Beyond Health: The Expanding Landscape of the Wellness Industry💪

Beyond Health: The Expanding Landscape of the Wellness Industry💪

• keyword: wellness, mental, health, fitness, well-being, happiness, LDA, Topicmodeling

👀Intro.

The wellness industry is rapidly emerging as a key driver of global economic trends. It integrates well-being, happiness, and fitness, encompassing physical, mental, and environmental factors to enhance overall life satisfaction. According to the Global Wellness Institute (GWI) 2024 report, the global wellness market was valued at $6.32 trillion in 2023 (6.0% of global GDP) and is projected to grow at an annual rate of 7.3% through 2028. North America leads the market, showing the fastest growth. In this report, we analyze key discussions in the wellness industry through LDA analysis to identify emerging opportunities.

1.Dataset Overview

2. LDA Topic Modeling in Wellness Data

The results of the LDA topic modeling reveal five major discourses related to wellness in 2024. The most significant discourse is "Expansion of Wellness Education and Public Services" (32.3%), followed by "Mental Health and Community-Based Wellness Programs" (18.9%) and "Wellness Centers, Resorts, and the Spa Industry" (17.9%). These findings indicate that the wellness industry is evolving beyond individual health management to encompass public services, mental health, and experience-driven wellness industries such as resorts and spas. Notably, the expansion of wellness education at the governmental and institutional levels, along with community-based mental health support, has emerged as a key issue. These factors are expected to play a crucial role in shaping future policies and business strategies in the wellness industry.

✔Topic 1) Wellness product and service launches

[topic main words] health, product, launch, employee, financial, report, company

Recently, companies have been actively launching wellness products and services to strengthen their market presence. In particular, companies offering healthcare, beauty, and fitness wellness products are leveraging AI and data analytics to power personalized solutions and gain a competitive edge.

Even companies that do not directly offer wellness products or services are increasingly expanding wellness programs as part of their efforts to enhance employee benefits. Through these efforts, companies are fostering a more comprehensive wellness environment.

✔Topic 2) Wellness centers, resorts, and the spa industry

[topic main words] spa, center, resort, holistic, trend, program, community, hotel, retreat

The wellness center, spa, and resort industries are experiencing growth through service expansion and differentiated wellness programs. In the global market, resorts and hotels are increasingly enhancing wellness-focused services such as yoga, meditation, and nutrition management.

✔Topic 3) Mental health and community-based wellness programs

[topic main words] mental, community, support, care, student, healthy, program

As mental health becomes a core element of the wellness market, support programs for mental well-being are expanding across businesses, educational institutions, and local communities.

✔Topic 4) Wellness education and public service expansion

[topic main words] edu, student, program, service, support, community, industry

With wellness expanding into education and public services, schools, public institutions, and local governments are increasingly implementing wellness support programs.

✔Topic 5) Wellness tourism

[topic main words] tourism, market, global, retreat, business, industry, travel, experience

As wellness tourism experiences rapid growth in the global market, discussions on wellness retreats, travel packages, and industry trends are becoming increasingly active. In major travel destinations, traditional tourism offerings are increasingly incorporating wellness elements such as spas, yoga, and detox programs.

💟Outro.

The wellness industry continues to expand beyond individual health management, integrating education, public services, mental health, tourism, and corporate wellness programs. Companies are leveraging AI and personalized solutions to enhance wellness offerings, while governments and institutions are actively implementing wellness initiatives. With continuous innovation and investment, the wellness market is set to grow, creating new business opportunities and societal benefits worldwide.

For inquiries about this report, please contact: Jang Jayeon

TheIMC, Bigdata Team, Junior Researcher / jyjang357@theimc.co.kr