COVID-19 Amplifies Demand for Clean Beauty, Wellness Products

Sales in the “wellness economy” soared from 2015 to 2017 by 6.4 percent to $4.2 trillion, according to the Global Wellness Institute — which pegged revenues at $4.5 trillion in 2018. And it continues to grow. The largest portion of the market is personal care and beauty (including antiaging products) with revenues estimated at more than $1.1 billion. Healthy eating, nutrition and weight loss is the next largest segment with more than $700 billion in sales followed by wellness tourism with $640 billion and then fitness and mind-body with nearly $600 billion in annual revenue. And as the COVID-19 pandemic continues to impact regions all over the globe, there’s a renewed interest in wellness as well as clean beauty. Consumers are concerned about what goes in and on their bodies. It’s a consumer trend that has paralleled the growth and demand for organic and farm-to-table foods. In a comprehensive consumer trend report last year from AlixPartners, analysts at the firm said in beauty and personal care, “almost three quarters [72 percent] of all respondents, regardless of age, said it was important to purchase healthy or clean products.” “These demands, though, are differentiated by market and demographics and very sensitive to pricing,” the authors of the

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