An inside look into the 2021 global consumer health and wellness revolution
CHICAGO, October 28, 2021--(BUSINESS WIRE)--Today, NielsenIQ released its new global health and wellness report, "An Inside Look into the 2021 Global Consumer Health and Wellness Revolution." The report sheds new light on why health and wellness is one of the most powerful consumer forces of 2021.
In this new report, NielsenIQ explores consumer sentiment across 17 diverse global markets and dives deep into data to help companies better understand the global state of health, wellness, and well-being. The insights uncover how consumer needs have been reshaped around the world, what is trending, and what the budding opportunities are across the new, broadened spectrum of global health and wellness.
"To consumers, health is everything and everywhere, and the companies who fail to address this are already at risk of falling behind the curve," said Genevieve Aronson, Vice President of Global Thought Leadership, NielsenIQ. "Companies need to understand global consumer needs, from what motivates consumers’ approach to self-care, to acknowledging the external forces at play that are driving the direction of the industry. Most importantly, companies need to recognize the role they play in the health and wellness ecosystem in order to make effective and market-leading decisions in the health and wellness space. "
The detailed report includes five key takeaways that will impact the global health and wellness landscape.
Catalysts of change within socioeconomic conditions, costs of healthcare, and consumer choice. As the cost of health care rises, socioeconomic issues build and consumers determine their own health and wellness journeys, businesses and governments become increasingly more interconnected. Coupled with the enduring COVID-19 impact, this trifecta of forces is paving the direction of the CPG landscape.
Health and wellness is not a one-size-fits-all issue. Consumers have varying levels of engagement with their own well-being, and their behaviors vary drastically across countries according to their proactive or reactive decision-making tendencies.
NielsenIQ has developed a global hierarchy of consumer needs that breaks down the core health, wellness, and well-being priorities of today’s consumers: namely, their Protective, Preservation-focused, Aspirational, Evolving and Altruistic health needs. The simple, five-level strategic guide enables a new and holistic way of understanding what matters to consumers, what motivates them, and what types of products are moving in each space.
The future of well-being will pivot around seven future forces of change: rapid tech adoption, generational shifts, new life outlooks, omni-connected communities, biological revolution, agtech advancement, and shift in policy, legislation, and governance.
The state of health and wellness is evolving and shifting towards a world that is more well-being focused. Companies need to understand global consumer needs, from what motivates consumers’ approach to self-care, to acknowledging the external forces at play that are driving the direction of the industry, and most importantly, recognize the role they play in the health and wellness ecosystem in order to make effective and market-leading decisions.
For more key findings and recommendations, read the full report.
NielsenIQ is the leader in providing the most complete, unbiased view of consumer behavior, globally. Powered by a groundbreaking consumer data platform and fueled by rich analytic capabilities, NielsenIQ enables bold, confident decision-making for the world’s leading consumer goods companies and retailers.
Using comprehensive data sets and measuring all transactions equally, NielsenIQ gives clients a forward-looking view into consumer behavior in order to optimize performance across all retail platforms. Our open philosophy on data integration enables the most influential consumer data sets on the planet. NielsenIQ delivers the complete truth.
NielsenIQ, an Advent International portfolio company, has operations in nearly 100 markets, covering more than 90% of the world’s population. For more information, visit NielsenIQ.com.
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