Chronicles
6 December 2024
Mental Wellness: An Industry in Its Own Right
In 2020, the Global Wellness Institute (GWI) in the United States released a groundbreaking study highlighting mental wellness as a fully fledged industry. Titled Defining the Mental Wellness Economy, the report valued the sector at $121 billion. Presented on November 9, 2020, at the Global Wellness Summit, this study marked a pivotal moment in recognizing the economic significance of mental wellness.
During the presentation, Ophelia Yeung, co-author of the study, emphasized the growing importance of mental wellness in the context of the pandemic and lockdowns. She also noted the increasing interest of both consumers and businesses in this domain. The study makes a clear distinction between mental wellness and mental health, defining the former as an internal resource that enables individuals to think, feel, connect, and function. It is described as an active process fostering resilience, personal growth, and fulfillment.
To assess the value of this economy, GWI focused on consumer-facing businesses offering products and services for mental wellness. In response to rising demand, these companies have developed a wide range of innovative solutions.
Four Key Markets or Subsectors Identified
1. Self-Improvement:
This subsector, valued at $33.6 billion, includes services such as coaching, mentoring, therapy, cognitive enhancement, as well as books, apps, and online platforms. Institutions like 1440 Multiversity in California and platforms like Wappy in Quebec illustrate the commitment to promoting personal growth and self-development.
2. Nutraceuticals and Medicinal Plants:
With an estimated value of $34.8 billion, this subsector encompasses supplements, traditional remedies, and plants supporting mental health. Superfoods, functional beverages, and legal cannabis products for mental wellness are also part of this category. Spas and therapists can leverage this market by offering tailored products or enhancing their retail offerings.
3. Meditation and Mindfulness:
Although the smallest subsector at $2.9 billion, it covers diverse practices, training, retreats, apps, and accessories. Millions of individuals practice meditation and mindfulness without incurring costs, presenting untapped potential for businesses in this space.
4. Sensory Experiences, Spaces, and Sleep:
Valued at $49.5 billion, this is the largest sub-sector. It includes products and services designed to stimulate the senses—sound, scent, light, and touch—as well as solutions for better sleep, such as tech gadgets and immersive experiences like forest bathing and floatation tanks. Spas play a central role in this domain by offering multi-sensory experiences.
The study notes that while these subsectors reflect current trends and consumer perceptions, they may not necessarily represent the most effective approaches to mental wellness. It encourages wellness professionals, such as spas and therapists, to explore opportunities for specialization or integration of these practices.
Emerging Opportunities with Ethical and Innovative Solutions
This growing industry highlights the importance of developing ethical, innovative solutions within a rigorous framework. Professionals are urged to assess client needs with care and adapt to this new reality while adhering to the highest standards.
The MARA Program by Groupe RITMA
In this context, Groupe RITMA has taken a significant step by launching the Métiers d’accompagnement et de relation d’aide (MARA) certification program in 2024. This initiative represents a major milestone in the professionalization of care and support practices in Quebec, reflecting a commitment to excellence and recognition of professionals in this vital field.
Developed in collaboration with experts, the MARA certification aims to standardize norms and enhance the skills of RITMA members. It provides a structured framework for evaluating and validating competencies to meet the expectations of various authorities.
This initiative addresses the growing need for professionalism and recognition in a field where practices can vary widely. By establishing rigorous standards, Groupe RITMA seeks to promote high-quality services for clients and users.
Professionals seeking this certification must undergo a stringent process, including assessments of their professionalism, adherence to strict ethical guidelines, and compliance with continuous education requirements. An official directory of certified MARA professionals will be shared across RITMA’s various projects.
The certification enhances the legitimacy of care and support professions, fostering public trust in these practices while celebrating their vital contributions to Quebec society. Through this initiative, Groupe RITMA reaffirms its dedication to excellence, quality, and recognition in the field of wellness care and support, solidifying its leadership role in this sector.