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Type: PDF
Status: Syndicate
Categories: Pharma & Healthcare
Report Code : PHC23
No. of Pages : 150
Health and wellness is an active process of obtaining finest state of physical and mental health. Also, it is a development of pleasant conscious and selecting of choices about the well and fulfilling life. Having healthy foods such as vegetables coupled with protein and maintaining an energetic lifestyle responsible suggestively for personal state of health and wellness.
The global health and wellness market in 2023 was approximately USD 5.6 billion. The market is expected to grow at a CAGR of 4.4 % and is anticipated to reach around USD 7.5 Billion by 2030. The rising incidence of chronic lifestyle diseases across the world is one of the major factors accelerating the growth of the market.
Due to the inactive lifestyles and hectic schedules, the incidence of blood pressure, diabetes, asthma, arthritis, cancer, obesity and other stress-related disorders has surged significantly. This has promoted the masses to adopt several healthcare activities, such as yoga, meditation and athletics.
Moreover, the rising trend of using wearable devices, such as fitness bands and trackers, is also providing a foster to the market growth. On the other hand, the high cost of the products related to the health and wellness will impede the market growth.
The market for health and wellness is intensely competitive and is highly fragmented. The vendors in the health and wellness market compete based on product portfolio, product differentiation, applications, and the pricing of products. The rise in technological innovations in designing the products for better quality, ease of use and better performance is expected to continue to intensify the level of competition among the companies to expand their product portfolios by incorporating innovative features, into their product.
Key players in the market are Amway Corp., Bayer AG, Fitness First, Danone, Herbalife Nutrition Ltd., David Lloyd Leisure Ltd., Holland & Barrett Retail Limited, L'Oreal SA, Nestle SA, Vitabiotics Ltd, Procter & Gamble, Unilever and Others.
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