According to the report, the global — wellness real estate market was valued at approximately USD 115,152 million in 2018 and is expected to reach a value of around USD 242,461 million by 2027, at a CAGR of around 8.8 % between 2019 and 2027.
Wellness real estate is a promising industry that has the ability to fulfill the immense health challenges of today’s world. The main objective of the wellness real estate activities is to give wellness of the people a key priority and design, create, and redevelop households and neighborhoods. The movement has not started from scratch but it has derived the wellness concept from many historical as well as recent movements while combining the outstanding features through a multidimensional wellness lens. Many elements of the green construction, design-driven, and food movements are already being accepted. Apart from this, new kind of urbanism, intentional communities and others are already being blended in innovative ways into upcoming wellness emphasizing residential ventures and communities.
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Growing trend of green constructions to drive the market expansion
Massive concerns over GHG gas emissions through buildings are likely to propel the demand for green constructions over the forecast timeline. Apart from this, the need to minimize operating costs and benefit the environment is likely to encourage the builders to construct green buildings. All these factors are predicted to contribute sizably towards the wellness real estate industry surge over the forecast timeline.
Moreover, the growing popularity of green buildings is credited to its ability to offer high air quality and good biodiversity. In addition to this, the increase in the green organizations across the globe and launching of many projects that transform current structures into greener ones will steer the expansion of the wellness real estate industry over the forecast timeline.
Furthermore, the rise in the number of wellness lifestyle real estate ventures in Europe, North America, Latin America, and the Asia Pacific regions will further promote the market growth trends. Nonetheless, the high competition witnessed among the players due to awareness about healthy living & wellness lifestyle will hinder the expansion of the market over the forecast timespan.
Top Companies in Wellness Real Estate Market:
Key players involved in the wellness real estate industry include Nokia Networks, Xilinx Inc., Cisco Systems, Inc., Intel Corporation, Ericsson, Ciena Corporation, ZTE Corporation, Fujitsu Ltd., Qualcomm Technologies, Inc., Huawei Technologies Co., Ltd., Samsung, Vodafone, Intel Corporation, AT&T Inc., Sprint Corporation, VMware, Inc., Juniper Networks, Inc., and Verizon Communications.
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Residential segment to dominate the overall market growth over the forecast timeline
The residential segment is projected to garner revenue of nearly USD 181,800 million by 2027. The growth of the segment is attributed to the launching of open-air yoga workshops and nurturing or cultivating & nourishing gardens with medicinal herbs & plants in residential ventures. Moreover, providing space for meditation in courtyards has become a new trend in real estate residential construction and this has paved a way for the growth of the segment.
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North America to dominate the overall market growth in terms of revenue
The growth of the regional market is attributed to the rise in the number of wellness projects along with the growing desire for wellness programs in the region. For the record, North America has 372 wellness lifestyle real estate ventures and this is the highest number followed by 293 projects in the Asia Pacific.
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This report segments the wellness real estate market as follows:
Global Wellness Real Estate Market: By Vertical Segment Analysis
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Release ID: 88982023