United States Health and Wellness Market Size was valued at USD 1351.2 Billion in 2022. The health and wellness market industry is projected to grow from USD 1429.6 Billion in 2023 to USD 2244.4 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.80% during the forecast period (2024 - 2032).Some of the key market drivers driving the market include the increasing prevalence of various chronic conditions, people's increased awareness of leading healthier lifestyles, and the introduction of wearable technology, smartphone apps, and health monitoring tools.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The market for health and wellness is anticipated to develop in the future due to the rising prevalence of chronic illnesses. Illnesses or ailments classified as chronic are those that usually last three months or more and may get worse with time. Most chronic illnesses, which usually afflict older people, are treatable but not curable. Frequent exercise and wellness pursuits lower the chance of developing chronic diseases and enhance general health and fitness. For instance, a report released by the US-based biomedical research agency National Institutes of Health (NIH) projects that in 2023, there will be 142.6 million adults in the US who are 50 years of age or older and will have at least one chronic illness, up from 71.522 million in 2020. This represents a 99.5% increase. Furthermore, from 7.8304 million in 2020 to 14.968 million in 2050, there would be a 91.16% increase in the number of individuals with multimorbidity. Additionally, chronic noncommunicable diseases (NCDs) will account for approximately 41 million deaths annually in September 2022, or 74% of all deaths worldwide, according to the World Health Organization, a specialized US agency charged with overseeing international public health. In addition, 77% of NCD-related deaths will occur in low- and middle-income nations. Thus, the market for health and wellness is being driven by the rising cases of chronic illnesses.
The market for health and wellness is anticipated to rise as people become more aware of the importance of eating a balanced diet. A healthy diet is a well-balanced eating plan that offers necessary nutrients, enhances general health, and lowers the chance of developing chronic illnesses. Growing consumer awareness of healthy diets influences a plethora of products, services, and educational activities, stimulates innovation, and creates a market climate where health and wellness are prioritized. For instance, the 2023 food survey conducted by the US-based non-profit International Food Information Council revealed that 52% of respondents said they followed a particular diet or eating pattern, a significant increase from 39% in 2021. Calorie counting (13%), mindful eating (14%), and clean eating (16%) were the most popular options. Thus, the market for health and wellness is driven by rising awareness of the importance of a balanced diet. Thus, driving the health and wellness market revenue.
The United States Health and Wellness market segmentation, based on sector, includes Personal Care & Beauty & Anti-Aging, Nutrition & Weight Loss, Physical Activity, Wellness Tourism, Preventive & Personalized Medicine, Spa Economy, and Others. The nutrition & weight loss segment dominated the market mostly. The growing number of young people, who are increasingly conscious of their physical appearance, can be blamed for this. The desire of the younger generation to always appear well influences their choice of beauty, personal care, nutrition, and weight loss goods and services. In addition, the population's inclination towards personal care and beauty products has been stimulated by social media's growing popularity and greater penetration.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The United States is distinguished by rising consumer disposable income, rising health consciousness, rising demand for healthy products, and rising consumer knowledge of wellness and health products. The development of the US health and wellness market is also greatly aided by the existence of multiple major industry players and the diverse business techniques they employ. Additionally, one of the main causes of death in the US is cardiovascular illnesses or CVDs. 18.2 million persons in the US who are 20 years of age and older (or around 6.7% of the population) have CAD, according to the CDC. Thus, the increase in the prevalence of chronic illnesses, including diabetes, cancer, and cardiovascular disease (CVDs), is anticipated to drive the United States health and wellness market throughout the forecast period.
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the health and wellness market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the health and wellness industry must offer cost-effective items.
Major players in the health and wellness market are attempting to increase market demand by investing in research and development operations, including Amway Corp., Danone, Holland & Barrett Retail Limited, David Lloyd Leisure Ltd., Fitness First, Bayer AG, Herbalife Nutrition Ltd., Unilever Plc, Nestlé SA, L'Oréal SA, Procter & Gamble, and Vitabiotics Ltd.
May 2022:Along with Oreo Zero in China, Caramilk in Australia, and Lacta Intense in Brazil, Oreo debuted a new brand of gluten-free Oreos in the United States. These goods are the outcome of novel formulas created for clients who are health-conscious, as the company keeps emphasizing innovation in the field of health and wellbeing.
June 2021:For an undisclosed sum, INW Group, a US-based producer of personal care, sports nutrition, and nutritional supplements, purchased Capstone Nutrition, LLC. With this acquisition, INW is now positioned as a top full-service platform in this competitive and in-demand area of the health and wellness industry. The US-based company Capstone Nutrition LLC develops and produces premium health and wellness supplements.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 1351.2 Billion |
| Market Size 2023 | USD 1429.6 Billion |
| Market Size 2032 | USD 2244.4 Billion |
| Compound Annual Growth Rate (CAGR) | 5.80% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2019- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Sector and Region |
| Countries Covered | United States |
| Key Companies Profiled | Amway Corp., Danone, Holland & Barrett Retail Limited, David Lloyd Leisure Ltd., Fitness First, Bayer AG, Herbalife Nutrition Ltd., Unilever Plc, Nestlé SA, L'Oréal SA, Procter & Gamble, and Vitabiotics Ltd. |
| Key Market Opportunities | Growing number of businesses offering health and wellness services |
| Key Market Dynamics | Increase in demand for high-performance ingredients in skincare products that prevent aging. Increase in chronic lifestyle illnesses' prevalence. |
Frequently Asked Questions (FAQ) :
The United States Health and Wellness market size was valued at USD 1429.6 Billion in 2023.
The market is projected to grow at a CAGR of 5.80% during the forecast period, 2024-2032.
The key players in the market are Amway Corp., Danone, Holland & Barrett Retail Limited, David Lloyd Leisure Ltd., Fitness First, Bayer AG, Herbalife Nutrition Ltd., Unilever Plc, Nestlé SA, L'Oréal SA, Procter & Gamble, and Vitabiotics Ltd, among others.
The Nutrition & Weight Loss Containers category dominated the market in 2023.
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Assistant Manager He holds an experience of about 7+ years in market research and business consulting, working under the spectrum of life sciences and healthcare domains. rahul conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. his expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc. in addition to the above, his other responsibility includes strategic tracking of high growth markets & advising clients on the potential areas of focus they could direct their business initiatives
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