For me, the most prevalent theme of day 1 at GWS was the connection between beauty and wellness. This 999 billion dollar industry is a huge sector of our industry and I believe beauty is still the driving force and motivation, behind so much of the spending in the entire wellness industry overall. Beauty has become almost a ‘dirty word’ in the wellness industry in recent years with connotations of superficiality and narcissism. At times, beauty is seen as only skin deep. We all want to promote ‘beauty from within’ and feelings of wellness.
We cannot deny the fact that we are hard wired to recognize beauty in nature, in sound and all around us. Surely it can only be a good thing to see and feel beauty when we look in the mirror. By embracing beauty and acknowledging we are part of this industry along with all other aspects of wellness, we can work together to encourage a healthy view of beauty, body image and aging.
Skincare companies gathered together in a session to develop ‘The Intersection of Beauty and Wellness: Understanding the Emotional, Physical, Psychological and Social Relationship between Beauty, Health and Wellness.’
We also heard from Katherine Johnston and Ophelia Yeung, who allowed us a sneak preview of the most recent industry research which they effectively demonstrated with a visual representation of blow up balls. A lighthearted, interesting session highlighting some pretty serious numbers:
Global Wellness Economy is worth US$3.7 Trillion
• Beauty and Anti-Aging: $999 billion
• Healthy Eating, Nutrition & Weight Loss: $647.8 billion
• Wellness Tourism: $563.2 billion
• Fitness & Mind-Body: $542 billion
• Preventative & Personalized Medicine & Public Health: $534.3 billion
• Complementary & Alternative Medicine: $199 billion
• Wellness Lifestyle Real Estate: $118.6 billion
• Spa Industry: $98.6 billion
• Thermal/Mineral Springs Facilities: $51 billion
• Workplace Wellness: $43.3 billion
Johnston and Yeung advised that, from 2013 to 2015, the global economy shrank by 2 per cent. However, in this same time, the global wellness economy grew by over 10 per cent. This is due to the growth in the middle classes who have more disposable income and can dedicate to their lifestyle. The increase in chronic disease and aging populations also means more spending on healthier lifestyles and disease prevention.