Corporate Wellness Market Overview
The Global Corporate Wellness Market Size Was Assessed At USD 63.34 Billion In 2023 And Is Forecasted To Reach USD 109.96 Billion By 2030, With A Projected Annual Growth Rate (CAGR) Of 8.2% During The Forecast Period From 2023 To 2030.
Many businesses and enterprises in various industry verticals have started implementing health programs for their employees, boosting market demand. Workplace wellness initiatives assist companies in increasing productivity while lowering overall operating expenses. As a result, the market for corporate wellness is anticipated to grow as people become more conscious of the importance of employee health and happiness.
The corporate wellness market has experienced significant growth and evolution in recent years, driven by the increasing recognition of the importance of employee health and well-being. In today’s competitive business landscape, companies are realizing that a healthy workforce is a more productive and engaged workforce.
One of the key insights into the corporate wellness market is its substantial growth trajectory. In 2023, the market was valued at USD 63.34 billion and is anticipated to reach USD 109.96 billion by 2030, reflecting a noteworthy compound annual growth rate (CAGR) of 8.2% during the forecast period from 2023 to 2030. This growth is a testament to the rising demand for corporate wellness programs that encompass physical fitness, mental health support, nutrition, and stress management.
Another significant insight is the adoption of technology in corporate wellness solutions. Companies are increasingly leveraging digital platforms and wearables to track and improve employees’ health. These tech-driven solutions provide real-time data, fostering a proactive approach to wellness management.
Additionally, the COVID-19 pandemic has underscored the importance of wellness programs, with many companies emphasizing the need for resilience, mental health support, and remote work solutions. As a result, the corporate wellness market is expected to continue expanding as organizations prioritize employee well-being, realizing that it not only improves overall health but also enhances productivity, reduces absenteeism, and boosts employee retention. This sector’s growth underscores a fundamental shift in corporate culture towards holistic well-being and the recognition that a healthy workforce is a strategic asset.
COVID-19 Impact Analysis
The COVID-19 pandemic has significantly negatively influenced workers’ mental health. After it started, it resulted in the shift to working from home, which caused a great deal of stress among employees owing to a sense of isolation. Additionally, the pandemic’s effects on the economy caused many people to experience a financial crisis, impacting their mental health. As a result, wellness service providers are using virtual ways to offer services, including consultations with psychologists and health coaches to address the issue.
Corporate Wellness Market Segmentation:
The global Corporate Wellness Market is segmented based on Service (Health Risk Assessment, Fitness), By End-use, By Category, and Delivery Model (Onsite, Offsite).
By Service, the Health Risk Assessment Segment dominated the Corporate Wellness Market.
The critical components of corporate wellness programs are screening activities to detect health concerns and implementing suitable interventional measures to encourage employees to live healthy lifestyles. A health risk assessment of their employees is chosen by about 80% of firms that offer services for employee wellbeing. Wellness Corporate Solutions introduced the WCS Analytics Plus platform in June 2016. It comprises an interactive data dashboard that helps clients plan and carry out healthy activities that promote productive workplaces.
By End-use, The Large-Scale Organizations Segment Is Expected to Be the Largest Contributor During the Forecast Period.
By End-use, RAND estimates that in 2013, almost 70% of organizations spent money on health screening services. According to well-researched studies, initiatives that are well-executed can generate a 3:1 return on investment. The infrastructure of larger organizations might include programs and services. Smaller businesses can profit from corporate memberships and service outsourcing.
Corporate Wellness Market Dynamics
Drivers:
Longer working hours and a longer life expectancy
Many vital elements influence the market and propel the corporate wellness industry forward. They are essential for a holistic approach, which entails that both employers and employees work together to produce their best work while maintaining the health of the workplace culture. Employees must put in longer hours at work because of the increased competitiveness and need to survive in the corporate sector, which strains their ability to live healthy, long lives. The company chooses a variety of wellness programs and policies that ultimately support the corporate wellness industry to preserve the productivity and well-being of the workforce.
Growing awareness about stress and the prevalence of chronic diseases
Working-class people have developed a workaholic work ethic, which keeps them so busy and stressed out that they fail to manage their lives and negatively impact their physical and mental health. The rise in stress and sadness has made it necessary to manage employees’ behavioral and mental health, which has led to a demand for wellness programs from organizations for their staff. As a result, this fuels market expansion and acts as the primary driver of demand for health-related goods and services.
