Tuesday, November 10, 2020

Report claims mental wellness is a $120.8bn market | Music Ally

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.

Stuart Dredge

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