Wellness and alternative healing are no longer perceived as a luxury for a few, but a necessity for all to navigate their way through unprecedented times post the global pandemic. The stress that comes from the demands of living in a modern fast-paced world, coupled with the extreme challenges due to the Covid-19 pandemic, has led to an increase in people prioritising their well-being.
When the world hit ‘pause’ due to a global lockdown, we all had to face repercussions that disrupted our normal way of life. With people continuing to battle with the fears of uncertainty, isolation, and anxiety, the crisis of mental and emotional health is the new pandemic that is emerging from the Covid-19 virus. Prioritising our mental and emotional health is essential for us to stay grounded and balanced in these chaotic times.
Whilst it is clear that we can’t really predict when and how this pandemic will end, even those in the deepest of slumbers are awakening to the fact that whilst we can’t control what’s going on around us, we still have the power to change what’s going on within us.
The wellness economy: Redefining our health
As people aspire to lead happier, healthier, and more productive lives, we are witnessing a change revolution that’s transforming the way we live, work and relate to one another. The focus on health and wellness is at the forefront of this change for us to remain at our optimum.
There is a sharp upward trend seen in people investing in their mental, emotional, and physical wellbeing. The rapid growth, popularity, and introduction of brands focusing on fitness, beauty and skincare, vegan foods, mental health, meditation, and yoga brands is a testament to this change in consumer behaviour.
It’s not just at the individual level. New approaches to wellness and alternative healing – through therapy, group counseling and government programs – are being carried out at an accelerated pace at the organisational and community levels. There are multiple business opportunities in the wellness sector, particularly in the high-income countries but also in the middle and lower-income countries.
The boom in the $4 trillion global wellness industry is ripe with entrepreneurial opportunities. It is paving the path for rapid innovation and the introduction of new products and services from existing brands and emerging brands with a massive focus on wellness. The Global Wellness Summit has identified broad emerging sectors in global mental wellness as: sensory and sleep products and services ($49.5bn); nutraceuticals and botanicals ($34.8bn); meditation and mindfulness ($2.9bn); self-improvement ($33.6bn).
Wellness business leaders expect the growth to be supported by endorsements not just from traditional sources such as doctors, psychologists, and healthcare practitioners, but also from evidence-based research studies on the benefits of meditation, mindfulness, and fitness as a means of preventive health. By sharing the science behind concepts such as the mind, energy & meditation, even the skeptics can relate to wellness practice as more than just jargon but as a means towards living a life of balance, clarity, and self-awareness, without feeling overwhelmed.
While the rules of the playbook for business have changed amid the global pandemic, wellness start-ups, and existing brands are being backed by investors in the form of securing large funding and billion-dollar valuations. Leaders and entrepreneurs who can identify the rapid changes in consumer behaviour and create future growth possibilities with their business models, products, and services will benefit most from the upcoming wellness economy.
One of the most heartening wellness trends is that in the early years, wellness entrepreneurs like us would have to spend a lot of time and investment on educating people to become aware of their mind, their emotions, their health, and their life choices. But today, especially post-pandemic, people are already aware and conscious of the importance of their well-being in order to remain resilient and optimistic and are seeking out services that can help them adopt self-care, health wellness practices to incorporate into their daily life.
Soniyaa Kiran Punjabi, founder of Illuminations Well-being.
by Staff Writer
More of this topic
Why alternative healing and wellness is booming worldwide: Post-pandemic trends for 2021
Soniyaa Kiran Punjabi, founder of Illuminations Well-being, hypnotherapist and holistic wellness coach, looks at the growing importance of alternative healing practices and their impact on the wellness business post pandemic
Soniyaa Kiran Punjabi, founder of Illuminations Well-being
Wellness and alternative healing are no longer perceived as a luxury for a few, but a necessity for all to navigate their way through unprecedented times post the global pandemic. The stress that comes from the demands of living in a modern fast-paced world, coupled with the extreme challenges due to the Covid-19 pandemic, has led to an increase in people prioritising their well-being.
When the world hit ‘pause’ due to a global lockdown, we all had to face repercussions that disrupted our normal way of life. With people continuing to battle with the fears of uncertainty, isolation, and anxiety, the crisis of mental and emotional health is the new pandemic that is emerging from the Covid-19 virus. Prioritising our mental and emotional health is essential for us to stay grounded and balanced in these chaotic times.
Whilst it is clear that we can’t really predict when and how this pandemic will end, even those in the deepest of slumbers are awakening to the fact that whilst we can’t control what’s going on around us, we still have the power to change what’s going on within us.
The wellness economy: Redefining our health
As people aspire to lead happier, healthier, and more productive lives, we are witnessing a change revolution that’s transforming the way we live, work and relate to one another. The focus on health and wellness is at the forefront of this change for us to remain at our optimum.
There is a sharp upward trend seen in people investing in their mental, emotional, and physical wellbeing. The rapid growth, popularity, and introduction of brands focusing on fitness, beauty and skincare, vegan foods, mental health, meditation, and yoga brands is a testament to this change in consumer behaviour.
It’s not just at the individual level. New approaches to wellness and alternative healing – through therapy, group counseling and government programs – are being carried out at an accelerated pace at the organisational and community levels. There are multiple business opportunities in the wellness sector, particularly in the high-income countries but also in the middle and lower-income countries.
The boom in the $4 trillion global wellness industry is ripe with entrepreneurial opportunities. It is paving the path for rapid innovation and the introduction of new products and services from existing brands and emerging brands with a massive focus on wellness. The Global Wellness Summit has identified broad emerging sectors in global mental wellness as: sensory and sleep products and services ($49.5bn); nutraceuticals and botanicals ($34.8bn); meditation and mindfulness ($2.9bn); self-improvement ($33.6bn).
Wellness business leaders expect the growth to be supported by endorsements not just from traditional sources such as doctors, psychologists, and healthcare practitioners, but also from evidence-based research studies on the benefits of meditation, mindfulness, and fitness as a means of preventive health. By sharing the science behind concepts such as the mind, energy & meditation, even the skeptics can relate to wellness practice as more than just jargon but as a means towards living a life of balance, clarity, and self-awareness, without feeling overwhelmed.
While the rules of the playbook for business have changed amid the global pandemic, wellness start-ups, and existing brands are being backed by investors in the form of securing large funding and billion-dollar valuations. Leaders and entrepreneurs who can identify the rapid changes in consumer behaviour and create future growth possibilities with their business models, products, and services will benefit most from the upcoming wellness economy.
One of the most heartening wellness trends is that in the early years, wellness entrepreneurs like us would have to spend a lot of time and investment on educating people to become aware of their mind, their emotions, their health, and their life choices. But today, especially post-pandemic, people are already aware and conscious of the importance of their well-being in order to remain resilient and optimistic and are seeking out services that can help them adopt self-care, health wellness practices to incorporate into their daily life.
Soniyaa Kiran Punjabi, founder of Illuminations Well-being.
Follow us on
Latest News