The panorama for consumer health and wellness is continuously shifting. Consumers are now focused toward making healthy changes to their lifestyle for living a better life. As people are turning their focus on a more holistic approach to their health and well-being, several brands and manufacturers are hugely investing in health and wellness products as well as services.
The health and wellness sector covers all activities which encourage physical and mental well-being. From healthy diet, personal care, beauty, nutrition, to meditation, weight-loss, spa treatments,and wellness tourism the health and wellness sector takes care of offering all these facilities to customers all across the globe. Today, this sector is experiencing tremendous growth because of the growing emphasis of people on healthcare and their changing lifestyles. Also, a research report by Research Dive states that the global health and wellness market all across the globe will increase by a CAGR of 4.8% by 2026.
The rise of health and wellness trends
We live in a modern era, where we have access to various luxury services that can up lift our mental as well as physical well-being. Nowadays, people are opting for spas and thermal & mineral spring treatments.These treatments are seen as a remedy to cure patients suffering from stress, hyper tension, skin infections,abnormal blood circulation, and detoxification of the body. The advantages of thermal springs and health spas are majorly acting as a booster to the growth of health and wellness industry. Further more, rising occurrences of chronic disorders and diseases like asthma, arthritis and cancer are increasing the adoption of health and wellness services all across the world. Whereas, rise in trends for organic and sustainable products and services are seen as a major factor boosting the popularity of health and wellness sector.
Developments in the health and wellness sector
When it comes to current health and wellness craze, there is certainly a lot to keep up with. Several companies are coming up with interesting and new products and services that promise a better life. These companies are heavily investing for discovering products or services that satisfy customers’ needs.
In 2019, L'Oréal, the world's leading beauty company has announce dpartnership with uBiome, a leader in Microbial Genomics with an aim to advance a novel research into the skin micro biome. These micro biome sare nothing but trillions of bacteria that live onthe skin and also act a major barrier to your skin. This collaboration connection L'Oréal's proficiency in the science of skin care with uBiome's knowledge in micro biome research. With this partnership, the both these brand saim to conduct new research on the skin's bacterial eco system, with a goal of providingin-depth skin insights to uBiome's global community.
Apart from L'Oréal, there are various other brands contributing to the health and wellness sector by engaging themselseves in activities like new product launches, partnerships, merges & acquisitions, and research & development activities. Some of these top brands are Nestlé, Abbott, B. Braun Melsungen AG, Omron Healthcare, Inc., General Mills Inc., Medtronic, Koninklijke Philips N.V., Johnson & Johnson Services, Inc., The Coca-Cola Company, F. Hoffmann-La Roche Ltd., LifeScan, Animas LLC,and others.
Future scope of the health and wellness industry
Be it beauty & personal care products or health & wellness food, wellness & tourism or fitness equipment, every sector of the health and wellness industry is booming. This is mainly because people today are more health conscious. Whereas, growing investments into research and development activities by various companies are fueling the growth of the industry. Considering all these factors, it is clear that the health and wellness industry in on the verge of gaining heights and bring in various novel products and services in the coming years.