These Are the 3 Hottest Wellness Sectors, Per Report
The global wellness economy is forecast to hit $9 trillion by 2028 according to new findings from the Global Wellness Institute and three sectors are leading the pack
The global wellness economy is forecasted to reach $9 trillion by 2028 and is nearly four times larger than the global pharmaceutical industry, according to new research from the Global Wellness Institute (GWI).
The nonprofit organization just released a comprehensive, 100-plus-page report that includes new market sizes, recent growth rates and projections through 2028 across eleven wellness sectors.
Among GWI’s findings, three wellness sectors have shown significant growth throughout the pandemic — suggesting that certain areas of wellness remain resilient despite an inflationary landscape.
“The wellness economy continues to march forward at a brisk pace, despite a decline in global well-being on many fronts,” GWI senior researchers Katherine Johnston and Ophelia Yeung said. “In a world full of uncertainty and divisiveness, wellness has become a universal value. No matter your politics or beliefs, who doesn’t desire the knowledge, tools, and opportunities to build a healthy life for yourself and your family?”
The 3 Wellness Sectors to Watch
Wellness real estate, public health, prevention and personalized medicine and mental wellness have emerged as the three sectors that have grown throughout the pandemic, according to GWI’s latest report.
Wellness real estate has been the fastest-growing sector in the wellness economy since before the pandemic and has experienced an +18.1% annual growth between 2019 and 2023. The pandemic was influential in wellness real estate, prompting a greater understanding of how environments impact physical and mental health, according to GWI.
As GWI points out in its report, the number of construction projects earning wellness building certifications in recent years has grown. The report references third-party rating systems such as The WELL Building Standard and Fitwel as two leading players that large, multi-location companies are consulting with on healthy features, such as opportunities for physical activity, nutritious food choices and promoting feelings of well-being.
Following wellness real estate is public health, prevention and personalized medicine, which had a +15.2% annual growth between 201 and 2023 and grew by 42.8% in 2020 following pandemic-related public health and prevention expenditures from governments and healthcare systems.
The prevention and personalized health space has seen much activity in 2024 alone — from the rise of metabolic health companies such as Levels, the first continuous glucose monitor becoming available over-the-counter and Equinox and Function teaming up for a comprehensive biomarker testing program that informs personal training. Personalization is now the name of the game and shows no signs of slowing down, with the first hyper-personalized, AI-powered gym set to open early next year.
Mental wellness achieved a +11.6% annual growth between 2019 and 2023 and has continued to show strong momentum since 2019 — a finding supported by consumer interest in stress-busting products, services and activities. As GWI notes in its report, sleep products, vitamins, supplements, functional foods and beverages, cannabis, coaching, meditation and mindfulness products have all demonstrated a solid performance.
Global Wellness Institute’s 2024 Global Wellness Economy Monitor can be found here.
