How has the global wellness economy fared since the massive economic shocks of the pandemic? 

According to a new report released on 7th 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.

“We are surprised by the resiliency of the global wellness economy, and how quickly it has bounced back from the pandemic. It has exceeded our own expectations and forecasts,” said Katherine Johnston, GWI senior research fellow. “If the pandemic disrupted industry momentum in the short term, it has simultaneously created a dramatic shift in the long-term opportunities and trajectory for wellness.”

“The Global Wellness Economy 2023” is packed with insights: numbers and analysis for all 11 wellness sectors, regional data, the top-20 national markets for each wellness sector, while exploring the major shifts and trends that will impact each wellness market in the future.

The GWI has announced it will now release a Global Wellness Economy Report annually, at each Global Wellness Summit. Its “Country Rankings Report,” companion research providing market size, rankings, analysis, and per capita wellness spending for 150 nations, will be released on January 30, 2024.