In Insight, Marketing, Trend

According to Spa Finder, last year 32 million people attended music festivals in the US alone. As the festival circuit expands and festival-goers are aging, a growing number of festivals are incorporating wellness, and offshoot body-mind-soul events are growing rapidly.

The wellness industry grew 10.6% from 2013º2015: from a $3.36 trillion to $3.72 trillion market. Over the past three years, wellness festivals have become big business, generating hundreds of millions of dollars a year in the US alone. There are nearly 1,000 wellness festivals globally ranging from pricey weekend resort getaways to more affordable one-day seminars. According to Fast Company, they are growing at about 20% annually; wellness festivals are a significant piece of the $3.7 trillion global wellness market (which is worth three times the worldwide pharmaceutical market), and represents an increasingly important slice of the $563 billion global wellness tourism category.

The audience is overwhelmingly female in their late twenties through forties obsessed with holistic living and all the accoutrements that go with it. This new crop of festivals are a gold mine for brands eager to tap into affluent wellness enthusiasts.

Read more in Fast Company and Spa Finders 2016 Trends Report 

Photography: Michael Benz via Unsplash

 

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