This market research study presents a detailed segmentation of the global health and wellness market by product (fitness equipment, preventive and personalized health, wellness tourism, beauty and personal care products, and health and wellness food) and by geography (APAC, Europe, North America, and ROW). The key leading vendors in the market are Cybex International, Danone, General Mills, Omron Healthcare, and Procter & Gamble.
Technavio has released a new market research report on the global health and wellness market, which is expected to grow at a CAGR of 6% between 2016 and 2020. The increasing cost of healthcare services and facilities is one of the key factors driving the growth of this market globally. The rising prices for medical services, payment for volume over value, use of new technology in treatment without analyzing its effectiveness, defensive medicine, and a severe lack of information and clarity on the prices and quality are some of the primary reasons spurring the growth prospects of this market in the coming years. North America leads the global health and wellness market, occupying around 33% of eth total market revenue. Much of this region’s growth comes from the rising awareness of the benefits of a healthy diet, affordability and the availability of these products in the region
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“Of late, the market is witnessing rising demand for single-serve functional beverages to aid in the growth of this market in the coming years. Single-serve dairy products have become a prominent part of customer convenience. An introduction of single-serve beverages is providing tremendous opportunities for beverage manufacturers to increase their market presence. Moreover, ready-to-drink (RTD) beverages can be easily refrigerated along with water, juices, sodas, and other beverages. Furthermore, an augmented consumer demand for healthy and on-the-go eating is expected to spur this market’s growth prospects until the end of 2020,” says Amber Chourasia, Lead Analyst, Lab Automation and Health and Wellness, Technavio Research
The health and wellness food segment dominates the market, accounting for nearly 51% of the overall market share. The health and wellness food market consists of naturally healthy foods, functional foods and nutraceuticals, better-for-you foods, organic foods, and food intolerance products. Factors such as the growing demand for healthy, high-fiber foods and rising awareness of health issues to aid in the growth of this market segment by the end of 2020.
The key vendors in the global health and wellness market include Cybex International, Danone, General Mills, Omron Healthcare, and Procter & Gamble. The market is extremely fragmented due to the presence of several international and regional vendors. The providers in this market compete in terms of price, quality, product differentiation, distribution, and promotion to gain maximum market prominence during the forecast period. The competitive environment is likely to intensify with an increase in product or service extensions, product innovations, and M&A.
A more detailed analysis is available in the Technavio report, Global Health and Wellness Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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