10/05/2023
These statistics and trends were recently presented at our Creative Marketing Mastery event, and wow did we go in-depth on how to further your brand in 2023. So if you're a beauty or wellness business owner you need to read the below...
Here it is, the beauty and wellness industry is projected to be worth nearly $7.0 trillion USD by 2025, with an average annual growth rate of 9.9%? Amongst this, Australia is ranked the 10th largest wellness market in the world.
Australians are also big spenders on beauty products, with roughly $22 billion spent each year. However, ethical considerations play a role, as 46% of Australian women would avoid cosmetic products if they were involved in animal testing.
The Corporate Wellness industry is also on the rise, with a 6.4% increase forecasted for 2023. 🌟 This aligns with the trend towards wellness at work, as more and more companies recognise the importance of employee wellbeing.
Looking ahead, there are several exciting wellness trends to watch out for, including the focus on slowing down through mindfulness, fitness recovery, and spiritual wellbeing. Virtual experiences, AI, and virtual fitness are also gaining popularity, as are micro/express workouts and wellness experiences.
Sustainability and natural products are also on the rise, with plant-based power becoming increasingly popular. Self-care and minimalist skincare are also becoming more important, with less being more.
And finally, GenZ is set to be the biggest investors in beauty and wellness, while men's personal care and wellbeing is also on the rise.
Are you excited about the future of wellness? Let us know in the comments!
Agency Jean
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