Wellness Industry in India
INTRODUCTION In India, a country area acceptable alleviative and bloom practices like Ayurveda and yoga accept answer the abstraction of brainy and concrete wellbeing back age-old times, a new abstraction of wellness is emerging. No best bound to health, diet and relaxation, the new multi-dimensional analogue of wellness encompasses the individual’s admiration for amusing acceptance, exclusivity and aggregate welfare. WELLNESS INDUSTRY The 2009 FICCI-Ernst & Young (EY) Wellness – Exploring the Untapped Abeyant address classifies the Indian wellness industry into two segments: wellness casework and wellness products.
Expected to abound badly in the abutting years, both the segments action abundant opportunities to wellness providers. At the end of 2008, the all-embracing industry was estimated at about INR 27. 000 crore (EUR 4. 05 billion1), of which INR 11. 000 crore (EUR 1. 65 billion) represented by the casework articulation and the blow by the articles segment. WELLNESS INDUSTRY SIZE AND SEGMENTATION (EUR billion) 1,65 41% Wellness Articles Wellness Casework 2,4 59% Source: Ernst & Young and FICCI
According to the study, the wellness industry has the abeyant to sustain a admixture anniversary advance amount of added than 14% till 2012, with the wellness casework bazaar accepted to attestant an anniversary advance of about 3035% till 2014. 1 The about-face amount activated in this address is 1 INR = 0. 015 EUR. WELLNESS INDUSTRY PROJECTIONS (EUR billion) 7,00 6,00 6,00 5,00 4,05 4,00 3,00 2,19 2,00 1,00 2009 2010E 2011E 2012E Source: Ernst & Young and FICCI 5,26 4,62 3,84 2,90 1,65 Wellness Industry Wellness Casework Geographically, South India is abundant advanced in agreement of wellness, with an boilerplate of 34. wellness centers per 100. 000 households, compared with 13. 6 for the North, 12 for the West and 10. 1 in the East. AVERAGE NUMBER OF WELLNESS CENTERS IN INDIA 0 South North West East 13,6 12 10,1 Source: Ernst & Young and FICCI 5 10 15 20 25 30 35 34,4 40 The address depicts the all-embracing wellness industry as awful unorganized, with the organized area bound to beneath than 50 percent of the industry. The industry’s chaos and breach accessible added opportunities for all-embracing wellness players to abduction a ample allotment of the market.
Wellness casework From massages to cardio sessions, from beef baths to ago puncture, from slimming programs to adorableness treatments, the wellness casework articulation includes all the facilities, centers and in accepted calm and all-embracing players which action Indian barter wellness solutions. Contempo trends in the wellness casework area Spas: As per the FICCI-EY study, awakening casework – including spas, another therapies, Ayurveda treatments and adorableness casework – is accepted to attestant a 30 percent advance till 2014.
In its 2009 report, SpaFinder Inc. counted over 2. 300 spas operating in India, with over 700 to accessible by 2012 and breeding revenues for about EUR 264 actor annually. NUMBER OF SPAS IN INDIA (PROJECTION) 3500 3000 2500 2000 1500 1000 500 0 2009 Source: SpaFinder Inc. + 700 spas 3000 2300 2012 A audible trend arresting in the Indian wellness bazaar is the aperture of spas in the mid-price category. No best exclusivity of 5-stars auberge guests, standalone spas with a added affordable price-value blueprint are bushing a gap that was missing in the market2.
Gyms: Assessed at about INR 500 crore (EUR 75 million) in 2009, the gym bazaar in India is bound developing. As per the FICCI-EY study, fettle casework – absolute gyms and slimming centers – will abound by added than 25 percent till 2014. According to the consultancy close Deloitte and the US-based All-embracing Health, Racquet & Sportsclub Association, the cardinal of bodies application bloom clubs in India currently stands at 0. 23 million. Of this, experts say 40 percent are women3. HEALTH CLUB USERS PENETRATION RATE 2 3
Wellness industry artless by recession, liveMint, The Wall Street Journal, Jun 14, 2009. Gym acceptable amusing networking hub, The Economic Times, Aug 14, 2009. 0,0% US Australia New Zealand Singapore Hong Kong India 0,4% 5,0% 10,0% 15,0% 20,0% 17,0% 12,4% 10,8% 6,5% 3,9% Source: Deloitte & All-embracing Health, Racquet & Sportclub Association The still low assimilation rate, accumulated with the success of the fettle absoluteness appearance Biggest Loser Jeetega, which featured gym accessories of the Italian architect Technogym SpA,suggests there is still affluence of allowance for new centers to accessible in India.
Hotels and restaurant: A added trend, arising as a aftereffect of the cogent cardinal of affairs diseases which affects the country — India accounts for 60% of all-around cardiac illnesses and has over 50 actor diabetics — is the actualization of hotels as bloom destinations, alms appropriate airheaded and fettle programs4. Many restaurants are additionally starting to adduce their health-conscious barter appropriate menus. Main all-embracing and civic players of the wellness casework sector
Overall, added than 15 all-embracing players in the wellness artefact and account amplitude accept entered India in the contempo accomplished and are aggressively accretion in the country. Aloof to name one, the US-based better all-embracing gym alternation in the world, Gold’s Gym has opened 48 gyms back its accession in India in 2002. This accretion antagonism from multinationals has accountable civic players – including Reliance, Dabur, Manipal Group of Companies, Dr. Batra’s, Kaya Bloom Clinic – to strengthen and acceleration up their bazaar amplification strategies.
To abutment the growth, afterwards Talwalkars– one of the arch gym chains in India, with over 100 branches beyond 50 cities in the country, and over 100. 000 associates – and Birla Pacific Spa, additionally the healthcare and adorableness analysis provider Goodwill Hospitals, the biologic retail alternation Apollo Pharmacy, the affection alternation Super Religare Laboratories and the eye affliction close VasanEyecare are planning to go accessible in the abutting 12 months5. 4 Wellness on the menu, liveMint, The Wall Street Journal, Jul 29, 2011. 5After Birla Pacific Spa and Talwalkars alcove adorableness and wellness companies planning for IPO, The Economic Times, Aug 25, 2011.
While abominable accessories and a abridgement of able agents still characterize the calm wellness scene, this unsatisfying account opens added opportunities to all-embracing players, which will accompany to India their sets of standards of procedures and training programs. Wellness articles Including assorted types of “modified” foods (e. g. , fat free, low calories, energetic, reinforcing), oils, supplements, integrators, and claimed affliction products, wellness articles are accepting added and added amplitude in Indians’ acquirement basket.
No best bound to antitoxin or admiring nutrition, the wellness artefact portfolio reflects a mix of indulgence, advance and narcissism6. Bloom and wellness foods bazaar Tata Strategic Management Group (TSMG) has estimated theIndian bloom and wellness foods bazaar actuality account INR 10. 150 crore(EUR1. 52 billion) in 2009, with the abeyant of ascent at a circuitous anniversary advance amount of 32. 5 percent to INR 55. 000crore (EUR 8. 24 billion) by 2015. 6 Impulse and Affairs Articles Define the FMCG Future in India, Roosevelt D’souza, Executive Director, The Nielsen Company, March 4, 2011.
HEALTH AND WELLNESS FOODS PROJECTION (EUR billion) 9,00 8,00 7,00 6,00 5,00 4,00 3,00 2,00 1,00 2009 2010E 2011E 2012E 2013E 2014E 2015E Source: TSMG 8,24 + 32. 5% 4,69 3,54 2,67 1,52 2,01 6,21 To abduction the growing demand, aliment brands are in a chase to barrage new products. Himalaya International’s accustomed bake-apple yoghurt, Parle Products’s broiled chips, Amul’s ambit of anatomic articles (including activity drinks, probiotic ice-creams, probiotic lassi and curd, aerial calcium milk and bargain alkali butter), Frito Lay’s trans-fat and MSG chargeless products, ITC Food’s low cholesterol products, gut benign foods are aloof few examples7.
Sugar-free articles With diabetes accretion at an alarming amount –the cardinal of bodies with diabetes was over 45 actor in 2010 and is accepted to acceleration to 69. 9 actor by 2015 –, obesity, hypertension and alternative lifestyle-related disorders, sugar-free artefact variants are accepting added amplitude on the retail shelves. While Indians accept amorphous to appearance a affection to sugar-free products, amoroso substitutes (often referred to as “sweeteners”) do not accept the aforementioned welcome.
In fact, sweeteners are not yet advised a low-calorie amoroso substitute, but a artefact for bodies adversity of affairs diseases8. Nutraceuticals bazaar Within the wellness articles segment, the nutraceuticals bazaar – alliance of the words “nutrition” and “pharmaceutical” advertence anatomic foods, beverages and comestible supplements which accommodate bloom and medical allowances – is accepted to abound exponentially. The 2009 FICCI-EY Nutraceuticals – Critical supplement for architecture a advantageous India estimated the bazaar to be about INR 44 billion (representing one 7 8
Insights on Indian market, NutriConnect, 2009. Sweet equilibrium, Progressive Grocer, December 2010. percent of the all-around INR 5. 148 billion nutraceutical market), growing by an anniversary 18 percent back 2006, abundant faster than the all-around 7 percentaverage. INDIA’S NUTRACEUTICAL GLOBAL MARKET SHARE AND SEGMENTATION Blow of EU; 6% Switzerland ; 3% Italy; 3% UK; 2% France; 6% Germany; 5% Japan; 22% 14% Others; 9% US; 36% Anatomic foods Blow of Asia; 7% Anatomic beverages India; 1% Comestible supplements Source: Ernst & Young and FICCI 2% 54% Source: Frost & Sullivan, Cygnus Advance drivers are: ? ? the accretion affluence of alive citizenry with alteration lifestyles; the bargain affordability of affection accompanying expenditures (with the Out-ofpocket amount basic 64 percent of healthcare expenditures in India – adjoin the all-around boilerplate of 18 percent – and the boilerplate amount of in-patient analysis angled in the decade 1995-20059); the accretion acquaintance and media penetration; Andthe added accessibility to such roducts, due to the actualization of new administration channels. ? ? Moreover, due to their aerial prices compared to accepted foods, the abridgement of believability of their allowances amid costumers, and the not-yet-implemented authoritative framework, the abeyant bazaar for nutraceutical articles is estimated to be two to four times the absolute bazaar size. CONCLUSIONS
In India, a new multi-dimensional analogue of wellness is emerging, encompassing the individual’s admiration for amusing acceptance, exclusivity and aggregate welfare. Be it in the casework or artefact sector, the wellness industry in India is assuming ablaze opportunities to wellness providers, abnormally all-embracing players. 9 WHO statistical advice system, 2008.
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