Masawa Minute 105
$1.8 trillion wellness shift | Will AI transform impact finance? | + More! đź’Ž
This is the Masawa Minute — mental wellness, social impact, and impact investing snippets from what we’ve read and created in the last month + where you can get active.
As the first (and admittedly, the longest-feeling) month of the year draws to a close, we’ve all settled back into our routines. Therefore in this edition of the newsletter, we’re looking into the trends that will shape our work in the coming year. From innovative approaches in mental health and wellness to the latest developments in social impact and impact investing, there’s something for everyone. Enjoy!
Attend
We have an exciting opportunity for you! Our good friend Nadja from ConsciousU is launching another round of the transformative CU*money online coaching program starting on February 28, 2024. It’s designed to help you redefine your relationship with money and address any challenges you face in this area, both personally and professionally.
Do you find yourself in recurring conflicts about money? Is your self-worth tied to financial remuneration? Do you struggle with feeling stuck or disempowered? If you answered “yes” to any of these, or simply want to improve your financial wellbeing, CU*money is for you.
The registration closes on February 16, 2024, so don’t wait too long! More information about the program and registration can be found here — join today to explore and transform your relationship with money, and learn to rewrite your financial story.
Impact Linked Compensation Report
We’re thrilled to share the Impact Linked Compensation Report, a project we were proud to have been a part of. The report explores the integration of impact into organizational structures and investment processes and is the result of extensive research and collaboration, thanks to the dedicated efforts of incredible people at the Tipping Point on Impact Investing and the ImPact.
The report not only highlights the growing prevalence of Impact Linked Compensation (ILC) but also serves as a valuable resource for those looking to implement these practices in their own work. We can also promise this isn’t the last you’ll hear from us on this subject — stay tuned for exciting things to come!
This Week’s Story
The future of wellness: From biomonitoring to gut health, these are the predictions for 2024
The McKinsey Future of Wellness survey has shed light on some fascinating trends within the $1.8 trillion global wellness market, expected to shape the coming year. It highlights an increasing focus on health and wellness — the US market alone, now estimated to be worth $480 billion and growing by 5–10% per year, reflects a broader global movement. This surge is (at least partially) driven by Gen Z and millennial consumers, who are outpacing older generations in purchasing wellness products and services encompassing areas like health, sleep, nutrition, fitness, appearance, and mindfulness.
More people than ever are prioritizing wellness. Emerging priorities include at-home health management, the rise in the use of biomonitoring and wearable technologies, and the trend towards personalized wellness products enhanced by generative AI and biometric data. Additionally, there’s a noticeable shift in preference from natural or clean wellness products to those with clinically proven ingredients, particularly in the US and the UK. Moreover, doctor recommendations are gaining significant traction in influencing consumer health decisions, countering the unreliability of influencer marketing. This trend is especially prevalent in domains such as mindfulness and sleep.
Earlier research also reveals several emerging growth areas in the wellness space. Those include women’s health, healthy aging, and, importantly, gut health. Over 80% of respondents from China, the US, and the UK consider gut health highly important with more than 50% intending to prioritize it more in the coming years. As increasingly more studies highlight connections between gut health and mental wellbeing, this marks a positive development. All in all, as people become more proactive about their health, the wellness industry is evolving to meet these changing needs. The products that offer personalized, scientifically backed, and convenient solutions, are poised for success in this dynamic market.
The trends defining the $1.8 trillion global wellness market in 2024
What else we’re reading…
💸 AI is continuously permeating every aspect of our society, and the impact finance sector is no exception — from automating investment analysis to improving impact measuring, it promises to transform the way funding is done. However, turning this vision into reality will require careful adaptation to avoid ethical pitfalls.
🌍 The fifth edition of the Impact Fund Universe Report was just published this month, offering a glimpse into the state of the impact fund universe and the evolution of impact investing amid global risks like climate change and geopolitical instability. In 2023, 153 new funds emerged resulting in total committed capital increasing by €50 billion, which underscores the growing momentum in the sector.
🏔️ Sifted has shared some thoughts on what we can expect from the healthtech sector in 2024. The experts anticipate major trends like proactive healthcare startups, increased AI integration, and a rise in healthcare mergers and acquisitions, signaling a transformative year.
🌱 At the World Economic Forum 2024, which concluded nearly two weeks ago, a new report highlighting the impact of climate change on human health was released. It outlines an updated strategy for climate-resilient health systems, adaptation planning, infrastructure resilience, and innovative research while emphasizing the importance of public-private sector collaboration.
💼 In 2023, businesses navigated inflation, geopolitical turmoil, and DEI issues. Looking ahead, researchers highlight nine trends reshaping the future of work — among them, of course, is increasing mental health support offerings, but it also includes turning to more creative employee benefits, four day work weeks becoming more routine, and other exciting stuff.
