How is the Scope of Wellness Industry in Future lookalike?
January 19, 2024

The most apparent shift that the 21st century has witnessed is the perception of the health and wellness industry. In the not-so-distant past, staying fit and living a wellness-focused lifestyle often meant relying on those old workout tapes or fitness DVDs. Well, been there, done that!

However, as we fast forward to today, look at how the wellness industry has changed! We've witnessed a digital transformation in a way that is sure to make an impact on the scope of wellness industry in future and beyond. From counting calories to analyzing nutrient intake, and whatnot, digital tools have made it easier than ever to stay mindful of what you're putting into your body.

Let us tell you that this shift isn't just about convenience, it's a testament to how technology has become an integral part of our well-being journey. So, let’s gain insights into why the future of wellness industry holds immense potential and discover potential avenues for adopting wellness sector trends.

Scope of Wellness Industry in Future

Health and wellness industry products are hitting the market every day. So what might the future of wellness industry look like? Let’s dive headfirst into what’s waiting for us…

Size of the wellness sector market worldwide by 2025

As we look ahead, the trajectory of the health and wellness market seems poised for remarkable expansion, with projections indicating a substantial increase to nearly seven trillion U.S. dollars by the year 2025. This anticipated surge underscores the escalating prioritization of wellness across diverse sectors, reflecting a profound shift in consumer behavior towards a lifestyle that focuses on health and self-care. 

Size of the wellness sector market worldwide by 2025

The remarkable health and fitness industry growth not only throws light on the increasing awareness and investment in well-being but also signals a transformative era where the wellness industry is set to play a significant role in shaping the global economy.

Average annual growth rate of the global wellness industry between 2020 and 2025

The wellness industry is on a fast track to growth, and between 2020 and 2025, it's like it's got its foot on the accelerator. Among all the segments, the standout performer, wellness tourism is set to skyrocket with a projected annual growth rate of 20.9%.

Average annual growth rate of the global wellness industry between 2020 and 2025

Now, why the hype?

Well, it's because more and more of us are realizing that well-being isn't just about hitting the gym, it's a whole lifestyle. This stat is like a snapshot of the global mindset, where people are actively choosing destinations and experiences that contribute to their overall health. It's not just a trend, it's a movement towards a more balanced and fulfilling way of living.

Functional and Natural food market value 2023-2033

In 2023, the global market for functional and natural health foods reached a substantial valuation of 23.5 billion U.S. dollars, with projections indicating a notable ascent to 38.5 billion U.S. dollars by 2033. This robust growth can be attributed to a heightened consumer awareness of the correlation between dietary choices and overall well-being. 

Functional and Natural food market value 2023-2033

As individuals increasingly prioritize health-conscious options, the demand for functional foods, enriched with nutritional benefits and natural ingredients, has surged. This upward trajectory reflects a global shift toward preventive health measures, with consumers seeking food products that not only satisfy hunger but also contribute positively to their physical vitality and longevity.

Market size of the thermal/mineral springs industry worldwide 2019-2025

This robust expansion can be attributed to the escalating acknowledgment of the therapeutic and wellness benefits associated with thermal and mineral springs. As individuals globally increasingly prioritize health, the demand for experiences offering natural healing properties is experiencing a noteworthy uptick. 

Market size of the thermal/mineral springs industry worldwide 2019-2025

This upswing in market size reflects a widespread shift towards wellness-focused tourism and a heightened awareness of the rejuvenating qualities offered by thermal and mineral springs. The industry, therefore, stands at the nexus of a burgeoning wellness movement, underpinned by a collective desire for natural rejuvenation experiences.

Global market size of the wellness tourism industry in 2022 and 2030

This exponential expansion is driven by a convergence of factors, including a heightened global awareness of the importance of well-being, increased disposable income, and a growing inclination towards integrated travel experiences.

Global market size of the wellness tourism industry in 2022 and 2030

As individuals prioritize health and seek rejuvenating experiences, the wellness tourism sector stands at the forefront, capitalizing on the evolving preferences of a health-conscious consumer base. The significant projected self-care industry growth emphasizes a shifting paradigm where wellness is not merely a trend but a fundamental aspect of lifestyle choices, propelling the industry into a lucrative and dynamic future.

