Corporate Wellness Market

Global Corporate Wellness Market Size (2024 to 2032)

The global corporate wellness market is estimated to be worth USD 59.69 billion in 2024 and is projected to reach a valuation of USD 102 billion by 2032. it is predicted to register a CAGR of 6.9% from 2024 to 2032.

Corporate wellness has become a modern trend and necessity for organizations to keep up with employee health and well-being, encouraging market growth. Besides, corporate well-being services during COVID-19 and post-COVID-19 emphasize mental health interventions to assist staff in these unprecedented times. While mental health services have become part of the well-being of the workplace, the pandemic has exposed the need to move it to the workplace.

MARKET DRIVERS

The growing awareness among corporates regarding employee health and well-being is one of the primary factors promoting the global corporate wellness market growth.

A significant increase in the prevalence of chronic diseases worldwide and the acceptance of sedentary lifestyles are some of the key factors driving the market growth. As the work culture advanced through humanity's experiences, it accompanied many benefits and hazards. The incorporation of innovative at work may have made things simpler at work. In any case, this occurred at the expense of less busy work, which is a fundamental necessity for an individual to have a healthy existence; with more hours spent in the work area and less on one's well-being, a worker battles to keep up healthy living as long as possible. This condition can change by moving toward corporate well-being programs, which leads to a compelling method to instruct representatives on the significance of creating healthy habits, including health objectives, which are projected to drive interest in corporate well-being programs.

Moreover, corporate programs manage stress to overcome mental illnesses and other chronic diseases. Openness and accessibility of these projects in numerous organizations for keeping up representative well-being, including Google, Accenture, and Microsoft, should encourage business development.

The rising awareness and increasing number of initiatives around corporate wellness are further accelerating the growth of the global market.

Corporate health has advanced as of late. Business pioneers currently comprehend that worker prosperity includes substantially more than actual well-being. Therefore, health programs have advanced from being an additional advantage in HR to the foundation of an organization's business technique. Henceforth, organizations are setting up available wellness habitats, Paramedical administrations, Yoga classes, Wellness experiences, Stress management and resilience workshops, and Emotional intelligence leadership training. The prologue to such projects is intended to help and urge a comprehensive way to deal with representative prosperity by making a hierarchical culture of well-being advantageous for the corporate wellness industry development. Besides, service providers provide both in-house and outsourced healthcare services, which serve as an opportunity to develop the corporate wellness market.

Key market participants such as Georgia Pacific, Autodesk, and NetApp use smartphone applications, smart devices, and employee data to monitor the health of their workers on the market. The use of data analytics will also help companies develop customized services and add to revenues in the global corporate wellness industry. Also, the desire to reduce growing healthcare costs, the healthcare services given to workers, and the economic incentives presented by these systems have led to the growth of the corporate wellness industry.

MARKET RESTRAINTS

However, massive costs for the market participants to implement occupational health policies and a high return on investment from wellness services are expected to hinder corporate wellness market growth. Nonetheless, the arrival of a new age of personalized education and solutions to the individualized well-being of each employee through AI will change the global corporate wellness industry.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Corporate Wellness Market Analysis By Service Type

The health risk assessment segment will lead the corporate wellness market during the forecast period. The screening activities to identify health risks and implement appropriate interventional strategies are involved in corporate wellness to develop a good lifestyle. More than 80% of employers offer employee well-being services. In addition, Wellness Corporate Solutions launched the WCS Analytics + platform in 2016. These are the factors that led to the health risk assessment segment. The Nutrition and weight management segment is anticipated to witness the highest growth during the forecast period. The presence of healthcare apps that provide actual and specific data boosts the Nutrition and weight management segment during the forecast period.

Global Corporate Wellness Market Analysis By Category

The organization's segment is projected to dominate the market during the forecast period. The awareness programs by organizations are driving the segment. Corporate wellness has become a modern trend and needs organizations to keep up with employee health and well-being, encouraging market growth. The Fitness and Nutrition Consultants are anticipated to grow high in the upcoming years. The rise in awareness about secured healthcare is driving the segment's growth. The Fitness and Nutrition Consultants provides numerous programs for individual health conditions.

Global Corporate Wellness Market Analysis By End User

The large-scale businesses segment led the market in 2023. The tremendous increase in organizations' investments in health screening services for better employee care drives large-scale businesses. For instance, according to RAND, in 2013, more than 70% of organizations invested in health screening services.

REGIONAL ANALYSIS

North America is predicted to lead the global corporate wellness market during the forecast period. The rise in population and change in lifestyle negatively impact the employee's health, affecting the corporate owners towards health benefits. During the forecast period, the United States is the most significant contributor to the North American corporate wellness market due to the growing technology used to improve outcomes and the rising artificial intelligence reign. Moreover, a change in perspective toward corporate wellness programs due to incorporating social connectivity is another crucial factor that boosted the region's target market's growth. The increasing awareness of healthy eating habits & exercise, the high prevalence of obesity, and the decreasing insurance and healthcare costs are the factors that propel the growth of the Canada Corporate Wellness Market.

Europe is the second-largest market globally, followed by North America. The primary factor that has driven the growth of the target market in Europe is the access to workspace wellness programs for most of the employees in this region.

However, APAC is estimated to grow with the highest CAGR, followed by Latin America. These regions are anticipated to be the market's growth drivers during the forecast period, the growing working population in the Asia Pacific. Besides, the need for corporate wellness programs in the region due to the awareness regarding employees' health management is another critical factor that fuelled the growth of the target market in the area. 

KEY PLAYERS IN THE GLOBAL CORPORATE WELLNESS MARKET

Companies playing a major role in the global corporate wellness market include EXOS, Wellness Corporate Solutions, ComPsych, Provant Health Solutions, Virgin Pulse, Marino Wellness, Vitality Group, Wellsource, and Central Corporate Wellness.

RECENT HAPPENINGS IN THE MARKET

• In March 2021, Vitality Products Inc., one of the subsidiaries of Vitality Groups which makes the lines of vitamins and natural health supplements, launched a four-month advertising campaign to increase sales and market shares, where the three radio spots will play 960 times over three months on two radio stations (Z95.3 FM and the Breeze 104.3 FM) and align with a four-month digital marketing campaign of social media (Facebook), display, retargeting and search.
• In July 2020, Wellsource, Inc., a leading provider of health risk assessment tools and wellness tools for 40 years, was chosen as a trusted vendor to provide a health risk assessment (HRA) solution by Certintell Inc. clients serving the Medicare patient population.

DETAILED SEGMENTATION OF THE GLOBAL CORPORATE WELLNESS INCLUDED IN THIS REPORT

This research report on the global corporate wellness market has been segmented and sub-segmented based on service type, Category, end-user, and region.

By Service Type

• Health Risk Assessment
• Stress Management
• Nutrition & Weight Management
• Smoking Cessation
• Fitness
• Health Screening
• Others

By Category

• Fitness & Nutrition Consultants
• Psychological Therapists
• Organizations

By End User

• Small-scale Businesses
• Medium-scale Businesses
• Large-scale Businesses

By Region

• North America
  • The United States
  • Canada
  • Rest of North America
• Europe
  • United Kingdom
  • Germany
  • France
  • Spain
  • Italy
  • Rest of EU
• Asia Pacific
  • India
  • China
  • Japan
  • Australia
  • New Zealand
  • South Korea
  • Rest of APAC
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Chile
  • Rest of Latin America
• The Middle East and Africa