![](https://www.leisureopportunities.co.uk/communityleisureuk/images/noline.gif) |
Global wellness economy reaches record-breaking $5.6trn – predicted to hit $8.5trn by 2027
07 Nov 2023
The global wellness economy will be worth US$8.5 trillion by 2027, according to new research unveiled by the Global Wellness Institute (GWI).
Called The Global Wellness Economy 2023, the report was unveiled today on the first day of the 17th annual Global Wellness Summit (GWS), hosted in Miami, Florida.
It is the 10th edition of its kind and illustrates how the market has fared since the massive economic shocks of the pandemic.
It provides numbers and analysis for all 11 wellness sectors, regional data and 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.
The journey so far Between 2019 and 2020, the wellness market shrank from US$4.9 trillion to US$4.4 trillion (11 per cent).
It has since grown 27 per cent to reach a record-breaking US$5.6 trillion in 2022, where seven of the 11 wellness sectors now surpass their 2019, pre-pandemic values.
The GWI’s 2022 figures for the 11 sectors are as follows (in ascending order):
• Personal Care and Beauty – US$1.089 trillion (+102 per cent on 2019)
• Healthy Eating, Nutrition and Weight Loss – US$1.079 trillion (+118 per cent on 2019)
• Physical Activity – US$976 billion (+111 per cent on 2019)
• Wellness Tourism – US$651 billion (+90 per cent on 2019)
• Public Health, Prevention and Personalised Medicine – US$611 billion (+171 per cent on 2019)
• Traditional and Complementary Medicine – US$519 billion (+107 per cent on 2019)
• Wellness Real Estate – US$398 billion (+177 per cent on 2019)
• Mental Wellness – US$181 billion (+139 per cent on 2019)
• Spas – US$105 billion (+92 per cent on 2019)
• Workplace Wellness – US$51 billion (+97 per cent on 2019)
• Thermal / Mineral Springs – US$46 billion (+71 per cent on 2019)
“We’re surprised by the resiliency of the global wellness economy, and how quickly it has bounced back from the pandemic,” said Katherine Johnston, GWI senior research fellow and co-author of the report.
“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 GWI predicts that full recovery for the slightly lagging sectors of Wellness Tourism, Spas and Thermal / Mineral Springs will be swift given pent-up demand, anticipating that the first two categories will surpass their 2019 value by year-end 2023 and the latter by 2024.
Maintaining momentum The GWI forecasts that the wellness economy will only expand its share of consumer spending and the global economy over the next five years – growing at an annual rate of 8.6 per cent, higher than the projected global GDP growth of 5.1 per cent (IMF forecasts).
The market is slated to reach US$6.3 trillion by the end of 2023 and US$7.4 trillion in 2025, on its march toward US$8.5 trillion in 2027, when it will represent 6.6 per cent of global GDP (vs. 5.6 per cent in 2022).
The biggest projected wellness growth leaders through 2027 are: • Wellness Real Estate (17.4 per cent annually) • Wellness Tourism (16.6 per cent annually) • Thermal/Mineral Springs (14.3 per cent annually) • Mental Wellness (12.8 per cent annually)
The unusually high future growth rates for Wellness Tourism and Thermal / Mineral Springs reflect a period of continued recovery from 2023-2025.
Regional analysis Wellness markets in all global regions have fully recovered from the pandemic, but North America (123 per cent of 2019), Middle East-North Africa (119 per cent of 2019) and Europe (114 per cent of 2019) have shown the most powerful growth rates.
In 2022, as countries in Asia suffered prolonged disruptions and lockdowns, the North American market (US$1.9 trillion) surpassed Asia-Pacific (US$1.7 trillion) as the largest regional wellness economy.
These two regions, along with Europe (US$1.5 trillion market), now make up 90 per cent of the entire wellness market.
The report also states that per capita spending on wellness is highest in North America (US$5,108) and Europe (US$1,596).
