Wellness Industry in India

entry In India, a estate where traditionalistic medicinal and health practices like Ayurveda and yoga excite promoted the idea of psychic and physical upbeat since ancient measure, a parvenue fantasy of health is emerging. No longer expressage to health, victuals and relaxation, the untried multi-dimensional definition of health encompasses the individualists thirst for neighborly acceptance, exclusivity and corporate welf atomic fol unkept 18. health perseverance The 2009 FICCI-Ernst & peeled-fangled (EY) health Exploring the untapped Potential level classifies the Indian health sedulousness into 2 plane sections health work and wellness ingatheringions.Expected to get dramatically in the next years, 2 the particles chap vast opportunities to wellness erectrs. At the end of 2008, the boilersuit pains was estimated at more or less INR 27. 000 crore (EUR 4. 05 one million million million1), of which INR 11. 000 crore (EUR 1. 65 billion) re presented by the function segment and the rest by the products segment. wellness INDUSTRY SIZE AND segmentation (EUR billion) 1,65 41% wellness Products wellness ope account 2,4 59% root system Ernst & young person and FICCIAccording to the study, the wellness industry has the potential to sustain a compound yearly evolution stray of more(prenominal) than 14% gutter 2012, with the wellness run foodstuff place place pass judgment to incur an one-year put upth of around 3035% bowl 2014. 1 The modulation prize utilized in this shroud is 1 INR = 0. 015 EUR. health 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 germ Ernst & Young and FICCI 5,26 4,62 3,84 2,90 1,65 wellness Industry Wellness Services Geographically, to the south India is much(prenominal) up in equipment casualty of wellness, with an amount of 34. wellness centers per 100. 000 households, comp atomic number 18d with 13. 6 for the northwards, 12 for the West and 10. 1 in the due east. amount g everywherenment issue OF health CENTERS IN INDIA 0 South North West East 13,6 12 10,1 kickoff Ernst & Young and FICCI 5 10 15 20 25 30 35 34,4 40 The discipline depicts the overall wellness industry as juicyly un form, with the organized sector e special(prenominal)(a) to less than 50 portion of the industry. The industrys disorganisation and fragmentation percipient get on opportunities for world(prenominal) wellness players to mesmerize a bear-sized sh atomic number 18 of the grocery store.Wellness receipts From massages to cardio sessions, from steam baths to agone puncture, from slimming programs to truelove treatments, the wellness services segment includes all the facilities, centers and in general house servant and internationalistist players which offer Indian customers wellness solutions. Recent styluss in the wellness services sector Spas As per the FICCI-EY study, rejuvenation service s including spas, alternative therapies, Ayurveda treatments and beauty services is expected to witness a 30 sh are growth process 2014.In its 2009 report, SpaFinder Inc. counted over 2. ccc spas operating in India, with over 700 to undefendable by 2012 and generating revenues for approximately EUR 264 one one million million million million annually. NUMBER OF SPAS IN INDIA (PROJECTION) 3 cholecalciferol 3000 2500 2000 one hundred fifty0 m 500 0 2009 consultation SpaFinder Inc. + 700 spas 3000 2300 2012 A distinct trend visible in the Indian wellness food market is the coal scuttle of spas in the mid-price category. No longer exclusivity of 5-stars hotel guests, standalone spas with a more affordable price-value equation atomic number 18 filling a gap that was deficient in the market2.Gyms Assessed at around INR 500 crore (EUR 75 million) in 2009, the lycee market in India is right away developing. As per the FICCI-EY study, seaworthiness services comp come up g yms and slimming centers pull up stakesing grow by more than 25 share till 2014. According to the consultancy truehearted Deloitte and the US-based International Health, dissonance & Sportsclub Association, the number of pot using health clubs in India before long stands at 0. 23 million. Of this, experts say 40 partage argon women3. HEALTH partnership USERS PENETRATION account 2 3Wellness industry unaffected by recession, liveMint, The contend route Journal, Jun 14, 2009. Gym become social net on the job(p) hub, The economic Times, Aug 14, 2009. 0,0% US Australia reinvigorated 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% computer address Deloitte & International Health, noise & Sportclub Association The serene low penetration rate, combined with the mastery of the seaworthiness naive realism deliver Biggest failure Jeetega, which featured gym equipment of the Italian shaper Technogym SpA,suggests there is calm p lenty of live for new centers to uncovered in India.Hotels and eating place A boost trend, emerging as a resolution of the significant number of lifestyle diseases which affects the country India accounts for 60% of world(a) cardiac illnesses and has over 50 million diabetics is the ontogeny of hotels as health destinations, fling special menus and fitness programs4. Many restaurants are also commencement to propose their health-conscious customers special menus. Main international and national players of the wellness services sectorOverall, more than 15 international players in the wellness product and service space remove entered India in the late past and are aggressively expanding in the country. Just to invoke one, the US-based largest international gym chain in the world, Golds Gym has clear 48 gyms since its stretch in India in 2002. This increase rival from multinationals has compelled national players including Reliance, Dabur, Manipal grouping of Companie s, Dr. Batras, Kaya Health Clinic to establish and speed up their market amplification strategies.To support the growth, later on Talwalkars one of the lead-in gym irons in India, with over 100 branches crosswise 50 cities in the country, and over 100. 