By Mike Montemarano, Associate Editor12.21.20
Global Wellness Institute (GWI), a market research company specializing in the many industries surrounding wellness, issued a new market report that defines mental wellness as a global industry worth an estimated $121 billion, broken into four sub-categories: senses, spaces, and sleep ($49.5 billion); brain-boosting nutraceuticals and botanicals ($34.8 billion); self-improvement ($33.6 billion); and meditation and mindfulness ($2.9 billion).
The company considers this 115-page report to be the first-ever report to comprehensively identify and measure the overall marketplace of mental wellness, as opposed to mental health, which is its own unique “industry bubble” in GWI’s framework, and includes a number of economic activities which weren’t previously included in the company’s reporting.
The working definition of mental wellness, versus mental health, in the reporting represents a paradigm shift which is elaborated on in great depth
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