The onset of the pandemic has put the spotlight on the importance of health even more, both physically and mentally. As more people are learning to incorporate self-care into their everyday routine, this industry is thriving like never before. And the staggering numbers prove just that.
Globally, this industry generates 5.3% of worldwide economic output. The health and wellness market reached a value of $3.31 billion in 2020 globally. By 2026, this industry is expected to reach a value of $4.24 billion with a CAGR of 4.10% from 2021 to 2026.
The vast industry of health and wellness is dominated by the personal care, beauty, & anti-ageing sector, which stands at a $1.1 trillion market share. The physical activity sector is a close runner-up with a total market share of $828 billion.
Ultimately, health and wellness isn’t only achieved through physical activity and the use of the right products — the power of wellness tourism shouldn’t be underestimated. Travel can heal the soul and contribute to the overall mental and physical health of any individual. It’s no surprise that it accounts for 17% of all worldwide tourism expenditures.
The health and wellness industry — and the online content created on the topic — speak to every age group. As a brand, your campaigns need to aim at the crowd that’s constantly on the lookout to improve their well-being. The most effective way to get your message across is by leveraging health and wellness influencer marketing.
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