The global wellness economy will reach $8.5 trillion in 2027, according to the Global Wellness Institute’s 2024 Trends report. Sarayut Thaneerat—Getty Images
All over the world, more and more people are eager to spend money in the name of well-being, especially for wellness tourism, wearable technologyAnd Healthy eating.
According to the Global Wellness Summit 2024 Trends Report According to the Global Wellness Institute, which combines research and insights from experts in the field including scientists, CEOs and academics, the wellness market is booming. And it’s not likely to slow down anytime soon.
The global wellness economy was valued at $5.6 trillion in 2022, an increase of 12% since 2020. According to the report, about one in 20 dollars is spent on wellness, and the global economy well-being is expected to reach $8.5 trillion by 2027.
The United States tops the global list of wellness spenders, with an annual market of $1.8 trillion, up 14% since 2020. On average, Americans spend $5,321 per year for well-being, ranking fifth behind Seychelles, Switzerland, Iceland and Aruba.
On a broader level, global wellness spending includes personal care and beauty, physical activity, healthy eating, nutrition and weight loss, public health and prevention, and wellness tourism. New categories such as mental wellness, wellness real estate, and workplace wellness are gaining momentum, valued at $181 billion, $398 billion, and $51 billion, respectively.
Gentle care or hard care
The report highlights the expansion of both soft and hard care. ‘Softcare’ Includes Cheaper, Simpler Wellness Trends Spurred by the Hot Girl to walk, rotten bedand the global dismissal of restless culture in favor of better social well-being thanks to community and connection. “Hardcare” includes rapid growth wearable technologyhyperoptimization thanks to countless measurements of biomarkers, preventive medicine treatmentAnd medications for weight loss.
“The speed at which medicine is invading the wellness market is nothing short of astounding,” the report states. “Generation, income and gender gaps are widening in culture, and they are creating a space of well-being increasingly defined by radically different, even contradictory, markets and mindsets. »
Well-being trends 2024
Trends predicted for 2024 include climate-adapted wellness, such as designing for a colder planet and taking “coolcations.” The growing interest in longevity will continue, both among those who are willing to try expensive experimental treatments aimed at living longer and among those who recognize that they may play a role in aging through simple things like diet, exercise, sleepAnd stress reduction.
Another trend is the increase in retreats and programs aimed at men, reversing the stigma and pressure on men to hide their emotions, in what researchers have called “From Ownership to Openness “.
More – and potentially cheaper – weight-loss drugs will come to market, and attention is finally being focused on the importance of these drugs. postpartum well-being. People go to museums to strengthen their minds and feel happier in a trend toward sensory and artistic wellness experiences, and others book retreats focused on extended pilgrimages.
Fueled by a post-pandemic increase in mental health issues, the desire to play a role in health outcomes and aging, and greater societal attention to well-being as a component of health and happiness, These trends highlight how well-being is changing markets.
The full list of Wellbeing Trends Report for 2024:
- Well-being adapted to the climate
- The power of pilgrimage
- From staff creation to opening
- The rise of postpartum wellness
- Longevity has longevity
- A wellness check for weight loss medications
- Sport finds its place in the hotel industry
- The home as a high-tech health center
- A new multisensory and immersive art for well-being
- Under the radar: future trends including blue zones 2.0 and wellness real estate
Researchers also highlight the chasm between accessible “soft” wellness and wellness for the wealthy, as more and more memberships and clinics offer wellness at a high cost. The wellness sectors expected to grow the fastest by 2027 include wellness tourism, mental wellness, and wellness real estate.
