The Global Wellness Economy Hits New Heights: A $6.3 Trillion Industry Poised to Reach $9 Trillion by 2028
The wellness industry is experiencing an extraordinary surge in growth, with new research from the Global Wellness Institute (GWI) highlighting its relentless momentum. At the 18th annual Global Wellness Summit in St Andrews, Scotland, the GWI unveiled groundbreaking insights that underscore the sector’s ever-expanding influence on the global economy.
Wellness Economy Reaches a New Peak
The wellness economy has officially reached a remarkable $6.3 trillion, surpassing its pre-pandemic value by 26%. This growth reflects the increasing importance of wellness in people’s lives and the economy at large. With this achievement, the wellness sector is now four times the size of the global pharmaceutical industry, valued at $1.6 trillion, and nearly 60% of the global consumer health expenditures, which stand at $10.6 trillion.
Projected Growth Through 2028
The future of wellness is not just bright—it’s booming. GWI forecasts an impressive annual growth rate of 7.3% for the wellness economy from 2023 to 2028. This rate is significantly higher than the 6.5% growth seen over the past decade and well above the anticipated global GDP growth rate of 4.8%. This shows that wellness isn’t just a trend—it’s a fundamental shift in how individuals are approaching their health and lifestyle.
Top Growing Sectors in the Wellness Economy
Among the various sectors driving this growth, a few stand out as leaders with extraordinary growth potential:
1. Wellness Real Estate (15.8% growth rate) – The wellness real estate market is seeing unprecedented expansion, reflecting the demand for spaces that promote well-being and holistic living. As more individuals seek to align their physical environments with their mental and physical health needs, this market is expected to nearly double by 2028.
2. Mental Wellness (12.2% growth rate) – Mental wellness is becoming a focal point for both individuals and businesses, spurred by growing awareness of mental health issues and their impact on overall well-being. This sector is projected to experience significant growth, reflecting an increasing demand for solutions like therapy, meditation, stress management, and mindfulness.
3. Wellness Tourism (10.2% growth rate) – As people continue to prioritise self-care, wellness tourism is on the rise. From spa resorts to nature retreats, the desire to combine travel with health-focused experiences is propelling this sector toward growth, offering a combination of relaxation and rejuvenation.
4. Thermal & Mineral Springs (9.2% growth rate) – Known for their healing properties, thermal and mineral springs are gaining popularity as consumers seek natural wellness solutions. This market is expected to continue growing, attracting wellness seekers looking for holistic healing and relaxation.
5. Healthy Eating, Nutrition & Weight Loss (6.4% growth rate) – Nutrition is a key pillar of wellness, and this sector’s growth reflects consumers’ increasing commitment to healthier eating habits and weight management. With a growing focus on organic, sustainable, and plant-based foods, this market will continue to thrive.
The Wellness Industry’s Expanding Impact
The incredible growth in the wellness economy is not only a reflection of people’s desire to live healthier lives but also an indication of the sector’s widespread influence across multiple industries. From the real estate sector to the travel industry, wellness is no longer a niche—it’s an integral part of daily life for millions of individuals worldwide.
This shift toward wellness is also having a profound impact on business strategies. Companies in sectors like hospitality, technology, and retail are increasingly incorporating wellness offerings into their products and services to meet the growing demand. Whether it’s wellness-focused hotels, wellness technology apps, or consumer products promoting healthy lifestyles, businesses are recognising the importance of aligning with the wellness movement.
Why This Matters to You
The massive expansion of the wellness economy presents exciting opportunities for individuals and businesses alike. As more people seek to prioritise their health, there is a growing need for wellness professionals, coaches, products, and services. This growth is not just a trend but a long-term shift toward a more holistic approach to health and well-being.
For entrepreneurs, the wellness industry offers a wealth of opportunities to tap into emerging markets. Whether you’re in the wellness real estate, mental wellness, or health-focused nutrition space, the projected growth rates present an exciting chance to establish or grow a business in a thriving sector.
For consumers, the wellness economy is reshaping how you approach self-care, health, and lifestyle. From better real estate options that cater to health-conscious living to enhanced mental wellness resources, there has never been a better time to embrace wellness as a central part of your life.
Conclusion
With an industry now valued at $6.3 trillion and set to reach $9 trillion by 2028, the wellness economy is on an unstoppable trajectory of growth. Whether you’re a consumer or an entrepreneur, this booming sector offers opportunities for health, transformation, and success. As we continue to prioritise well-being, the wellness economy will undoubtedly remain a key driver of personal and professional growth in the years to come.
Now is the time to invest in your wellness, your business, and your future—because the wellness revolution is just getting started.