Corporate Wellness Regional Analysis
North America is expected to account for the largest market size during the forecast period.
North America dominated the corporate wellness market and accounted for the largest revenue share of more than 39% in 2022. In the United States, roughly 50.0% of firms offer wellness programs to their staff, according to the RAND Employer survey. More excellent employers provide more sophisticated wellness programs.
Over the forecast period, Asia Pacific is expected to experience an unprecedented growth rate. Corporate wellness initiatives are required in the Asia Pacific region due to the region’s expanding working population and rising employee health management awareness.
Key Market Players and Competitive Landscape
Some of the primary key players operating in the market are ComPsych, Wellness Corporate Solutions, Virgin Pulse, Provant Health Solutions, EXOS, Marino Wellness, Privia Health, Vitality Group, Wellsource, Inc., Central Corporate Wellness, Truworth Wellness, SOL Wellness, Well Nation, ADURO, INC., Beacon Health Options, and Fitbit, Inc.
This report categorizes the Corporate Wellness Market as follows,
- Health Risk Assessment
- Fitness
- Smoking Cessation
- Health Screening
- Nutrition & Weight Management
- Stress Management
- Others
End-use Outlook
- Small-Scale Organizations
- Medium Scale Organizations
- Large Scale Organizations
Category Outlook
- Fitness & Nutrition Consultants
- Psychological Therapists
- Organizations/Employers
Delivery Model Outlook
Table of Content
Corporate Wellness Market Size, Share, Growth, and Forecast Report
1. Introduction
1.1. Report Description
1.1.1. Aim of the Report
1.1.2. Prospective Audience
1.1.3. Unique Selling Prepositions and Key Takeaways from the Report
1.2. Scope of the Research Study
1.3. Approach/Research Methodology
1.3.1. Secondary Research
1.3.2. Primary Research
1.3.3. Expert Panel Review
1.3.4. Market Data Breakdown and Data Triangulation
1.3.5. Research Approach for Market Size Estimation
1.3.5.1. Top-Down Approach
1.3.5.2. Bottom-Up Approach
1.3.6. Key Assumptions
1.4. Market Segmentation
1.4.1. Service
1.4.2. Category
1.4.3. Delivery Model
1.4.4. End-use
2. Corporate Wellness Market Overview
2.1. Introduction
2.2. Analysis by Service, 2016-2028 (US$ Million)
2.3. Analysis by End-use, 2016-2028 (US$ Million)
2.4. Analysis by Category, 2016-2028 (US$ Million)
2.5. Analysis by Delivery Model, 2016-2028 (US$ Million)
2.6. Market Analysis by Region, 2016-2028 (US$ Million)
3. Corporate Wellness Market Dynamics
3.1. Introduction
3.2. Growth Drivers
3.3. Growth Restraints
3.4. Growth Opportunities
3.5. Porter’s Five Forces Analysis
3.5.1. Threat of New Entrants
3.5.2. Bargaining Power of Buyers/Consumers
3.5.3. Bargaining Power of Suppliers
3.5.4. Threat of Substitute Services
3.5.5. Intensity of Competitive Rivalry
3.6. Attractiveness Analysis
3.6.1. Service
3.6.2. End-use
3.6.3. Category
3.6.4. Delivery Model
3.6.5. Region
3.7. Value Chain Analysis
4. Corporate Wellness Market Competition Analysis
4.1. Corporate Wellness Market Share Analysis by Company, 2019 – 2021
4.1.1. Top 3 Players, 2019 – 2021
4.1.2. Top 6 Players, 2019 – 2021
4.2. Strategic Initiatives
4.2.1. New Products Launch
4.2.2. Mergers/Acquisitions
4.2.3. Agreement and Collaborations
4.2.4. Partnerships, Joint Ventures, Expansion, and Distribution
5. Global Corporate Wellness Market Analysis by Service, Category, and End-use, 2016-2028 (US$ Million)
5.1. Service
5.1.1. Global Corporate Wellness Market Share, by Service, 2021 and 2028
