LONDON, United Kingdom — Online business resource Startups.co.uk has revealed the top business ideas for 2017 and wellness plays a major role.
The report, which combines detailed research and analysis of emerging business and consumer trends, alongside insights from leading bodies such as Mintel and the Office of National Statistics, highlights the vast number of opportunities present in the wellness industry. Several wellness-related concepts including sugar-free drinks and alternative fitness make the cut.
Commenting on the report, Tim Sawyer, CEO of The Start Up Loans Company explained that trends in the startup industry can be a great indication of what is going to thrive in the wider market, while Megan Dunsby, features editor at Startups.co.uk, encouraged aspiring start-up founders to look to the report as a source of business inspiration.
Using the sugar-free drinks category as an example, Sawyer explained that tapping into growing demand for healthy alternatives can be a recipe for success. “Looking ahead this year, we’re keen to support more businesses introducing something new to an existing market,” he revealed.
Highlighting a range of concepts from big opportunities to the more obscure, for those looking to start a business in the UK, the report reaffirms the growing role wellness is playing in our everyday lives. A $3.7 trillion market globally, today the wellness industry covers everything from healthy eating, fitness, travel and beauty to workplace wellness, alternative medicine and mindfulness.
According to Dunsby: “Despite what you might think about the current economic climate, it remains a great time to start a business.” And, these particular wellness concepts are among the best business ideas for budding entrepreneurs to pursue in 2017……
A Danish concept that rests on the notion of enjoying life’s simple pleasures, over the last six months Hygge has exploded into mainstream culture.
According to a recent article by the Guardian, on Instagram there are almost 1.5m #hygge posts of falling leaves, bowls of pumpkin soup and babies wrapped in blankets, while Amazon’s best-selling books list showcases just how Hygge crazy consumers have become.
But, while critics may pass the practice off as a passing fad, the overall quest for mindfulness and mental wellness isn’t going anywhere.
With mental-wellness predicted to be the biggest future trend in wellness, startups that can offer consumers ways to tackle stress, depression and anxiety, and create innovative paths to emotional wellbeing and happiness are headed in the right direction.
With 50% of the food produced in the world currently going to waste, innovative startups that are taking action to help fix the crisis are set to dominate the wellness industry in 2017.
According to Mintel, businesses that can develop new and creative approaches such as the repurposing of foods near or slightly past their expiration dates into healthy affordable meals, or the creation of functional health ingredients from by-products of processing typically discarded, have the potential to tap into a huge market of ethically-minded consumers.
Snact; a range of snacks made from surplus ingredients is just one of many startups providing consumers with a convenient way to uphold their beliefs, while still generating a profit. And the brand’s founder Ilana Taub argues that now is the perfect time for her type of business to launch.
Mintel suggests that as consumers become more informed about the food waste epidemic, they’re starting to accept food that doesn’t meet cosmetic standards or has just passed its sell-by date, and innovative startups should be leveraging that.
Thanks to the forthcoming sugar tax bill in the UK, as well as the rise in consumer awareness surrounding the health implications of sugary drinks, the soft drinks category is undergoing an exciting transformation.
Already disrupting the market, startups like natural, sugar-free sparkling water brand, Ugly argue that consumers are actively searching for beverages that are natural, great-tasting and refreshing but without the added sugars.
In fact, fizzy drink sales have been declining steadily in recent years as more consumers move towards healthier options, and the trend is set to build even more momentum during 2017.
As the fitness industry and in particular boutique fitness, continues to ride a period of growth, competition in the market is rife. However, according to Startups.co.uk for business owners who can reinvent the wheel; “There are great business prospects for aspiring entrepreneurs to capitalise on ‘fitspiration’ and turn this trend into a profitable business.”
From HulaFit classes and aerial fitness schools to dance-based workouts, the potential is huge. “Creating my company around alternative fitness, I realised that there’s a huge interest, expansion and opportunity in this area,” House Of Voga founder Juliet Murrell told Startups.co.uk.
“With more and more ways for people to get lost in technology and work, taking time for yourself to exercise and look after yourself is becoming increasingly important,” she added.
Breaking new ground to launch the world’s first indoor biophilic gym, with his alternative fitness concept entrepreneur Matt Morley is combining real-world exercises with mindful movement to engage the brain. A model he hopes to scale in 2017.
Last year a report by Technavio highlighted the rise in awareness surrounding the health benefits of tea, and this awareness is set to continue having a positive impact on the U.K’s tea market in 2017.
For startups, those experimenting with new flavours, as well as functional ingredients such as T plus and Amanzi, are finding success by targeting a new generation of healthy, active consumers, and not just those already engaged with tea.
Capturing the attention of the market isn’t an easy task, but by meeting the demands of those wanting more from what they eat or drink, startups that can put a new and unique spin on tea have the potential to lead the category.