Indian Wellness Market: Key Success Factors, Growth Trends & Forecast 2020-2025
November 17, 2021
Stratview Research has recently published a report on Indian Wellness Market segmented by End User Pool (Fitness Boutique, Community Gymnasium, Exclusive Health Clubs, Spiritual Camps, Home, Hotels Fitness Centre, Office Fitness Centre and Others), By Equipment (Connected Equipment/Smart Devices, High Intensity Interval Training (HIIT) Equipment, Strength Training Equipment, Cardiovascular Training Equipment, Others) By Mode of Training (Online, Group Training/Offline, Personal Training), By Choice of Fitness Regime (Yoga and Gym), By Fitness Supplement Market (Nutraceuticals, Proteins, Others) and by Type of Supplement (Natural and Synthetic), By Region (North India, West India, South India and East India),Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2019-2025. The objective of the market experts at Stratview Research is to conduct a thorough analysis of the ‘Indian Wellness Market’ and put a detailed knowledge about the industry and business attractiveness, revenue, market size, segmentation, growth and restraining factors so that the user gets in depth information about the industry and the business from a past, current and a future perspective and can potentially invest capital for further growth.
Additionally, the report covers a variety of established and emerging start-ups and organisations operating in the industry. As a result, the report provides a comparative analysis by presenting the user with various aspects of the markets discussed in the report.
Covid-19 Analysis -
Nationwide lockdowns have impacted, and halted productions, supply of raw materials sourcing disruption has affected the balance in the supply of finished products. This report aims to cover all the aspects of how the pandemic has affected the business in the Indian Wellness Market and how has the subsequent lockdowns inflamed the industry scenario and what are the areas that needs urgent action and re-planning.
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Segment-wise analysis
The report encompasses in-depth segmentations like regional segmentation, segmentation by product types, application-wise segmentation, geographical segmentation and thereby gives the user an overview of the effectiveness of the segmentation by various classes.
The Indian Wellness Industry: by End User Pool
Based on a published report, over 2,200 men and women, between the age group of 18 and 35 years, were surveyed by a leading sports brand across the top nine cities — Delhi-NCR, Mumbai, Bengaluru, Kolkata, Pune, Hyderabad, Chennai, Ahmedabad and Chandigarh. The results showed varied preference among millennials when it comes to fitness. The report from Stratview explores the demands, gaps and opportunities in the light of Fit India Movement 2019, when this trend is expected to gain more momentum, leading to higher demand of equipment, supplies and nutritional supplements among end users.
Major gym chains were born during the 80s, including Gold’s Gym, 24 Hour Fitness, LA Fitness, and the Bally Company. They targeted two archetypes: weight lifters and aerobics fans. Things have changed in 2019 and with the announcement of Fit India movement, this market is all set to bloom. In India, people have preferences for fitness centres such as home, office, boutique, exclusive and so on. Depending on the spending power of Indians, people opt for different level and centres. The report from Stratview has explored the major cities to create a three sixty overview for manufacturers, suppliers and new market entrants.
The Indian Wellness Industry: By Equipment
Amer Sports Corporation, Brunswick Corporation, Fitbit, Core Health and Fitness, ICON Health & Fitness, Inc., Impulse (Qingdao) Health Tech Co. Ltd., Johnson Health Tech Co. Ltd, Nautilus, Inc., Technogym S.p.A., Torque Fitness, and TRUE Fitness Tech are some of the leading equipment providers in gym segment, globally. The players who are focusing on India market have to understand the local or domestic competition that exists in 2019 and also the demands and gaps of the market.
The Indian Wellness Industry: By Mode of Training
The Indian fitness industry is undergoing a revolution of sorts spiked by the increasing incidences of obesity and diabetes. If we look around, we will find that weight loss advertisements are rampant everywhere. This is one of the key reasons as to why health clubs and gym memberships are growing. Spending on fitness was earlier seen as a luxury, but now it is a way of life. Not just in the urban areas and cities, but also in tier 2, tier 3 cities, towns and even in the villages, where people are increasingly opting for wellness and fitness choices.
The fitness market in India was estimated at around 1.11 Billion USD in 2017 is growing in double digits. Easy access to the internet, TV and technology have brought about a paradigm shift in perspective of woman taking to fitness and health seriously. Rising cases of osteoporosis and lowering of bone density have catapulted women to take up health, diet and fitness in a major way. Online or offline fitness regime is more matter of choice. The suppliers of equipment, nutrient supplements and others needs to study these aspects before marketing their products in India.
The Indian Wellness Industry: By Choice of Fitness Regime
Yoga or Gym? That’s a question every new fitness lover asks the expert. With yoga one can expect increased flexibility, toning and strengthening. The person does not need any equipment, just some space around to practice the various positions of yoga or maybe a trainer or guru around. That saves the travel time one needs to go to a gym.
There are others who believe that gym helps tone their body in a better way. Celebrities in India are divided between practicing yoga and going to gym. Not everyone can afford the membership of gymnasiums. Gym sessions act more or less on the outer appearance and tone the muscles. A gym workout mostly has only physical benefits and rarely offers mental stimulation. While addressing the gaps and needs of the fitness industry in India, it is important to understand the inclination of the user and this report serves the same purpose.
Market Insights
Economic Times, one of premier print publishers in India claimed that if ‘Swachh Bharat’ was one of the resounding mantras of the Modi government during its first tenure, ‘Fit India’ is set to be one in its second stint. This campaign is expected to be coordinated by the sports ministry, this mission will see ministries of information and broadcasting, human resource development, panchayati raj and rural development, health and youth affairs also involved in the mission. The demand is expected to be huge and many folds as the Government of India is all set to motivate India’s 130 crore population henceforth. This brings immense opportunity for market players. Not only fitness coaches and operators will benefit from this movement, the suppliers of gym equipment, Nutrient Suppliers for Fitness, Manufacturers and many more stakeholders are expected to gain from this movement.
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