Growing demand for environmentally friendly organic products

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New York, U.S., Jan. 24, 2022 (GLOBE NEWSWIRE) — Research Dive says the global health and wellness market should bring in an income of $6,543.4 million by 2026 and go up to a CAGR of 4.8% in the forecast period of 2019 to 2026. The comprehensive Health and Wellness Market report provides a brief summary of the current market scenario along with the key aspects of the industry such as significant growth and restraining factors, challenges and multiple opportunities of growth. In addition, the report provides all market estimates, which helps new participants to better understand the global market.

Dynamics of the health and well-being market

Research Dive analysts state that growing demand for spas and thermal and mineral springs across the globe is the major factor predicted to propel the growth of the global health and wellness market. Furthermore, the growing demand for eco-friendly organic food products along with the significant growth in the need for sustainable health and wellness products and services are expected to open up huge growth opportunities for the global market in the coming years. to come. Conversely, high costs of health and wellness products and services may limit the market growth over the forecast period.

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Health and Wellness Market Segmentation:

The wellness tourism sub-segment will experience significant growth

Based on product typethe wellness tourism sub-segment is expected to exceed a turnover of $1,017.8 million by 2026 and witness lucrative growth over the analysis period. This sub-segment growth of the global health and wellness market is primarily driven by the increasing importance of wellness tourism as it plays a major role in the hospitality industry, such as resorts, hotels and tourist destinations. Moreover, wellness tourism has become one of the major strategies to attract and entertain tourists.

North America region will hold the largest market share

By region, the North American health and wellness market is expected to reach $2,519.2 million by 2026 and account for the majority of the market share over the analysis period. This is mainly due to the increasing use of health and wellness products and services in developed countries like Canada and the United States, and the growing prevalence of chronic diseases in the region. Furthermore, the presence of major manufacturers along with the growing number of product launches in the region are other factors that are expected to boost the North American health and wellness market in the near future.

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Key players in the health and wellness market

The report presents several aspects of these major players such as strategic moves and business and financial performance of key players, latest developments, SWOT analysis and product portfolio. Some of the key players in the global health and wellness market are:

  1. Abbott
  2. L’Oreal
  3. B. Braun Melsungen AG
  4. Nestle
  5. Omron Healthcare, Inc.
  6. General Mills Inc.
  7. Medtronic
  8. LifeScan
  9. Koninklijke Philips NV
  10. Animas LLC
  11. The Coca-Cola Company
  12. Johnson & Johnson Services, Inc.
  13. F. Hoffmann-La Roche Ltd.

These players are executing several strategies to gain a dominant position in the global industry.

For example, in October 2021, LR Health & Beauty, the leading direct seller of health and beauty products, announced the launch of a new aromatic wellness product segment, “LR SOUL OF NATURE”, to expand its fragrance and of well-being. – Find out for established market players to mainly adopt strategies that include technological advancements, product developments, and acquisitions.

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