Value of the corporate wellness market worldwide by 2028

The global corporate wellness industry has emerged as a substantial force, reflecting a collective effort by employers to foster the health, happiness, and motivation of their workforce. From implementing corporate fitness programs to promoting healthy eating initiatives and cultivating overall well-being within the office environment, businesses are increasingly recognizing the intrinsic link between employee wellness and organizational success. 

Value of the corporate wellness market worldwide by 2028

Wellness statistics indicate a robust expansion in the size of the global corporate wellness market, with an anticipated growth to 93.4 billion U.S. dollars by 2028, marking a 7% increase from the 2021 figure. This upward trajectory is propelled by the fact that investing in employee well-being not only contributes to a healthier and more engaged workforce but also yields long-term benefits for the overall performance and sustainability of businesses worldwide.

Change in corporate wellness solution priorities since the start of COVID-19

In a November 2020 survey of benefit consultants in the United States, a notable shift in corporate priorities emerged, revealing a substantial 82.31 percent increase in companies expressing heightened interest in behavioral health or mental well-being solutions during the challenging times of the COVID-19 pandemic.

Change in corporate wellness solution priorities since the start of COVID-19

The rise in focus on mental health and self-care industry growth reflects a recognition of the profound impact of the pandemic on employee well-being and the importance of addressing psychological concerns. Conversely, the survey indicated that 70.77 percent of companies showed little change in interest regarding women's health or family planning, it suggests that, despite the ongoing importance of these areas, the urgent demands posed by the pandemic have steered attention toward immediate mental health concerns.

Meditation and mindfulness app awareness and usage in the United States

In the third quarter of 2022, a survey conducted among users in the United States revealed a significant upswing in awareness of mindfulness and meditation, peaking at 63 percent. This marked the highest point within the examined period, showcasing a noteworthy increase in consciousness regarding these practices. Notably, the intent to utilize mindfulness and meditation apps experienced growth from the commencement of 2019 to the third quarter of 2022.

Meditation and mindfulness app awareness and usage in the United States

Despite this surge in awareness and intention, actual usage of these apps stood at 20 percent during the last measured quarter. This data underlines the expanding interest in mindfulness and meditation, pointing towards a rising trend in users considering or exploring these practices, even though full-scale adoption is still in the process of catching up with the heightened awareness.

Number of businesses in the pilates and yoga studio sector in the United States from 2012 to 2022

This surge reflects an increasing societal inclination towards holistic well-being and fitness practices, with a growing number of individuals recognizing the benefits of activities such as pilates and yoga for both physical and mental health. The expanding market not only signifies a heightened awareness of the importance of wellness but also underscores the dynamic evolution of consumer preferences toward mindful and holistic approaches to fitness.

Number of businesses in the pilates and yoga studio sector in the United States from 2012 to 2022

As people seek more comprehensive wellness solutions, the surge in the number of pilates and yoga studios reflects a growing demand for spaces that cater to both physical exercise and mental rejuvenation, contributing to the positive outlook for the industry.

Key Takeaways

  • The wellness industry has undergone a significant transformation from traditional workout methods to a digital revolution, with fitness, meditation, and health-related apps taking center stage.
  • The future of the wellness industry appears promising, marked by substantial market growth projections and a shift towards holistic health and self-care.
  • The global wellness market is expected to reach nearly 7 trillion U.S. dollars by 2025, reflecting a profound societal shift towards prioritizing well-being.
  • The health and fitness industry, valued at over 4.3 trillion U.S. dollars in 2020, showcases a growing global awareness of the interconnectedness of health and lifestyle choices.
  • Wellness tourism, functional and natural foods, and thermal/mineral springs industries are experiencing remarkable growth, emphasizing a global shift towards preventive health measures and holistic well-being.
  • The corporate wellness market is projected to reach 93.4 billion U.S. dollars by 2028, as businesses recognize the link between employee well-being and organizational success.
  • Emerging trends in workplace wellness include a heightened focus on mental well-being solutions, with an 82.31 percent increase in corporate interest in behavioral health programs since the start of COVID-19.
  • Consumer spending on health and meditation mobile apps is on the rise, reflecting a growing awareness of the importance of mental wellness and the accessibility of digital platforms.
  • The pilates and yoga studio sector in the United States, while experiencing a decline in 2020 due to the COVID-19 pandemic, is anticipated to rebound with a 6.11 percent growth between 2020 and 2022.
  • The dynamic growth of the wellness industry, the increasing prioritization of holistic well-being, and the potential for innovative trends and technologies are going to shape the industry's future landscape.

