6 Health & Wellness Industry Trends to Watch in 2022
The health and wellness market is currently valued at just over $1.5 trillion and has only continued to grow over time. From a global standpoint, the industry is expected to see an annual market growth of 5 to 10 percent. The category is broad and often encompasses and overlaps other health-related categories. However, per McKinsey insights, consumers today view the health and wellness industry across these subcategories:
- Physical health
- Fitness levels
- Mental Health/Mindfulness
Each of these subcategories has its own emerging trends to watch for in 2022 that will help shape the wellness industry going forward. McKinsey research shows that of approximately 7,500 surveyed respondents, 79% believe wellness is important and 42% consider it a top priority. With improved technology and consumer demands shifting toward more personalization, health and wellness brands must adapt and find ways to respond to them.
1. Personalized, Data-Driven Healthcare
When taking physical health a step beyond any prescription and nutritional supplement, data-driven health care within the wellness industry includes personal health trackers that empower individuals to get what they need to stay healthy. This includes everything from tracking their health data points (i.e. weight, heart rate, etc.) to obtaining prescriptions as needed or making a doctor’s appointment through telehealth. Consumers are using technology to drive decisions and take actions regarding their well-being.
Plus, many of these trackers connect with other fitness apps and users are encouraged to share their journey and statistics on social media.
2. At-Home Fitness Equipment
Every few years, there’s a new fitness craze of the moment. Whether it is aerobics and Zumba, CrossFit and Pilates, there is always a new way to exercise driving consumer attention. In the wake of pandemic lockdowns when access to gyms and studios was only available virtually, more consumers brought their workouts into the home. This shift helped the growth of the at-home fitness industry.
Technologically advanced fitness equipment like Peloton and Mirror became best sellers, as well as fitness apps and wellness programs that offered in-home workouts for a monthly subscription fee. This shift in the health and wellness industry is expected to remain steady as people continue to seek the convenience of when and how they work out.
With mental wellness on top of people’s minds during lockdowns, maintaining a healthy lifestyle at home was a game-changer. These wellness trends didn't only focus on fitness, but food as well.
3. Tailored Food Services
Over the past few years, personalized nutrition and diet trends have taken over the health and wellness industry. Healthy eating and functional food have become a focus like never before. This emerging nutritional trend has continued to grow, with more and more consumers asking to be able to tailor their food choices.
As a result, subscription food services and programs are on the rise. They allow consumers to pick and choose the meals they receive, when they receive them, and at a price point that’s budget friendly. Additionally, juicing is also a trend that continues into the new year, with blenders, measuring cups, and protein powders in constant rotation on Amazon’s best seller list.
4. Aesthetic Equipment and Products
In addition to approaching trends in the health and wellness industry from a diet and exercise standpoint, “appearance” falls under the health and wellness category. Items like makeup and skincare often fall under beauty and wellness, but collagen supplements, oxygen jets, and other resources and equipment to help improve appearance is part of this category.
For a general idea of how much these types of trends are on the rise, in April 2021, Allied Market Research published a report that revealed the global collagen supplement market generated $1.82 billion in 2019 and is expected to grow to $3.01 billion by 2027.
5. Sleep Enhancers
People are always looking for ways to get a better night’s sleep. Sleep-enhancing products like gravity blankets and customized pillows are still part of the trends to watch for in 2022. Additionally, melatonin and CBD supplements are other products that have been popular within the health and wellness industry. Nielsen statistics show a 42.6% year-over-year increase of melatonin supplements in 2020 with industry analysts predicting continued market growth.
In addition to trends, how do you find everyday products in enduring categories that everyone can benefit from? Find ones that solve a lingering problem. According to the American Sleep Apnea Association, 50 to 70 million Americans of all ages and socioeconomic classes have sleep-related problems, which means there’s a vast, built-in audience for these types of products.
6. Meditation Accessories
With the stress of 2020 adding to the normal day-to-day stress, the need for meditation apps, products, and services has skyrocketed as well. This includes everything from mindfulness apps to program retreats as well as everything needed to create a calming atmosphere, including essential oils, sound machines, and mats. When it comes to the wellness industry, the focus on the mind-body connection through meditation is expected to account for $9 billion of the market by 2027.
Winning the Wellness Industry
Many of the nice-to-haves in the health and wellness industry are starting to become everyday necessities, which is shaping buying behavior. The goal is to provide personal care products consumers love and will have a need for in the long run.
Many of the aforementioned industry trends have sustainable outlooks as societal shifts continue to change. By building a strong brand and scale to meet the increasing growth within this industry, passionate health and wellness entrepreneurs can position themselves for sale as an option down the road.
At Forum, we look for brands who receive the majority of sales through Amazon FBA and have netted a profit of at least $200K over the past year. In return, we offer fast and efficient cash payouts as a reward for your hard-earned growth.