Australia And New Zealand Corporate Wellness Market To Reach $2.15 Billion By 2030

Australia And New Zealand Corporate Wellness Market Growth & Trends

The Australia and New Zealand corporate wellness market size is expected to reach USD 2.15 billion by 2030, registering a CAGR of 5.46% from 2023 to 2030, according to a new report by Grand View Research, Inc. The market is increasing due to the rising awareness of employee health and well-being. The factors such as increased health awareness, rising employee absenteeism, and capital spending by the private sector are contributing to the market growth. Additionally, chronic conditions such as diabetes, hypertension, cancer, and asthma, are responsible for the rise in loss of productivity and absenteeism. The prevalence of chronic diseases is high in New Zealand and Australia. According to the data published by the Australian Institute of Health and Welfare in February 2023, as per the survey from 2017-18, around 2.7 million (11%) of the total population faced the problem of asthma. From the age group 0-14 asthma was usually seen in boys. In the age group of 15-24 and 45 and over asthma was usually noticed among women.

In addition, the pandemic forced employees and firms to increase their use of new technologies. Employees suffered from stress-related health problems such as insufficient sleep, smoking, alcoholism, improper diet, and lack of physical activity. According to the data published by the Australian Institute of Health and Welfare in April 2023, as per the report in 2021, the alcohol consumption per person from the age group of 15 years and above is 9.5 liters. Alcohol consumption in Australia is more than the Organization for Economic Cooperation and Development (OECD) average of 8.4 liters.

The COVID-19 pandemic had a significant impact on Australia and New Zealand markets. Due to the pandemic and government restrictions, the offices were shut down which resulted in work-from-home transition and increased employee stress. There was a shift from traditional workplace programs to online wellness programs. The companies started offering online fitness classes, and stress management programs. The pandemic focused on the importance of mental health support in the workplace as employees faced stress, anxiety, and isolation.

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Australia And New Zealand Corporate Wellness Market Report Highlights

• Based on service, the HRA segment dominated the market with the share of 20.4% in 2022, as they are a crucial component involving the evaluation of health status, lifestyle choices, and risk factors of employees within an organization

• On the other hand, the stress management segment is expected to grow at the fastest CAGR of 6.3% during the forecast period, as corporate programs focus on raising awareness about stress and its impact on employees’ physical and mental health

• Based on category, the organization/employers segment accounted for the largest revenue share of 50.1% in 2022, as increasing work stress, long work hours, and health issues among Australians are expected to drive the need for employee well-being practices by employers. The fitness and nutrition consultants segment is expected to grow at the fastest rate during the forecast period, as there is a rise in the accessibility of fitness services, such as massage, nutrition consultation, and yoga among others

• Based on the delivery model, the onsite segment dominated the market in 2022. The offsite segment is expected to experience the fastest CAGR if 6.0% during the forecast period due to the increasing adoption of technology

• Based on the end-user, the large-scale organization’s segment accounted for the largest revenue share of 53.0% in 2022, as large companies often include incentives for participating, such as fitness tracking devices and reduced deductibles. The medium-scale organization’s segment is expected to expected at the fastest CAGR of 5.9% during the forecast period due to the quick adoption of employee health services

Australia And New Zealand Corporate Wellness Market Segmentation

Grand View Research has segmented the Australia and New Zealand corporate wellness market based on service, category, delivery model, and end use:

Australia And New Zealand Corporate Wellness Service Outlook (Revenue, USD Billion, 2018 - 2030)

• Health Risk Assessment

• Fitness

• Smoking Cessation

• Health Screening

• Nutrition & Weight Management

• Stress Management

• Others

Australia And New Zealand Corporate Wellness Category Outlook (Revenue, USD Billion, 2018 - 2030)

• Fitness & Nutrition Consultants

• Psychological Therapists

• Organizations/Employers

Australia And New Zealand Corporate Wellness Delivery Model Outlook (Revenue, USD Billion, 2018 - 2030)

• Onsite

• Offsite

Australia And New Zealand Corporate Wellness End-use Outlook (Revenue, USD Billion, 2018 - 2030)

• Small-scale Organizations

• Medium-scale Organizations

• Large-scale Organizations

List of Key Players in Australia And New Zealand Corporate Wellness Market

• Corporate Wellness Australia

• Holistic Services Group

• Workplace Wellness Australia

• Complete Corporate Wellness

• EvolvMe

• Corporate Work Health Australia

• Logic Health

• Health At Work

• Healthbox NZ