The Global Wellness Economy Reaches a Record $5.6 Trillion — And It’s Forecast to Hit $8.5 Trillion by 2027

According to a new report released today by the non-profit Global Wellness Institute (GWI)—the authoritative, comprehensive source of wellness market data—the industry has made a powerful recovery from the pandemic. If the market was worth a record $4.9 trillion in 2019, and then shrank 11% to $4.4 trillion in the pandemic year of 2020, the research indicates that the wellness economy has seen recent, economy-defying momentum. It grew 27% since 2020 to reach $5.6 trillion, with 7 of the 11 wellness sectors now surpassing their 2019, pre-pandemic values. With consumers, the medical world, and governments now placing a much bigger value on prevention and wellness, the GWI forecasts that the wellness economy will grow at an impressive 8.6% annual pace through 2027, when the market will reach $8.5 trillion—nearly double its 2020 size.

“We are surprised by the resiliency of the global wellness economy, and how quickly it has bounced back from the pandemic. It has exceeded our own expectations and forecasts,” said Katherine Johnston, GWI senior research fellow. “If the pandemic disrupted industry momentum in the short term, it has simultaneously created a dramatic shift in the long-term opportunities and trajectory for wellness.”

“The Global Wellness Economy 2023” is packed with insights: numbers and analysis for all 11 wellness sectors, regional data, the top-20 national markets for each wellness sector, while exploring the major shifts and trends that will impact each wellness market in the future.

2023 Global Wellness Economy Monitor

Snapshots of the 11 Wellness Markets organized into three groups: 1) sectors that grew throughout the pandemic and have continued to grow; 2) sectors that initially shrank but have recovered from the pandemic; and 3) sectors that shrank significantly during the pandemic and have not fully recovered.

I) Wellness sectors that have grown throughout the pandemic and beyond.

Wellness Real Estate:

Projected annual growth rate 2022-2027: +17.4% to reach $887.5 billion

Wellness real estate has been the fastest-growing sector in the wellness economy since before the pandemic, significantly outpacing projections and economic growth trends—and is forecast to be the #1 growth leader through 2027. The pandemic radically accelerated the growing understanding among consumers and the building industry about the critical role that external environments play in our physical and mental health and wellbeing.

Mental Wellness:

Projected annual growth rate 2022-2027: +12.8% to reach $330 billion

The mental wellness category – which includes 1) senses, spaces & sleep ($77.3 billion); 2) brainboosting nutraceuticals & botanicals ($60.7 billion);

3) self-improvement ($38.3 billion) and 4) meditation & mindfulness ($4.3 billion) – has shown exceptional growth since 2019, as consumers desperately sought out products, services and activities to help them cope with the immense recent stress. Every type of product and service has posted strong growth in recent years: sleep solutions; sensory products and services; vitamins, supplements, and functional foods/beverages targeting brain health and energy (30% growth since 2019); cannabis (142% growth since 2019); self-improvement; coaching; and all kinds of meditation and mindfulness products and services.

Public Health, Prevention & Personalized Medicine:

Projected annual growth rate 2022-2027: +1.6% to reach $661 billion

This sector grew by 50% in 2020, due to governments and healthcare systems significantly accelerating their public health and prevention expenditures during the pandemic. Worldwide, public and private spending on public health/prevention has increased as a share of overall health expenditures (from 3.9% in 2019 to 5.8% in 2021 and 2022) and remains far above pre-pandemic levels.

Healthy Eating, Nutrition & Weight Loss:

Projected annual growth rate 2022-2027: +6.8% to reach $1.5 trillion

This category has grown steadily throughout the pandemic, as consumers sought out a variety of foods, beverages, vitamins, and supplements that they believed would strengthen their immunity and help ward off disease. GWI cautions that the growth in this sector should not be interpreted as “consumers were eating healthier” during (or since) the pandemic, as there is scant scientific evidence and no consensus on how healthy some of these products actually are. In addition, the growth in some countries reflects food price inflation, rather than an actual increase in consumer purchases.

II) Wellness sectors that initially shrank but have recovered from the pandemic:

Physical Activity:

Projected annual growth rate 2022-2027: +6.7% to reach $1.4 trillion

The six-sector physical activity market saw declines in the first year of the pandemic, but has rebounded quickly in 2020-2022, as people returned to their exercise routines. Fitness (now a $121 billion market) was the most negatively impacted segment and has not yet returned to pre-pandemic levels, due to many factors (gym members not returning or shifting to online platforms, permanent gym closures, etc.). Mindful movement (yoga, Pilates, etc.), now a $39 billion market, saw a major boost in popularity during the pandemic and is the #1 growth leader compared to its pre-pandemic level (spending increased 16.8% from 2019 to 2022). Consumer spending on sports and active recreation (now a $265 billion market) has also grown rapidly, although participation rates are still below prepandemic levels. Fitness technology—spanning