD 15,982 million by 2034.
Market Trends and Analysis
| Report Attribute | Details |
|---|---|
| Health and Wellness Product Market Revenue (2024) | USD 7,235 million |
| Market Anticipated Forecast Value (2034) | USD 15,982 million |
| Market Projected Growth Rate (2024 to 2034) | 8.2% |
Exclusive Offer: 30% Off on Regional Reports
Get a free sample report and customize your regions for a 30% discount on your regional report!
As per the market reports on holistic health and nutrition products, the size of the health and wellness industry in 2019 was around USD 4,947 million. The overall market witnessed a year-on-year growth rate of 7.2% in the following years. As preventive measures received more attention during the pandemic, manufacturers supplying goods promoting immune health, stress management, and overall well-being witnessed increased demand.
| Historical Market CAGR (2019 to 2023) | 7.9% |
|---|---|
| Forecasted Market CAGR (2024 to 2034) | 8.2% |
In the post-pandemic period, people were observed to be proactively spending money on preventive health solutions to be at their best. In the years 2022 and 2023, the wellness industry continued progressing and now is in a good position to satisfy this new demand. So, the market for healthcare and wellness products is likely to follow a relatively higher growth rate through the projected years.
Emerging Opportunities for the Global Health and Wellness Product Market Growth
As stress and anxiety have become more prevalent in modern societies and urban cities, there is a growing need for personal well-being products. So, manufacturers of mind-body wellness products that promote relaxation and stress alleviation are expected to fill this emerging gap gradually and complement the medical wellness market outlook.
The advancing trend toward personal care wellness solutions has led to the further development of dietary supplements and mental health products according to the needs of individual end users. So, market players, including wellness retreats, who can provide customized options related to self-care, exercise, or nutrition are expected to draw in more customers in the coming days.
This section provides an analysis of different regional health product markets by comparing their projected growth rates in the table below. Countries with a vast network of pharmaceutical industries, like the United States and Germany, are expected to remain promising in terms of the market demand for health and wellness products. Meanwhile, the markets in emerging economies like India are expected to follow higher growth rates by taking advantage of their health and wellness tourism sector.
| Regional Market Comparison | CAGR (2024 to 2034) |
|---|---|
| United States | 8.3% |
| Germany | 11.8% |
| United Kingdom | 6.9% |
| India | 9.8% |
| China | 5.5% |
Based on its analysis of the health and wellness products, the market growth in the United States is around 8.3% per year till 2034. Prominent factors that are figured to drive the regional market at such an above-average growth rate include:
As per the analysis of the beauty and wellness products, the regional market of India is expected to advance at a CAGR of 9.8% through 2034. Some of the core elements that are expected to support this impressive growth trend include:
As per the market report, the sales of packaged functional food & beverages are estimated to garner 29.8% of the revenue in 2024.
| Attributes | Details |
|---|---|
| Top Product Category or Segment | Packaged Food |
| Market Share in 2024 | 29.8% |
Key trends that are expected to further expand the packaged food segment through the projected years include:
Based on the findings from the report for the beauty and wellness products market, the supermarket segment is expected to achieve nearly 28.9% of the total sales in 2024.
| Attributes | Details |
|---|---|
| Top Sales or Distribution Channel Segment | Supermarkets |
| Market Share in 2024 | 28.9% |
Some prominent factors that are to be considered to determine the dominance of market segments based on product distribution channels include:
Leading players have captured a sizable share of the market by consistently introducing innovative ideas in ingredient selection and product formulation. On the other hand, new players entering this sector have increased their market presence and reached a larger client base by utilizing online sales platforms.
Recent Developments in Global Health and Wellness Product Industry Participants
In December 2022, Rasna announced its entry into the health and wellness products sector by starting its sub-brand 'Rasna Healthy Day'. It introduced ‘Rasna Healthy Day Honey,’ a nutritious multigrain blend that includes oats, ragi, and jowar and is free of artificial ingredients or preservatives, under this portfolio. It also introduced the ‘Rasna Healthy Day Choco Spread,’ containing calcium for stronger bones and increased energy. 'Healthy Day Protein Vita' is a chocolate drink with a malt base that has twice as much protein as its competitors.
The popular healthcare provider in New York State, Northwell Health, partnered with Digital Gadgets, a top producer and distributor of technological goods, in January 2023. Through this collaboration, the firms aim to develop a range of cutting-edge wellness products under the Northwell brand to be exclusively manufactured and distributed to retail, healthcare, and government clients by DG Surgical, a part of Digital Gadgets.
Check Free Sample Report & Save 40%!
Select your niche segments and personalize your insights for smart savings. Cut costs now!
| Attribute | Details |
|---|---|
| Estimated Market Size (2024) | USD 7,235 million |
| Projected Market Size (2034) | USD 15,982 million |
| Anticipated Growth Rate (2024 to 2034) | 8.2% |
| Forecast Period | 2024 to 2034 |
| Historical Data Available for | 2019 to 2023 |
| Market Analysis | USD million or billion for Value and Units for Volume |
| Key Regions Covered | North America; Latin America; Europe; Middle East & Africa (MEA); East Asia; South Asia and Oceania |
| Key Countries Covered | United States, Canada, Brazil, Mexico, Germany, Spain, Italy, France, United Kingdom, Russia, China, India, Australia & New Zealand, GCC Countries, and South Africa |
| Key Segments Covered | By Product Category, By Function, By Product Type, By Sales or Distribution Channel, and By Region |
| Key Companies Profiled | Pfizer Inc.; PROVANT HEALTH SOLUTIONS INC.; Nestle; The Kraft Heinz Company; Arbonne International; Buy Wellness; GSK; Walgreens Co.; Procter & Gamble; General Nutrition Centers Inc. |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The health and wellness product market to be valued at USD 7,235 million in 2024.
The health and wellness product market is to grow at 8.2% during the forecast period.
The health and wellness product market is predicted to be valued at USD 15,982 million by 2034.
Packaged food products account for a 29.8% share of the health and wellness product market.
India is likely to witness a 9.8% CAGR in sales of health and wellness products through 2034.
| Market Value for 2023 | USD 25,456.2 million |
|---|---|
| Market Value for 2033 | USD 63,457.4 million |
| Market CAGR (2023 to 2033) | 10.4% |
| Expected Market Value (2023) | USD 1.39 billion |
|---|---|
| Projected Forecast Value (2033) | USD 2.79 billion |
| Anticipated CAGR (2023 to 2033) | 7.2% |
Explore Functional Food Insights
View Reports
Health and Wellness Product Market
Thank you!
You will receive an email from our Business Development Manager. Please be sure to check your SPAM/JUNK folder too.
