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Europe Corporate Health Market
Key Takeaways
- The global market for workplace wellness was valued at $47.5 billion in 2017.
- The European market for workplace wellness was worth about $17 billion in 2017. This means that the European market contributes 35.79% share of the global market (see calculation below).
- Therefore, the 2022 size of the European corporate/workplace wellness market is estimated to be valued at $19.7 billion (see calculation below).
Introduction
The current size of the European market for corporate/workplace wellness market is not publicly available. However, in the course of this research, the team found 2017 data on the size of this market. Therefore, we have leveraged available data points in the public domain to provide an estimation of the current (2022) size of the market as presented below.
Global Market Size
- A report by the Global Wellness Institute (GWI) established that the global market for workplace wellness was valued at $47.5 billion in 2017.
- The report by GWI provided a breakdown of the market for wellness as can be seen below.
- The report by GWI also revealed that the European market for workplace wellness was worth about $17 billion in 2017. This means that the European market has a 35.79% share of the global market (see calculation below).
European Market Size
- A market report from Market Data Forecast revealed that the global corporate wellness market is currently valued at $55.05 billion (2022).
- The market is projected to grow at a CAGR of 6.9% from 2022 to hit $76.86 billion by 2027.
- By triangulation, the European corporate wellness market is estimated to be currently valued at $19.7 billion (see calculation below).
Market Segmentation
- The corporate/workout wellness market is segmented by service type into:
- Fitness
- Health Risk Assessment
- Health Screening
- Smoking Cessation
- Stress Management
- Nutrition & Weight Management
- Others
- As of 2020, the health risk assessment segment had the largest share of the corporate wellness market at 21.1%.
- While by category, the market is segmented into:
- Psychological Therapists
- Fitness & Nutrition Consultants
- Organizations/Employers
- The organizations/employers segment enjoyed the highest share of the market in 2020 at 50.3%.
Research Strategy
We leverage industry reports from the most reputable market research sources such as Global Wellness Institute, Market Research Future, Market Data Forecast, and others for this research. While recent data on the size of the European market for corporate/workplace wellness is largely unavailable, we have provided estimated data through triangulation and assumption using the most recent available data. Note that we have included sources that are older than 24 months for this research. Even though this is beyond the standard practice at Wonder to always use sources published within the last 24 months, this source by GWI is vital for this research and is the most recent available publication that provides a robust breakdown of the workplace wellness market. Furthermore, this source is still cited by more recent publications such as this.
Calculations and Assumption
- If the global market for workplace wellness was $47.5 billion in 2017, and the European market was worth about $17 billion in the same year, the market share of the European market can be determined as follows: $[17/47.5]billion*100 = 35.79%.
- Assuming that the European market has maintained its 35.79% share of the market from 2017 to 2022, this implies that the European corporate/workplace wellness market can be estimated to be valued at $19.7 billion (i.e [$55.05 billion*35.79%]*100).