The global financial wellness benefits market revenue was around US$ 2.2 billion in 2023 and is estimated to reach US$ 7 billion by 2032, growing at a compound annual growth rate (CAGR) of 13.8% during the forecast from 2024 to 2032.

Financial wellness benefits are an area where businesses shop for tools that can make better financial lives of their employees. In this market, companies discover all kinds of resources to help the financial well-being of their workers. These resources might include retirement planning assistance, financial education programs, or access to financial advisors.

Factors Influencing Market Growth

- The financial wellness benefits market has witnessed significant growth due to the growing awareness about the significance of financial well-being.

- The higher retention rates and enhanced productivity propels the growth of the global financial wellness benefits market.

- The absence of employee engagement poses a substantial barrier to the growth of the financial wellness benefits market.

- Utilizing technology in the financial wellness benefits market will deliver ample opportunities for the growth of the market in the future.

Impact of COVID-19

The impact of the COVID-19 pandemic had a moderate influence on the global financial wellness benefits market. The economic tension and financial hardships driven by the COVID-19 pandemic led to the elevated demand for financial wellness programs. Many employees encountered decreased income, job losses, and augmented financial stress, making financial wellness benefits more significant than ever.

Regional Analysis

In 2022, North America dominated the global financial wellness benefits market in terms of revenue. This can be attributed to the surge in the requirement for financial wellness benefits has been steadily growing in this region. Employees are more conscious of the significance of financial well-being, and they hope their employers to deliver resources and aid to enable them to handle their finances effectively.

Also, the Asia-Pacific region is anticipated to be the fastest-growing region in the global financial wellness benefits market. This growth can be attributed to the Asia-Pacific region is seeing a digital shift in financial services. Fintech companies are playing an important role in providing financial wellness benefits. Online platforms and mobile apps are increasingly being utilized to deliver budgeting tools, financial education, and access to investment alternatives.

Leading Companies

The leading prominent companies profiled in the global financial wellness benefits market are:

- Aon plc
- Bank of America Corporation
- FMR LLC
- Mercer LLC.
- MetLife Insurance Limited
- Morgan Stanley
- Prudential Financial, Inc.
- Social Finance, Inc.
- The Charles Schwab Corporation
- Virgin Pulse.
- Other prominent key players

Segmentation Outline

The global financial wellness benefits market segmentation focuses on Program, Platform, End User, and Region.

Segmentation based on Program

- Financial Planning
- Financial Education and Counselling
- Retirement Planning
- Debt Management
- Others

Segmentation based on Platform

- One-on-One
- Online
- Group

Segmentation based on End User

- Large Businesses
- Small and Medium-sized Businesses

Segmentation based on Region

- North America
- The U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Netherlands
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Singapore
- Rest Of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa