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With health and wellness on everyone’s minds more than three years after the Covid-19 outbreak, consumers continue to pour money into the category. According to McKinsey & Company, people now spend an estimated $1.5 trillion globally each year on products and services designed to make them feel better—and they’re only expected to spend more in the future.
The situation presents plenty of opportunity for companies like Bayer, the 160-year-old German manufacturer behind brands such as Aleve, Claritin and Alka-Seltzer, but also more challenges due to an increase in competition.
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