The Wellness Industry is huge. The Global Wellness Institute reported it to be worth $4.2 trillion in 2017. Here are the top 10 sectors driving it:
- Personal Care, Beauty and Anti-Aging ($1,083 billion)
- Healthy Eating, Nutrition and Weight Loss ($702 billion) –
- Wellness Tourism ($639 billion)
- Fitness and Mind-Body ($595 billion)
- Preventative and Personalized Medicine and Public Health ($575 billion)
- Traditional and Complementary Medicine ($360 billion)
- Wellness Lifestyle Real Estate ($134 billion)
- Spa Economy ($119 billion)
- Thermal/Mineral Springs ($56 billion)
- Workplace Wellness ($48 billion)
What’s Included in Each Sector
Here’s what’s included in the totals for each sector.
- Personal Care, Beauty and Anti-Aging ($1,083 billion) – includes beauty & salon services; skin, hair & nail services & products; cosmetics & other personal care products; dermatology, products & services addressing age-related health & appearance issues.
- Healthy Eating, Nutrition and Weight Loss ($702 billion) – includes vitamins, supplements, fortified foods and nutraceuticals, natural & organics foods, health foods, sports nutrition, nutrition & dietary services, and weight loss products & services.
- Wellness Tourism ($639 billion) – includes all expenditures made by wellness tourists such as lodging, dining, activities & excursions, shopping and related transportation.
- Fitness and Mind-Body ($595 billion) – includes gyms, health clubs, personal training, sports-specific classes, fitness and exercise equipment, and wearable devices for tracking health.
- Preventative and Personalized Medicine and Public Health ($575 billion) – includes proactive medical services that focus on treating “well” people, preventing disease, or detecting risk factors. Also includes more personalized and sophisticated information for individual patients. The idea is to provide tailored approaches for disease prevention and management at a higher-than-normal level.
- Traditional and Complementary Medicine ($360 billion) – includes diverse medical, healthcare, holistic, and mentally or spiritually-based systems, services and products not part of the normal health-care system.
- Wellness Lifestyle Real Estate ($134 billion) – includes real estate development that specifically incorporates wellness elements into their design and amenities. This can be both commercial and residential properties.
- Spa Economy ($119 billion) – Includes spas and the businesses that support it. So this includes spas, spa education, spa consulting, spa capital investments, spa associations, and spa-related media and events.
- Thermal/Mineral Springs ($56 billion) – Includes business associated with wellness, recreational and therapeutic uses of water with special properties. This includes thermal water, mineral water, and seawater.
- Workplace Wellness ($48 billion) – Includes expenditures on programs, services, activities, and equipment by employers seeking to improve their employees’ health and wellness. These are aimed at raising awareness, providing education and offering incentives to encourage employees to adopt healthier lifestyles.
Information for this story comes from the Global Wellness Institute’s 2018 report.