With the health and wellness industry still fairly young, it’s been an interesting ride for those who have been a part of it since infancy.
Sales have recently shown a 6.5 per cent value growth (fixed exchange rates) in 2011. Products specifying health benefits or those with widely known health properties drove value sales with rates above 7 per cent. The development in emerging markets, such as China and Brazil, has contributed US$15 billion in new sales that same year. Real term growth is expected to stay steady at 7.2 per cent, which will bring the global health and wellness sales to hit a record high of US$1 trillion by 2017.
With health awareness rising, it translates into substantial sales gains. According to a report from Euromonitor, “the Health and Wellness top 100 world ranking saw their sales rising by over US$100 million that year, a clear statement that combining four key factors: health, convenience, fashionable packaging and affordable price is the winning strategy behind some of the most spectacular health and wellness developments.”
They are also predicting that pharmaceutical companies will soon start grabbing attention: “Whilst the movement towards prevention grows, convergence of nutrition and ‘pharma’ is starting to attract attention of the big pharmaceutical players with substantial investments likely to follow.”
The health and wellness industry has been developing over the last few years and has been gaining momentum as people start to take notice. With Euromonitor’s recent research, it’s clear that this is the industry to be in!
