New data from the Global Wellness Institute (GWI) shows that the value of the global wellness industry has risen to $4.5 trillion (£3.5 trillion).
The study – Move To Be Well: The Global Economy of Physical Activity – is a world first, as it encompasses the entire physical activity market. It reports on the worth of six sectors, which accounts for why the figure for wellness has jumped so significantly.
Fitness – $109bn (£84.6bn)
Sports and active recreation – $230bn (£178bn)
Mindful movement – $29bn (£22.5bn)
Apparel and footwear – $333bn (£258bn)
Equipment and supplies – $109bn (£84.5bn)
Fitness technology – $26bn (£20bn).
The report predicts that Asia-Pacific will overtake North America as the largest wellness market, accounting for 40 per cent of all global growth until 2023.
Mindful movement, which includes yoga, tai chi and Pilates is the fastest-growing sector at 12.4% annually.
Ophelia Yeung, GWI senior researcher and report co-author, says: “This new global data stream is meant to encourage business leaders and policymakers to see physical activity as a comprehensive sector, one that’s critical in supporting lifestyles that are crucial to good health.”
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