According to the Global Wellness Summit, the wellness real estate market is expected to reach a staggering $887.5 billion by 2027.
The home stands at the epicenter of the wellness real estate market, predicted to grow to $887.5 billion by 2027, according to the latest trend forecasts from the Global Wellness Summit, making it the number one growth leader across the wellness space. is poised to emerge as a (GWS).
As the saying goes, Home is where the heart is — But now, as consumers seek to foster wellness-inspired environments, driven largely by the shift to remote work, increased time spent at home, and the popularity of the at-home TikTok trend that promotes working from home, It is being transformed into a cozy and functional hub. Activities.
According to GWS, “The pandemic has not only increased time spent at home, but also increased health awareness, motivating individuals to better manage their health.”
At-home wellness products are on the rise
With consumers increasingly leaning towards more health-conscious lifestyles, it's no surprise that they're looking to invest in more than just wellness products and build an entire environment of tools to support their health.
In addition to post-pandemic lifestyle changes, advances in technology have enabled consumers to monitor their health and participate in wellness practices from the comfort and privacy of their homes. From self-care such as his anti-aging TheraFace mask to medical-grade home health systems to smart furniture that reacts in real time to designs that enhance preferences and senses of well-being, consumers are now able to make their own choices. Has various options. Wellness space.
Functional furniture also plays an important role in the wellness real estate space, along with aesthetic items that serve fitness and wellness purposes. IKEA, a leading player in the functional furniture space, recently launched its first low-profile fitness and wellness collection, giving consumers and their families a quick workout without investing in an entire home gym.
Beyond furniture, soundscapes are no longer just background music, but a path to wellness that uses AI enhancements to give listeners relaxation, focus, or restful sleep.
Homes that emphasize wellness are on the rise
As the Global Wellness Trends 2024 report points out, the focus on wellness communities such as Life Time Living, the residential arm of the luxury fitness and lifestyle operator, is also gaining popularity. .
Highlighting Lifetime Living's Green Valley development in Las Vegas, which provides personalized services such as meal plans and comprehensive 360-degree wellness programs to homes, GWS announced that Miola, the brand's new longevity and weight loss clinic, will We see this as 'laying the foundations' for services such as this, which will be integrated into housing services in the future.
GWS also spotlights The Well, a New York City-based luxury wellness club, as an example of what's to come in the wellness industry. As The Well expands into residential real estate in Miami, its apartments will tout diffused lighting, water filtration, HEPA air filtration systems, low-VOC paints, organic fragrances, and even charged crystals within the building's foundation. .
Cities and nations are joining the wellness movement and investing in developments that prioritize well-being. Scheduled to debut in 2025, Saudi Arabia's NEOM plans to leverage a groundbreaking digital twin system for the longevity of its residents.
“In the future, our homes will evolve into multifaceted ecosystems, fusing advanced nanotechnology and empathetic architecture to create living spaces that actively enhance our health and well-being, helping us It will reshape how we interact with our environment at a fundamental level,” predicts GWS.
Read the full GWS 2024 Global Wellness Trends Report here.
