Health and wellness market will grow USD 1.39 billion from 2020 to 2025 • Online Plus

Punta Cana, DR.- The size of the health and wellness market is expected to grow by USD 1.39 billion from 2020 to 2025 at a CAGR of 6.29% according to the latest Technavio market report. The growing influence of thermal and mineral springs and spas is a major trend supporting the growth in health and wellness market share.

The increasing requirements to treat various physical and mental conditions such as rheumatism, circulation disorders, improving joint health, spinal ailments, bronchitis and asthma have led to a growing demand for hot springs. /minerals and spas around the world.

The growth in the number of operating spas has been seen around the world due to the increasing demand for spa services by consumers. The aforementioned factors are expected to have a positive impact on the growth of the global health and wellness market during the forecast period.

Source: Technovia

Health and Wellness Market: Market Dynamics

  • Driving: The key factor contributing to the growth of the health and wellness market is the increased emphasis on effective health and wellness products and a healthy lifestyle by consumers worldwide.
  • The increase in disposable income of lower and middle class consumers allows them to spend on health and wellness services and products.
  • Health and wellness brands are successfully marketing their products through social media to capture a broader consumer base.
  • Key providers are using optimized data from data partners like eXelate and Data Alliance Inc for promotional activities.
  • challenges: Frequent product recalls will be a major challenge for the health and wellness market during the forecast period. Product recalls not only bring a bad reputation to any industry, they also increase operational and financial constraints for companies operating in that market.

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