Over the past several decades, we have become more and more aware of how important things like eating healthy, getting plenty of exercise, and avoiding smoking and other dangerous activities can be for our overall health and wellbeing.
As we have learned more about how to live healthy lives, we have also begun searching out alternative products and services that help us meet our daily needs in ways that are healthy and sustainable.
In fact, according to the Global Wellness Institute, an organization that has tracked the growth of the wellness industry since 2007, the ‘global wellness economy’ had grown to roughly $4.5 Trillion by 2018. Yes, that’s Trillion with a T.
And one sector within the Wellness industry is set up particularly well for breakout growth in the near future: Mental Wellness.
Before we explore what Mental Wellness means, why it looks ready for massive growth, and who are the companies pushing the Mental Wellness industry forward, let’s take a moment to understand the overall Wellness Industry and where Mental Wellness fits in.
Understanding the Overall Wellness Industry
The Global Wellness Institute defines the ‘wellness economy’ as the “industries that enable consumers to incorporate wellness activities and lifestyles into their daily lives.” This is further divided into 11 sectors: Physical Activity, Wellness Real Estate, Workplace Wellness, Wellness Tourism, the Spa Economy, Thermal/Mineral Springs, Healthy Eating/Nutrition/Weight Loss, Personal Care/Beauty, Preventative Medicine, Traditional/Complimentary Medicine, and the newly added sector: Mental Wellness.
The overall wellness economy has been growing by roughly 6.4% since 2015—nearly twice as fast as the global economy as a whole.
As we can see, wellness is an important industry, and within this massive, fast-growing economy, the Mental Wellness sector is set for very healthy growth in the coming years.
Mental Wellness’ Breakout Success Within the Wellness Industry
In the most recent report on the global wellness economy, the Global Wellness Institute included Mental Wellness as a unique category for the first time. The report found that the economy of Mental Wellness had reached more than $120 Billion in 2019 and was projected to continue growing at a healthy pace.
“Stress, loneliness and burnout were exploding pre-pandemic, and a stronger focus on mental wellness has been a cultural mega-shift these last few years: People awakening to the importance of integrative solutions including meditation, sleep and brain health … But mental wellness as a concept, and what constitutes it as an industry, has remained incredibly fuzzy,” said Ophelia Yeung, GWI senior research fellow. “Clarifying what it is, and delineating its business segments, is overdue. And while most mental wellness strategies are free–like spending time in nature or with friends–people increasingly seek non-clinical help in coping with everyday mental challenges, and that’s where the mental wellness industry comes in.”
Mental Wellness as defined by the GWI is “an internal resource that helps us think, feel, connect, and function. It is an active process that helps us to build resilience, grow, and flourish.”
But what do the companies leading this brain-health revolution within the wellness industry look like? Let’s take a look at some of the players in mental wellness and how they are shaping the future of wellness:
Mindhouse is a unique company that combines the benefits of yoga, meditation, and nutrition to help its users with issues related to everyday wellness, chronic ailments, mental health, and women’s health.
What we love about Mindhouse:
- They have a holistic view of wellness that covers mental, physical, and emotional issues.
- Their digital platform allows users to access their services from anywhere.
- Their specific focus on providing women’s wellness services.
Equip is working to help individuals overcome eating disorders by making it easier for people to connect with therapists, find family and peer mentors, and develop the skills they need to live a healthy and happy life.
What we love about Equip:
- Equip not only focuses on the immediate needs of overcoming eating disorders, but also works to help individuals build healthy habits for long-term success.
- They combine professional medical support, family and group counseling classes, dietary and nutritional guidance, skill-building, and more into a holistic approach to recovery.
Headspace is on a mission to help people stress less, sleep better, and live happier lives by teaching meditation and mindfulness skills in quick, easy-to-follow on-demand classes.
What we love about Headspace:
- The company has grown and transformed from hosting in-person events into a truly digital platform for wellness.
Unmind is helping to make the workplace a better place through its mental health platform for businesses. They help employees proactively measure, understand, and improve their mental wellbeing.
What we love about Unmind:
- The Unmind platform is designed specifically to help build healthy workplaces by giving employees the tools they need to improve their mental wellbeing.
- The platform promotes a healthy culture by allowing employees to send ‘expressions of gratitude’ to other users, praising them for being trustworthy, kind, inspirational, and more.
Togetherall offers a “safe, online community to share feelings anonymously and get support to improve mental health and wellbeing.” They have built a platform where people can support each other, within a community that is safely monitored by licensed and registered mental health practitioners.
What we love about Togetherall:
- Their community is making it easier for people to get over the taboo of talking about mental health.
- Using licensed mental health practitioners to moderate the communications forums helps to ensure people encounter quality content and ensures conversations stay on topic and avoid harmful misinformation.
Though mental health and wellbeing is a relatively new sub-section within the global wellness economy, it has grown to become a core aspect of any holistic approach to wellness. This growing demand from consumers is pushing unprecedented investment and innovation in the products and services available.
While any mental health journey should include input from certified mental health professionals, the increasing availability of scientifically-backed mental wellness tools can go a long way in improving our mental health and making peoples’ lives better in the process.
If you would like to share a story of your mental wellness journey or tell us what your favorite mental wellness tools are, we’d love to hear from you. Connect with us on Facebook, Twitter, and Instagram now!