{"id":20275,"date":"2020-11-07T16:45:20","date_gmt":"2020-11-07T21:45:20","guid":{"rendered":"https:\/\/globalwellnessinstitute.org\/?page_id=20275"},"modified":"2024-12-10T16:26:10","modified_gmt":"2024-12-10T21:26:10","slug":"gwi-finds-mental-wellness-is-a-121-billion-market","status":"publish","type":"page","link":"https:\/\/globalwellnessinstitute.org\/press-room\/press-releases\/gwi-finds-mental-wellness-is-a-121-billion-market\/","title":{"rendered":"GWI Finds Mental Wellness Is a $121 Billion Market"},"content":{"rendered":"

Media Contact: Beth McGroarty
\nbeth.mcgroarty@globalwellnessinstitute.org<\/a>\u00a0\u2022 +1.213.300.0107<\/p>\n

Global Wellness Institute Finds Mental Wellness Is a $121 Billion Market <\/strong><\/h3>\n

First research report to define, analyze and size the global mental wellness economy identifies and measures the four sub-markets: 1) senses, spaces and sleep ($49.5 billion), 2) brain-boosting nutraceuticals & botanicals ($34.8 billion), 3) self-improvement ($33.6 billion), and 4) meditation and mindfulness ($2.9 billion) <\/em><\/p>\n

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Palm Beach, FL \u2013 November 9, 2020 <\/strong>\u2013 The Global Wellness Institute (GWI) today released its major research report for 2020: \u201cDefining the Mental Wellness Economy.\u201d It\u2019s the first study to define mental wellness as opposed to mental health and to clarify the key concepts and pathways. It\u2019s also the first research to measure mental wellness as a global industry and to identify and benchmark its key sub-segments.<\/p>\n

The in-depth (115-page) report finds that the global mental wellness economy is worth $120.8 billion, based on consumer spend in four markets: senses, spaces and sleep ($49.5 billion), brain-boosting nutraceuticals & botanicals ($34.8 billion), self-improvement ($33.6 billion), and meditation and mindfulness ($2.9 billion). Mental wellness becomes a new \u201cindustry bubble\u201d in the GWI\u2019s Global Wellness Economy framework<\/a>, capturing a crucial set of economic activities not previously included in the organization\u2019s wellness economy measurements.<\/p>\n

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\u201cStress, loneliness and burnout were exploding pre-pandemic, and a stronger focus on mental wellness has been a cultural mega-shift these last few years: People awakening to the importance of integrative solutions including meditation, sleep and brain health, with businesses rushing in to offer all kinds of solutions. But mental wellness as a concept, and what constitutes it as an industry, has remained incredibly fuzzy,\u201d said Ophelia Yeung, GWI senior research fellow. \u201cClarifying what it is<\/em>, and delineating its business segments, is overdue. And while most mental wellness strategies are free\u2013like spending time in nature or with friends\u2013people increasingly seek non-clinical help in coping with everyday mental challenges, and that\u2019s where the mental wellness industry comes in.\u201d<\/p>\n

Katherine Johnston, GWI senior research fellow, added: \u201cThere is urgency to this research: Study after study shows how the human suffering and economic dislocations caused by the pandemic have ravaged our mental wellbeing. We\u2019re excited to release this study because people are desperate for alternative strategies to cope, and we hope it clarifies how important it is to promote mental wellness\u2013and how businesses, governments and individuals can all play different roles in addressing a growing crisis.”<\/p>\n

Defining Mental Wellness vs. Mental Health<\/strong><\/p>\n

The GWI defines mental wellness as \u201can internal resource that helps us think, feel, connect, and function. It is an active process that helps us to build resilience, grow, and flourish.\u201d<\/p>\n

The report provides a comprehensive paradigm for understanding the difference between \u201cmental health\u201d and \u201cmental wellness,\u201d impossible to replicate here. The authors propose a \u201cdual continuum model,\u201d in which mental wellness is a dynamic process of moving from languishing, to resilience, to flourishing. Key strategies for mental wellness fall into four pathways: activity and creativity; growth and nourishment; rest and rejuvenation; and connection and meaning.<\/p>\n

The Mental Wellness Industry: What\u2019s Included & Why <\/strong><\/p>\n

The research is the first to define the mental wellness industry: \u201cEncompassing businesses whose primary aim is to help us along the mental wellness pathways of growth and nourishment and rest and rejuvenation.\u201d Within those pathways, it identifies four sectors coalescing to form an emerging market: 1) senses, spaces and sleep, 2) brain-boosting nutraceuticals & botanicals, 3) self-improvement and 4) meditation and mindfulness.<\/p>\n

The report carefully explains what\u2019s included in the mental wellness industry, what\u2019s not, and why. The four segments were chosen because they\u2019re the ones most closely identified by consumers and businesses as explicitly associated with mental wellness. It doesn\u2019t include solutions that may be very beneficial for mental wellness but whose primary purpose is something else (e.g., fitness, healthy foods, arts and literature, pets), or anything in the medical arena (e.g., psychotherapy or sleep labs).<\/p>\n

