By Sean Moloughney, Editor09.03.24
The global consumer wellness market, which McKinsey & Company estimated at $1.8 trillion, reflects a strong desire among people to take greater control over their health. With wars and geopolitical volatility, impacts of climate change, the emergence of advanced technologies like AI, and other core concerns following a global pandemic, people are investing in themselves.
Despite economic concerns and commodity price spikes, consumers are using their purchasing power to discover a range of nutrition, beauty, and wellness products and services. From cold plunges and saunas to wearable technologies, dietary supplements, and personal care products, people are willing to experiment with lifestyle trends.
Meanwhile, amid a trust gap among policy makers, scientists, and health officials, many people have turned to a mix of dietitians, fitness instructors, life coaches, and other health advocates on social media. As consumers seek more agency over their health, they want effective, science-backed solutions. However, parsing truth from a glut of information and influence is becoming more challenging.
With a scourge of lifestyle-related illnesses, including obesity, diabetes, heart disease, and mental health disorders, opportunities for brands to meet people where they are have never been so abundant.
In the last 20 years, the number of adults diagnosed with diabetes has more than doubled, according to the CDC, and the prevalence of obesity has increased from about 31% in 2000 to 42% in 2020.
The World Health Organization estimated that the pandemic increased worldwide rates of anxiety and depression by over 25%. Gallup research also showed that almost a quarter of the global population feels lonely.
The modern wellness sector requires that companies innovate and deploy new technologies to align products and services with evolving consumer needs. Empowering people to adopt healthier, more fulfilling, and productive lives will not only drive customer satisfaction and loyalty but also position brands at the forefront of the wellness revolution, paving the way for sustained growth and market leadership.
About the Author: Sean Moloughney has been the editor of Nutraceuticals World since 2012. He can be reached at smoloughney@rodmanmedia.com.
Despite economic concerns and commodity price spikes, consumers are using their purchasing power to discover a range of nutrition, beauty, and wellness products and services. From cold plunges and saunas to wearable technologies, dietary supplements, and personal care products, people are willing to experiment with lifestyle trends.
Meanwhile, amid a trust gap among policy makers, scientists, and health officials, many people have turned to a mix of dietitians, fitness instructors, life coaches, and other health advocates on social media. As consumers seek more agency over their health, they want effective, science-backed solutions. However, parsing truth from a glut of information and influence is becoming more challenging.
With a scourge of lifestyle-related illnesses, including obesity, diabetes, heart disease, and mental health disorders, opportunities for brands to meet people where they are have never been so abundant.
In the last 20 years, the number of adults diagnosed with diabetes has more than doubled, according to the CDC, and the prevalence of obesity has increased from about 31% in 2000 to 42% in 2020.
The World Health Organization estimated that the pandemic increased worldwide rates of anxiety and depression by over 25%. Gallup research also showed that almost a quarter of the global population feels lonely.
The modern wellness sector requires that companies innovate and deploy new technologies to align products and services with evolving consumer needs. Empowering people to adopt healthier, more fulfilling, and productive lives will not only drive customer satisfaction and loyalty but also position brands at the forefront of the wellness revolution, paving the way for sustained growth and market leadership.
About the Author: Sean Moloughney has been the editor of Nutraceuticals World since 2012. He can be reached at smoloughney@rodmanmedia.com.