What’s next for the 11 sectors? Four wellness sectors – Personal Care & Beauty, Healthy Eating, Nutrition and Weight Loss, Physical Activity, and Wellness Tourism – will exceed US$1 trillion in market size by 2024.
Three sectors are expected to surpass half a trillion dollars in 2024: Wellness Real Estate, Traditional & Complementary Medicine, and Public Health, Prevention and Personalized Medicine.
Healthy Eating, Nutrition and Weight Loss is also expected to leapfrog Personal Care & Beauty to become the largest wellness market by 2025.
Meanwhile, Wellness Real Estate will enter the top five sectors in 2025, and explode from a US$398 billion market in 2022 to US$887.5 billion in 2027.
“The global wellness economy has a strong current under its wings, based on global trends that are only accelerating: an ageing population, rising chronic diseases and mental unwellness, and a shift in consumer values,” said Ophelia Yeung, GWI senior research fellow and paper co-author.
“But it’s also facing some challenging macro conditions like widening wealth gaps, consumer confidence in uncertain economic conditions and rapidly changing geopolitics that will affect the flow of people, capital, technology and ideas. How the wellness economy will do will depend on the interplay of all of these factors.”
To read the full version of the report, click here.
Going forward, the GWI will release a Global Wellness Economy Report at each annual GWS.
The institute will also release Its Country Rankings Report companion research providing market size, rankings, analysis, and per capita wellness spending for 150 nations, on 30 January 2024.
back
|
Latest member news |
![](https://www.leisureopportunities.co.uk/communityleisureuk/images/darkblueline.png) |
![](https://www.leisureopportunities.co.uk/communityleisureuk/images/noline.gif) |
New pilot to tackle hypertension
A collaboration between two GP surgeries and Wave Active, the operator of local
sports and leisure centres, will see patients in Seaford, East Sussex with early
signs of hypertension undergo a programme of education and supervised physical
activity to reduce the risks of developing a health condition associated with
hypertension.
read more...
Online classes introduced for people recently out of hospital
Online live exercise classes will soon launch in Cheshire East targeting people
who have recently left hospital, are deconditioned (seen a decline in physical
function due to inactivity or bedrest) and/or unable to access their local health
and leisure services in-person.
read more...
Activity on referral ‘fastest growing membership’ type for Trilogy Active
Midlands based Trilogy Active who operate the NHS Activity of Referral Scheme
across Northamptonshire have shared that over 880 people are staying active after
being referred to the scheme by their GP.
read more...
Get fit for surgery
Each year, Edinburgh Leisure’s Active Communities programme uses the power of
physical activity to support over 12,000 disadvantaged people across the city to
improve their health and wellbeing.
read more...
Vitality programme grows by 40% in East Renfrewshire
East Renfrewshire residents have praised an exercise programme, aimed at
supporting those with medical conditions to be active and connected, whilst
increasing their fitness levels.
read more...
Worcestershire man loses almost half his body weight as part of incredible transformation
Sheldon Donavon, 32 from Malvern, who attends the Freedom Leisure centres in both
Worcester and Malvern, has lost over 13 stone in body weight.
read more...
Praise for Health for Heroes
An army veteran from Barrhead has praised East Renfrewshire Culture and Leisure's
Health for Heroes initiative, which offers free health and wellbeing support for
veterans.
read more...
Conquering diabetes with GLL
Vinod Mistry is living proof that you can manage diabetes long-term through diet
and exercise - and go on to complete some of the world’s most gruelling physical
challenges.
read more...
|
![](https://www.leisureopportunities.co.uk/communityleisureuk/images/noline.gif) |
From quadruple bypass to confident gym user
David Irving knows the power of positive lifestyle change, thanks to support from
Everybody Health & Leisure.
read more...
High Life Highland Introduce Dynamic Wellbeing
High Life Highland has introduced a new class to its offering in Grantown-on-Spey
which is aimed at older adults who might benefit from some gentle exercise to help
them manage long term health conditions or mobility problems.
read more...
