U.S. Corporate Wellness Market: Fitness & Nutrition Consultants Segment Is Expected To Exhibit The Fastest Growth Of 4.38%

 U.S. Corporate Wellness Industry Overview

The U.S. corporate wellness market size is expected to reach USD 24.8 billion by 2030, expanding at a CAGR of 3.87% during the forecast period, based on a new report by Grand View Research, Inc. Increasing awareness regarding wellness services at the workplace, high Return on Investment (ROI), and reduction in expenditure on employee healthcare costs are some of the factors driving the market growth.

The increasing awareness regarding the benefits of wellness services in reducing the cost of absenteeism due to loss of productivity is encouraging employers to adopt corporate wellness services. In 2019, the Centers for Disease Control and Prevention (CDC) reported that around 30% of employers offered a wellness program for addressing sedentary behavior, fitness, or physical activity. It also stated that approximately 19% and 17% of employers offered programs, including tobacco cessation and obesity or weight management, respectively.

The service providers are undertaking research and development activities to provide innovative solutions to offer better employee service. Moreover, they are engaging in partnerships and mergers & acquisitions to strengthen their market presence. For instance, in January 2018, Virgin Pulse, digital employee health, wellbeing, and engagement solutions provider, acquired Preventure, a Coventry-based corporate wellness provider. The acquisition will provide Preventure customers access to software solutions and increase Virgin Pulse clientele.

The COVID-19 pandemic is creating a feeling of isolation among employees and financial insecurity, which is affecting their mental health. Wellness providers are adopting various measures, such as guiding tackling the financial crisis, virtual access to physicians and psychologists, and programs to engage employees in wellness activities, to promote and maintain their health.


U.S. Corporate Wellness Market Segmentation

Grand View Research has segmented the U.S. corporate wellness market based on service, end-use, category, delivery model, and region:

Based on the Service, the market is segmented into Health Risk Assessment, Fitness, Smoking Cessation, Health Screening, Nutrition & Weight Management, Stress Management, and Others.

  • The HRA analyzes information such as height, weight, level of physical activity, smoking habits, and stress level of the employees to derive the risk factors affecting the employees’ health. The segment growth is attributed to the growing trend to adopt health risk assessment as a service while offering employee wellness services.
  • The stress management segment is anticipated to witness a maximum CAGR of 5.33% during the forecast period. due to the increasing prevalence of stress in the workplace. The health screening segment is projected to witness growth owing to the increasing emphasis on preventing health. 

 

Based on the End-use, the market is segmented into Small Scale Organizations, Medium Scale Organizations, and Large Scale Organizations.

  • The focus on such conditions can reduce the disease burden and the overall cost of healthcare premiums paid by the employer to any insurance provider. Although lockdown and closure of offices have resulted in a large group of employees switching to work from home models, it remains vital to ensure that employees can access and continue to use health services at the workplace.
  • The medium-scale organizations segment is projected to register the highest CAGR of 4.30% during 2023-2030. The quick adoption of these services by medium-scale organizations is expected to contribute to the growth of the segment in the coming years. Rising awareness about employee health programs and increased absenteeism and attrition are anticipated to boost the growth of small and medium-scale organizations.

 

Based on the Category, the market is segmented into Fitness & Nutrition Consultants, Psychological Therapists, and Organizations/Employers.

  • The organizations/ employers segment with 49.9% in 2022 accounted for the maximum portion of the market. The service providers offer in-house as well as outsourced health management services for large as well as small-scale corporations.
  • The trend of on-site fitness, which includes yoga and meditation, is becoming popular. Employers are significantly investing in offering healthy diets by providing catering options on campus and are hiring fitness coaches for their employees. Therefore, The fitness & nutrition consultants segment is expected to exhibit the fastest growth of 4.38% during the forecast period.

 

Based on the Delivery Model, the market is segmented into Onsite, and Offsite.

  • The onsite segment held the maximum market share of 57.5% in 2022. The segment is anticipated to witness considerable growth over the forecast period. Onsite initiatives provide a personal touch to employee well-being, along with the facilities to exercise under the guidance of fitness consultants and coaches to meet their personal health needs.
  • The offsite segment is projected to witness lucrative growth of 4.47% during the forecast period. Offsite programs include one-to-one interaction to improve employee health at different locations. Health services are constantly upgraded by the adoption of advanced technology.


Key Companies & Market Share Insights

The market is characterized by the increase in awareness regarding the benefits of corporate wellness and research and development leading to the launch of new products. For instance, in May 2019, Wellness Corporate Solutions launched an upgraded employee wellness portal to include client and participant feedback to make the screening, administering flu shots, and health coaching easier. Some prominent players in the U.S. corporate wellness market include:

  • ComPsych
  • Wellness Corporate Solutions
  • Virgin Pulse
  • EXOS
  • Marino Wellness
  • Privia Health
  • Vitality
  • Wellsource, Inc.
  • Sonic Boom Wellness

 

Order a free sample PDF of the U.S. Corporate Wellness Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

Contact:

Sherry James

Corporate Sales Specialist, USA

Grand View Research, Inc.

Phone: 1-415-349-0058

Toll Free: 1-888-202-9519

Email: sales@grandviewresearch.com

Web: https://www.grandviewresearch.com

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