Corporate Wellness Market to Soar Across Globe, Per Report
A new market report on corporate wellness brings great news to platforms such as Wellhub
The corporate wellness market is set for steady growth from 2024 to 2030, projected to increase by 7.1% to nearly $104.82 billion, according to a new finding from Maximize Market Research.
The business consultancy firm has released an updated analysis of the corporate wellness market, forecasting good news for platforms such as Wellhub (formerly Gympass) and GoJoe, which serve leading businesses.
At the heart of the anticipated growth is an emerging emphasis on employee health and wellness. When left unmanaged, poor health can lead to higher stress levels and costly lifestyle diseases, ultimately affecting a company’s bottom line. Businesses are taking note and are increasingly seeking ways to support staff well-being to reduce absenteeism and boost productivity. The same focus also aids in attracting top talent and retaining employees.
Healthy eating platform Lifesum, which serves over 65 million users and has partnered with smart ring leader Oura has routinely issued reports showcasing how important well-being programs are to employees of all generations, from hormonal health, menstrual health, diet and stress management.
As for Maximize Market Research, the firm highlights that technological advancements—such as the integration of wearables, mobile apps and AI into wellness programs—have made personalized wellness solutions more accessible.
Finally, the report notes that several government initiatives (seen in the U.S., Europe, Asia and Singapore) are encouraging businesses to invest in employee health, providing yet another positive driver for the future of the corporate wellness market.
Maximize Market Research also provides insightful, country-specific information regarding the corporate wellness market. While the U.S. remains the largest player in the sector, other countries are emerging for various reasons and showing their unique interest in several categories.
For instance, Vietnam is experiencing growth in corporate wellness services driven by its growing middle-class workforce. Meanwhile, Thailand is emphasizing mental health and holistic well-being for its workers, while South Korea is embracing mobile apps, wearables and online health platforms.
Japan, a long-time advocate of well-being initiatives with strong government support, continues to see companies like Fitbit thrive in its corporate sector. In Singapore, mental wellness programs are an area of interest in the workplace wellness space.
Over in Europe, the corporate wellness market (much like the U.S.) is booming — particularly in Germany, France and the U.K. The report attributes the growth to the European Union’s increasing focus on employee well-being.
Maximize Market Research’s report can be found here.
