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Wellness in 2030: McKinsey predicts hot future wellness trends
By Megan Whitby 04 Jan 2022
Wearables and tech are pitted to be major driving forces in the future evolution of the wellness market Credit: Shutterstock/muse studio
COVID-19 is accelerating interest in wellness as more consumers have been faced with the importance of taking care of their health and wellbeing.

As a result, the market’s abuzz with growth as more businesses look to satisfy new demand with innovative solutions.

Data is showing that people are increasing their spending on wellness and a recent report published by the Global Wellness Institute forecasts the global wellness economy will reach nearly US$7trn in value by 2025.

Recent predictions from McKinsey suggest the future of wellness will be tech-heavy, personalised, interconnected and dominated by the following six wellness categories:

Health
According to Mckinsey associate partner Anna Pione, the future of wellness will see consumers take their health into their own hands. She envisages “offerings that let consumers triage their own medical issues” becoming increasingly more mainstream. As part of this, Pione believes devices and technology from the doctor’s office will be integrated into the home.

Fitness
Bricks and mortar fitness businesses are here to stay, predicts Eric Falardeau, partner in McKinsey’s Montréal office. He also anticipates that the future of fitness will feature an increasing amount of technology to help people track their fitness progress.

Nutrition
Consumer habits and relationships with food are shifting, as more people are becoming more aware of the impact of our diet on our short-term and long-term health. Jessica Moulton, senior partner at McKinsey’s London outpost, thinks the reduction in sugar and an increase in sustainable eating will be two major trends going forward.

Appearance
Emma Spagnuolo, a partner in McKinsey’s New Jersey office, anticipates that beauty retailers will expand their offering to keep up with new consumer demands and that procedures like injectable services or clinical treatments will become more commonplace and easier to access.

Sleep
Sleep technology will continue to be a hot wellness trend in 2030, according to Scott Hayton, associate McKinsey partner in Toronto. In his opinion, future innovation in the field could lead to sleep performance data being used to inform and best optimise our routines and daily capabilities, such as diet and exercise.

Mindfulness
“I believe that mindfulness – and the pursuit of mindfulness – will become an essential aspect of how we live our lives,” says Manish Chopra, senior partner in McKinsey’s New York office. He feels that by 2030, mindfulness will be more deeply ingrained into people’s routines via wearables and tech, allowing for digital yoga or meditation sessions throughout the day.

McKinsey analysts reminded wellness businesses that in order to keep up in the next generation of the wellness market and make lasting change, they need to nail down their e-commerce and marketing strategies, pursue data partnerships, reinvigorate the shopping experience, update their value propositions and consider consumers as a whole person.

A previous 2021 McKinsey report also advised both new and existing companies in the sector to think critically about strategies to engage consumers and continue to innovate to stand out from the crowd.


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Les Mills International
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NEWS
Wellness in 2030: McKinsey predicts hot future wellness trends
POSTED 04 Jan 2022 . BY Megan Whitby
Wearables and tech are pitted to be major driving forces in the future evolution of the wellness market Credit: Shutterstock/muse studio
COVID-19 is accelerating interest in wellness as more consumers have been faced with the importance of taking care of their health and wellbeing.

As a result, the market’s abuzz with growth as more businesses look to satisfy new demand with innovative solutions.

Data is showing that people are increasing their spending on wellness and a recent report published by the Global Wellness Institute forecasts the global wellness economy will reach nearly US$7trn in value by 2025.

Recent predictions from McKinsey suggest the future of wellness will be tech-heavy, personalised, interconnected and dominated by the following six wellness categories:

Health
According to Mckinsey associate partner Anna Pione, the future of wellness will see consumers take their health into their own hands. She envisages “offerings that let consumers triage their own medical issues” becoming increasingly more mainstream. As part of this, Pione believes devices and technology from the doctor’s office will be integrated into the home.

Fitness
Bricks and mortar fitness businesses are here to stay, predicts Eric Falardeau, partner in McKinsey’s Montréal office. He also anticipates that the future of fitness will feature an increasing amount of technology to help people track their fitness progress.

Nutrition
Consumer habits and relationships with food are shifting, as more people are becoming more aware of the impact of our diet on our short-term and long-term health. Jessica Moulton, senior partner at McKinsey’s London outpost, thinks the reduction in sugar and an increase in sustainable eating will be two major trends going forward.

Appearance
Emma Spagnuolo, a partner in McKinsey’s New Jersey office, anticipates that beauty retailers will expand their offering to keep up with new consumer demands and that procedures like injectable services or clinical treatments will become more commonplace and easier to access.

Sleep
Sleep technology will continue to be a hot wellness trend in 2030, according to Scott Hayton, associate McKinsey partner in Toronto. In his opinion, future innovation in the field could lead to sleep performance data being used to inform and best optimise our routines and daily capabilities, such as diet and exercise.

Mindfulness
“I believe that mindfulness – and the pursuit of mindfulness – will become an essential aspect of how we live our lives,” says Manish Chopra, senior partner in McKinsey’s New York office. He feels that by 2030, mindfulness will be more deeply ingrained into people’s routines via wearables and tech, allowing for digital yoga or meditation sessions throughout the day.

McKinsey analysts reminded wellness businesses that in order to keep up in the next generation of the wellness market and make lasting change, they need to nail down their e-commerce and marketing strategies, pursue data partnerships, reinvigorate the shopping experience, update their value propositions and consider consumers as a whole person.

A previous 2021 McKinsey report also advised both new and existing companies in the sector to think critically about strategies to engage consumers and continue to innovate to stand out from the crowd.
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Hospitality giant Accor and Japan-based real estate company Nomura Real Estate Development have unveiled plans to open a Fairmont property in Tokyo in 2025.
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International spa and wellness design firm Studio Apostoli is realising a new private members’ spa in New York’s verdant Hudson Valley.
GWI spotlights country-specific wellness economy data with new Geography of Wellness microsite
The Global Wellness Institute (GWI) has launched the Geography of Wellness microsite to showcase different countries’ wellness economies.
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Four Seasons has opened the doors to a brand new luxury hotel spa in downtown New Orleans, within its Four Seasons Hotel New Orleans.
Gurney’s Montauk announces completion of US$20m spa renovation
Gurney’s Montauk Resort in Long Island, US, has relaunched its Seawater Spa following a US$20m top-to-toe refresh focused on holistic wellness, innovation and sustainability.
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Mandarin Oriental Hotel Group (MOHG) is fearing up to open a brand new property in London’s upmarket area of Mayfair in Q4 of 2022.
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