The health and wellness industry is still amidst a perennial boom largely due to the 9 drivers of health consumerism.
Consumers are increasingly looking to online retailers as sources to buy healthy groceries, health supplements, and wellness products.
Despite the myriad of offers that already exist in the marketplace, there has never been a better time to be in this business sector.
You’ve probably heard the old saying, “The best time to plant a tree is 20 years ago; the second-best time to plant a tree is today.”
This certainly rings true for online businesses in the health and wellness space.
The following are 15 of the most trusted brands in health and wellness in 2020.
A billion-dollar company that has survived for over five decades of business, Weight Watchers is basically “old-school” when it comes to health brands. After a recent rebrand to WW, Weight Watchers still remains relevant and has embraced “applification” through their WW app which gives customers access to their coaches anywhere, without having to check-in in person.
There’s something to be said for being the top-visited fitness site on the web. Bodybuilding.com has captured an impressive share of the supplement market with its vast reach and its deep list of offers.
CrossFit is considered a pioneer in the new wave of elite fitness brands that emerged in the late 1990s. CrossFit created a “viral” fitness idea that helped them scale locations quickly—they’d opened 13 by 2005, and in 2016 there were more than 13,000.
Despite being a modestly-sized private health media company, Mindbodygreen has grown from a small blog to a huge authority in health and wellness with over 10 million monthly visitors and a multi-seven figure valuation. Mindybodygreen publishes lifestyle authority content from trusted voices across the health and wellness vertical.
Despite a predicted slowdown in growth year over year, there are more health and fitness app users than ever. As more and more competition enters the marketplace, the demand for high-quality tech options won’t wane.
Fitbit was acquired by Google for $2.1 billion in November 2019. As Apple and Google compete for the top spot, it begs the question of how other companies in the industry can drive innovation.
The luxury health market supports the increasing demand for clean products. With an increasing population adopting organic, vegetarian, and vegan diets, there’s a demand for supplements and products that fit the bill. Binto focuses on women’s health offering supplement products that are gluten-free, vegan-friendly, preservative, and filler-free.
Following suit with Binto, Vega offers plant-based protein supplements dedicated to making a positive impact. As part of the B Corp movement. As a certified b corporation, Vega must “meet the highest standards of verified social and environmental performance, public transparency, and legal accountability to balance profit and purpose. Privately held, Vega was acquired for $550 million in 2015.
Founded in 2014, BPI sports serves the bodybuilder demographic and is backed by private equity. With wildly popular offers and hundreds of positive reviews on Amazon across many products, BPI Sports represents the kind of opportunity that makes the health and fitness supplement industry such a strong business sector serving a very enthusiastic niche.
Currently valued at nearly $1 billion, the privately held SoulCycle represents luxury fitness at its finest. With a focus on strong employee and customer loyalty, SoulCycle is the definition of a highly trusted health brand. While they currently offer classes in their gyms, they’ve eyed Peloton as their in-home competition, so don’t be surprised to see this company pivot, especially after the impact the pandemic has levied upon the fitness industry.
Much like Binto’s focus on women’s health in the luxury wellness space, Quip focuses on an affordable high-quality product that appeals to a particular demographic: a minimalist brand of an electric toothbrush for millennials. Quip launched its product in Target in October 2018 and since then has capitalized on the “cheap chic” zeitgeist that Target is so well known for. Trust in brands like Quip signals a departure from the old guard
After its stock valuation fell below $300 per share in September 2020, Lululemon, the maker of the $100 dollar yoga pants is seeing things rebound in Q4. Founded in 1998, Lululemon Athletica is worth about $1.3 billion and has come a long way from just selling women’s yoga pants. Now they’re a fully realized lifestyle brand trusted by millions.
Not as senior as Weight Watchers, Bowflex has been in the direct marketing space since the mid-1980s with its in-home gyms. Today, Bowflex is valued at more than $1 billion and has sold over 2.5 million units to its fitness customers. While its traditional products have focused on resistance bars for weight machines, Bowflex has innovated with adjustable weight dumbells and kettlebells.
2020 has been a huge disruption to the fitness industry. Where companies like Nerd Fitness excel is through online coaching offerings that focus on at-home workouts. Their brand positioning also gives them a competitive advantage to serve their niche — the “nerdy” crowd who doesn’t feel at home in traditional sports gyms. While brick and mortar gyms have suffered thanks to the pandemic, online coaching programs like Nerd Fitness and Fit Body Bootcamp have found ways to serve the at-home population and thrive.
Under the helm of founder Joel Marion, BioTrust is a prime example of a direct to consumer supplement giant. Marion is doing a ten-figure per year business selling high-quality wellness products that consumers trust. BioTrust also wins trust in the marketplace through their charitable works, supporting organizations like the Make-a-Wish Foundation, water.org, Toys for Tots, and more.
As a community service-focused, employee-owned company with 40 years in the fitness and workwear industry, Superfeet focuses on a specific, narrow product and does it very well. Superfeet is a great example of thriving without diluting the brand.
The commonalities among highly trusted wellness brands are pretty simple, actually. It comes down to quality and care. Create and sell a quality product that helps people—and care about your customers and community.