Brazil Corporate Wellness Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Type (Weight Management & Fitness, Smoking Cessation, Stress Management), By Enterprise Size (Small, Medium, Large) - Forecasts From 2023 To 2028

Corporate wellness refers to the collection of different policies, activities, and programs developed by an organization. Weight management & fitness, smoking cessation, and stress management are some of the most famous corporate wellness programs used in Brazil. The adoption of corporate wellness services and solutions by enterprises of varying sizes enables them to assist their employees in nurturing their overall health and well-being. In addition, the formulation of effective stress management policies and initiatives by corporate companies aids in boosting the efficiency of employees and enhancing work division procedures. The achievement of a healthy workplace promoted by the implementation of corporate wellness in Brazilian companies has gained momentum over the last few years which has resulted in the expansion of corporate wellness programs offered by certain leading companies in the Brazilian corporate wellness market. Hence, the Brazilian corporate wellness market is expected to rise prominently over the forecast period.

Market Drivers

• Rise in mental health  awareness

The last decade witnessed a rise in mental health awareness and mental health care services all over the world including Brazil. The increasing levels of stress and workload in the Brazilian corporate sector fueled by the expansion of Brazilian corporations and companies necessitate the mandatory adoption of corporate wellness programs to balance the psychological well-being of their employees. The increase in suicide rates across different regions in Brazil indicates the overall increase in mental stress among the Brazilian population. The Pan American Health Organization announced in its Pan American Journal of Public Health that approximately 115,469 people committed suicide in Brazil between 2011 and 2020 which increased the suicide ratio to 6.68 people among every 100,000 people in 2020. In addition, the World Health Organization established that the mental health professionals’ workforce ratio in Brazil increased from 59.95 in 2017 to 164.29 in 2020 per 100,000 population. The increase in mental health awareness has penetrated the corporate sector resulting in the development of different mental health care services and policies by Brazilian companies. Therefore, the rise in mental health awareness is a significant factor expected to drive the demand for the Brazilian corporate wellness market.

• Increase in secondary life among employees in the corporate sector

The general adoption of sedentary lifestyles by an increasing number of employees in the Brazilian corporate workforce is fueled by an increase in operations of the corporate sector and excessive overtime in creating major health issues such as obesity and diabetes among employees. The University of Washington’s Institute for Health Metrics and Evaluation revealed that approximately 29% of the total Brazilian population was obese in 2020. The 2020 Brazilian obesity rate increased by more than 15% in the last two decades indicating the need for weight management and physical fitness programs for the corporate sector. The Global Obesity Observatory revealed that insufficient activity due to a sedentary lifestyle is one of the major drivers of obesity in Brazil. Further, the Brazilian Institute of Geography and Statistics stated that the population of employees in Brazil reached 99.37 million in 2022. Therefore, the enlargement of the employee workforce along with the rising obesity levels in Brazil is propelling the market for Brazilian corporate wellness market.

The lack of corporate wellness programs and companies could slow down the growth of the market.

The corporate wellness market of Brazil has recently begun to emerge and hence is in its initial stage of development. There is a significant disparity in the demand and supply of corporate wellness initiatives in Brazil. The universal growth in the corporate sector and the increase in the Brazilian workforce are generating in a higher demand for corporate wellness services all over Brazil. The growing importance of corporate wellness has majorly resulted in the development of internal corporate wellness programs by prominent corporations across different industries which lowers the market for outsourcing external wellness programs to different corporate wellness companies. In addition, the existing number of companies dedicated to developing corporate wellness programs in Brazil is primitive which further restricts the expansion of the Brazilian corporate wellness market.

Key Developments

• In February 2023, MantraCare Company announced its partnership with Vantage Fit to enhance the corporate wellness programs offered by it across different countries including Brazil.
• In June 2021, a corporate and physical wellness startup company in Brazil, Gympass acquired approximately US$220 million in its Serie E investment round after it announced that the company has witnessed a monthly log-in rate of 4 million across its clients.

Brazil Corporate Wellness Market Scope:

Key Market Segments:

• By Type
  • Weight Management & Fitness
  • Smoking Cessation
  • Stress Management
  • Others
• By Enterprise Size
  • Small
  • Medium
  • Large