5.1.2. Global Corporate Wellness Market Revenue, by Service, 2016-2028 (US$ Million)
5.1.3. By Health Risk Assessment Market Analysis 2016-2028 (US$ Million)
5.1.4. By Fitness Market Analysis 2016-2028 (US$ Million)
5.1.5. By Smoking Cessation Market Analysis 2016-2028 (US$ Million)
5.1.6. By Health Screening Market Analysis 2016-2028 (US$ Million)
5.1.7. By Nutrition & Weight Management Market Analysis 2016-2028 (US$ Million)
5.1.8. By Stress Management Market Analysis 2016-2028 (US$ Million)
5.2. End-use
5.2.1. Market Share, by End-use, 2021 and 2028
5.2.2. Market Revenue, by End-use, 2016-2028 (US$ Million)
5.2.3. By Small-Scale Organizations Market Analysis 2016-2028 (US$ Million)
5.2.4. By Medium Scale Organizations Market Analysis 2016-2028 (US$ Million)
5.2.5. By Large-Scale Organizations Market Analysis 2016-2028 (US$ Million)
5.3. Category
5.3.1. Market Share, by Category, 2021 and 2028
5.3.2. Market Revenue, by Category, 2016-2028 (US$ Million)
5.3.3. By Fitness & Nutrition Consultants Market Analysis 2016-2028 (US$ Million)
5.3.4. By Psychological Therapists Market Analysis 2016-2028 (US$ Million)
5.3.5. By Organizations/Employers Market Analysis 2016-2028 (US$ Million)
5.4. Delivery Model
5.4.1. Market Share, by Delivery Model, 2021 and 2028
5.4.2. Market Revenue, by Delivery Model, 2016-2028 (US$ Million)
5.4.3. By Onsite Market Analysis 2016-2028 (US$ Million)
5.4.4. By Offsite Market Analysis 2016-2028 (US$ Million)
6. Global Corporate Wellness Market Service Analysis by Region, 2016-2028 (US$ Million)
6.1. Health Risk Assessment Market Analysis 2016-2028 (US$ Million)
6.1.1. North America
6.1.2. Europe
6.1.3. Asia Pacific
6.1.4. Latin America
6.1.5. Middle East & Africa
6.2. Fitness Market Analysis 2016-2028 (US$ Million)
6.3. Smoking Cessation Market Analysis 2016-2028 (US$ Million)
6.4. Health Screening Market Analysis 2016-2028 (US$ Million)
6.5. Nutrition & Weight Management Market Analysis 2016-2028 (US$ Million)
6.6. Stress Management Market Analysis 2016-2028 (US$ Million)
7. Global Corporate Wellness Market End-use Analysis by Region, 2016-2028 (US$ Million)
7.1. Small-Scale Organizations Market Analysis 2016-2028 (US$ Million)
7.1.1. North America
7.1.2. Europe
7.1.3. Asia Pacific
7.1.4. Latin America
7.1.5. Middle East & Africa
7.2. Medium Scale Organizations Market Analysis 2016-2028 (US$ Million)
7.3. Large-Scale Organizations Market Analysis 2016-2028 (US$ Million)
8. Global Corporate Wellness Market Category Analysis by Region, 2016-2028 (US$ Million)
8.1. Fitness & Nutrition Consultants Market Analysis 2016-2028 (US$ Million)
8.1.1. North America
8.1.2. Europe
8.1.3. Asia Pacific
8.1.4. Latin America
8.1.5. Middle East & Africa
8.2. Psychological Therapists Market Analysis 2016-2028 (US$ Million)
8.3. Organizations/Employers Market Analysis 2016-2028 (US$ Million)
9. Global Corporate Wellness Market Delivery Model Analysis by Region, 2016-2028 (US$ Million)
9.1. Onsite Market Analysis 2016-2028 (US$ Million)
9.1.1. North America
9.1.2. Europe
9.1.3. Asia Pacific
9.1.4. Latin America
9.1.5. Middle East & Africa
9.2. Offsite Market Analysis 2016-2028 (US$ Million)
10. Corporate Wellness Market Analysis by Geography, 2016-2028 (US$ Million)
10.1. North America Corporate Wellness Market Analysis 2016-2028 (US$ Million)
10.1.1. U.S. Corporate Wellness Market Analysis 2016-2028 (US$ Million)
10.1.1.1. Service
10.1.1.2. End-use
10.1.1.3. Category
10.1.1.4. Delivery Model
10.1.2. Canada Corporate Wellness Market Analysis 2016-2028 (US$ Million)
10.1.3. Mexico Corporate Wellness Market Analysis 2016-2028 (US$ Million)
