With an approximate market size of EUR 3.7 trillion and double-digit average growth since 2010, the health and wellness sector is currently one of the biggest and fastest growing sectors in the world.
But how did the health and fitness industry continue to be so enormously successful? Although multiple variables led to this.
The following four critical points:
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The rise in diseases - favored by a bad lifestyle
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Social media influence
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Increasingly health-conscious consumers
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A changed attitude towards health care
Read on to find out what social and commercial forces have contributed to the incredible growth of the health and fitness sector and why it has been able to continue to develop at a fast rate.
The rise in diseases – favored by a bad lifestyle
With the introduction of technology and automation in the workplace, people spend an average of their time at work and leisure. In comparison, many people are more distracted and prioritize comfort.
We may be a result of our climate, but the majority of users are much less physically involved between the time we spend with computers and Netflix. The lack of physical exercise, combined with unhealthful eating habits, which are mostly dominated by packaged foods, has some disastrous effects.
As a result, customers have opted to take matters into their own hands. Demand for healthy options has risen unprecedentedly. Quick food restaurants are being rejected; instead, restaurants come up with healthier alternatives.
Although customers are making their wellbeing a priority and are searching for healthier options, businesses are seeing this as an incentive to satisfy this need.
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Influence of social media
Health and wellbeing is a social media phenomenon. The #fitness hashtag has more than 300 million shares on Instagram alone. According to estimates, about 2.5 billion people today use social media sites.
- Instagram has over 1 billion active users
- 60% or Instagram users use the platform to discover new products
- 65% of Best Performing Posts on Instagram have a product included
Increasingly health-conscious consumers
The media has a direct impact on the overall diffusion of the health and fitness industry. The more content that is created on this topic, the more people internalize it. The more people internalize it, The better they get and the more products they consume.
A changed attitude towards health care
Traditionally, medical practitioners practice curative medicine- that is, they try to cure existing diseases. However, preventive health care has become increasingly popular.
The gym and fitness class market has never been more lucrative and popular than it is today, and a large part of that can be attributed to the shift from preventative health care.
An industry that lives from consumers
While there are many factors that have contributed to the boom in the health and fitness industry, the main focus remains on consumers: people’s behavior has changed dramatically, and consumer health now takes precedence over convenience.
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