ALBANY, N.Y., April 26, 2022 (GLOBE NEWSWIRE) -- Relentless focus on expanding the portfolio of skincare and anti-aging products have pivoted several lucrative avenues in the health and wellness market. In recent years, especially after the outbreaks of COVID-19 pandemic, the emphasis on wellness has gained strong momentum, spurring industry stakeholders to tap into new revenue streams. The global health and wellness market valuation was pegged at more than US$ 4.1 Trn in 2020, and is projected to exceed US$ 6.94 Trn by 2031.
The growing commercialization of multi-functional personal care products such as for skincare and hand care has propelled revenue possibilities, finds an in-depth TMR study on the health and wellness market. The authors of the study also assert that hand care premiumization is a trend that has picked up enormous pace in emerging markets such as in Asia Pacific. Furthermore, the upsurge in sales of alcohol-based hand sanitizers and skincare products for all demographics has contributed to the rapidly expanding size of the health and wellness market.
Personal care product manufacturers over the years have geared toward adopting eco-friendly packaging materials and sustainable sourcing and manufacturing processes, thus expanding lucrative frontiers in the health and wellness market. Further, in several of the hygiene products, health-promoting ingredients are expanding the avenue for these players.
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Key Findings of Health and Wellness Market Study
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Health and Wellness Market: Key Drivers
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Health and Wellness Market: Regional Growth Dynamics
Health and Wellness Market: Key Players
Some of the key players in the health and wellness market are Healing Holidays (Cleveland Travel Ltd.), BodyHoliday Saint Lucia, Lift Brands, Anytime Fitness LLC, Herbalife Nutrition Ltd., Abbott Laboratories, BioThrive Sciences, Unilever plc., L'Oral S.A., The Este Lauder Companies Inc., and Anti-ageing Facial Tools.
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Global Health and Wellness Market: Segmentation
Modernization of healthcare in terms of both infrastructure and services have pushed the healthcare industry to new heights, Stay Updated with Latest Healthcare Industry Research Reports by Transparency Market Research:
Sexual Wellness Market: Global health organizations and efforts of voluntary organizations for the betterment of women health in underdeveloped countries are also stoking the demand for sexual wellness products, especially sex toys. These organizations conduct adult health awareness workshops periodically for preventive care.
Wellness Tourism Market: The rising demand for services from the global wellness tourism market can be attributed to rising demand for healthy living, stress reduction, gaining authentic experiences, preventing diseases, and managing and changing poor or toxic lifestyle habits or choices.
Health & Wellness Services Market: Rise in awareness about health and wellness services among employers, increase in health care costs, and surge in incidence of chronic diseases are driving demand for health and wellness services in the corporate segment and increasing investments in corporate wellness programs. These factors are expected to drive the global health & wellness services market during the forecast period.
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