10.2. Europe Corporate Wellness Market Analysis 2016-2028 (US$ Million)
10.2.1. UK Corporate Wellness Market Analysis 2016-2028 (US$ Million)
10.2.1.1. Service
10.2.1.2. End-use
10.2.1.3. Category
10.2.1.4. Delivery Model
10.2.2. France Corporate Wellness Market Analysis 2016-2028 (US$ Million)
10.2.3. Germany Corporate Wellness Market Analysis 2016-2028 (US$ Million)
10.2.4. Spain Corporate Wellness Market Analysis 2016-2028 (US$ Million)
10.2.5. Russia Corporate Wellness Market Analysis 2016-2028 (US$ Million)
10.2.6. Italy Corporate Wellness Market Analysis 2016-2028 (US$ Million)
10.2.7. Rest of Europe Corporate Wellness Market Analysis 2016-2028 (US$ Million)
10.3. Asia Pacific Corporate Wellness Market Analysis 2016-2028 (US$ Million)
10.3.1. China Corporate Wellness Market Analysis 2016-2028 (US$ Million)
10.3.1.1. Service
10.3.1.2. End-use
10.3.1.3. Category
10.3.1.4. Delivery Model
10.3.2. Japan Corporate Wellness Market Analysis 2016-2028 (US$ Million)
10.3.3. South Korea Corporate Wellness Market Analysis 2016-2028 (US$ Million)
10.3.4. India Corporate Wellness Market Analysis 2016-2028 (US$ Million)
10.3.5. Australia Corporate Wellness Market Analysis 2016-2028 (US$ Million)
10.3.6. Southeast Asia Corporate Wellness Market Analysis 2016-2028 (US$ Million)
10.3.7. Taiwan Corporate Wellness Market Analysis 2016-2028 (US$ Million)
10.3.8. Rest of Asia Pacific Corporate Wellness Market Analysis 2016-2028 (US$ Million)
10.4. Latin America Corporate Wellness Market Analysis 2016-2028 (US$ Million)
10.4.1. Brazil Corporate Wellness Market Analysis 2016-2028 (US$ Million)
10.4.1.1. Service
10.4.1.2. End-use
10.4.1.3. Category
10.4.1.4. Delivery Model
10.4.2. Argentina Corporate Wellness Market Analysis 2016-2028 (US$ Million)
10.4.3. Rest of Latin America Corporate Wellness Market Analysis 2016-2028 (US$ Million)
10.5. Middle East Corporate Wellness Market Analysis 2016-2028 (US$ Million)
10.5.1. Israel Corporate Wellness Market Analysis 2016-2028 (US$ Million)
10.5.2. Turkey Corporate Wellness Market Analysis 2016-2028 (US$ Million)
10.5.3. Saudi Arabia Corporate Wellness Market Analysis 2016-2028 (US$ Million)
10.5.4. UAE Corporate Wellness Market Analysis 2016-2028 (US$ Million)
10.5.5. Rest of Middle East Corporate Wellness Market Analysis 2016-2028 (US$ Million)
10.6. Africa Corporate Wellness Market Analysis 2016-2028 (US$ Million)
10.6.1. Egypt Corporate Wellness Market Analysis 2016-2028 (US$ Million)
10.6.1.1. Service
10.6.1.2. End-use
10.6.1.3. Category
10.6.1.4. Delivery Model
10.6.2. South Africa Corporate Wellness Market Analysis 2016-2028 (US$ Million)
10.6.3. Rest of Africa Corporate Wellness Market Analysis 2016-2028 (US$ Million)
11. Company Profiles
11.1. ComPsych
11.1.1. Company Overview
11.1.2. Financial Performance
11.1.3. Product Benchmarking
11.1.4. Strategic Initiatives
11.2. Wellness Corporate Solutions
11.3. Virgin Pulse
11.4. Provant Health Solutions
11.5. EXOS
11.6. Marino Wellness
11.7. Privia Health
11.8. Vitality Group
11.9. Wellsource, Inc.
11.10. Central Corporate Wellness
11.11. Truworth Wellness
11.12. SOL Wellness
11.13. Well Nation
11.14. ADURO, INC.
11.15. Beacon Health Options
11.16. Fitbit, Inc.
12. COVID-19 Impact Analysis
12.1. Global Corporate Wellness Market, 2020 – 2028, Pre-V/S Post COVID 19
12.2. Estimated Impact of The Coronavirus (Covid-19) Epidemic on the Corporate Wellness Market Size In 2022, By Scenario
12.3. Impact on Supply Chain and Production in Corporate Wellness Market
12.4. Impact on Import and Export
13. Conclusion
