Generation Z boosts wellness industry with search for therapy and other methods

Comparison between generations is something that has always existed. For as long as the world has been around, comments have been made about the behavior, habits and tastes of younger generations. The rite of passage generates labels such as lazy and irresponsible. This happens with all generations and, just to mention the most modern ones, it happened with the so-called silent generation, with the baby boomers, generation X, the millennials and now with generation Z.

Report from The Guardian, from last March, asks the question “Is the reported rise in mental illness among under-25s due to greater awareness and less stigma – or is there something really wrong with young people?” In the case of generation Z, something is apparently happening, the report brings results from a survey by the Resolution Foundation that says that one in three young people between the ages of 18 and 24 reports some symptom of a mental health problem, such as depression or anxiety, compared to with one in four in the year 2000.

The causes of this are complex and the potential culprits range from the impacts of covid to current wars, in addition to the cost of living, the climate crisis, school pressure, prejudice against minorities, but, mainly, social networks and smartphones, street games and the increasing complexity of modern life.

We can find several studies dealing with this issue, but the fact is that the “anxiety” of generation Z is driving an entire industry in the search for a greater degree of well-being. From therapeutic treatments, to coaching and mentoring, especially getting help on the internet and social media.

Forbes values ​​this industry at US$27 billion, but when information is sought about the wellness industry as a whole, the number grows significantly. The company MacKinsey estimates that the global wellness market will be worth US$1.8 trillion by 2024. With treatments ranging from ice-cold dips to collagen and celery juice, this industry is not just gaining ground for fashion, but the The future of well-being is supported by science and data. Especially Gen Z and millennial consumers, who now purchase more wellness products and services than older generations, across dimensions relating to health, sleep, nutrition, fitness, appearance and mindfulness.

More than 50% of generation Z people and 45% of millennials consume products linked to appearance. However, in therapy, meditation and other mindfulness services, the average expenses of Z and Y are higher than other generations. The trends in this industry are in women’s health, healthy aging, weight control, in-person physical preparation, sleep, intestinal and sexual health. Investing in yourself is the best kind of investment that anyone can do.