Market Insights Digital Digital Health Digital Fitness & Well-Being

Health & Wellness Coaching - Vietnam

Vietnam

The Health & Wellness Coaching market in Vietnam is projected to reach a revenue of US$119.20m in 2024.
It is expected to exhibit an annual growth rate (CAGR 2024-2028) of 7.97%, resulting in a projected market volume of US$162.00m by 2028.
The user penetration rate is anticipated to be 12.75% in 2024 and is expected to increase to 15.08% by 2028.
The average revenue per user (ARPU) is projected to be US$11.19.
In the global context, in the United States is forecasted to generate the highest revenue, amounting to US$3,829.00m in 2024.
In Vietnam, the Health & Wellness Coaching market is rapidly growing, with a strong emphasis on digital platforms and mobile applications for personalized coaching.

Key regions: Asia, United States, United Kingdom, Italy, South Korea

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Analyst Opinion

The Health & Wellness Coaching market in Vietnam is witnessing significant growth and development, especially in the Fitness apps, Nutrition apps, and Meditation apps sub-markets.

Customer preferences: Vietnamese consumers are increasingly prioritizing their health and well-being, leading to a growing demand for Health & Wellness Coaching services. With rising awareness about the importance of physical fitness, healthy eating habits, and mental well-being, individuals are turning to apps for convenient access to personalized coaching and guidance.

Trends in the market: In Vietnam, there is a noticeable trend towards digitalization and smartphone usage, making fitness, nutrition, and meditation apps more accessible to a larger population. The convenience and flexibility offered by these apps align well with the busy lifestyles of urban Vietnamese, driving the adoption of Health & Wellness Coaching services through digital platforms.

Local special circumstances: Vietnam's rapidly growing middle-class population, coupled with increasing disposable incomes, is fueling the demand for Health & Wellness Coaching services. Additionally, the young demographic in the country, with a high percentage of tech-savvy individuals, is contributing to the popularity of fitness, nutrition, and meditation apps. Moreover, the influence of Western wellness trends is shaping consumer preferences towards holistic health practices.

Underlying macroeconomic factors: The overall economic growth in Vietnam, along with a burgeoning tech industry, is creating a favorable environment for the Health & Wellness Coaching market to thrive. As the country continues to urbanize and modernize, there is a shift towards preventive healthcare and wellness solutions, driving the adoption of digital health platforms. Additionally, government initiatives promoting healthy lifestyles and wellness programs are further supporting the growth of the Health & Wellness Coaching market in Vietnam.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on revenues and user data of relevant mobile applications and consumer electronics companies.

Modeling approach / Market size:

Market sizes are determined through a combined top-down and bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial reports of key players, industry reports, third-party reports, and survey results from primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, population, internet penetration, smartphone penetration, consumer spending, and healthcare spending. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption.

Additional notes:

The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war is considered at a country-specific level.