Wellness Industry in India
INTRODUCTION
In India, a country where traditional medicinal and health practices like Ayurveda and yoga have promoted the idea of mental and physical wellbeing since ancient times, a new concept of wellness is emerging. No longer limited to health, nutrition and relaxation, the new multi-dimensional definition of wellness encompasses the individual’s desire for social acceptance, exclusivity and collective welfare.
WELLNESS INDUSTRY
The 2009 FICCI-Ernst & Young (EY) Wellness – Exploring the Untapped Potential report classifies the Indian wellness industry into two segments: wellness services and wellness products. Expected to grow dramatically in the next years, both the segments offer great opportunities to wellness providers. At the end of 2008, the overall 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 services segment and the rest by the products segment.
WELLNESS INDUSTRY SIZE AND SEGMENTATION (EUR billion)
1,65 41% Wellness Products Wellness Services 2,4 59%
Source: Ernst & Young and FICCI
According to the study, the wellness industry has the potential to sustain a compound annual growth rate of more than 14% till 2012, with the wellness services market expected to witness an annual growth of approximately 3035% till 2014.
1
The conversion rate utilized in this report 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 Services
Geographically, South India is much ahead in terms of wellness, with an average of 34.4 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
In India, a country where traditional medicinal and health practices like Ayurveda and yoga have promoted the idea of mental and physical wellbeing since ancient times, a new concept of wellness is emerging. No longer limited to health, nutrition and relaxation, the new multi-dimensional definition of wellness encompasses the individual’s desire for social acceptance, exclusivity and collective welfare.
WELLNESS INDUSTRY
The 2009 FICCI-Ernst & Young (EY) Wellness – Exploring the Untapped Potential report classifies the Indian wellness industry into two segments: wellness services and wellness products. Expected to grow dramatically in the next years, both the segments offer great opportunities to wellness providers. At the end of 2008, the overall 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 services segment and the rest by the products segment.
WELLNESS INDUSTRY SIZE AND SEGMENTATION (EUR billion)
1,65 41% Wellness Products Wellness Services 2,4 59%
Source: Ernst & Young and FICCI
According to the study, the wellness industry has the potential to sustain a compound annual growth rate of more than 14% till 2012, with the wellness services market expected to witness an annual growth of approximately 3035% till 2014.
1
The conversion rate utilized in this report 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 Services
Geographically, South India is much ahead in terms of wellness, with an average of 34.4 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