
Australia & New Zealand Corporate Wellness Market Size, Share & Trends Analysis Report By Service (HRA, Fitness), By Delivery Model (Onsite, Offsite), By End Use, By Category, And Segment Forecasts, 2022 - 2030
Description
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.
According to the University of Melbourne, 30% of men & 11% of women worked 48 hours a week. According to a report by Beyond Blue, one in five Australians has suffered from stress. Nearly 21% of Australians have taken time off from work due to stress, anxiety, and other mental health concerns. This is resulting in decreased productivity & increased attrition among employees. Thus, employers are concentrating on stress management of employees. Around 81% of organizations in Australia have one or more policies to support employee mental health. The high mental health concerns in the country and increased efforts by employers to reduce workplace stress are driving the market growth.
Furthermore, absenteeism is a direct contributor to monetary loss. Other factors, such as stress, have a negative impact on the productivity of employees. Between March and May 2020, the Auckland University of Technology (AUT) Business School team surveyed 1,000 employees in New Zealand. The study found that employees in large companies with over 51 employees were 153% more likely to suffer burnout, while those aged 29 years and under were 206% more likely to experience it. Moreover, these employees were more likely than others to experience despair, anxiety, psychosomatic (such as stomach aches), and psychological (such as sleep difficulties) symptoms. These health issues limit job efficiency.
The increased frequency of stress among workers is projected to fuel market growth as onsite/offsite wellness initiatives for employees help combat these issues. The COVID-19 pandemic has created economic crises and many employees face financial insecurity, which is impacting their mental health. Moreover, employees who work from home develop a sense of isolation. The pandemic altered the way wellness services are delivered. As a result, workplace wellness initiatives became a priority for employee safety during the pandemic. In addition, several organizations are introducing fitness programs to help employees maintain a sense of community while working from home. For instance, Workplace Options launched Revive in April 2021 as a customized service aimed at assisting employees who are at risk of or are experiencing burnout through live counseling and coaching sessions.
Australia & New Zealand Corporate Wellness Market Report Highlights
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.
According to the University of Melbourne, 30% of men & 11% of women worked 48 hours a week. According to a report by Beyond Blue, one in five Australians has suffered from stress. Nearly 21% of Australians have taken time off from work due to stress, anxiety, and other mental health concerns. This is resulting in decreased productivity & increased attrition among employees. Thus, employers are concentrating on stress management of employees. Around 81% of organizations in Australia have one or more policies to support employee mental health. The high mental health concerns in the country and increased efforts by employers to reduce workplace stress are driving the market growth.
Furthermore, absenteeism is a direct contributor to monetary loss. Other factors, such as stress, have a negative impact on the productivity of employees. Between March and May 2020, the Auckland University of Technology (AUT) Business School team surveyed 1,000 employees in New Zealand. The study found that employees in large companies with over 51 employees were 153% more likely to suffer burnout, while those aged 29 years and under were 206% more likely to experience it. Moreover, these employees were more likely than others to experience despair, anxiety, psychosomatic (such as stomach aches), and psychological (such as sleep difficulties) symptoms. These health issues limit job efficiency.
The increased frequency of stress among workers is projected to fuel market growth as onsite/offsite wellness initiatives for employees help combat these issues. The COVID-19 pandemic has created economic crises and many employees face financial insecurity, which is impacting their mental health. Moreover, employees who work from home develop a sense of isolation. The pandemic altered the way wellness services are delivered. As a result, workplace wellness initiatives became a priority for employee safety during the pandemic. In addition, several organizations are introducing fitness programs to help employees maintain a sense of community while working from home. For instance, Workplace Options launched Revive in April 2021 as a customized service aimed at assisting employees who are at risk of or are experiencing burnout through live counseling and coaching sessions.
