With the wellness industry reported to now be worth $4.2 trillion, it’s clear that consumers the world over are taking greater measures to prioritize their health and wellbeing in a multitude of different ways. This could be through any activity, service or product that actively promotes physical and mental wellbeing – so, there’s huge potential for businesses within the health and wellness sector to be involved in the current industry upturn.
From personalized nutrition and skincare to meditation and wellness travel, this piece will take a closer look at some of the wellness trends that are currently influencing the landscape within this growing sector.
The food revolution
In today’s society, consumers have become far more aware of the impact their diet and food choices have not only on their health, but also on the planet. The current ‘eat clean’ movement is dramatically transforming the industry with more consumers seeking out healthy and organic products over processed alternatives.
From celebrity endorsed veganism to the rise in people suffering from gluten intolerances like celiac disease, the motivations may differ in terms of why and how people are changing the way they consume food – but, the fact remains that there is now more demand than ever for gluten-free, dairy-free and sugar-free products.
For those within the wellness industry, this undoubtedly poses a viable opportunity to meet the growing demand with more healthy alternatives for consumers. This includes personalized nutrition, which is on the rise as it helps buyers navigate the often overwhelming choice of diets and health food products – finding just the right solution to meet their individual needs.
Wearable tech rules
From fitbits and Google watches to health tracking smartphone apps, this is one area of the health and wellness industry that is growing considerably.
With reports suggesting that 34% of people currently use health tracking apps and 27% use wearable technology in a bid to monitor their fitness levels, calorie intake and more, technology can now be effectively harnessed to manage health.
With this in mind, the health and wellness industry should look to incorporate technology where possible into their offerings if they want to keep up with consumer trends.
Wellness tourism is on the rise
Travel has been cited as a great way to promote health and wellbeing, from stress-busting benefits to improved physical health, therefore it’s no surprise that there has been a marked increase in the wellness tourism sector.
Firstly, wellness tourism has the power to alleviate some of the world’s issues with tourism, as many countries are looking to offer bespoke holiday destinations away from the typically over crowded resorts. Secondly, it also provides the chance for busy consumers to relax and unwind, and create a personalized travel experience that positively impacts their health – making it money well spent.
Many of these wellness retreats are situated in remote rural locations to optimize the feeling of detachment from real-life and a closeness to one of the planet’s most powerful health antidotes: nature. However, there is also a growing market for urban wellness tourism in populated areas of the world to cater for the larger market, too.
The natural beauty factor
As with the food revolution, many consumers are now becoming more conscious about which skincare and cosmetic products they use, too – with many seeking out organic alternatives that they feel are better for them and less harmful to the environment.
With figures from 2018 showing that the average person would spend $100 on skincare and natural supplements a month in the US, this looks set to be a market that is only going to continue to grow.
These statistics also highlight interesting generational buying trends, showing that Millenials are spending more on skincare products, while Generation X and Baby Boomers invest more in natural supplements. Most of the younger generational buying occurs on Amazon and similar online platforms, but this definitely doesn’t mean there isn’t still a place for more traditional avenues such as specialty stores and personalized shopping experiences.
The power of meditation
You can’t talk about wellness trends without discussing meditation. According to the Global Wellness Summit, meditation is now one of the fastest growing wellness trends in America with meditation studios, apps and brands appearing everywhere.
Cited as one of the three-pillars of wellbeing, meditation tackles stress and promotes mindfulness that’s the ideal solution for society’s hectic and pressured lifestyles. However, its popularity is also linked in with its improved accessibility through the advent of smartphone apps – ensuring that wherever consumers are and whatever they’re doing, they can easily and instantly practise meditation.
In terms of the latest trends, moving forward, meditation will go from being a singular concept to three separate classifications: focused attention, open monitoring and self-transcending which focus on the varying effects meditation has on the brain.
There’s no doubt that change is the only constant in any market, but certainly in the health and wellness industry it seems there are some trends that are becoming the front-runners in a continually expanding industry. Whichever facet you operate in, we hope these insights offer a helpful look to the future of this evolving industry and the exciting possibilities that lie ahead.
Alex Jones is a content writer for Jaquar, who specialise in complete luxury bathroom solutions – delivering everyday luxury to a global market.