Australia and New Zealand Corporate Wellness Market: The Role of Leadership in Championing Wellness

Australia and New Zealand Corporate Wellness Industry Overview

In 2022, Australia and New Zealand Corporate Wellness Market was valued at $1.4 billion and is projected to experience substantial growth, with a compound annual growth rate (CAGR) of 5.5% from 2023 to 2030. This expansion is significantly driven by a growing understanding of the importance of employee health and well-being. Contributing factors include increased capital investment by the private sector, a greater emphasis on health awareness, and the concerning trend of rising employee absenteeism. As more companies focus on improving their employee well-being programs, digital well-being platforms are expected to become increasingly crucial.

The COVID-19 pandemic further accelerated the adoption of new technologies by both organizations and their workforces. Worryingly, many employees face health challenges linked to stress, such as poor nutrition, inadequate sleep, alcohol abuse, smoking, and a lack of physical activity. A 2023 report on absence management and well-being indicated a significant rise in overall employee absenteeism since 2019, with an average increase of 2.5 days (totaling 23%). In 2022, the average number of sick days taken was 14. Compared to the pre-pandemic data from 2019, there has been a rise of 2.6 days in the average number of absence days lost per employee each year.

Detailed Segmentation:

• Service Insights

The stress management segment is expected to expand at the fastest rate of 6.3% during the forecast period due to increased workplace stress and the availability of high-quality stress management programs. The different corporate programs focus on raising awareness about stress and its impact on employee’s physical and mental health. The corporate wellness programs provide different stress reduction techniques such as mindfulness, meditation, relaxing exercise, yoga classes, and breathing techniques which promote relaxation, reduction in anxiety, and improve overall well-being. According to a Heads-up survey on the State of Employee Health, 1 in 5 Australian employees have taken time off work due to feeling mentally sick over the last 12 months.

• Category Insights

The fitness and nutrition consultants segment is estimated to register the fastest CAGR of 6.0% over the forecast period 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. Nutrition Australia contributes to reducing the social, economic, and health impacts of nutrition-related diseases by implementing and designing Nutrition education programs, publications, presentations, awareness, and resource campaigns. 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.

• End-use Insights

The medium-scale organization’s segment is expected to expand at the fastest CAGR of 5.9% over 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 well-being 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 and New Zealand.

• Delivery Model Insights

The offline segment is expected to expand at the fastest CAGR of 6.0% over 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.

Gather more insights about the market drivers, restraints, and growth of the Australia and New Zealand Corporate Wellness Market

Key Companies & Market Share Insights

The market is highly fragmented with the presence of a few major players and a large number of small- and medium-sized providers. Health at Work, Corporate Work Health Australia, and Holistic Services Group are some of the leading players in the market. Corporate Work Health Australia provided office workstations, manual handling, and workplace wellness services to over 2,000 enterprises. The organization conducted ergonomic risk evaluations on over 10,000 workstations in the office and with remote employees. Some prominent players in the Australian and 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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