Beauty and wellness Industry for U.S. Market
By Kartikeya Sharma in Fashion,Mobile Technology,Technology
Size of Beauty & Wellness Industry in US
Wellness is about making healthy lifestyle choices and maintaining one’s well-being both physically and mentally. In recent years, more people around the world have begun to recognize the importance of wellness – a trend which has seen the value of the industry increase year-on-year. In 2013, the market size of the global wellness industry amounted to more than 3.4 trillion U.S. dollars. The beauty and anti-aging segment was by far the largest, constituting around a third. The various segments making up the wellness industry are diverse and include, among others, healthy eating and weight loss, fitness, alternative medicine and the spa industry.
The spa industry in the United States generated 14.7 billion U.S. dollars in revenue from more than 20 thousand locations in 2013 as compared to 2010, the U.S. spa industry reported revenues of 12.8 billion U.S. dollars.
The spa industry segment of the global wellness industry was worth an estimated 94 billion U.S. dollars in 2013. In comparison, beauty and anti-aging, which was the biggest segment in the industry, generated revenue of over 1 trillion U.S. dollars.
During a national survey by market research company Nielsen Scarborough in spring 2014, 15.54 million people said that they had used day spa services within the past 12 months.
The U.S. beauty industry generated a total revenue of 56.2 billion U.S. dollars in 2015.
In the last five years, the health and wellness industry, including organic personal care, yoga studios and fitness clubs, has experienced growth in the United States, according to industry reports by IbisWorld and Grand View Research.
Organic personal care products are expected to grow by nearly 10 percent a year by 2020. Yoga studios have grown 2.8 percent annually since 2010, fitness clubs have grown 2.2 percent annually since 2010, while health and wellness spas have grown 2.7 percent annually since 2010, according to IbisWorld.
In short – Americans are more concerned with being naturally healthy.
To be continued.. Part 2