The global wellness industry is growing rapidly, and a new report implies that it has crossed the GDP of Germany in size. A report by a nonprofit organization said that the wellness industry around the world added $5.6 trillion in revenue in 2022. It has also predicted a much higher rate of growth around the world in the next five years.
The Global Wellness Institute is a nonprofit located in Miami, Florida. It recently released its report on the global wellness economy and said that it has reached $5.6 trillion in 2022. This is a huge increase since the pandemic. The report said that seven of the eleven wellness sectors have seen a full recovery, and the 2022 market size exceeded their levels in 2019.
The nonprofit has also projected robust growth in global wellness at 8.6 percent per year for the next five years. This growth rate is much higher than the IMF forecast of 5.1 percent projected global GDP growth.
The report says that global wellness has seen growth all over the world. However, it specified that the industry showed its strongest growth and resilience in North America and Europe, as well as the Middle East and North Africa regions.
The report from the Global Wellness Institute mentioned revenue in all eleven sectors. It is as follows:
Personal Care & Beauty—$1,089 billion
Healthy Eating, Nutrition, & Weight Loss—$1,079 billion
Physical Activity—$976 billion
Wellness Tourism—$651 billion
Public Health, Prevention, & Personalized Medicine—$611 billion
Traditional & Complementary Medicine $519 billion
Wellness Real Estate—$398 billion
Mental Wellness—$181 billion
Spas—$105 billion
Workplace Wellness—$51 billion
Springs—$46 billion.
The Global Wellness Institute has been providing reports on the wellness economy through research using unbiased data and analysis for more than a decade. It has also been projected that the Healthy Eating, Nutrition, and Weight Loss sector’s growth will grow faster than the Personal Care and Beauty sector in the coming years.
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