Australia & New Zealand Corporate Wellness Market Report Highlights
- In terms of services, the Health Risk Assessment (HRA) segment dominated the market in 2021. Rising health concerns among employees and active government support are propelling the segment growth
- On the basis of end uses, the large-scale organizations segment dominated the market in 2021. A high number of employees and willingness to pay a premium price for employee welfare among large-scale enterprises are driving the segment growth
- Based on category, the organizations/employers segment accounted for a dominating market share in 2021. Employers are adopting wellness programs, cooperating with external wellness service providers, and conducting health exams, stress management campaigns, and fitness seminars
- The onsite delivery model segment dominated the market in 2021. Onsite services have a higher acceptance rate than remote services as they save employees’ time when utilizing the service
Table of Contents
120 Pages
- Chapter 1 Methodology and Scope
- 1.1 Market Segmentation & Scope
- 1.2 Estimates and Forecast Timeline
- 1.3 Research Methodology
- 1.4 Information procurement
- 1.4.1 Purchased Database
- 1.4.2 GVR’s Internal Database
- 1.4.3 Secondary Sources
- 1.4.4 Primary Research
- 1.5 Information or Data Analysis
- 1.5.1 Data Analysis Models
- 1.6 Market Formulation & Validation
- 1.7 Model Details
- 1.7.1 Commodity Flow Analysis (Model 1)
- 1.7.2 Volume Price Analysis (Model 2)
- 1.8 List of Secondary Sources
- 1.9 List of Abbreviations
- 1.10 Objectives
- 1.10.1 Objective - 1
- 1.10.2 Objective - 2
- Chapter 2 Executive Summary
- 2.1 Market Outlook
- 2.2 Segment Outlook
- 2.2.1 Service
- 2.2.2 End Use
- 2.2.3 Category
- 2.2.4 Delivery Model
- 2.3 Country Outlook
- 2.4 Competitive Insights
- Chapter 3 Market Variables, Trends & Scope
- 3.1 Market Segmentation
- 3.2 Penetration & Growth Prospect Mapping
- 3.2.1 Penetration Analysis
- 3.2.2 Market Driver Analysis
- 3.2.3 Market Restraint Analysis
- 3.3 Australia & New Zealand Corporate Wellness Market: Business Environment Analysis Tools
- 3.3.1 PORTER’S Five Forces Analysis
- 3.3.1.1 Bargaining Power of Suppliers: High
- 3.3.1.2 Bargaining Power of Buyers: Low
- 3.3.1.3 Threat of New Entrants: Moderate
- 3.3.1.4 Competitive Rivalry: High
- 3.3.1.5 Threat of Substitutes: Low
- 3.3.2 PESTEL Analysis
- 3.3.2.1 Political & Legal
- 3.3.2.2 Economic
- 3.3.2.3 Technological
- 3.4 COVID-19 Impact Analysis
- Chapter 4 Australia Corporate Wellness Market: Service Analysis
- 4.1 Australia Corporate Wellness Service Market Share Analysis, 2021 & 2030
- 4.2 Australia Corporate Wellness Service Market: Segment Dashboard:
- 4.3 Market Size & Forecasts and Trend Analyses, 2016 to 2030 for the Service Segment
- 4.3.1 Health Risk Assessment
- 4.3.1.1 Health risk assessment market, 2016 - 2030 (USD Million)
- 4.3.2 Fitness
- 4.3.2.1 Fitness market, 2016 - 2030 (USD Million)
- 4.3.3 Smoking Cessation
- 4.3.3.1 Smoking cessation market, 2016 - 2030 (USD Million)
- 4.3.4 Health Screening
- 4.3.4.1 Health screening market, 2016 - 2030 (USD Million)
- 4.3.5 Nutrition & Weight Management
- 4.3.5.1 Nutrition & weight management market, 2016 - 2030 (USD Million)
- 4.3.6 Stress Management
- 4.3.6.1 Stress management market, 2016 - 2030 (USD Million)
- 4.3.7 Others
- 4.3.7.1 Others market, 2016 - 2030 (USD Million)
- Chapter 5 Australia Corporate Wellness Market: End-use Analysis
- 5.1 Australia Corporate Wellness End Use Market Share Analysis, 2021 & 2030
- 5.2 Australia Corporate wellness End Use Market: Segment Dashboard:
- 5.3 Market Size & Forecasts and Trend Analyses, 2016 to 2030 for the End Use Segment
- 5.3.1 Small Scale Organizations
- 5.3.1.1 Small scale Organizations market, 2016 - 2030 (USD Million)
- 5.3.2 Medium Scale Organizations
- 5.3.2.1 Medium scale Organizations market, 2016 - 2030 (USD Million)
- 5.3.3 Large Scale Organizations
- 5.3.3.1 Large scale Organizations market, 2016 - 2030 (USD Million)
- Chapter 6 Australia Corporate Wellness Market: Category Analysis
- 6.1 Australia Corporate Wellness Category Market Share Analysis, 2021 & 2030
- 6.2 Australia Corporate Wellness Category Market: Segment Dashboard:
- 6.3 Market Size & Forecasts and Trend Analyses, 2016 to 2030 for the Category Segment
- 6.3.1 Fitness & Nutrition Consultants
- 6.3.1.1 Fitness & Nutrition Consultants market, 2016 - 2030 (USD Million)
