Tapping into opportunities in the US wellness market

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Share this email Share this email on LinkedIn   Share this email on Twitter   Share this email on Facebook   AN ARTICLE A DAY, PICKED BY OUR EDITORS   Edited by Joyce Yoo   Digital Editor, New York Are mindfulness apps, skincare products, fitness wearables, and vitamins a regular part of your life? If so, you are not alone—Americans are spending more than $450 billion on wellness products and services and the market is growing at more than 5 percent annually. As more innovative products and players enter the market, it is clear that wellness is a major priority for consumers and investors alike—yet the current offerings are not sufficiently meeting the needs of some groups including millennials and Black consumers. What can companies do to fill these unmet needs? A new article by McKinsey senior partners Martin Lösch, Warren Teichner, and their coauthors helps identify the gaps by laying out the nuances and trends of this booming market. Give it a read and explore the opportunities. Still feeling good: The US wellness market continues to boom Our research shows continued growth of consumer interest in health and wellness, with persistent gaps in certain areas presenting exciting opportunities for companies to serve unmet consumer needs. Read new insights   Quote of the day "If you're a good lawyer, you listen to people. Often, you realize that the specific issue they're most focused on in the moment is actually the manifestation of a deeper problem." —Pierre Gentin, senior partner and global general counsel in "McKinsey's unorthodox general counsel" Chart of the day See today's chart   ALSO NEW Tracking public-health outcomes across the United States Explore health outcomes, access to care, and health risks management with the United States of Health Dashboard. Dive into the data   How effective boards approach technology governance As technology's strategic importance to the business expands, management needs stronger board guidance. Four engagement models have proven useful. Engage on tech   Where the world's largest companies stand on nature While Global 500 companies increasingly recognize the importance of nature, few companies have established nature-related commitments outside of carbon. Consider all dimensions   Follow our thinking Share these insights Did you enjoy this newsletter? Forward it to colleagues and friends so they can subscribe too. Was this issue forwarded to you? Sign up for it and sample our 40+ other free email subscriptions here. This email contains information about McKinsey's research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy. You received this email because you subscribed to the Daily Read newsletter. Manage subscriptions | Unsubscribe Copyright © 2022 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007