Since the pandemic, people have been taking a more holistic approach to their well-being, not only emphasizing physical health and social interactions, but mental health as well, opening the way for those offering services and products to expand business opportunities, a report from Circana found.
Circana said it has found 55 ways consumers are tapping into products and services, across sectors, to harmonize various aspects of their lives, according to the report, Tapping into the Global Well-Being Opportunity.
“Beyond working to make sure wellness-focused products and services are accessible and affordable, successful businesses and services will identify their audience and connect with consumers,” said Sally Lyons Wyatt, global executive VP and chief adviser at Circana.
“Helping consumers become the best, healthiest versions of themselves is good for business.”
Among the report’s findings was that consumers are emphasizing their physical health through food choices, exercise and quality sleep, focusing on multifunctional products and clean ingredients, despite high prices. Consumer spending on digestive and oral health has increased, and demand is growing for energy-related products.
Circana asked consumers to rank the top products and services important to self-care. Nearly half agreed “improved physical health is the leading benefit of self-care,” followed by reduced stress and anxiety and weight management. They also are concerned about illness prevention and increasing energy.
“From North America to Asia Pacific, we see this in the popularity of products like sea moss gel, which is packed with micronutrients such as iodine, iron, fiber and prebiotics. This edible sea vegetable, from the algae family, is often taken by the spoonful or added to smoothies, and it is typically sold at upmarket retailers,” the report found.
Consumers became more aware of mental health issues and emotional well-being during the pandemic. As a result, spending on books focusing on self-care activities to reduce stress and anxiety, and improve sleep have been growing.
Sales of books about mental health rose 121% between 2020 and 2024, the report noted, and sales of books related to self-help were up 250%.
“Gen Zers and younger millennials are looking to products like weighted blankets, aromatherapy and toys to relieve stress at higher levels than older adults,” the report revealed.
Young adults are also pursuing modalities like autonomous sensory meridian response videos. Gen Z is also driving significant growth in home scents where there have been significant increases in use of candles, room sprays and linen sprays, Circana noted.
On the social well-being side, people have realized the importance of social and community engagement, and in-person events.
“The definition of health and wellness is continuously evolving,” Wyatt said.
