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What is the predicted growth of the global health and wellness market over the next 3 - 5 years.
Hello! Thanks for your question about the projected size of the global health and wellness market over the next 3 to 5 years.
The short version is that the global health and wellness market is projected to reach $4.94 trillion in 2020.
Below you will find a deep dive of my findings.
GLOBAL HEALTH AND WELLNESS MARKET SIZE AND GROWTH
To answer your question, I combined findings from two market reports prepared by research firms independent of the global health and wellness market itself. The first is the Global Wellness Institute's "Global Wellness Economy Monitor 2017" which gives the market size of the global health and wellness industry as $3.7 trillion in 2015. The second report is Research and Markets' "Global Health and Wellness Market 2016-2020" which gives the compound annual growth rate (CAGR) of the global health and wellness industry as 5.9% during the period of 2016 to 2020. Applying the CAGR of 5.9% to the current market size gives us the projected market size of the global health and wellness market as $4.94 trillion in 2020 and $5.54 trillion in 2022.
GLOBAL HEALTH AND WELLNESS MARKET SEGMETNS
The Global Wellness Institute (GWI) is a non-profit global research firm focused on the global wellness industry. In its "Global Wellness Economy Monitor 2017" report, GWI developed original market estimates and projections for the following 5 wellness sectors:
• Spa Facilities
Market size: $77.6 billion (2015)
Projected market size: $103.9 billion (2020)
Average annual growth rate: 6% (2015-2020)
• Thermal / Mineral Springs
Market size: $51 billion (2015)
Projected market size: $64.6 billion (2020)
Average annual growth rate: 4.8% (2015-2020)
• Wellness Tourism
Market size: $563.2 billion (2015)
Projected market size: $808 billion (2020)
Average annual growth rate: 7.5% (2015-2020)
• Workplace Wellness
Market size: $43.3 billion (2015)
Projected market size: $55.1 billion (2020)
Average annual growth rate: 5% (2015-2020)
• Wellness Lifestyle Real Estate
Market size: $118.6 billion (2015)
Projected market size: $152.8 billion (2020)
Average annual growth rate: 5.2% (2015-2020)
GWI does not provide market size projections or growth rates for the remaining 5 market segments below as the research firm only collects and analyzes data from secondary resources for the following markets. I have researched separate market size projections and growth rates for the remaining industry segments below. These reports are prepared by market research firms independent of the global health and wellness industry.
Projected market size: $216.52 billion (2021)
Compound annual growth rate: 7.5% (2015-2020)
Market size: $183.1 billion (2015)
Projected market size: $249.4 billion (2020)
Compound annual growth rate: 6.4% (2015-2020)
Market size: $1,007 billion (2014)
Projected market size: $2,452 billion (2022)
Compound annual growth rate: 11.8% (2015-2020)
Market size: $183.1 billion (2015)
Projected market size: $249.4 billion (2020)
Compound annual growth rate: 6.4% (2015-2020)
Market size: $10 billion (2015)
Projected market size: $12.5 billion (2021)
Compound annual growth rate: 4% (2015-2020)
CONCLUSION
To wrap it up, the global health and wellness market is projected to reach $4.94 trillion in 2020 and $5.54 trillion in 2022. The market size and projections for its segments are also provided for you above.
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