Wellness Industry 2022: Pandemic boosts self-care product sales
After 2 years of the pandemic, physical and mental health have gained more traction as we face isolation and sickness. Overall, health has broadened and matters to more people globally as self-care has become a major priority. With more people experiencing mental health issues it’s no longer viewed as a somewhat fringe experience. Social distancing has facilitated the self-care psychosis even further.
More people in 2022 are reflecting and planning for a healthier, more vibrant year. From improving mental health to gut health and monitoring our stress levels, the wellness industry is primed for increased profitability in the new year. Whether nutrition or mindfulness or fitness, more eCommerce companies are preparing to grow their sales within this popular space.
Also known as “the wellness economy” the wellness industry definition refers to any products around physical and mental health. This includes products for fitness, nutrition, sleep & general well-being. If it improves our bodies or our minds in some way, it’s the wellness industry.
The steady growth of the wellness economy has now increased its global market value to approximately 4.4 trillion – with an annual growth rate of 5 to 10 percent in recent years. The U.S. has the biggest health and wellness market, valued at 52.5 billion, while China comes in second at 19.9 billion, and Australia 3rd (9.5 billion). The UK is still at a whopping 9 billion and Germany at 6.4 billion.
Mental health products such as “sense spaces” and sleep grew 12.4% while meditation and mindfulness grew an astounding 25%. Healthy eating and nutrition for weight loss maintained positive growth at 3.6% while workplace wellness investments shrank 7%.
In 2021 the Global Wellness Institute (GWI) released the much-anticipated wellness report. It’s known as “The Global Wellness Economy: Looking Beyond Covid.” This report reveals a snapshot of consumer behaviour and important trends that lead to greater public health.
To know the top wellness trends, we need to know the most popular wellness divisions. The six most popular include:
1) Health – Not only supplements and medicine but also includes medical devices and health trackers.
2) Fitness – At home exercise equipment and VR inspired technology.
3) Nutrition – Apps, diet programs, and subscription food services.
4) Appearance – Apparel and beauty products like skincare and collagen supplements.
5) Sleep – Medications, app-supported sleep trackers, and other sleep-enhancing products.
Below is a spending report of the top countries for the wellness industry within the 6 primary categories shown above. As you can see health remains the most crucial aspect while appearance and fitness follow next.
It’s important to note values are always attached to spending habits. Various countries prioritize certain aspects of the wellness industry over others. For example, Germany emphasizes fitness more than the UK. The UK emphasizes nutrition more whereas the United States emphasizes mindfulness. It’s important to monitor your own market for the best customer targeting sales methods.
Wellness product trends
These trends will help shape the 2022 health and wellness market. They include wellness wearables, fitness VR, gut health, immunity and active lifestyle products.
Tracking our fitness and health levels are popular with wearable devices and will continue to grow its market share. Popular items like Fitbit and Apple Smartwatch allow you to monitor your heart rate, keep track of physical activity, and monitor your sleep patterns. New watches are even able to track your stress levels.
Smartwatches can now monitor your mental health by reading cortisol levels. Sensors like this are relatively new and will surely entice customers who appreciate self-care and measuring health levels. This trend is likely to rise in popularity and be adapted with numerous smartwatch carriers.
With more and more consumers embracing physical fitness from home, they are seeking more fun ways to get healthy. Gaming techniques for people naturally increase someone’s desire to push themselves into fitness. Virtual reality fitness or VR fitness is using cutting edge immersive technology to create exercise environments from Boxing to Yoga and jogging. Popular VR carriers have been seeing large upticks in sales.
A survey of 16,000 adults found that they are focused on their immune system. They broadened their definition of wellness to include intellectual wellness, sexual wellness, facial exercises, animals and music. 65% confirmed they are doing more to actively improve their immune system such as through vitamins, botanicals, and making better food choices.
With a more health-conscious global market, the wellness economy will continue to grow and improve upon currently active lifestyle trends. From fashion to wireless headphones to apparel, it seems more and more consumers are joining the active lifestyle revolution than ever before in 2022.
“Our research shows the extent to which the pandemic has impacted attitudes towards personal wellbeing and self-care, and it’s encouraging to see the increased importance that many people are now placing on looking after their own and others’ health.”
Executives predict that consumers will seek more control and personalisation in wellness products and services in 2022. They value products that make their daily lives better with real-time data. From fitness trackers to healthier workplace-inspired products more customers want more overall wellness lifestyle options. They also like social channels that help influence their lives and largely trust brands that are active on social media. Social selling has become very popular within the last few years with influencers staggeringly garnering customer loyalty and retention.
More customers embracing healthy and organic lifestyles facilitates more clean-living standards in other areas as well. This means the target audience for the wellness economy is interested in not only socially conscious products but socially conscious companies. While people are assessing the benefits of plant-based eating for human health their natural pull is also environmental, ignoring further dangerous chemicals and toxins. Dr Alsona Pulde says “in 2022 we’ll become more mindful of what we consume and its impact on the planet.”
“87% of consumers want brands to act now to encourage future sustainability.“
Food creates 20 – 30% of all global carbon emissions, with a large portion of that being animal food consumption. The transition to more plant-based foods can decrease greenhouse gas emissions by up to 70% by 2050. A diet known as the “climatarian” diet which focuses on plant-based foods can reduce the risk of diabetes, high blood pressure, heart disease, autoimmune diseases, and obesity. Though good pricing will always matter to consumers, more people are keen to natural sustainability in 2022 and are making significant changes to their lives, and shopping behaviours. They will seek brands that are more natural and globally conscious.
A study from North America, Asia, Europe, and the United Kingdom also confirmed that customers want Eco-friendly packaging. More than 80% of participants felt that “it was important or extremely important for companies to design environmentally conscious products.” Knowing this matters when you work with a 3pl like Selazar that uses eco-friendly packaging.
So, embrace new channels to reach your target audiences, relay a lifestyle-focused brand as well as a socially conscious one, and be aware of the latest trends for what your customers are seeking in 2022. Lastly, also remember that next day delivery matters. Working with a reputable logistics company that allows you to control your own branding and offers swift final mile delivery matters for customer happiness and repeat sales. Happy selling.
Matt is the writer for Selazar where he provides useful content on logistics, technology, marketing, and strategy for eCommerce businesses. His goal is to help business owners and retailers stay updated on the latest trends while also learning the best practices to expand their operations. If you are interested in getting in touch with Matt, please send an email to firstname.lastname@example.org