McKinsey – Wellness market trends, 2024

McKinsey's latest Future of Wellness research focuses on the trends shaping the consumer wellness market. The research, which surveyed consumers in China, the United Kingdom, and the United States, reveals that consumers are increasingly looking for science-backed wellness solutions. In the United States alone, the wellness market is estimated to be worth $480 billion and is growing at a rate of 5 to 10 percent per year. Gen Z and millennial consumers are particularly interested in wellness products and services across various areas such as health, sleep, nutrition, fitness, appearance, and mindfulness. The research identifies five trends that will shape the consumer health and wellness space in 2024. The first trend is "Health at home," which has been accelerated by the COVID-19 pandemic. Consumers are now showing interest in at-home testing kits, with 26 percent of US consumers interested in testing for vitamin and mineral deficiencies. Overall, consumer expectations are driven by a desire for effective and data-driven wellness solutions. This research highlights the potential for innovation and investment in areas such as women's health, weight management, and in-person fitness.