Health & Wellness Industry Statistics 2022 [Latest Market Data & Trends]
The health and wellness industry has gone mainstream in recent years. CEOs now promote meditation as a productivity hack. The big hotel chains have all launched wellness tourism brands as they’re seeing huge growth in demand.
People are spending more money on their health and experiences instead of traditionally popular areas like fashion. So what’s the state of the industry right now and where is it headed?
Health & Wellness Industry Stats
Let’s start by taking a look at some stats related to the wellness sector in general.
• The global wellness market is valued at over $4.75 trillion.
• In the UK, the health and wellness industry was worth €23 billion in 2020.
• The health and wellness industry growth rate is 10% (based on 2021 data) and is expected to continue at this pace.
Corporate Wellness Market
Workplace wellness has become an increasing focus for organisations around the world. Here are some corporate wellness industry statistics that highlight how this sector is developing…
• The global corporate wellness market is estimated to reach $66 billion in 2022.
• Approximately 75% of large employers and 33% of small companies run wellness programs.
• The corporate wellness industry is being driven by increasing insurance costs related to growing obesity levels.
• Medical costs for people classified as obese (over 40% of the US population) are $1,429 higher than those of normal healthy weight.
• Well-designed wellness programs have a return on investment of 1.5-3 times the dollar amount spent over 2-9 years.
Health & Wellness Industry Trends
So, where is the sector going? What are the current trends in the health and wellness industry? And what’s set to be the next big thing in the future? Here is an overview of some of the key trends we and other key players in the industry are seeing…
• Digital wellness – as people adapt to spending more time at home, there’s increased demand for digital wellness offerings that they can enjoy without leaving the house.
• Health & immunity – consumers are prioritising their health more than ever which means greater receptiveness to products and services that support this (particularly those associated with boosting the immune system).
• Essential oils – in terms of wellness industry products, essential oils have seen a surge in popularity that doesn’t look set to slow.
• Beauty products reflecting diets – we’re seeing a huge increase in beauty products being marketed as vegan and gluten-free with mainstream brands like Garnier highlighting this in adverts.
• Meditation – is no longer restricted to yoga classes or considered ‘woo-woo’, meditation’s health benefits are now being widely recognised which is boosting its popularity.
• Wellness tourism – the wellness tourism market is projected to reach $919 billion by 2022 with leading brands like Equinox launching getaway concepts.
• Protein powders widening their appeal – when it comes to the health and wellness food industry, protein powders have always been big business. But they’re now developing products targeting women and vegan exercisers specifically instead of their traditional body-building market.
Global Wellness Industry 2022 Overview
Interest in wellbeing appears to be at a tipping point. Workplace stress, mental health awareness, and lifestyle-related diseases are all driving demand for wellness solutions. Millennial preferences for experiences over ‘materials things’ may also be a key factor in the increased interest. Based on these macro and micro trends, the health and wellness sector looks set for continued growth throughout 2022 and beyond.
According to Statista’s estimates, the health and wellness industry will likely be worth over $6 trillion by 2025. In fact, the wellness industry itself is currently valued at $4.5 trillion or more. As a result, well-being has become trendy, and so have eating organic food, environmentalism, and similar.
Statistics About Wellness Industry Worth, Size, and Growth
1. The global wellness market is expected to reach $4.24 billion by 2026.
(Imarc Group)
Wellness industry statistics for 2022 and future predictions indicate that the worldwide wellness market will expand at a CAGR of 4.1% between 2021 and 2026. Of course, no forecast can be entirely accurate due to the impact of the worldwide pandemic.
2. The US self-improvement market size is estimated to reach $14.0 billion by 2025.
(Market Research)
The self-improvement market size in the US was $10.5 billion in 2020, and it shrank by 10% compared to 2019. Nevertheless, it’s predicted to expand at a CAGR of 6.0% by 2025.
3. The global health and wellness market size is estimated to exceed $6 trillion by 2025.
(Statista)
According to Statista’s report, the global market size of the health and wellness industry was $4.4 trillion in 2019. Additionally, it is predicted to expand by almost 5.3% between 2019 and 2025.
4. 50.1% of all wellness-related products purchased in the US promote better health.
(McKinsey)
One of the most significant wellness industry trends is staying healthy and preventing diseases and illnesses. That’s not surprising, as the global pandemic has made so many people change their minds about the importance of health and wellness. Now, more than half think food is most important, while the second-most purchased type of items is appearance-related.
5. Personal beauty and anti-aging segment garnered 24% of the wellness market share in 2020.
(Globe Newswire)
It’s not surprising that personal care and beauty is one of the most significant segments of the wellness industry. Of course, people have been concerned about appearance for hundreds of years, but now, wellness has become a new industry trend.