LONDON–(BUSINESS WIRE)–Oct 2, 2020–
The global health and wellness food market size is poised to grow by USD 1,299.84 billion during 2020-2024, progressing at a CAGR of over 6% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.
Technavio has announced its latest market research report titled Global Health and Wellness Food Market 2020-2024 (Graphic: Business Wire)
Improvements in the economic conditions of countries worldwide has increased the emphasis on effective health and wellness products. Also, rising disposable incomes have led to an increase in expenditure on health and well-being by consumers belonging to the lower and middle-class population. This has encouraged vendors to launch free health coaching, giveaway campaigns, community gatherings centered around self-care, nutrition, and other services to attract customers. Moreover, some vendors are adopting effective marketing campaigns to target specific customer demographics. Therefore, the increasing emphasis on health and wellness is expected to fuel the growth of the market during the forecast period.
- The major health and wellness food market growth came from the beauty and personal care products segment in 2019. This is due to the proliferation of online beauty and personal care retail stores worldwide.
- APAC was the largest market for health and wellness in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. This is attributed to the increasing demand for wellness tourism in the region.
- The global health and wellness food market is fragmented. Bayer AG, Brunswick Corp., Core Health & Fitness LLC, Danone SA, EVOLVE Brands LLC, General Mills Inc., Johnson Health Tech Co. Ltd., Nestlé SA, PepsiCo Inc., and The Procter & Gamble Co. are some of the major market participants. To help clients improve their market position, this health and wellness food market forecast report provides a detailed analysis of the market leaders.
- As the business impact of COVID-19 spreads, the global health and wellness food market 2020-2024 is expected to have negative. As the pandemic spreads in some regions and plateaus in other regions, we continue to revaluate the impact on businesses and update our report forecasts.
Escalating incidences of various chronic diseases will be a key market trend
The growing prevalence of various chronic diseases such as diabetes, multiple sclerosis, blood pressure, osteoporosis, asthma, arthritis, and others have forced consumers to look for preventive measures. This has increased the consumers’ expenditure on health and wellness products such as fitness equipment, healthcare devices, and supplementary diets. These factors are providing significant growth opportunities for vendors operating in the global health and wellness market.
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Health and Wellness Food Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist health and wellness food market growth during the next five years
- Estimation of the health and wellness food market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the health and wellness food market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of health and wellness food market vendors
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- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 – 2024
- Five Forces Summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Product
- Market segments
- Comparison by Product placement
- Beauty and personal care products – Market size and forecast 2019-2024
- Health and wellness food – Market size and forecast 2019-2024
- Wellness tourism – Market size and forecast 2019-2024
- Fitness equipment – Market size and forecast 2019-2024
- Preventive and personalized health – Market size and forecast 2019-2024
- Market opportunity by Product
- Geographic segmentation
- Geographic comparison
- North America – Market size and forecast 2019-2024
- Europe – Market size and forecast 2019-2024
- APAC – Market size and forecast 2019-2024
- MEA – Market size and forecast 2019-2024
- South America – Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
Drivers, Challenges, and Trends
- Market drivers
- Volume driver – Demand led growth
- Volume driver – Supply led growth
- Volume driver – External factors
- Volume driver – Demand shift in adjacent markets
- Price driver – Inflation
- Price driver – Shift from lower to higher-priced units
- Market challenges
- Market trends
- Vendor landscape
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- Bayer AG
- Brunswick Corp.
- Core Health & Fitness LLC
- Danone SA
- EVOLVE Brands LLC
- General Mills, Inc.
- Johnson Health Tech Co. Ltd.
- Nestlé SA
- PepsiCo Inc.
- The Procter & Gamble Co.
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
CONTACT: Technavio Research
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INDUSTRY KEYWORD: RETAIL FITNESS & NUTRITION HEALTH FOOD/BEVERAGE
SOURCE: Technavio Research
Copyright Business Wire 2020.
PUB: 10/02/2020 08:30 PM/DISC: 10/02/2020 08:30 PM
Copyright Business Wire 2020.