Flourish Health & Wellbeing Magazine May 25 - Flipbook - Page 47
Over the past year,
global consumer
spending on wellness
has continued to rise,
reaching a record
$6.3 trillion in 2023,
reflecting a 9% increase
from 2022. This growth
highlights a universal
commitment to
health and wellbeing,
even amid economic
pressures. However,
shifting financial
priorities and cost-ofliving challenges are
reshaping where and
how people invest in
their health.
What Are Consumers
Spending Their Wellness
Dollars On?
Health and wellness spending is evolving beyond
tradi琀椀onal gym memberships and organic foods. Today’s
consumers are seeking a holis琀椀c approach to wellbeing,
focusing on mental health, longevity, and preven琀椀ve care.
Key spending areas include:
• Mental Health & Stress Management – A growing
number of consumers are investing in therapy apps,
meditation subscriptions, and wellness retreats to cope
with stress and anxiety. The global mental wellness
industry is now valued at $170 billion.
• Fitness Technology & Wearables – Demand for
smartwatches, biometric trackers, and AI-driven fitness
coaching has surged, particularly in developed markets
like North America, Australia, and Europe.
• Personalised Nutrition & Supplements –
Consumers are shifting towards DNA-based diet
plans, gut microbiome testing, and personalised
supplement regimens.
• Longevity & Anti-Ageing Treatments – The rise of
biohacking, IV nutrient drips, and regenerative medicine
is drawing attention, with high-net-worth individuals
investing in cutting-edge anti-ageing interventions.
• Holistic & Alternative Therapies – Traditional Chinese
medicine, Ayurveda, and indigenous healing practices
are experiencing a resurgence, particularly in Asia,
South America, and Africa.
