According to the United Nations, seniors aged 65 and over are the fastest growing demographic group worldwide.¹⁴ This segment accounted for 9% of the global population in 2019 but is expected to rise to 16% by 2050.

As people grow older, there is not only an increased need for products that prevent and treat physical and mental disorders and diseases, but there is also greater demand for cosmetics, anti-aging cream, personal care products, and procedures that help rejuvenate the body.

Men, too, are becoming larger consumers of cosmetics and personal care products in markets around the world. The Connecting the Dots 2022 report from insights firm GWI states that since 2018, beauty and cosmetic products have represented the “fastest-growing interest” among male consumers, increasing by 21% between 2018 and 2021.¹⁵

As a result of the COVID-19 pandemic, more people are aware of the need for products and activities that help support mental health. At the same time, many consumers of all ages are increasingly seeking out foods that are not only grown with fewer chemicals and through more sustainable methods, but foods that are cooked or processed to maintain their nutritional properties.

Other trends that shape today’s health and wellness industry include

• Greater utilization of electronics and smart devices,
• Introduction of virtual and augmented reality,
• Diffusion of e-commerce for direct sales to consumers,
• Redesigning the home to incorporate health and wellness areas,
• Wider selection of amenities and services offered in spa resorts and wellness clubs to attract new customers,
• Focus on providing long-lasting experiences at these facilities,
• Reconnecting with nature through natural and sustainable products, and
• Discovering wellness practices from different cultures.

The following sections provide an overview of the various sectors of the health and wellness industry that are evolving and adapting to meet these demands. Table 2 presents a small sampling of the many companies offering products used in this industry.

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• Factors driving demand in the health and wellness industry
• Sport, fitness, and recreational activities
• Traditional, complementary, preventive, and personalized medicine
• Wellness tourism
• Nutrition and weight management
• Beauty and personal care
• Wellness real estate
• Mental and spiritual wellbeing
• Workplace wellness