Horizon Leisure’s Wellbeing Hub celebrates first birthday
Charitable leisure trust, Horizon Leisure is celebrating the one-year anniversary
of the first-of-its-kind Health and Wellbeing Hub based at a shopping mall in
Havant.
read more...
£17M social value figure shows health & wellbeing contribution for Mytime Active
Social enterprise, Mytime Active, generated a social value in excess of £17
million for its neighbourhood economies last year.
read more...
Pendle Leisure Trust case study – Lighter and More Active
Alan was referred to the Up & Active Team six months ago via the Pendle Primary
Care Network health and wellbeing coach service.
read more...
From lifting weights to benefit menopause to paying closer attention to equipment for those with impairment – Burnley's new look knows no barriers
Burnley Leisure and Culture have recently upgraded even more facilities with both
St Peter’s and Padiham Leisure Centres newly refurbished gyms and cycling studios
re-opening recently.
read more...
Mytime Active and The Bromley Children and Families Voluntary Sector Forum join forces to Support Young Mums
Mytime Active is working in partnership with Bromley Children and Families
Voluntary Sector Forum (BCFF) to deliver twice-weekly free-swimming lessons for
young mums aged 15 - 24 and their babies.
read more...
Britain at the bottom of the class when it comes to school swimming
New research by GLL highlights the importance of children’s swimming lessons as
more primary schools reduce mandatory lessons.
read more...
|
Business partner news |
![](https://www.leisureopportunities.co.uk/communityleisureuk/images/darkblueline.png) |
![](https://www.leisureopportunities.co.uk/communityleisureuk/images/noline.gif) |
● | Charity Risk Focus
Welcome to the first edition of Charity Risk Focus — your update from
Gallagher’s Charities team, helping you stay ahead in today’s challenging
risk landscape.
...more
|
![](https://www.leisureopportunities.co.uk/communityleisureuk/images/noline.gif) |
![](https://www.leisureopportunities.co.uk/communityleisureuk/images/noline.gif) |
|
![](https://www.leisureopportunities.co.uk/communityleisureuk/images/noline.gif) |
Regional Meetings |
![](https://www.leisureopportunities.co.uk/communityleisureuk/images/lightblueline.png) |
![](https://www.leisureopportunities.co.uk/communityleisureuk/images/noline.gif) |
South West Regional Meeting
12 July 2024
|
Special Interest Groups |
![](https://www.leisureopportunities.co.uk/communityleisureuk/images/lightblueline.png) |
![](https://www.leisureopportunities.co.uk/communityleisureuk/images/noline.gif) |
i-Trent
8 July 2024
|
Health Learning Session (England)
9 July 2024
|
Health Scotland
10 July 2024
|
Carbon Literacy
11 July 2024
|
Social Value
16 July 2024
|
Safeguarding
18 July 2024
|
For more information about Special Interest Group and regional / national members meetings, please contact [email protected]
|
Job vacancies |
![](https://www.leisureopportunities.co.uk/communityleisureuk/images/lightblueline.png) |
![](https://www.leisureopportunities.co.uk/communityleisureuk/images/noline.gif) |
General Manager
Salary: £36,000 - £40,000pa + benefits
Location: Landore, Swansea, UK
Company: Tennis Swansea 365
Read more and apply
|
Sports Facility Manager - LSBU Active
Salary: £31,396 to £34,557, inclusive of £4,952 London Weighting
Location: London, UK
Company: London South Bank University
Read more and apply
|
Head of Operations
Salary: £56,107.80 - £63,165.86pa + benefits
Location: Dunfermline, UK
Company: Fife Sports and Leisure Trust Ltd
Read more and apply
|
Senior Leisure Officer
Salary: £41,418 - £48,474pa + local govt pension + benefits
Location: Honiton, UK
Company: East Devon District Council
Read more and apply
|
|