Wellness is about making healthy lifestyle choices and maintaining one’s wellbeing both physically and mentally. In recent years, more people around the world have begun to recognize the importance of wellness – a trend which has seen the value of the industry increase year-on-year. The health and wellness market size worldwide was estimated at over 4.3 trillion U.S. dollars in 2020, a figure which is set to increase to almost seven trillion U.S. dollars by 2025.
Wellness all over the world
Wellness tourism is the pursuit of mental and physical wellbeing through travel. The wellness tourism industry is expected to boom in the coming years, with the global market size forecast to more than double between 2022 and 2030. Estimates suggest that the market will exceed a value of over one trillion U.S. dollars by 2030. Millions of wellness tourism trips are undertaken across the globe every year, with almost 190 million domestic trips undertaken in Europe alone in 2020. In terms of leading countries in wellness tourism expenditure, the United States sat top of the list, with spending within this industry exceeding 162 billion U.S. dollars in 2020.
Wellness in the workplace
Another growing segment within the wellness industry is corporate wellness services. This industry involves companies providing workplace programs to improve or support the health and wellbeing of their employees. The value of the corporate wellness market worldwide is forecast to grow from 54.1 billion U.S. dollars in 2021 to over 93 billion U.S. dollars by 2028. Europe is currently the largest regional market for workplace wellness, followed by North America, where the industry is estimated to be worth over 16 billion U.S. dollars. Some of the most common wellness programs and events offered by employers in the United States included onsite seasonal flu vaccinations, annual health risk assessments, and company-organized fitness competitions.
Virtual wellness straight to your smartphone
Virtual and online wellness is also a growing industry as increasing numbers of consumers are accessing a wealth of wellness information directly on their smartphones. This was especially important during the coronavirus (COVID-19) pandemic because many people were confined to their homes for extended periods of time. During the Statista Global Consumer Survey in 2022, the most common fitness and health online services that consumers in the United States spent money on were fitness, yoga and training apps and health tracking apps. Globally, some of the leading health and fitness apps downloaded in the Google Play Store included weight loss apps and home workout apps.
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