Corporate Wellness: Market Size
- The UK's corporate wellness market size stood at an estimated $8,500,000,000 or £6,208,870,000 in 2017.
- The Global corporate wellness market size was approximately $56,997,000,000 or £41,633,800,000 in 2020.
- The UK's corporate wellness market size was valued at an estimated £7,498,260,000 in 2020.
This research provides the size of the corporate wellness market (UK and global). Due to the lack of information on UK corporate wellness market size from the public domain (only available behind paywalls), the same has been triangulated using data points derived from different sources. Further details of the methodology used (including calculations and assumptions) are outlined in the 'Research Strategy' section. The findings of this research have also been presented in the attached document.
UK Corporate Wellness Market Size
- In 2017, the UK's corporate wellness market was valued at $8.5 billion.
- Mordor Intelligence reported that the global corporate wellness market grew at a CAGR of 6.51 % between 2018 and 2026.
Global Corporate Wellness Market Size
- The global corporate wellness market was, in 2020, valued at $56,997,000,000, an equivalent of £6,208,870,000.
For the research on 'Corporate Wellness: Market Size', we leveraged the most reputable sources available in the public domain, including market research sites such as Mordor Intelligence, Ibis World, and Markets and Markets, among others. Finding the UK's corporate wellness market size proved to be a challenge as the same information was hidden under paywalls, such as in the case of this 360iResearch on the United Kingdom's Corporate Wellness Market. Therefore, the research team resorted to finding data points to triangulate the required UK market size for the corporate wellness industry. From industry insights published by Beroe Advantage Procurement, we determined that the UK's corporate wellness market was valued at $8.5 billion in 2017. We, therefore, sought to find the compound annual growth rate of the market within the period, to be able to triangulate the 2020 market size. Even after extensive research, we could not find a CAGR for the UK or Europe's corporate wellness market between 2017 and 2020. Therefore, the research team resorted to using the CAGR (of 6.51%) for the global corporate wellness market between 2018 and 2026 (as published by Mordor Intelligence), assuming that the UK market witnessed the same growth rate as the global market in the same period. The calculations are as shown below;
- UK corporate wellness market size in 2017= $8.5 billion
- CAGR = 6.51 %
Using the Reverse CAGR Calculator;
- UK corporate wellness market size in 2018= (6.51 × 8.5)/100 + 8.5= $9.05 billion
- UK corporate wellness market size in 2019= (6.51 × 9.05)/100 + 9.05= $9.64 billion
- UK corporate wellness market size in 2020= (6.51 × 9.64)/100 + 9.64= $10.27 billion
Using the Bankrate Currency Converter, $10,270,000,000 is equivalent to £7,498,260,000