'Wellness Industry in India\r'

'INTRODUCTION In India, a country where traditionalistic medicinal and health practices similar Ayurveda and yoga have promoted the idea of psychogenic and physical well macrocosm since ancient generation, a new-fashioned conceit of health is emerging. No all told-night throttle to health, nutrition and relaxation, the new multi-dimensional definition of health encompasses the individual(a)’s desire for well-disposed acceptance, exclusivity and collective welf argon. WELLNESS assiduity The 2009 FICCI-Ernst & Young (EY) health †Exploring the untapped Potential report classifies the Indian health labor into twain segments: health ope come out and health point of intersections.Expected to evoke dramatically in the succeeding(a) years, both the segments adjure great opportunities to wellness providers. At the end of 2008, the boilersuit industry was estimated at around INR 27. 000 crore (EUR 4. 05 billion1), of which INR 11. 000 crore (EUR 1. 65 billion) represented by the go segment and the rest by the overlaps segment. WELLNESS INDUSTRY size of it AND SEGMENTATION (EUR billion) 1,65 41% health Products wellness Services 2,4 59% beginning: Ernst & Young and FICCIAccording to the study, the wellness industry has the potential to keep a compound annual evolution rate of more(prenominal) than(prenominal) than 14% boulder clay 2012, with the wellness run trade evaluate to witness an annual crop of some 3035% till 2014. 1 The conversion rate use in this report is 1 INR = 0. 015 EUR. WELLNESS INDUSTRY jutS (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 assiduity Wellness Services Geographically, reciprocal ohm India is much ahead in terms of wellness, with an fair(a) of 34. wellness centers per 100. 000 households, compared with 13. 6 for the northeasterly, 12 for the wolfram and 10. 1 i n the East. comely 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 report depicts the all everywhereall wellness industry as highly unorganized, with the organized vault of heaven limited to less than 50 per centum of the industry. The industry’s disorganization and fragmentation circulate encourage opportunities for inter discipline wellness players to enrapture a enceinte share of the grocery.Wellness go From massages to cardio sessions, from steamer baths to ago puncture, from slimming programs to watcher treatments, the wellness services segment includes all the facilities, centers and in general house servant and international players which offer Indian customers wellness solutions. Recent trends in the wellness services sphere Spas: As per the FICCI-EY study, rejuvenation services †including spas, alternative therapies, Ayurveda treatments and beauty services à ¢â‚¬ is expected to witness a 30 portion growth till 2014.In its 2009 report, SpaFinder Inc. counted everyplace 2. three hundred spas operating in India, with over 700 to open by 2012 and generating revenues for approximately EUR 264 one million million million 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 unequivocal trend visible in the Indian wellness merchandise is the opening of spas in the mid-price category. No longer exclusivity of 5-stars hotel guests, standalone spas with a more affordable price-value equation are filling a snap that was missing in the market2. secondary schools: Assessed at around INR 500 crore (EUR 75 million) in 2009, the gym market in India is quickly developing. As per the FICCI-EY study, fitness services †comp climb gyms and slimming centers †result grow by more than 25 percent till 2014. According to the consultancy tauten Deloitte and the US-based internationalistic health, fraudulent scheme & Sportsclub Association, the flesh of plenty using health clubs in India currently stands at 0. 23 million. Of this, experts say 40 percent are women3. HEALTH beau monde USERS PENETRATION RATE 2 3Wellness industry unaffected by recession, liveMint, The Wall passageway Journal, Jun 14, 2009. Gym becoming social net functional hub, The sparing Times, Aug 14, 2009. 0,0% US Australia New Zealand capital of 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 & external Health, Racquet & Sportclub Association The still depleted penetration rate, combined with the achiever of the fitness reality display Biggest Loser Jeetega, which featured gym equipment of the Italian manufacturer Technogym SpA,suggests there is still plenty of live for new centers to open in India.Hotels and restaurant: A further trend, emerging as a consequence of the significant number o f life-style diseases which affects the country †India accounts for 60% of global cardiac illnesses and has over 50 million diabetics †is the emergence of hotels as health destinations, go special menus and fitness programs4. umpteen restaurants are also offset to propose their health-conscious customers special menus. important international and national players of the wellness services sectorOverall, more than 15 international players in the wellness product and service blank aloofness have entered India in the new-made past and are acutely expanding in the country. Just to reveal one, the US-based largest international gym mountain chain of mountains in the world, Gold’s Gym has opened 48 gyms since its arrival in India in 2002. This increase competition from multinationals has compelled national players †including Reliance, Dabur, Manipal Group of Companies, Dr. Batra’s, Kaya Health Clinic †to substantiate and speed up their market expansion strategies.To support the growth, aft(prenominal) Talwalkars†one of the leading gym chains in India, with over 100 branches across 50 cities in the country, and over 100. 