千禧一代与Z世代推动的2万亿美元全球健康市场升级

To millennials and Gen Zers,wellness has become a daily, personalized practice rather thana set of occasional activities or purchases.As this shift takes hold, it’s influencing the direction of the $2 trillion global wellness industry,which is expanding beyond its core categories. Even though younger demographics maybe pushing the industry forward, older consumers, too, are becoming more interested in anexpanding definition of wellness.In our fourth year fielding our Future of Wellness research, which focuses on six dimensions ofwellness—health, sleep, nutrition, fitness, appearance, and mindfulness—we surveyed morethan 9,000 consumers across China, Germany, the United Kingdom, and the United States. Twobig ideas stood out in this year’s research: Younger consumers are conceptualizing wellness innew ways, and wellness is showing up in new places.Our latest findings reveal the ways in which younger consumers are redefining the landscape, thefive consumer segments that make up today’s wellness customer base, and six subcategoriespoised to grow.1Younger generations are spending disproportionately on wellnessWellness is more important to consumers than ever. In the United States alone, we estimatethat it represents more than $500 billion in annual spend, growing at 4 to 5 percent eachyear. (Despite macroeconomic volatility through the first half of 2025, we believe the wellnesscategory is resilient. See the sidebar, “How resilient is the wellness space?”) Meanwhile,84 percent of US consumers say wellness is a “top” or “important” priority (in the UnitedKingdom, that figure is 79 percent, while it soars to 94 percent in China).1We chose to focus on the six subcategories identified in this article—functional nutrition, healthy aging, beauty, in-personwellness services, weight management, and mental health—because of the growing investor interest in them, the M&A activityin these areas, and the considerable innovation taking place in these subcategories.Younger consumers are conceptualizingwellness in new ways, and wellnessis showing up in new places. In surveys,consumers typically say theyplan to reduce discretionary spendingif their finances worsen. But we believewellness is a resilient category, for a fewreasons. One, wellness has become ahigh priority: Consumers say that in theevent of an economic downturn, they areless likely to cut spending across a rangeof wellness subcategories than they areon other consumer spend buckets suchas clothing, entertainment, and homedecor (exhibit). We also know that duringthe Great Recession, sales of vitaminsand supplements grew 6 percent in theUnited States from 2008 to 2009, whileUS GDP fell by 3 percent. Fast-forward to2020, and the vitamins and supplementsmarket again defied market trends,growing 10 percent while the overallmarket contracted 2 percent, though thiswas of course linked to health concernsspurred during the COVID-19 pandemic.How resilient is the wellness space?ExhibitWeb <2025><Wellness>Exhibit <sidebar> of <6>1Question: Think of an event that could negatively affect your economic circumstances (eg, recession, job loss, medical emergency). If your personal/householdfinances were negatively affected in the next year, on which of the following categories would you consider cutting spending? The following categories wereexcluded: digestive medication (24%), at-home diagnostic tests (17%), and superfoods (15%).Source: McKinsey Future of Wellness Survey, Nov 2024Consumers say they are less likely to cut spending in several wellnesscategories, though these tend to include staple wellness items.McKinsey & CompanyPotential spending cuts in response to negative impact on consumer economic circumstances,by product category,¹% of purchasers who would not cut spending (n = 3,700)tMenstrual-care products5845 45 32 30 28 27 27 23 17 14 tPregnancy/postpartum productstSkin care productstMenopause productstVitamins and supplementstCough, cold, and allergy medicationstAnalgesicstContraception productstGroceriestCorrective eyeweartInfant care products This category continued to thrive despitetrade-down behavior, since the culturalshift toward health and wellness servedas a stronger tailwind against broadermacroeconomic headwinds.Health and wellness players and investorscan insulate themselves from an economicdownturn through diversified portfolioswith exposure to resilient categories.tColor cosmeticstHome decortEntertainmenttHealth-tracking devicestClothes and/or shoestFertility devices998665WellnessNonwellness 3The $2 trillion global wellness market gets a millennial and Gen Z glow-up Younger generations especially are increasingly prioritizing wellness. Nearly 30 percent ofGen Zers (people born between 1997 and 2012) and millennials (born between 1981 and 1996)in the United States report prioritizing wellness “a lot more” compared with one year ago, versusup to 23 percent of older generations. This may be due to several factors: Younger generationsself-reporthigher level