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Wellness Industry - 101
What is the Wellness Industry?
Wellness is anything that makes you feel healthier, stronger, see better, hear better, feel better, or fight symptoms of ageing.
What is the Sickness Industry?
The sickness industry is the healthcare industry i.e. anything concerned with being sick and treating symptoms of sickness. The Sickness Industry has little to do with preventing illness, being stronger or healthier.
What is important about the Wellness Industry?
The Natural Marketing Institute (NMI), Managing Partner Steve French states, “Despite recent economic challenges, consumer spending last year in the health and wellness industry continued to rise. We project this trend to continue with sales reaching more than $73 billion in 2005.” The Consumer Confidence Board corroborated this outlook when it reported that 2004 saw an increased economic expansion and job growth with an even more favourable outlook in 2005.
Segment 2001 (Billions)2003(Billions)2004(Billions)Growthvs.20034 YEAR CAG*
Functional and fortified foods & beverages$18.4$21.8$23.47%8.3%
Vitamin, minerals, herbal & dietary supplements$17.1$17.9$19.06%3.6%
Natural foods and beverages$9.6$10.8$11.34%5.6%
Organic foods and beverages$7.6$9.2$10.918%12.8%
Personal care$2.4$3.5$4.014%18.6%
TOTALS$55.1$63.2$68.68.5%7.6%
This data will be published in March 2005 in NMI’s 2005 Health and Wellness Trends Report (HWTR). This comprehensive report contains more than 200 pages of data and analyses the consumer attitudes, behaviours, product usage, lifestyles and demographics surrounding the health and wellness arena. Specific category focus includes: natural,
organic, functional, fortified foods and beverages; weight loss products; natural/organic personal care; sports nutrition; dietary supplements; health-related ingredients; Rx versus OTC versus foods and supplements in treatment and expanded analysis of the top trends of 2005.
Paul Zane Pilzer, Economic Advisor to two presidential administrations and three-times New York Times best-selling author say this … You couldn't really have gone into wellness 10 or 15 years ago because there was no wellness industry. Most of these products and services are just now coming out of the laboratory. And when you look into those laboratories and see what's coming, you see that this business is really going to take off. Of anything I've ever been involved with, the wellness industry looks the most exciting right now. (An Interview with Paul Zane Pilzer By John David Mann and John Milton Fogg From Network Marketing Lifestyles Magazine Sept. 2001)
In short, the Wellness industry is going through a boom. Before the end of this decade we will see the Wellness industry surpass the dot.com revolution. The next gold rush so to speak is the Wellness industry. This is exciting time.
To your Wellness!
About the Author
Gillian Tarawhiti, is Founder and CEO of Community Training Centre, an Internet Marketing firm providing Online Training and Support.Gillian is also the author of eBay Billion Dollar Goldmine and the creator of the Multiple Ripple Effect System © 2004. Permission is granted to reprint this article in print or on your web site so long as the paragraph above is included and contact information is provided to http://www.millionairerippleeffect.com
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