What: McKinsey’s survey on opportunities in the wellness market.

Why it is important: The wellness sector is seeing growth, which gives retailers and businesses many opportunities to capture the market share.

Consumers are starting to view wellness through a broader and more sophisticated lens, encompassing not just fitness and nutrition, but also overall physical and mental health and appearance. Consumer interest is continuing to grow with 79% of respondents of a McKinsey survey revealing that they believe wellness is important and 42% considering it a top priority.

The global wellness market is estimated to be worth more than USD 1.5 trillion with annual growth of 5% to 10%. A rise in consumer interest and purchasing power presents tremendous opportunities for companies.

Some of the trends in the wellness market are using more natural products, increasing personalization, using digital channels, promoting through influencers, offering more services and experiences, and extending categories into new lines.

The future of the USD 15 trillion wellness market