We’ve been writing a fair amount about music’s intersection with the ‘wellness’ industry, from mindfulness apps like Calm and Headspace to fitness startups like Peloton.
Now there’s a new report that’s trying to quantify the global ‘mental wellness’ market. The topline: it could be worth $120.8bn, which breaks down into four categories: senses, spaces and sleep ($49.5bn); brain-boosting nutraceuticals and botanicals ($34.8bn); self improvement ($33.6bn) and meditation and mindfulness ($2.9bn).
This is according to the Global Wellness Institute (GWI), a non-profit organisation that tracks these industries. Its report also notes the massive investment happening in mental wellness companies and technology: $750m in 2019, and $1bn in the first half of 2020 alone.
Music Ally’s next Learn Live webinar will help you build the strategies for artists to thrive in new international markets!
Very well written blog, very informative on size of Wellness Industry