Wellness is growing on all fronts.
What’s happening: A Global Wellness Institute (GWI) report quantified global spending on personal well-being.
- The global wellness economy was valued at $6.3T in 2023, up 25% from 2019.
- Personal care, nutrition/weight loss (sans GLP-1), and physical activity tiers topped $1T.
- Already valued higher than sports and pharma markets combined, wellness spending will reach $9B in 2028.
Of note, GWI’s 11-sector framework—including personal care, preventative medicine, and wellness tourism—is a more expansive view than McKinsey’s $1.8T assessment earlier this year.
Care package. Leading all spending, personal care & beauty shows no signs of slowing as consumers seek self-care through anti-aging, high-performing, and toxin-free products.
Trading places. Wellness tourism rebounded, while wellness real estate is exploding — up ~200% since 2019 and set to become a top-six sector by 2026.
Engineering buildings for well-being, Canyon Ranch is conceptualizing neighborhoods, The WELL is constructing condos, and Australia’s GURNER Group is plotting a utopia.
Brain game. Mental wellness aids—from supplements to mindfulness and sleeptech—will comprise a $414B industry by 2028. Improving global headspace, startups are tapping AI for scaffolding and wearables for monitoring.
Looking ahead: The wellness economy is climbing, but higher spending should only be celebrated if outcomes improve in the same direction.
