Meditation apps, important oils, crystals & self-help books: sustainability-focused city millennials are interested by extra than simply dietary supplements—they’re amassing a non secular wellness toolbox
Wellness is not nearly dietary supplements and crimson gentle remedy; it now encompasses psychological and emotional stability, in addition to non secular merchandise—a class poised for vital development, with a projected $9.6 billion valuation by 2034.
In response to a brand new report from Transparency Market Analysis, the figures present the momentum behind the worldwide non secular and wellness merchandise market, formed by a number of traits and main business gamers.
To start, the rising international embrace of psychological and emotional well-being has remodeled historic practices like meditation and yoga into mainstream habits—a shift that has fueled demand for merchandise reminiscent of yoga mats, meditation cushions, meditation apps and aromatherapy objects. There may be additionally a rising consciousness of different practices, reminiscent of Ayurveda, Reiki and Conventional Chinese language Drugs, which have captured the curiosity of shoppers.
Though the non secular and wellness world usually emphasizes internal connection and disconnection from distractions, Transparency Market Analysis notes that know-how has performed a major position in its evolution, citing improvements like AI-powered meditation apps and wearables that monitor emotional well being. Such instruments have made it simpler for shoppers to discover new segments of this rising market whereas additionally creating new channels for market enlargement, in keeping with the report.
By way of tangible merchandise, there’s additionally a sustainability element, as shoppers—maybe feeling a bit extra enlightened—are more and more searching for ethically sourced and eco-friendly merchandise. Having environmentally-friendly elements or packaging can repay for manufacturers, as Deloitte not too long ago shared that 63% of millennials are prepared to pay extra to buy environmentally sustainable merchandise.
As for what’s trending within the non secular and wellness product section, the report finds mindfulness and meditation aids have gained traction, primarily with city millennials and professionals. Therapeutic crystals and stones additionally present promise, elevated by social media influencers and health pioneer Tracy Anderson, in addition to important oils and candles. Lastly, non secular self-help books, on-line programs, and podcasts are additionally in demand from wellness-seeking shoppers.
Among the many present market leaders within the non secular and wellness house highlighted within the report are aromatherapy model doTERRA, activewear big Lululemon, yoga and meditation accent model Gaiam Inc., plant-based wellness model Saje Pure Wellness, Herbivore Botanicals and digital wellness platform Mindvalley.
The report additionally highlights that, along with on-line platforms and specialty shops, mass retailers have embraced wellness merchandise, reflecting their rising mainstream enchantment. This month, Goal expanded its dedication to wellness (and doubled down on its 2023 plans) by including over 2,000 merchandise throughout numerous classes, a lot of that are unique to the retailer.
Transparency Market Analysis’s report on non secular and wellness merchandise could be discovered right here.
