Research and consulting firm GlobalData has stated that consumers are becoming more concerned with the state of their mental health and happiness.
The firm’s latest report shows that whilst 70% of consumers are planning on improving their heart health over the next 12 months – an even higher percentage (77%) have plans to improve their mental health and happiness over the same period.
The research shows that there is now a growing demand for products addressing other types of health beyond diet and fitness. A healthy lifestyle is constituted by feelings of physical fitness as well as a broader sense of emotional wellbeing, the report states.
A number of products such as smart devices, fast-moving consumer goods (FMCG), innovations addressing issues related to overall wellbeing are becoming increasingly evident in the market.
Lia Neophytou, consumer analyst at GlobalData, said: “As health continues to be viewed in a much more holistic way, brands are recognising the value in addressing health concerns that derive from busy lifestyles, time-scarcity, and associated stress levels.”
Neophytou continued: “Manufacturers have started producing wearable and smart devices that, as well as counting steps and calories, monitor and manage sleep quality, stress levels, and other lifestyle factors. For example, the ‘INYU’ by SmartCardia is a handheld smart device that can sense emotions and track factors such as heart rate activity and breathing in real time, allowing consumers to identify and effectively address their emotions.
“This highlights the drive for more personalised, innovative wearable devices that can meet concerns pertaining to emotional and mental wellbeing currently under-addressed by conventional products.”