How can Antino help you build a health and wellness product?

Having delved into health and wellness statistics that shed light on the industry's evolving landscape, it is evident that the future holds transformative trends with lasting impacts. The burgeoning interest and heightened attention from consumers signal a paradigm shift in the health and wellness sector. As we immerse in the future trajectory of this industry, it becomes crucial to monitor emerging trends that are poised to make a substantial impact.

How did we accelerate change for Fitbasix?

To help revolutionize the fitness journey of the users, Antino helped Fitbasix develop a Web Admin Panel while also revamping their website and Android & iOS applications.

Technology we used

Flutter | Node js | Server AWS

Challenges faced by Fitbasix

  • Managing recurring payments like EMIs
  • Resolving the time gap between payment notifications
  • Generating customizable invoices
  • Preventing random allocation of trainers
Our health and wellness product - fitbasix

Solutions we provided

  • Our developers created a custom function for all the necessary calculations and processes to handle recurring payments in the system
  • To resolve the time gap, our experts removed the payment dependency on the webhook
  • Enriched the app with a PDF kit to generate invoices in a desired format that can be easily customized using HTML and CSS
  • Integrated the ‘trainer assign’ feature in the admin panel to ensure the allocation of appropriate trainers for the users

In response to the wellness industry trends, seeking expert advice becomes paramount, and for those in search of a foolproof solution, connecting with Antino's foremost wellness and fitness app development experts promises valuable support. Feel free to reach out to us for expert advice and stay ahead in the dynamic landscape of the health and wellness market.

Key Takeaways

  • The wellness industry has undergone a significant transformation from traditional workout methods to a digital revolution, with fitness, meditation, and health-related apps taking center stage.
  • The future of the wellness industry appears promising, marked by substantial market growth projections and a shift towards holistic health and self-care.
  • The global wellness market is expected to reach nearly 7 trillion U.S. dollars by 2025, reflecting a profound societal shift towards prioritizing well-being.
  • The health and fitness industry, valued at over 4.3 trillion U.S. dollars in 2020, showcases a growing global awareness of the interconnectedness of health and lifestyle choices.
  • Wellness tourism, functional and natural foods, and thermal/mineral springs industries are experiencing remarkable growth, emphasizing a global shift towards preventive health measures and holistic well-being.
  • The corporate wellness market is projected to reach 93.4 billion U.S. dollars by 2028, as businesses recognize the link between employee well-being and organizational success.
  • Emerging trends in workplace wellness include a heightened focus on mental well-being solutions, with an 82.31 percent increase in corporate interest in behavioral health programs since the start of COVID-19.
  • Consumer spending on health and meditation mobile apps is on the rise, reflecting a growing awareness of the importance of mental wellness and the accessibility of digital platforms.
  • The pilates and yoga studio sector in the United States, while experiencing a decline in 2020 due to the COVID-19 pandemic, is anticipated to rebound with a 6.11 percent growth between 2020 and 2022.
  • The dynamic growth of the wellness industry, the increasing prioritization of holistic well-being, and the potential for innovative trends and technologies are going to shape the industry's future landscape.
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AUTHOR
Vinay Krishna Gupta
(Co-Founder & CEO, Antino)
An alumnus of IIT Kharagpur, with experience in working across various industries like Information Technology, Automobile, Education, E-Commerce, Travel, etc. Well-versed in leading software development teams focused primarily on iOS & Backend development.