Who isn’t trying to get more out of their body? More stamina? More sleep? More productivity? No wonder the global wellness market is now valued at a staggering $1.8 trillion USD. And the sector only continues to grow with transformations driven by evolving consumer preferences, emerging technology and an increased focus on holistic well-being.

Encompassing a diverse range of spaces, including nutrition, mental health, beauty and personalized healthcare, the wellness landscape has five key trends shaping its current trajectory, according to a global McKinsey report, released this month and entitled “Future of Wellness.”

Today’s consumer, as most brands have caught on, is increasingly informed. They’re looking for scientific validation for wellness claims and products before jumping in. After having surveyed over 5,000 consumers in the U.S., U.K. and China about current trends in this sector, the study identifies areas that are ready for more innovation and investment (women’s health, for example).

In the United States, the demand for wellness products and services is growing at a steady rate of 5% to 10% annually, with 82% of consumers prioritizing it in their day-to-day lives. Paying attention to wellness is particularly gaining traction among Gen Z and millennial consumers, who are driving increased purchases.

At-home health

According to McKinsey’s research, the first trend highlights the growing interest in taking care of health issues at home with at-home testing kits (thanks to COVID) becoming the norm. Consumers express interest in testing for various health indicators, including vitamin deficiencies and cholesterol levels. The convenience and rapid results have revolutionized the experience. Regardless of the growing interest, however, some barriers to adoption include a preference for in-person doctor visits and concerns about test accuracy.

Wearable biomonitoring

This year will see a growing focus on more innovation in biomonitoring wearables, with roughly half of surveyed consumers having purchased fitness wearables. New tech, including biometric rings and continuous glucose monitors, offer insights into sleep quality and blood sugar levels, presenting an opportunity for companies to explore partnerships in nutrition, weight management, and mindfulness. Data privacy, however, remains a critical consideration for businesses and brands in this space.

Personalizing generative AI

While preferences for personalized wellness products have slightly decreased, technological advancements provide new opportunities for customization. Wearables and apps are already using generative AI to design personalized workouts based on users’ fitness data. Roughly 20% of consumers in the United Kingdom and 30% in China, for example, are interested in acquiring products and services that use biometric data to generate and offer tailored recommendations.

Clinically-proven above all else

There has been a noticeable shift in consumer preferences toward products with clinically-proven ingredients as opposed to primarily natural ones. Around half of the surveyed consumers prioritize clinical effectiveness, especially in categories like over-the-counter medications and vitamins. Companies may need to start adjusting product formulations and the type of marketing strategies they use in order to meet this demand.

Avoiding “healthwashing”

The last trend in Mckinsey’s report highlights the rise of a physician’s guidance as the only expert guidance in response to the growth of influencer marketing in the wellness industry. Healthcare provider recommendations are gaining back the credibility of the past as consumers look for information they can truly trust and avoid “healthwashing” (deceptive marketing that says a product is healthier than it is). In the United States, doctor recommendations rank third in influencing health and wellness purchase decisions, especially when it comes to mindfulness, sleep and overall health.

For businesses and brands, these trends present various implications. Companies entering the at-home diagnostic market should focus on pricing, consumer feedback and helping them understand test results. In the wearables sector, there is an opportunity to fill gaps in areas such as nutrition, weight management and mindfulness, while ensuring data privacy. Incorporating generative AI into tailored wellness offerings can create a growth proposition for tech-based health and wellness service providers. Brands should adapt to the consumer shift toward clinically proven products, emphasizing existing portfolios or reconsidering product formulations and strategies. Lastly, companies should recognize the growing influence that physicians are gaining back and cater their messaging and messengers accordingly.

As the industry continues to evolve, it will be crucial to stay attuned to these trends, keeping up with innovation and adapting to the changing needs of a wellness-conscious world. The intersection of digital transformations, personalized wellness, and a holistic approach is paving the way for a future where well-being is not just a lifestyle choice but a fundamental aspect of human existence.