The pandemic has changed the way the world views fitness and health. Wellness now refers to much more than just physical health; it also entails sound mental health and a stress-free life.
Over the past two years, people have come to learn the importance of staying fit and well. With the stay-at-home lifestyle becoming the new normal, many are looking for ways to keep themselves active.
Health and fitness, therefore, are growing at an unprecedented rate and are projected to keep doing so for at least the next two years. Here are some facts that paint a clearer picture of the future of this industry.
1. Tremendous growth
Research by the Global Wellness Institute (GWI) reveals the health and wellness industry is valued at an astounding US$4.5 trillion (RM20 trillion), and continues to grow at a rapid rate.
2. The Asian impact
The same report says the Asia-Pacific wellness market is set to overtake the present largest market, the United States, by next year.
The mind-over-physical-health movement is the top factor in the growth of the fitness market in the region, according to GWI.
3. Digital health
The worldwide digital-health market is looking at a rise of approximately US$221 billion, or a 14.8% compound annual growth rate, by the year 2026, according to a report published in Globe Newswire.
This means more people are depending on their digital devices to ensure they remain fit and well, and to alert them of health issues.
4. Workplace wellness
As per the research by GWI, only 5.2% of the Asian workforce have access to wellness programmes organised by their workplaces, against the global standard of 9.8%.
This domain, however, is projected to grow at a healthy pace to reach at least US$66 billion by the end of this year.
5. Global growth
The global wellness market is growing at a steady pace of 5-10% every year, according to a report by McKinsey & Company.
This simply means more people are now focusing on leading an active and healthy lifestyle, and even preferring to pay higher premiums to achieve it.
Erika Peres is a social media influencer, entrepreneur and director of multiple companies. She is a mother of two boys and has a passion for sports, fitness and lifestyle. She can be reached on Instagram, LinkedIn and Facebook.