06 Feb Health & Wellness Trend Is Big Business
Featured by Tampa, Florida Based Marketing and Public Relations Agency, Kilroy Agency
It’s not cool to be a glutton unless bacon is involved any more. It’s not healthy either. Health and wellness is in and it’s not going anywhere. The Global Wellness Institute, a nonprofit research and education resource for the wellness industry, shared that the global wellness market grew 12.8 percent to $4.2 trillion market from 2015-2017 (latest figures available). This wellness economy grew 6.4% annually, nearly twice as fast as global economic growth (3.6%).
Wellness expenditures ($4.2 trillion) are now more than half as large as total global health expenditures ($7.3 trillion). And the wellness industry represents 5.3% of global economic output.
America ranks number one for spending in four of the five market segments GWI tracks: spas, workplace wellness, wellness tourism and wellness real estate. The USA is among the top 15 when it comes to thermal and mineral springs.
Other interesting categories pointing to the continued Health / Wellness business boom include: Healthy Eating, Nutrition and Weight Loss which represents a $702 billion in 2017. Fitness & Mind-Body saw $595 billion while Workplace Wellness saw a $47.5 billion value.
While our client base is heavy in the food world… since “wellness” is as much about what’s put into the body as what the body and mind put out … we’re seeing wellness in all areas of daily life that touch mind / body / spirit from household brands that are linked to smart technology that creates a more mindful home to natural foods with no added sugar and peak of season produce.
The food / beverage category alone brings abundant areas including produce, agriculture, natural foods and organics. The health / wellness and traditional food world continue to be more closely aligned.
As we gear up for the Natural Products Expo West show in Anaheim… health / wellness booms and the need is great. Looking forward to the new and emerging brands and upcoming food trends that bubble up to wellness … the quality or state of being healthy in body and mind, especially as the result of deliberate effort.