New Global Wellness Institute research reveals the wellness industry stands at a record $6.8 trillion, growing faster than major global industries and set to approach $10 trillion by 2029.
The global wellness economy has reached a record-breaking $6.8 trillion, according to new research from the Global Wellness Institute (GWI). Even more striking: the industry is forecast to grow to $9.8 trillion by 2029. This confirms wellness as one of the most powerful forces shaping the global economy today.
GWI’s newly released Global Wellness Economy Monitor 2025 reveals a market that is no longer recovering from the pandemic, but rapidly expanding. Since 2019, the wellness economy has grown 35%, at an annual rate of 6.2%. Further it is likely to grow even faster at 7.6% annually through 2029.
Wellness is bigger than most global industries
At $6.8 trillion, wellness now surpasses several major global industries. It is significantly larger than sports ($2.7 trillion), tourism ($5 trillion), the green economy ($5.1 trillion), and even information technology ($5.3 trillion). It is nearly four times larger than the pharmaceutical industry, which stands at $1.8 trillion.
Perhaps most telling is how wellness compares to healthcare spending. Global wellness spending is now 60% as large as all health and medical expenditure combined, including both government and consumer spending. This shift highlights a growing global focus on prevention, wellbeing, and longevity, rather than treatment alone.
All wellness sectors are growing, with one exception
The wellness market has doubled since 2013 between 2023 and 2024 alone. It grew 7.9%, reaching its highest value ever of$6.8 trillion in 2024. Importantly, all wellness sectors have now surpassed their pre-pandemic (2019) levels, most by wide margins.
The fastest-growing sectors between 2019 and 2024 were wellness real estate, expanding at an exceptional 19.5% annually, and mental wellness, growing at 12.4% annually. The only sector to show decline was workplace wellness, where global spending fell by 1.5% from 2023 to 2024, largely due to remote work, gig employment, and a move away from traditional corporate wellness programs.
Regional growth reflects a global shift
Every region of the world has seen strong wellness growth over the past five years. North America led with 7.9% annual growth, followed closely by the Middle East and North Africa (7.2%) and Europe (6.3%).
However, spending levels vary sharply. Per capita wellness spending is highest in North America ($6,029) and Europe ($1,876), compared to regions such as Latin America-Caribbean ($607), Asia ($471), and Middle East-North Africa ($339)—highlighting both opportunity and inequality in global access to wellness.
Mental wellness and real estate lead the boom
Wellness real estate has emerged as the strongest growth driver. The pandemic reshaped how people think about the spaces they live and work in, increasing awareness of how environments impact physical and mental health.
Mental wellness is the second major growth engine. With rising stress, burnout, and anxiety worldwide—and younger generations placing mental wellbeing at the centre of their priorities—this sector has expanded rapidly. The U.S. mental wellness market alone is worth $125 billion, far exceeding other countries, with China a distant second at $16 billion.
High-growth segments within mental wellness include cannabis products (26% annual growth), meditation and mindfulness (18.9%), and sleep-related solutions (12.6%).
Mature sectors remain strong and stable
Four wellness sectors are now considered mature but steady performers. These are: personal care and beauty; healthy eating, nutrition and weight loss; physical activity; and traditional and complementary medicine. Each of these grew at roughly 5% annually from 2019 to 2024, showing consistent global demand.
Tourism-linked wellness sectors, which suffered heavily during the pandemic, made a strong comeback. Between 2023 and 2024, wellness tourism grew 13.8%, spas 14.6%, and thermal and mineral springs 11.1%. The data places them among the fastest year-on-year gainers.
What will drive growth through 2029
Looking ahead, GWI expects growth to accelerate further. This is mainly due to aging populations, rising chronic disease, increasing mental health challenges. Strong consumer interest in prevention and longevity is also a strong driver.
Through 2029, the fastest-growing sectors are forecast to be wellness real estate (15.8%). That’s followed by traditional and complementary medicine (10.8%), mental wellness (10.1%), and thermal and mineral springs (10%). Personalised medicine, now a $147 billion market, is also expected to grow rapidly as consumers seek diagnostic and tailored health solutions.
By 2029, six wellness sectors are expected to exceed $1 trillion each. This cements wellness as a defining pillar of the global economy.