In this new episode, Kline’s experts—Karen Doskow, Director of Consumer Products, and Laura Mahecha, Industry Manager of Healthcare—talk about the various facets of wellness, drawing upon insights from our collection of wellness reports.
Below are some highlights from the interview:
What is the definition of wellness?
Mahecha: It is rather difficult to define wellness because it’s so broad, but we’ve taken a stab at it, saying that wellness includes lifestyle choices or products one uses to maintain good health and avoid being ill.
Zooming in on beauty, what are the strongest categories that fit within wellness?
Doskow: Skin care is definitely the strongest category, but there are also personal care products such as deodorants and bath and body washes, and those are very important wellness categories.
Looking at the food & nutrition space, how does wellness extend there?
Doskow: Cannabis plays a key role in wellness, as it’s a very entrepreneurial space that certainly has gained the attention of large food & beverage marketers, as well as firms looking to expand their portfolio.
In healthcare, there are many products that help maintain mental wellness. What is the growth of such products?
Mahecha: CBD for Health and Wellness is a rapidly growing area that more and more consumers turn to for help in managing stress and anxiety, as well as chronic pain and sleep disorders. We’ve also seen even more demand with all of the stress and anxiety related to coronavirus, as consumers are looking for natural ways to address such matters.
Looking more broadly at the fast-growing nutritional supplements market, are there any other notable categories that fit into the wellness space?
Mahecha: Yes. We have seen tremendous growth in the vitamins and supplements market segments that offer immune support. Areas such as vitamins B12, C, and D; herbs such as elderberry and echinacea; and minerals like zinc, iron, and magnesium are all up by strong double–digit rates, as consumers use these products regularly to maintain good health and try to avoid coronavirus and other illnesses.
What do you think is the impact of COVID-19 on wellness product categories?
Doskow: It’s pretty significant, as consumers have plenty of time to discover products to keep them healthy and feeling good. Sales point to positive growth for categories with a strong digital presence.
Mahecha: We will certainly continue to see strong growth in any categories that help improve immunity, although growth rates may taper off a bit after the coronavirus pandemic subsides.