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NextGen Magazine

 
 

Gen Z and Millennials Are Powering a Wellness Boom—Even in a Slow Economy

By:
Emma Slack-Jorgensen
Published Date:
Apr 2, 2025

According to Business Insider, while much of the economy braces for a downturn, Gen Z and millennials are fueling a wellness surge that appears largely recession-resistant.

In a new report from Bank of America, younger Americans are consistently spending more on health and wellness—helping bolster the sector even as broader retail sales slow. 

The data shows Gen Z and millennial households are spending nearly three times more on fitness than baby boomers, with gym spending climbing 7 percent year-over-year—the largest increase in nearly two years.

From cold plunges to red light therapy, wellness trends are dominating Google search traffic and the rise of non-alcoholic beverages continues as younger generations shift away from traditional drinking habits. 

Analysts point to a growing generational preference for healthier, more mindful lifestyles. That focus is translating into strong support for wellness brands and businesses. These companies are attracting young and loyal users—even outperforming during previous recessions. 

In a time when many industries are scaling back, the wellness economy stands out. With Gen Z and millennials leading the charge, health-focused spending isn’t just a trend—it’s a growing market force reshaping how businesses prepare for the future.