The global wellness industry generated $5.6 trillion in revenue in 2022, according to a recent report from the Global Wellness Institute (GWI). The nonprofit organization highlighted the industry’s growth from $3.4 trillion in 2013 and projected a further 57% increase to $8.5 trillion by 2027, nearly double Germany’s GDP.
Katherine Johnston, Senior Research Fellow at GWI, remarked on the sector’s resilience and rapid recovery from the pandemic. However, estimates of the industry’s size vary. For instance, McKinsey & Co. reported it as $1.5 trillion in 2021.
The term “wellness” encompasses a wide range of businesses. GWI defines it as “the active pursuit of activities, choices, and lifestyles leading to holistic health.” The largest category, personal care and beauty, is valued at $1.08 trillion and includes skincare and salon services. Following closely is healthy eating, nutrition, and weight loss at $1.07 trillion, excluding the market for prescription weight loss drugs.
Other significant sectors include wellness tourism ($651 billion), physical activities like gym memberships, and public health and traditional/complementary medicine. Notably, spending on public health, prevention, and personalized medicine surged to $611 billion in 2022, up from $358 billion in 2019, driven by health screenings for COVID-19 and cancers.
Conversely, workplace wellness, comprising employer-driven health programs, decreased from $52.2 billion in 2019 to $50.6 billion in 2022, due to remote work and corporate cost-cutting.
Hospitality companies are increasingly tapping into wellness tourism. For example, Kerzner’s Siro brand, debuting in Dubai, will focus on guests’ physical and mental health. Similarly, Equinox’s hotel in New York’s Hudson Yards, featuring wellness-centric amenities, was recently named to the World’s 50 Best Hotels list. Aman New York also emphasizes wellness with a three-floor spa and medical practice offering comprehensive health programs.
North America leads in per capita wellness spending at $5,108 annually, significantly outpacing Europe’s $1,596. This reflects the high demand for wellness services, including gym memberships, beauty treatments, vitamins, spa visits, and yoga retreats.
