The worldwide health and wellness space is an industry currently valued at $3.72 trillion and is growing at over 10% annually. According to WellToDo, these are the top 4 categories within the colossal market to watch in the coming months:
“For their recent Well Economy report into the burgeoning global wellness space, consultancy firm JWT surveyed over 1,000 US consumers and found that 58% think of sleep quality when asked about their health.” The need for quality sleep is urgent and consumers’ tired cries are being heard. “Going beyond the need for advice and coaching, innovative brands are leveraging the demand for sleep optimization by creating accessories that combine luxury and science to aid the process of nodding off.” From books filled with evidence-based sleep techniques, to yoga retreats, to luxury spas, and specialty mattresses, the list of methods and items available is quite long.
One particularly intriguing business venture addressing the need for sleep is the Napercise class offered by David Lloyd Clubs. A spinoff of a traditional exercise class, it targets exhausted parents and is essentially a group of people on single beds napping for 45-minutes. Lulled to sleep by atmospheric sounds, this health and fitness class has one goal in mind: to help people make up for a bad night’s rest.
Baby boomers are “currently leading the way on fitness consumption as much as they are in other areas.” Nuffield Health illuminated that “members in their sixties made an average of seven visits a month to the company’s health clubs, compared to the five made by those aged 20-29.” And yet the majority of the health and well-being industry’s innovative efforts are geared toward millennials—a generation that does indeed possess excitement for healthy lifestyles but also has a “far less disposable income” compared to their seasoned counterparts.
Older generations have the money to spend (and are willing to spend it) on companies who provide health services emphasizing the positives rather than the negatives associated with aging.
“Boutique fitness studios and healthy restaurants can feel tempted to promote an ‘Instagram everything’ culture to help grow their reputation,” reports WellToDo, but there is an increasing awareness surrounding the hazards of excessive screen time; studies show that too much screen-time impairs brain structure and function. And while “strict digital detox policies may struggle to make it into the mainstream anytime soon, startups willing to enforce them could certainly build a loyal tribe.”
One cool tool aimed at helping humanity refrain from overly touching their devices is the Forest App. Launched in 2014 and available on the iTunes store, it allows users to plant a virtual tree and watch it grow if they abstain from screen time. If users “succumb to the lure of emails,” the tree quickly withers away. Brilliant.
International ed-tech platform ClassDojo collaborated with Yale Center for Emotional Intelligence and revealed that “70% of teachers and parents think students should be learning about emotional well-being.” Guided meditation platform Headspace “took up the mantle too, and launched three children’s versions of their apps, targeting age groups from the under-fives to twelve-year-olds.”
All of this techy-driven mindfulness launched amid growing concerns behind screen time damaging developing minds is so well-timed.
But, offline mindful solutions are being explored too. For example, Oxford-based startup, Empowerment Education, “combines martial arts and fitness classes with classroom-based emotional resilience training.”
Read more about these 4 must-watch categories within the booming health and wellness industry at WellToDo.
Photography: Aral Tasher via Unsplash