Serenity Now: An Overlooked High-Growth Industry Sector
Recent trends suggest that the wellness industry is continuing to evolve, opening up new avenues of investment opportunities for investment professionals.
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Serenity Now: An Overlooked High-Growth Industry Sector
Expanding at a rate nearly twice as fast as the global economy, wellness industry trends show growth that represent 5.3 percent of global economic output, with the fastest annual growth rates experienced by the spa industry (+9.8 percent), wellness tourism (+6.5 percent), and wellness real estate (6.4 percent).1
The wellness industry includes a number of varied businesses, ranging from personal care, beauty and aging to workplace wellness, and from healthy eating and weight loss to mind-body fitness.
The Millennial generation’s focus on healthy and ethical living, along with an aging Baby Boomer generation’s desire for a more active and healthier retirement, are likely to support the industry’s above-average growth.
Wellness Industry Trends Evolve
Recent trends suggest that the wellness industry will continue to evolve, opening up new avenues of investment opportunities.
A company like Lululemon exemplifies the “athleisure” fashion trend in which clothes designed for workout are worn in other casual or social settings. But the wellness imprint on the future of fashion may include “smart” clothes that boost a wearer’s well-being through self-regulating materials that adapt to outside temperatures and UV conditions, to killing bacteria and moisturizing the wearer’s skin. Today, consumers may wear a Fitbit, but tomorrow, bio-tracking may get interwoven into their everyday wardrobe.
Nutrition and dieting is also moving toward greater personalization. The fact is that there is no one-size-fits-all approach to healthy eating and weight loss. Genetics and blood markers are unique as our fingerprints, and that means a diet that may be effective for one person can be ineffective for another.
Expect corporate wellness programs for employees to become more popular, as employers increasingly discover that healthier and happier employees make them more productive, reduce absenteeism and shave health care costs.
Finally, look for the concept of wellness to extend to dying. (Yes, dying well.) The “living at any cost” ethos of our modern times is losing appeal as people see that it translates into prolonged and painful deaths. As people redefine how they want to die, expect that services will emerge to help guide people to a more meaningful and tranquil end.
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