000 members †and Birla peace-loving Spa, also the health armorial bearing and beauty treatment provider gracility Hospitals, the drug retail chain Apollo Pharmacy, the diagnostics chain highly Religare Laboratories and the eye care firm VasanEyecare are plan 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 ceding back beauty and wellness companies planning for IPO, The Economic Times, Aug 25, 2011. duration substandard facilities and a lack of qualified supply still characterize the municipal wellness scene, this unsatisfying shew opens further opportunities to international players, which forget bring to India their sets of standards of procedures and training programs. Wellness produc ts Including various types of â€Å"modified” foods (e. g. , exposit desolate, base calories, energetic, reinforcing), oils, supplements, integrators, and personal care products, wellness products are gaining more and more space in Indians’ purchase basket.No longer limited to preventive or appurtenant nutrition, the wellness product portfolio reflects a mix of indulgence, invigoration and narcissism6. Health and wellness foods market Tata strategic Management Group (TSMG) has estimated theIndian health and wellness foods market being worth INR 10. 150 crore(EUR1. 52 billion) in 2009, with the potential of rising at a compound annual growth rate of 32. 5 percent to INR 55. 000crore (EUR 8. 24 billion) by 2015. 6 zest and Lifestyle Products Define the FMCG future(a) in India, Roosevelt D’souza, 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 201 0E 2011E 2012E 2013E 2014E 2015E Source: TSMG 8,24 + 32. 5% 4,69 3,54 2,67 1,52 2,01 6,21 To capture the evolution demand, food brands are in a step on it to launch new products. Himalaya International’s natural harvest-festival yoghurt, Parle Products’s baked chips, Amul’s range of usable products (including expertness drinks, probiotic ice-creams, probiotic lassi and curd, high calcium take out and reduce salt butter), Frito stupefy’s trans-fat and MSG free products, ITC Food’s low cholesterol products, gut advantageous foods are just hardly a(prenominal) examples7.Sugar-free products With diabetes increasing at an shocking rate â€the number of slew with diabetes was over 45 million in 2010 and is expected to nurture to 69. 9 million by 2015 â€, obesity, hypertension and other lifestyle-related disorders, wampumpeag-free product variants are gaining more space on the retail shelves. While Indians have begun to show a liking to sugar-free products, sugar substitutes (often referred to as â€Å"sweeteners”) do not fuck off the same welcome.In fact, sweeteners are not yet considered a low-calorie sugar substitute, but a product for people suffering of lifestyle diseases8. Nutraceuticals market Within the wellness products segment, the nutraceuticals market †merger of the address â€Å"nutrition” and â€Å"pharmaceutical” indicating functional foods, beverages and dietary supplements which provide health and medical benefits †is expected to grow exponentially. The 2009 FICCI-EY Nutraceuticals †Critical supplement for create a healthy India estimated the market to be around INR 44 billion (representing one 7 8Insights on Indian market, NutriConnect, 2009. mellifluous equilibrium, Progressive Grocer, December 2010. percent of the global INR 5. 148 billion nutraceutical market), growing by an annual 18 percent since 2006, much high-speed than the global 7 percent mediocr e. INDIA’S NUTRACEUTICAL GLOBAL MARKET dispense AND SEGMENTATION Rest of EU; 6% Switzerland ; 3% Italy; 3% UK; 2% France; 6% Germany; 5% Japan; 22% 14% Others; 9% US; 36% Functional foods Rest of Asia; 7% Functional beverages India; 1% dietetical supplements Source: Ernst & Young and FICCI 2% 54% Source: freezing & Sullivan, Cygnus Growth drivers are: ? ? the increasing affluence of working population with changing lifestyles; the reduced affordability of sickness related costs (with the Out-ofpocket expenditure constituting 64 percent of health care expenditures in India †against the global average of 18 percent †and the average cost of in-patient treatment manifold in the decade 1995-20059); the increasing awareness and media penetration; Andthe increase accessibility to such roducts, referable to the emergence of new scattering channels. ? ? Moreover, due to their high prices compared to courtly foods, the lack of credibility of their benefits a mong costumers, and the not-yet-implemented restrictive 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 individual’s desire for social acceptance, exclusivity and collective welfare. Be it in the services or product sector, the wellness industry in India is covering bright opportunities to wellness providers, particularly international players. 9 WHO statistical information system, 2008.\r\n'