Health and Wellness Food Market 2020-2024|Surging Adoption of Healthy
NEW YORK, Sept. 6, 2021 /PRNewswire/ — The global health and wellness market size is expected to grow by USD 1,299.84 billion during 2020-2024, progressing at a CAGR of 6.37% during the forecast period. In the short term, the market demand will show Inferior growth due to the increase in infections and reduced economic activity. As the business impact of COVID-19 spreads, the Health and Wellness Market 2020-2024 market is expected to have Negative growth.
The increasing emphasis on the promotion of health and wellness activities and programs, surging incidences of chronic diseases, stress, and other adverse health conditions, and rising number of new product launches in the market are some of the major factors propelling the market growth. However, factors such as frequent product recalls, lack of cost transparency and value-based payments, and a high degree of disorganization, price instability, and a lack of skilled manpower might hinder the growth.
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Health And Wellness Market: Product
By product, the market is segmented into beauty and personal care products, health and wellness food, wellness tourism, fitness equipment, and preventive and personalized health. The beauty and personal care products segment held the largest market share in 2019 and will continue to lead the market during the forecast period.
Health And Wellness Market: Geographic Landscape
In terms of geography, the health and wellness market is segregated into North America, Europe, APAC, MEA, and South America. 32% of the market’s growth will originate from APAC during the forecast period with China and India emerging as the key revenue-generating economies for health and wellness in the region.
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