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18 November 2020 by Amrutha Shridhar, Euromonitor International
Around the world we are seeing a rise in life expectancy as a result of higher education, rising living standards and better healthcare services. However, the thing to keep in mind is that the extra years in life expectancy are not always “healthy” for our global consumers. For example, health risks such as diabetes and obesity are rising, largely due to changes in diets and lifestyles as well as social and physical environments.
Self-rating of Health
Percentage of Global Respondents
Source: Euromonitor International’s Health and Nutrition Survey, fielded January to February 2020
As concerns about health problems and the number of people affected by different types of diseases continue to rise, living a healthy life has become a top priority for today’s consumer. Meanwhile, the view on health continues to evolve among people across the globe. Perceptions of healthy living are shifting beyond just physical health to represent a much more holistic view, where mental wellbeing and broader lifestyle issues are seen as a whole entity.
Furthermore, to cope with rising health problems and exploding healthcare costs, consumers are driven to invest in their health now rather than later when it might be even more costly – 29% of global respondents say that cost and the price of medical care is preventing them from seeking medical advice.
Definition of Health
To capture this growing health market, it is vital to understand evolving illnesses, health trends and consumer approaches to treatment and prevention across categories and industries, as the approach to healthcare becomes more and more holistic. Understanding consumer needs allows companies to be proactive in innovation and product development, as well as being able to support targeted marketing and sales strategies.
75% of respondents who seek immunity benefits feel vitamins and supplements are important to their overall health and nutrition
12% of respondents who exercise on a regular basis participate in stress reduction activities daily or almost every day
This report was contributed by knowledge partner:
Food & Beverage HoReCa FHA Insider Knowledge Partner Euromonitor Consumer Trends
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