Trends of Wellness Market in 2021 and Beyond
The health and wellness industry has seen a dramatic surge in the last few years. Top corporate executives now promote several meditation and wellness programs in an effort to boost employees’ productivity and drive their companies’ growth.
Major hotel chains have rolled out wellness tourism brands in view of an enormous spike in demand. In addition to a slew of perks such as extended medical leave and healthcare facilities, employers offer corporate wellness programs as an approach to ensure their employees work in a healthy workplace. And this is achieved by incorporating different health activities in the work schedule daily to boost their employees’ wellbeing.
In general, people are spending more money on their health and welfare instead of clothing and traveling, as Covid-induced restrictions have curtailed their movement and social contact. Here are the highlights of some of the top trends that will shape the future of corporate wellness programs in 2021 and beyond.
1. Wellness Industry Projected to Grow by $1,300bn during 2021-22
A report shared by Corporate wellness Dubai (a wellness firm from UAE), reveals that the size of the health and wellness industry is poised to grow by nearly $1,300 billion with a CAGR of 6.37pc during 2021-22.
2. Entertainment Industries Set to Embrace Wellness
As per industry veterans, giant TV, music and tech companies are poised to step into wellness programs. Therefore, we are all likely to see more collaborations between the leading media conglomerates and the wellness world as well as all manner of wellness programs in 2021 and beyond, impacting billions of lives around the globe.
3. Creativity to Take on New Meaning
The coronavirus pandemic has brought in-person events to a screeching halt. But Covid-induced restrictions and lockdowns have forever changed the notion of meetings and events, especially wellness programs: fitness buffs set up indoor gyms and more online training programs were offered. In 2021 and beyond, with a ‘new normal’ in place, creativity and novel ideas in the wellness industry will take on an altogether different meaning.
4. People Likely to Get Savvier about Wellness Products
Perhaps in no time in history have people taken their health so seriously than in the pandemic, as they were advised to better take care of their immune system. This resulted in the acute dearth of vitamin supplements and their skyrocketing prices. Years 2021 and 2022 will see an increasing focus on things like diet, metabolic health, and the microbiome, among others. Therefore, people are expected to be wiser about wellness products that claim to make the immune system more effective and go for a more rounded approach.
5. Remote Wellness to Be the New Norm
Covid-19 pandemic has upended life in more ways than one, with remote work becoming the ‘new normal’ for a number of people, including wellness professionals. Remote meetings, one-on-one sessions, and pre-packaged wellness programs will become more common in 2021 and beyond.
6. Meditation apps segment set to rack up US $5,000m
One of the exciting figures for meditation app is the revenue. According to Statista reports, the revenue of meditation apps is likely to show a yearly growth rate of 18.61pc, resulting in an expected market volume of nearly US $9,920m by 2022.