Australia & New Zealand Corporate Wellness Market Share, Regional Outlook, Survey Report 2030

Australia & New Zealand Corporate Wellness Market Growth & Trends

The Australia & New Zealand corporate wellness market size is expected to reach USD 2.2 billion in 2030, expanding at a CAGR of 5.36% during the forecast period, based on a new report by Grand View Research, Inc. Increased awareness about the available employee wellness services, a significant proportion of absenteeism, and the rising prevalence of stress & chronic diseases are the key factors driving the market growth. Work-related stress in employees is increasing. The COVID-19 pandemic has changed the dynamics of work. The work-from-home structure during the pandemic has resulted in longer working hours & more stress. In Australia, average working hours are higher.

Australia & New Zealand Corporate Wellness Market Segmentation

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

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

• The HRA segment held the largest market share of over in 2021 owing to the high adoption of HRA services by employers while offering employee health services. Employers are increasingly investing in HRA. On the other hand, the stress management segment is expected to witness the fastest CAGR during the forecast period. The stress management segment is expected to have high growth amid increased workplace stress and the availability of high-quality stress management programs. According to a Headsup survey on the State of Employee Health, one in five Australians has experienced job stress and is looking forward to taking time off to cope.
• Approximately 9 out of 10 people believe in the value of a health-conscious workplace. This is likely to propel the segment growth. Moreover, the growing smoking population and growing knowledge of its adverse consequences are important factors boosting the smoking cessation segment growth. Men and women smoke an average of 13.1 and 12.9 cigarettes per day, respectively, according to the AIHW. Adults aged 40 to 60 years smoked at a rate of 15.8% daily. The providers offer smoking cessation seminars including 6-week quit smoking programs, which involve daily 1-hour sessions and are conducted according to the availability of employees.

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

• The large-scale organizations segment dominated the market in 2021 accounting for the maximum revenue share. According to the Australian Government, companies with revenue of more than USD 250 million & over 200 workers are large-scale organizations. Larger corporations typically join with independent wellness companies to assist with program administration; these partner companies are a good method to keep staff fit and healthy. In addition, programs at large companies often include incentives for participating, such as fitness tracking devices and reduced deductibles. These companies typically have large budgets allocated for workplace wellbeing programs.
• The medium-scale organization segment is expected to register the fastest growth during the forecast period due to the quick adoption of employee health services. These organizations are generally at a growing stage, which leads to the faster adoption of employee wellbeing programs. The medium-scale organizations typically have employee-led health campaigns, stress management programs, detailed health screening, and others. Thus, workplace wellness services have a major scope in medium-scale companies in Australia & New Zealand.

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

• The organizations/employers segment held the largest market revenue share in 2021. Corporate wellness is becoming a major avenue of interest for organizations in Australia. Increasing work stress, long work hours, and health issues among Australians are expected to drive the need for employee wellbeing practices by employers. Employers are conducting wellness programs, consulting external service providers, and conducting health screening, stress management, & fitness campaigns & workshops. The rise in personalized health programs along with the expansion of digital wellness and well-being tools is expected to drive the segment.
• The fitness and nutrition consultants segment is estimated to witness remarkable growth during the forecast years owing to the rise in the accessibility of fitness services, such as massage, nutrition consultation, and yoga among others. Nutrition Australia is one of the key providers of fitness and nutrition services for employees. It offers seminars, cooking demonstrations, one-on-one health consultations, customized programs for organizations, and access to NSW Health’s Get Healthy initiative. The majority of large-scale and a few medium-sized businesses contemplate hiring dietitians to provide one-on-one coaching. In addition, some workplaces offer a variety of activities and gym services. This is propelling the growth of the segment.

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

• In terms of delivery model, the onsite segment dominated the market in 2021. According to the Human Resources Director, around 64% of organizations in Australia are adopting wellness programs for employees and 92% of employees believe in the importance of wellness programs. Longer working hours with higher levels of stress are propelling the need for employee wellbeing programs in the country. Also, workplace wellness plays an important role in giving job satisfaction and value to employees. The key providers in the market, such as Corporate Wellness Australia, Workplace Wellness, and others, provide detailed health assessments, seminars, group exercise sessions, response training, critical incident response support, and others.
• The offsite segment is expected to register the fastest CAGR during the forecast period. The COVID-19 pandemic and technological advancements are expected to drive the segment growth over the forecast period. The increasing adoption of technology since the pandemic has resulted in companies preferring offsite programs, primarily ones being conducted online. Online webinars are the most commonly adopted activity by wellness providers. HealthyME Digital offers an online platform to support employees with stress management, mental health, and personal development programs through tips by experts via live webinars, video guides, presentations, and audio exercises. & 24/7 online support.

Australia & New Zealand Corporate Wellness Regional Outlook

• Australia
• New Zealand

Key Companies Profile & Market Share Insights

The market is highly fragmented with the presence of a few major players and a large number of small- & medium-sized providers. Health At Work, Corporate Work Health Australia, and Holistic Services Group are some of the leading players in the market.

Some of the prominent players operating in the Australia & New Zealand corporate wellness market include,

• Corporate Wellness Australia
• Holistic Services Group
• Workplace Wellness Australia
• Complete Corporate Wellness
• EvolvME
• Corporate Work Health Australia
• Logic Health
• Health At Work
• Healthbox NZ

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