Report Summary

Millennials are emphasizing overall wellbeing by intertwining their top priority of managing their mental wellness with other aspects of physical health.

Lindsay Cameron, Analyst – Health & Wellness

Table of Contents

  1. Executive Summary

    • What you need to know
    • Consumer trends: key takeaways
    • Market predictions
    • Opportunities
  2. Consumer Insights

    • Consumer fast facts
    • Millennials are the  sandwich generation but they aren't totally unique
    • Caretaking responsibilities
    • Millennials manage health decisions for others more than any other generation
    • Graph 1: managing health decisions for others and self, by generation, 2024
    • Parents and non-parents equally assume roles as adult caregivers
    • Graph 2: managing health decisions for others and self, by Millennial parental status, 2024
    • Millennials increasingly forego parenthood but face inevitable decisions regarding ageing adults.
    • Graph 3: managing health decisions for other adults, by Millennial income, 2024
    • Health focuses
    • Millennials embrace total wellbeing through a variety of health focuses
    • Millennials embrace total wellbeing through  a variety of health focuses
    • Graph 4: focuses for health and wellness, Millennials, 2024
    • Mental health issues are the root of Millennials' sleep problems, and their motivation for seeking improvement
    • Graph 5: reasons for wanting to improve sleep, Millennials, 2023
    • Incorporating mental health into sleep marketing
    • Millennials have greater interest in  mental wellness-focused exercise options
    • Graph 6: attitudes and behaviors toward exercise – any agree (NET), by generation, 2023
    • Asics challenges the daunting nature of fitness culture
    • Using technology to help Millennials focus on exercise
    • Graph 7: attitudes and behaviors toward exercise – any agree (NET), by generation, 2023
    • Using technology to make isolated workouts more engaging
    • Older Millennials embrace sleep, hydration and nutrition
    • Graph 8: select focuses for health and wellness, by Millennial age group, 2024
    • Brands that incorporate mental health benefits into their products can enhance their appeal to young Millennials
    • Water and wellbeing are essentials for older Millennial women
    • Graph 9: focus on relaxation and hydration for health and wellness. by Millennial gender and age , 2024
    • Health priorities
    • Managing mental health and stress are Millennials' top health priorities
    • Graph 10: health measure prioritization, Millennials, 2024
    • Mothers' relaxation aid might not come in pill form
    • Graph 11: selected managing mental wellbeing or managing daily stress as a high priority, by Millennial gender and parental status
    • Millennials are prioritizing their gut health at the highest rate
    • Graph 12: selected treating gut health as a high priority health measure, by generation, 2024
    • Gut health products with other benefits
    • While embracing body positivity, Millennials still show the greatest focus on regulating their body weight
    • Graph 13: selected managing body weight as a high priority health measure, by generation, 2024
    • Graph 14: motivations to manage weight, by generation, 2022
    • Motivations for improving health
    • Millennials are motivated to improve their health as they prioritize overall wellbeing and aim to extend their lifespan
    • Graph 15: motivations for improving health (NET) any rank, Millennials, 2024
    • Mothers want to improve for their children, but they aren't "just" caretakers
    • Graph 16: desire to improve for others as a motivation for improving health (NET) any rank, by Millennial parental status and gender, 2024
    • Athleta highlights mom as an athlete
    • More men want more energy and to maintain their current health
    • Graph 17: selected desire for increased energy or maintaining my current health as motivations for improving health (NET) any rank, by Millennial gender, 2024
    • Black Millennials are motivated by positivity
    • Graph 18: selected desire to live a longer life or prevention of future health issues as motivations for improving health (NET) any rank, by Millennial race/ethnicity, 2024
    • Change in health measures
    • Millennials report committing more resources toward healthcare
    • Graph 19: Reported an increase in resources spent toward health for self and others, by generation, 2024
    • Millennials report increasing health spending more than any other group
    • Graph 20: increase in purchases and spending toward health , by Millennial caregiver responsibility status, 2024
    • Convenient solutions help Millennials find time for their health
    • Graph 21: reported an increase in time being spent for personal health needs, by Millennial caregiver responsibility status, 2024
    • Millennials are doing their own research
    • Graph 22: reported an increase in time spent researching for health information for self and others, by Millennial responsibility role status, 2024
    • La Roche Posay helps educate about skincare during chemotherapy
    • Helping calm Millennial worries
    • Graph 23: reported an increase in time spent worrying about personal health, by Millennial responsibility role status, 2024
    • Caregivers need emotional support and guidance
    • Graph 24: Reported an increase in time spent worrying about others' health, by Millennial responsibility role status, 2024
    • Millennial adult caretakers can benefit from education and support through media
    • Barriers to healthcare
    • Younger adults face more healthcare barriers compared to older generations, affecting many Millennials
    • Graph 25: barriers to healthcare, by generation, 2024
    • Millennials' self-reliance makes them a key audience for OTC and at-home diagnostics
    • Graph 26: reasons for using an at-home self-diagnostic test, Millennials, 2023
    • Help Millennial men make time for their health
    • Graph 27: Millennial barriers to healthcare, by gender and age, 2024
    • Millennials who are responsible for others struggle to find time for healthcare
    • Graph 28: barriers to healthcare, by Millennial responsibility role status, 2024
    • LGBTQ+ Millennials are prone to feeling unheard
    • Graph 29: barriers to health, by LGBTQ+, 2024
    • Attitudes toward healthcare
    • To Millennials, implementing technology is equally important to their health as maintaining relationships with friends or family
    • Graph 30: attitudes toward healthcare, by generation, 2024
    • Millennials use technology to manage their health the most
    • Graph 31: agree that they use technology to manage their health, by generation, 2024
    • Technology can provide the support that caretakers need
    • Graph 32: usage of technology to manage health, by Millennial responsibility role status, 2024
    • Centralized health solutions for sandwiched Millennials
    • Women opt for scheduling appointments online, but prefer in-person attendance
    • Graph 33: attitudes toward online healthcare, by gender, 2024
    • Millennials in roles of responsibility need help making their own health important
    • Graph 34: agree that others' health needs are more important than their own, by Millennials' responsibility for others' health types, 2024
    • Self care for those who don't have time for bubble baths
  3. Competitive Strategies

    • Launch activity and innovation
    • The world's first AI doctor's office
    • Brands stepping in to help caretakers
    • Millennials are approaching menopause
    • Marketing and advertising
    • Oura Ring connects more sleep and steps to feeling good and reducing stress
    • Looking back can be useful for moving forward
    • Opportunities
    • Time is of the essence, especially for Millennials
    • The addition of technology saves Millennials time and stress
    • Enjoyable, easier to implement health
    • How can brands help Millennials feel better?
  4. The Market

    • Market context
    • Market drivers
    • Millennials' financial outlooks are stagnant despite improving consumer confidence
    • Graph 35: opinions on financial future, by Millennials, 2024
    • Graph 36: consumer sentiment index, 2021-24
    • Millennials will be responsible for the ageing population
  5. Appendix

    • Market definition
    • Consumer research methodology
    • Generations
    • Abbreviations and terms

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