Health and wellness represents a huge opportunity for consumer goods companies. However, Robin Sherk, director, consumer & retail for the research firm CB Insights argues in a recent article that many companies need to adjust the way they are approaching the category.

“To truly capitalize on this multi-trillion dollar opportunity, we need more than this simplistic health and wellness framing, which glosses over the range of consumer demands and pockets of opportunity,” Sherk said. She suggests looking at the following six “lenses” across consumers’ health and wellness demands.

Mental & Behavioral Health—This area reaches across the spectrum, from reducing stress to managing diagnosed disorders. As stigmas diminish, we are seeing more startups focused on addressing mental health concerns.

(Clients can see a market map of 50+ startups.)

Mental wellness is one top Wellness trend of 2019. A variety of emerging startups, such as Moon Juice and HUM Nutrition, offer targeted self-care remedies to help manage stress.

Sleep Health—About one-third of U.S. adults do not get sufficient sleep, and the sleep market opportunity is expected to reach $84B globally by 2021.

Everything from beverages to wearables is getting in on this trend. (This client brief maps 55+ startups using technology for sleep disorder management.)

Gut Health—This is the connection between what we eat, how we feel, and our health. As our microbiome continue to gain attention in the news, patents in the area span from disease diagnosis to dietary supplements.

Feminine Care & Sexual Health—The rising topic (covering reproductive health, fertility, sexual dysfunction, and menstrual care) is gaining attention, as P&G’s recent acquisition of This is L and Hims' unicorn status illustrate.

Technology is transforming what’s possible, from digital birth control aids to egg freezing. This report breaks down how technology is transforming women’s health in particular.

Financial Health—Nobody likes being in debt. But U.S. consumers have a whopping $13.2 trillion of household debt to manage. Startups recognize the opportunity to support this strain and give alternatives to payday lending. Examples include Brightside Benefit, which offers financial coaching and emergency loans, and Chime, a mobile banking app that offers a two-day paycheck advance. Watch for retailers to explore links to such services.

Performance Health—Includes enhancing physical fitness and focus. Fitness technology startups are notably rising, having already raised $1.3B so far this year, versus the $1.9B raised in all of 2018.

While Peloton is the top funded company pioneering connected workouts, this client-only market map brief breaks down the fitness tech landscape and identifies how tailored solutions and holistic services are on the rise.

Sherk points out that a common theme across each of these lenses is the rising focus on using technology to offer more personalized and convenient solutions. We’re familiar with these consumer needs in CPG and retail, meaning these industries are well positioned to lead. She recommends that mapping your company and brands’ potential connection across each of these six lenses may uncover fresh opportunities to serve wide-ranging health and wellness demands.