- 6.3.2 Psychological Therapists
- 6.3.2.1 Psychological Therapists market, 2016 - 2030 (USD Million)
- 6.3.3 Organizations/Employers
- 6.3.3.1 Organizations/employers market, 2016 - 2030 (USD Million)
- Chapter 7 Australia Corporate Wellness Market: Delivery Model Analysis
- 7.1 Australia Corporate Wellness Delivery Model Market Share Analysis, 2021 & 2030
- 7.2 Australia Corporate Wellness Delivery Model Market: Segment Dashboard:
- 7.3 Market Size & Forecasts and Trend Analyses, 2016 to 2030 for the Delivery Model Segment
- 7.3.1 Onsite
- 7.3.1.1 Onsite market, 2016 - 2030 (USD Million)
- 7.3.2 Offsite
- 7.3.2.1 Offsite market, 2016 - 2030 (USD Million)
- Chapter 8 New Zealand Corporate Wellness Market: Service Analysis
- 8.1 New Zealand Corporate Wellness Service Market Share Analysis, 2021 & 2030
- 8.2 New Zealand Corporate Wellness Service Market: Segment Dashboard:
- 8.3 Market Size & Forecasts and Trend Analyses, 2016 to 2030 for the Service Segment
- 8.3.1 Health Risk Assessment
- 8.3.1.1 Health risk assessment market, 2016 - 2030 (USD Million)
- 8.3.2 Fitness
- 8.3.2.1 Fitness market, 2016 - 2030 (USD Million)
- 8.3.3 Smoking Cessation
- 8.3.3.1 Smoking cessation market, 2016 - 2030 (USD Million)
- 8.3.4 Health Screening
- 8.3.4.1 Health screening market, 2016 - 2030 (USD Million)
- 8.3.5 Nutrition & Weight Management
- 8.3.5.1 Nutrition & weight management market, 2016 - 2030 (USD Million)
- 8.3.6 Stress Management
- 8.3.6.1 Stress management market, 2016 - 2030 (USD Million)
- 8.3.7 Others
- 8.3.7.1 Others market, 2016 - 2030 (USD Million)
- Chapter 9 New Zealand Corporate Wellness Market: End Use Analysis
- 9.1 New Zealand Corporate Wellness End Use Market Share Analysis, 2021 & 2030
- 9.2 New Zealand Corporate wellness End Use Market: Segment Dashboard:
- 9.3 Market Size & Forecasts and Trend Analyses, 2016 to 2030 for the End Use Segment
- 9.3.1 Small Scale Organizations
- 9.3.1.1 Small scale Organizations market, 2016 - 2030 (USD Million)
- 9.3.2 Medium Scale Organizations
- 9.3.2.1 Medium scale Organizations market, 2016 - 2030 (USD Million)
- 9.3.3 Large Scale Organizations
- 9.3.3.1 Large scale Organizations market, 2016 - 2030 (USD Million)
- Chapter 10 New Zealand Corporate Wellness Market: Category Analysis
- 10.1 New Zealand Corporate Wellness Category Market Share Analysis, 2021 & 2030
- 10.2 New Zealand Corporate Wellness Category Market: Segment Dashboard:
- 10.3 Market Size & Forecasts and Trend Analyses, 2016 to 2030 for the Category Segment
- 10.3.1 Fitness & Nutrition Consultants
- 10.3.1.1 Fitness & Nutrition Consultants Market, 2016 - 2030 (USD Million)
- 10.3.2 Psychological Therapists
- 10.3.2.1 Psychological Therapists Market, 2016 - 2030 (USD Million)
- 10.3.3 Organizations/Employers
- 10.3.3.1 Organizations/employers market, 2016 - 2030 (USD Million)
- Chapter 11 New Zealand Corporate Wellness Market: Delivery Model Analysis
- 11.1 New Zealand Corporate Wellness Delivery Model Market Share Analysis, 2021 & 2030
- 11.2 New Zealand Corporate Wellness Delivery Model Market: Segment Dashboard:
- 11.3 Market Size & Forecasts and Trend Analyses, 2016 to 2030 for the Delivery Model Segment
- 11.3.1 Onsite
- 11.3.1.1 Onsite Market, 2016 - 2030 (USD Million)
- 11.3.2 Offsite
- 11.3.2.1 Offsite market, 2016 - 2030 (USD Million)
- Chapter 12 Australia & New Zealand Corporate Wellness Market: Competitive Analysis
- 12.1 Recent development & impact analysis by key market participants
- 12.2 Company/Competition Categorization
- 12.3 Company Market Position Analysis
- 12.4 Company Profiles
- 12.4.1 Corporate Wellness Australia
- 12.4.1.1 Company Overview
- 12.4.1.2 Service Benchmarking
- 12.4.2 Holistic Services Group
- 12.4.2.1 Company Overview
- 12.4.2.2 Service Benchmarking
- 12.4.3 Workplace Wellness Australia
- 12.4.3.1 Company Overview
- 12.4.3.2 Service benchmarking
- 12.4.4 COMPLETE CORPORATE WELLNESS
- 12.4.4.1 Company Overview
- 12.4.4.2 Service benchmarking
- 12.4.5 EVOLVME
- 12.4.5.1 Company Overview
- 12.4.5.2 Service benchmarking
- 12.4.6 CORPORATE WORK HEALTH AUSTRALIA
- 12.4.6.1 Company Overview
- 12.4.6.2 Service benchmarking
- 12.4.7 LOGIC HEALTH
- 12.4.7.1 Company Overview
- 12.4.7.2 Service benchmarking
- 12.4.8 HEALTH AT WORK
- 12.4.8.1 Company Overview
- 12.4.8.2 Service benchmarking
- 12.4.9 HEALTHBOX NZ
- 12.4.9.1 Company Overview
- 12.4.9.2 Service benchmarking
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