Global Wellness Industry Expected to Hit $8 Trillion as Millennials Prioritize Self Care Over Everything

I mean… I dont know if this is inspiring or terrifying? Probably both honestly.

New projections from the Global Wellness Institute put the worldwide wellness industry on track to hit $8.5 trillion by 2027. Thats trillion with a T. The industry grew by over 10% in the last year alone and shows absolutely no signs of slowing down.

And look I get why this makes some people roll their eyes. Wellness has become code for “expensive things marketed to anxious people.” $200 smoothies. $500 sound baths. Crystals that cost more than rent. The wellness-industrial complex is real and its… a lot.

But I think theres something deeper happening here too? Like maybe people are spending money on wellness because they’re genuinely not well? And the traditional systems that were supposed to help – healthcare, community, religion, whatever – have kind of… failed?

The numbers show millennials and Gen Z are driving most of this growth. Over 70% of millennials say they prioritize wellness spending over other discretionary purchases. Theyre skipping the fancy cars their parents wanted. Theyre skipping the big houses. Theyre spending on therapy and yoga and supplements and retreats instead.

Is some of it performative? Obviously. Instagram has turned self-care into a competitive sport. But I also think theres a generation of people who watched their parents work themselves into early graves and decided that couldnt be them. The whole small business optimism we’re seeing partly reflects people starting wellness-focused businesses.

The categories breaking down the spending are interesting too. Mental wellness is the fastest growing segment – therapy, meditation apps, stress management. Physical fitness is still huge but its shifted toward holistic approaches rather than just “get ripped.” Sleep optimization is its own billion dollar category now. Sleep! We’ve monetized the ability to fall asleep!

I think… and this might sound naive… but I think the wellness boom represents people trying to take control of something in a world where so much feels out of control? Like we cant fix climate change individually. We cant fix the economy. We cant fix politics. But we can do our morning routine. We can take our vitamins. We can breathe.

Is $8 trillion worth of breathing and vitamins probably excessive? Yes. Definitely yes. But also I understand why people are reaching for something. Anything.

The industry will keep growing. People will keep spending. And maybe thats okay? Or maybe were all just coping in the most expensive way possible. Honestly probably both.