According to the latest report by IMARC Group, titled “Health and Wellness Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global health and wellness market size reached strong growth in 2018. Health and wellness refer to the state of emotional, physical and mental well-being of an individual. Some of their key aspects include nutrition, personal care, weight management, fitness and preventive medicines. Currently, individuals around the world are spending on health and wellness products owing to inflating income levels and increasing health consciousness.
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Due to sedentary lifestyles, growing health awareness and the increasing prevalence of chronic diseases, such as diabetes and cancer, there is a rise in the demand for organic and natural food products, dietary supplements and fitness equipment. This represents one of the major factors strengthening the health and wellness market growth. Apart from this, service providers in the spa industry are introducing innovations, such as iodine-bromine water and hydropathic healing technique, which is helpful in the treatment of numerous diseases. This, along with an increase in the wellness tourism expenditures and mineral spa sector, is expected to catalyze the demand for health and wellness in the coming years. Looking forward, IMARC Group expects the market to register a CAGR of around 4% during 2020-2025.
Market Breakup by Functionality:
- Nutrition & Weight Management
- Heart & Gut Health
- Bone Health
- Skin Health
Market Breakup by Application:
- Functional Foods and Beverages
- Beauty and Personal Care Products
- Preventive and Personalized Medicinal Products
- Fitness Equipment’s
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