The market has gone beyond just health, beauty and fitness. Newer, smaller brands are using wellness to get into consumers’ homes.
There’s plenty at stake for brands to win in wellness. In 2015, the global wellness market was estimated at $3.7 trillion, according to the Global Wellness Institute. The latest data will be released this year. Breaking it down, beauty and aging accounted for almost one-third of the market ($999 billion), ahead of healthy eating, nutrition and weight loss ($648 billion), wellness tourism ($563 billion) and fitness and mind-body ($542 billion).
Unlike the traditional definition of health, wellness isn’t just the absence of illness; it’s a way of living that considers an individual’s physical, emotional, intellectual, social, environmental and spiritual health.
There is wellness in healthcare, wellness as a lifestyle and the wellness of brands. If consumers are healthy and well they expect the brands to be well as well. There is a message in this for wellness brands that want to reach the top.