Mexico Corporate Wellness Market Forecasts from 2023 to 2028

The Mexico corporate wellness market is projected to grow at a CAGR of 5.06% over the forecast period, increasing from US$301.200 million in 2021 to reach a total market size of US$425.586 million by 2028.

As per the studies conducted by the Mexican government Mexico ranks among one of the top countries where people are facing workplace stress and are looking for a way out of this stress. A survey conducted by the Mexican Society of Stress pointed out that 60% of the employees working are facing some kind of stress and it suggested that 23% of the people confirmed that this happens daily.

Additionally, in a study conducted by the World Health Organization (WHO), the prevalence of stress among employees in Mexico is 75% placing the country above China and the US. The working hours in the country are also very extensive, according to OECD the Mexican country works more hours in the world, with more than 2, 124 hours a year.

Investments in the Field

Major investments are made in the companies that are in the corporate wellness industry in Mexico which is propelling the corporate wellness market expansion. For instance, Minu, a Mexican FinTech startup that offers employee wellness services raised US$ 30 million in funding in February 2023. With the increased investment the company plans to bolster its distribution and has plans for further development of its platform that will include more modules for chief financial officers and human resources.

Increased Workforce in the Country

Mexico is considered one of the most stressed countries in terms of the working environment. The country has on average only 14 days of vacation per year including official days marked by the calendar. In 2021, as per the Mexican Job Exchange OCC World, chronic stress in the workplace affects 63% of the people in Mexico. Additionally, the depression level due to this stress has spiked to 27.5% in the working population which is one of the highest in the world in 2021 as per the OECD data. The increase in the labor force is demanding a solution to this stress, and companies are also taking these issues seriously to increase labor productivity and reduce stress.

Government Efforts and Initiatives

As per the World Bank data, 58.70 million people in Mexico are involved in the labor force and the number is increasing year-on-year. With the rise in the labor force, the government of Mexico has also implemented some rules for the corporate offices to deal with stress management at the workplace. The government is making mental health programs mandatory at all workplaces and has mandated that companies should identify and analyze occupational physiological risk factors while promoting a more favorable work environment for people in the country. Such factors that promote employee well-being in Mexico are anticipated to increase the market for corporate wellness.

Focus on Weight Management and Fitness

Weight management and fitness focus on promoting healthy lifestyles and physical well-being among employees in the workplace. Corporate wellness programs in Mexico often include initiatives and services aimed at helping employees manage their weight and improve their overall fitness levels. In recent years, there has been a growing recognition among employers in Mexico about the importance of employee well-being and its impact on productivity and healthcare costs. As a result, many companies have started implementing corporate wellness programs to support their employees' health and fitness goals.

The fitness aspect of corporate wellness programs in Mexico focuses on encouraging employees to engage in regular physical activity. Companies often provide various options to promote exercises, such as on-site gyms, fitness classes, or partnerships with local fitness centers. These programs may also include fitness challenges, group activities, or sports events to encourage participation and foster a sense of camaraderie among employees.

Increasing Obesity in the Nation

With the rise of office-based jobs and technological advancements, many individuals in Mexico have become more sedentary in their daily lives. Sedentary lifestyles can lead to weight gain, reduced fitness levels, and associated health issues. According to the report on obesity in Mexico published by the National Library of Medicine, it is projected that by 2050, the proportion of obese men and women will rise which is shown in the above figure. As a result, to avoid this circumstance, companies are recognizing the need to promote physical activity and weight management among their employees, leading to the growth of the weight management and fitness segment.

Technological Advancements

Advancements in technology have significantly impacted the weight management and fitness segment. Mobile apps, wearable devices, and online platforms have made it easier for individuals to track their fitness progress, access personalized workout plans, and receive nutritional guidance. The integration of technology into corporate wellness programs enhances engagement and convenience, thereby driving the growth of the weight management and fitness segment. Furthermore. According to the Global Health & Fitness Association, 12, 376 Mexican fitness facilities are generating an estimated US$ 1.8 billion in annual revenue from at least 4.1 million members.

Segmentation:

By Type

• Weight Management & Fitness
• Smoking Cessation
• Stress Management
• Others

By Enterprise Size

• Small
• Medium
• Large

By Province

• Mexico City
• Mexico State
• Nuevo León
• Jalisco
• Others