Industry

The 2024 Industry Trends in Wellness

The Global Wellness Summit (GWS) identified a number of new trends in the Wellness industry for 2024

1. Global Wellness Market
• Overall market volume: The global wellness industry is projected to reach $7 trillion by 2025, up from $4.4 trillion in 2020 (CAGR 9.9%).
• Key segments:

    • Personal Care & Beauty – $1 trillion+.
    • Fitness and Physical Activity – approximately $1.5 trillion by 2025.
    • Mental Health & Meditation Apps: Growing by 15-20% annually.
    • Wellness Tourism: Projected annual growth of 21%.

2. Technology in Wellness
• Wearables: The market for smart wearable devices is forecast to reach $150 billion by 2028 (14% annual growth). This includes fitness trackers, smartwatches, and even smart rings.
• AI Technologies: AI platforms for personalized recommendations will increase customer engagement in online programs by 30-40%.
• Apps like Calm and Headspace have surpassed 100 million downloads by 2024, reflecting the growing demand for digital stress management.

3. Mental Health & Emotional Well-being
• Global spending on mental health has increased by 25% since 2019, reaching $200 billion.
• Corporate Wellness: Over 90% of medium and large companies plan to increase investments in employee mental health support programs.

4. Wellness Tourism
• Market volume: Projected to reach $1.2 trillion by 2025.
• Popular destinations:

    • Ecotourism and retreats in nature reserves.
    • Wellness programs focusing on detox and yoga.

5. Food & Nutraceuticals
• Functional Foods: By 2025, the functional foods market is expected to reach $324.8 billion, with an annual growth rate (CAGR) of about 9%. This growth is driven by increased health awareness, demand for immune-boosting products, and the spread of functional ingredients like probiotics, proteins, omega-3 fatty acids, and adaptogens.
• Nutraceutical Market: The global nutraceutical market is valued at $488.41 billion in 2024, with a focus on brain vitamins, probiotics, and adaptogens.

6. Corporate Initiatives
• Company wellness budgets: Average spending per employee has risen to $350–500 per year, including stress management training, nutrition programs, and consultations.
• Online fitness programs for employees: The growing popularity of hybrid formats shows an 18% year-over-year increase.

7. Environmental Sustainability in Wellness
• Sustainable beauty: Over 75% of brands report transitioning to eco-friendly packaging and ingredients.
• Plant-based approach: The popularity of vegan cosmetics has increased by 30% over the past 3 years.

Trends in the Wellness Industry for 2025
The wellness industry is growing rapidly, and 2025 is expected to be a pivotal year. Key trends include:

  1. Personalized Approach: AI-based technologies and wearables are transforming health approaches, offering personalized training, nutrition, and mental health programs.
  2. Focus on Mental Health: Global spending on mental health has surpassed $240 billion, highlighting the growing demand for mindfulness apps, stress management programs, and corporate initiatives.
  3. Environmental Sustainability: Consumers are favoring eco-friendly cosmetics, plant-based diets, and sustainable wellness tourism.
  4. Hybrid Fitness Models: Online and offline programs continue to gain popularity, offering more flexibility for various lifestyles.
  5. Functional Foods: Adaptogens, probiotics, and brain-boosting supplements are increasingly in demand as part of a comprehensive health approach.

Join our academy to explore these trends and become a leader in the future of wellness! 🌿✨
If you need further clarification or additions, feel free to let me know! 😊