The Global Wellness Economy Reaches a Record $5.6 Trillion--And It's Forecast to Hit $8.5 Trillion by 2027
MIAMI, Nov. 7, 2023 /PRNewswire-PRWeb/ -- How has the global wellness economy fared since the massive economic shocks of the pandemic? According to a new report released today by the non-profit Global Wellness Institute (GWI)—the only authoritative, comprehensive source of wellness market data—the industry has made one powerful recovery. If the market was worth a record $4.9 trillion in 2019, and then shrank 11% to $4.4 trillion in the pandemic year of 2020, the research indicates that the wellness economy has seen recent, economy-defying momentum. It grew 27% since 2020 to reach $5.6 trillion, with 7 of the 11 wellness sectors now surpassing their 2019, pre-pandemic values. With consumers, the medical world, and governments now placing a much bigger value on prevention and wellness, the GWI forecasts that the wellness economy will grow at an impressive 8.6% annual pace through 2027, when the market will reach $8.5 trillion—nearly double its 2020 size.
- With strong tailwinds, it's forecast to grow another 52% by 2027
MIAMI, Nov. 7, 2023 /PRNewswire-PRWeb/ -- How has the global wellness economy fared since the massive economic shocks of the pandemic? - It grew 27% since 2020 to reach $5.6 trillion, with 7 of the 11 wellness sectors now surpassing their 2019, pre-pandemic values.
- Looking into the horizon, the global wellness economy has a strong current under its wings, based on global trends that are only accelerating
"We are surprised by the resiliency of the global wellness economy, and how quickly it has bounced back from the pandemic. - The GWI has announced it will now release a Global Wellness Economy Report annually, at each Global Wellness Summit .