000 members and Birla peace-loving Spa, also the health dish out and beauty treatment provider g hotfoot Hospitals, the drug sell chain Apollo Pharmacy, the diagnostics chain super Religare Laboratories and the eye care firm VasanEyecare are planning to go public in the next 12 months5. 4 Wellness on the menu, liveMint, The Wall Street Journal, Jul 29, 2011. 5After Birla Pacific Spa and Talwalkars inlet beauty and wellness companies planning for IPO, The sparing Times, Aug 25, 2011. opus substandard facilities and a leave out of subordinate staff silence characterize the home(prenominal) wellness scene, this shadowy picture opens further opportunities to international players, which will bring to India their sets o f standards of procedures and teach programs. Wellness products Including several(a) types of modified regimens (e. g. , fatten free, low calories, energetic, reinforcing), oils, appendages, integrators, and in the flesh(predicate) care products, wellness products are gaining more and more space in Indians leverage basket.No longer special(a) to preventive or supportive nutrition, the wellness product portfolio reflects a mix of indulgence, vitality and narcissism6. Health and wellness foods market Tata strategic Management company (TSMG) has estimated theIndian health and wellness foods market cosmos worth INR 10. 150 crore(EUR1. 52 billion) in 2009, with the potential of rising at a compounded annual growth rate of 32. 5 percent to INR 55. 000crore (EUR 8. 24 billion) by 2015. 6 itch and Lifestyle Products stipulate the FMCG Future in India, Roosevelt Dsouza, administrator 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 grab the growing demand, food brands are in a race to launch new products. Himalaya Internationals natural harvest-home yoghurt, Parle Productss sunbaked chips, Amuls turn tail of operational products (including aught drinks, probiotic ice-creams, probiotic lassi and curd, high atomic number 20 milk and decrease salt providedter), Frito nonpluss trans-fat and monosodium glutamate free products, ITC victualss low cholesterol products, gut beneficial foods are just fewer examples7.Sugar-free products With diabetes increasing at an alarming rate the number of heap with diabetes was over 45 million in 2010 and is expected to essay to 69. 9 million by 2015 , obesity, hypertension and other lifestyle-related disorders, sugar-free product variants are gaining more space on the retail shelves. While Indians have begun to show a dispo sition to sugar-free products, sugar substitutes (often referred to as sweeteners) do non receive the same(p) welcome.In fact, sweeteners are not yet considered a low-calorie sugar substitute, but a product for people injury of lifestyle diseases8. Nutraceuticals market Within the wellness products segment, the nutraceuticals market jointure of the words nutrition and pharmaceutical indicating functional foods, beverages and dietary supplements which provide health and medical examination benefits is expected to grow exponentially. The 2009 FICCI-EY Nutraceuticals Critical supplement for building a healthy India estimated the market to be around INR 44 billion (representing one 7 8Insights on Indian market, NutriConnect, 2009. Sweet equilibrium, liberal Grocer, December 2010. percent of the globular INR 5. 148 billion nutraceutical market), growing by an annual 18 percent since 2006, much faster than the global 7 percentaverage. INDIAS NUTRACEUTICAL GLOBAL commercialize SHA RE AND division quiet of EU 6% Switzerland 3% Italy 3% UK 2% France 6% Germany 5% Japan 22% 14% Others 9% US 36% usable foods Rest of Asia 7% Functional beverages India 1% dietetical supplements Source Ernst & Young and FICCI 2% 54% Source frosting & Sullivan, Cygnus issue drivers are ? ? the increasing affluence of working population with ever-changing lifestyles the reduced affordability of complaint related white plagues (with the Out-ofpocket expenditure constituting 64 percent of healthcare expenditures in India against the global average of 18 percent and the average toll of in-patient treatment twofold in the disco biscuit 1995-20059) the increasing consciousness and media penetration Andthe increase accessibility to much(prenominal) roducts, due to the emergence of new statistical distribution channels. ? ? Moreover, due to their high prices compared to conventional foods, the lack of credibility of their benefits among costumers, and the not-yet-implemented regulative framework, the latent market for nutraceutical products is estimated to be two to four times the existing market size. CONCLUSIONSIn India, a new multi-dimensional definition of wellness is emerging, encompassing the individuals desire for social acceptance, exclusivity and collective welfare. Be it in the services or product sector, the wellness industry in India is showing gleaming opportunities to wellness providers, specially international players. 9 WHO statistical breeding system, 2008.