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Tapping into opportunities in the US wellness market

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  Edited by Joyce Yoo
  Digital Editor, New York

Are mindfulness apps, skincare products, fitness wearables, and vitamins a regular part of your life? If so, you are not alone—Americans are spending more than $450 billion on wellness products and services and the market is growing at more than 5 percent annually. As more innovative products and players enter the market, it is clear that wellness is a major priority for consumers and investors alike—yet the current offerings are not sufficiently meeting the needs of some groups including millennials and Black consumers. What can companies do to fill these unmet needs? A new article by McKinsey senior partners Martin Lösch, Warren Teichner, and their coauthors helps identify the gaps by laying out the nuances and trends of this booming market. Give it a read and explore the opportunities.
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by "McKinsey Daily Read" <publishing@email.mckinsey.com> - 05:13 - 21 Sep 2022