The growth within the wellness space has been remarkable in recent years. Here are a few statistics to showcase this trend.
1. Market Size: The global wellness economy was valued at $4.2 trillion in 2017, and it is estimated to reach $6.8 trillion by 2024, growing at a compound annual growth rate (CAGR) of 5.9% from 2019 to 2024.
2. Wellness Tourism: Wellness tourism is one of the fastest-growing sectors within the wellness industry. It grew from a $563 billion market in 2015 to $639 billion in 2017, representing a 6.5% annual growth.
3. Fitness & Mindfulness Apps: The global fitness app market size was valued at $3.15 billion in 2019 and is projected to reach $15.96 billion by 2026, with a CAGR of 23.2% from 2020 to 2026. Similarly, mindfulness and meditation apps saw a 98% increase in revenue from 2019 to 2020.
4. Corporate Wellness: The corporate wellness market is also experiencing significant growth. It was valued at $53 billion in 2018 and is projected to reach $66 billion by 2026, growing at a CAGR of 2.9% from 2019 to 2026.
5. Mental Health: Mental health awareness has driven the growth of digital mental health solutions. The global digital mental health market size was valued at $1.25 billion in 2020 and is estimated to reach $7.94 billion by 2027, growing at a CAGR of 26.1% from 2020 to 2027.
6. Wellness Supplements: The wellness supplement market is witnessing substantial growth. It was valued at $96.4 billion in 2019 and is projected to reach $131.3 billion by 2023, with a CAGR of 6.9% from 2018 to 2023.
7. Wellness Coaching: The global wellness coaching market size was estimated at $2.85 billion in 2020 and is expected to grow at a CAGR of 5.2% from 2021 to 2028. The rising demand for personalised wellness guidance and support is fueling this growth.
These statistics illustrate the rapid growth and increasing importance of the wellness industry as more individuals prioritise their physical and mental well-being.
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