When it comes to health and wellness, women lead the way. From wellness entrepreneurs to practitioners, there is no other industry of its size that is dominated by women.
Women are bringing about a more holistic approach to the concept of wellness, by integrating both the physical and mental aspects of health.
In today’s article, we discuss the growing importance of the health and wellness industry, and the role of women entrepreneurs in its prevalence.
Health and Wellness Trends
With the proliferation of fitness centers and obsession with health and overall well-being, it may come as no surprise that the health and wellness industry is a highly profitable trillion-dollar industry.
If you take a look at fitness and wearable technology sales such as Fitbit, has increased exponentially by 88% since 2013. The digital fitness sector alone is a $330 million market. There has also been a similar increase in sales of healthier foods such as organic food and vegan food as more consumers are making the switch to a healthier lifestyle.
Organic beauty product sales have also grown by 74% from 2013 to 2018 as consumers today prefer products that are environmentally friendly.
Healthy Shift in Mindset
The old adage ‘health is wealth’ is true after all – health and wellness are now seen as a status symbol among consumers who prioritize their physical and mental wellbeing. The unprecedented growth of this industry could be attributed to the change in the mindset of today’s consumers. More consumers are gravitating towards environmentally friendly products that have inherent health benefits and are also well-designed.
Women in the Health and Wellness Industry
All over the world, the wellness industry is predominantly made of up of women entrepreneurs. Here some of the female entrepreneurs in Singapore who have founded successful companies in the industry.
Founded by Linda Tang and Anabel Chew, WeBarre is a technique that incorporates ballet, yoga, pilates, and strength training in an invigorating workout to strengthen and tone the entire body. Inspired by the technique of Barre, which has taken the world by storm where celebrities such as Madonna and Victoria’s Secret Angels swear by, our female entrepreneurs have found success in a fitness-focused industry.
Founded by Maylis Cao, Adela John, and Sandra Riley Tang, who is a popular member of local pop band The Sam Willows, the Yoga Collective is a fitness studio dedicated to teaching the art of yoga to everyone, regardless of their fitness levels. Their studio has gained traction among consumers, especially the younger population, who are becoming more invested in their health and well-being.
The multifaceted nature of wellness changes over time along a continuum. Yet, this trend of health and fitness is only gaining more traction as more individuals are looking to invest in their overall health. As such, the wellness industry undoubtedly provides ample opportunities for entrepreneurs to succeed, especially women due to the nature of the industry itself – from beauty products to mind and body exercises.
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