The Mental Wellness Economy: <\/strong><\/p>\n

Senses, spaces, & sleep\u2013$49.5 billion<\/strong><\/p>\n

The largest mental wellness sector, this category spans products, services, and design that target our senses and the mind-body connection, with the growing understanding that environmental stimuli have a major impact on our mood, stress levels and sleep. Sleep is the goliath sub-segment, with an exploding array of sleep- and sleep-environment-optimizing solutions, including smart bedding and sleep accessories; sleep apps, wearables and trackers; and sleep retreats and nap caf\u00e9s.<\/p>\n

The segment includes sound (sound therapy, white noise, noise cancellation and wellness music); scent (aromatherapy, home fragrances and diffusers); touch (stress toys and gadgets and weighted blankets); and light (human-centric light and light therapy consumer devices). It includes multisensory experiences (from flotation tanks to forest bathing) at wellness travel, spa, fitness and entertainment destinations and sensory-based design and architecture (i.e., biophilic design and circadian lighting).<\/p>\n

Brain-boosting nutraceuticals & botanicals<\/strong>\u2013$34.8 billion<\/strong><\/p>\n

Ingestible products with the specific goal of improving mental health and wellbeing, including natural supplements, herbals and botanicals, and functional foods and beverages, are proliferating\u2013claiming to boost brain health, sleep, memory and energy.<\/p>\n

The category also includes plant-based drugs increasingly used for mental wellness, with the legal cannabis and its derivatives market exploding in the last couple years, with cannabis, hemp, and CBD making their way into many supplements, foods, and beverages. The segment also includes psilocybin and other functional mushrooms, with the former seeing a rapid acceleration in clinical research for use for almost every mental health and wellness issue. A quickening relaxation of regulation means plant-based psychedelic drugs will increasingly be used for both mental wellness and clinical treatment purposes. For instance, in the US last week, Oregon legalized magic mushrooms and the District of Columbia decriminalized the recreational use of psilocybin and other psychedelics.<\/p>\n

Self-Improvement<\/strong>\u2013$33.6 billion<\/strong><\/p>\n

This segment spans a wide range of activities typically associated with self-help and personal development, including self-help books, media, video, apps and online platforms; self-help gurus and influencers; personal and life coaches; organizations delivering classes, workshops and retreats; self-help organizations and mutual support groups; cognitive enhancement and brain training products\/services; and new, creative organizations, apps and online platforms combatting loneliness and isolation.<\/p>\n

Meditation & mindfulness\u2013\u00a0$2.9 billion <\/strong><\/p>\n

While meditation and mindfulness are perhaps the approaches most firmly associated with \u201cmental wellness,\u201d it\u2019s the smallest (if an extremely fast-growing) market, because while millions of people worldwide practice meditation, only a small fraction spend money on it.<\/p>\n

The category includes all forms of meditation practice, related mindfulness practices (e.g., breathwork, guided imagery, body scan, relaxation exercises), and products and services that support these practices. Key spending categories include classes, teachers, retreats, books and online platforms\u2013with mobile apps (such as Calm, Headspace, Insight Timer) a huge driver of consumer adoption and spend. There is a growing market for meditation accessories (e.g., cushions, beads, chimes) and mindfulness products (e.g., journals, coloring books), as well as a fast-growing range of connected gadgets, trackers and monitors to support meditation (e.g., headbands, glasses, wearable sensors, lamps) \u2013 many of which build upon biofeedback, neurofeedback, and virtual reality technologies.<\/p>\n

The analysis of each of these four markets includes historical background and the modern evolution of the space, the key companies and market innovators, and business models and developments to watch.<\/p>\n

The full report is available to in-person and virtual 2020 Global Wellness Summit delegates; Virtual access (including access to all conference keynotes and panels) can be purchased anytime<\/a>.<\/p>\n

Media may request the report\u2019s executive summary. Contact Beth McGroarty: beth.mcgroarty@globalwellnesssummit.com<\/a><\/p>\n

About the Global Wellness Institute<\/strong>: The\u00a0Global Wellness Institute<\/a>\u00a0(GWI), a nonprofit 501(c)(3), is considered the leading global research and educational resource for the global wellness industry\u00a0and is known for introducing major industry initiatives and regional events that bring together leaders to chart the future. GWI positively impacts global health and wellness by educating public institutions, businesses and individuals on how they can work to prevent disease, reduce stress, and enhance the overall quality of life. Its mission is to empower wellness worldwide.<\/p>\n

 <\/p>\n

 <\/p>\n ","protected":false},"excerpt":{"rendered":"

Media Contact: Beth McGroarty beth.mcgroarty@globalwellnessinstitute.org\u00a0\u2022 +1.213.300.0107 Global Wellness Institute Finds Mental Wellness Is a $121 Billion Market First research report to define, analyze and size the global mental wellness economy identifies and measures the four sub-markets: 1) senses, spaces and sleep ($49.5 billion), 2) brain-boosting nutraceuticals & botanicals ($34.8 billion), 3) self-improvement ($33.6 billion), and 4) meditation and mindfulness ($2.9 billion) Palm Beach, FL \u2013… 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