Wellness is the overall fulfilment of an individual’s needs, which could range from basic physical health, nutrition and exercise to esteem- and aesthetic-based needs such as beauty, social lifestyle, mental and spiritual peace ( While “mental peace” refers to the ability to think through problems logically, “Spiritual” is the ability to understand right from wrong ) . Currently, the approach to Wellness is proactive rather than reactive. While Ayurveda, health foods and drinks and tonics have traditionally been integral to the Indian diet, Indians are now increasingly looking at new avenues of Wellness, in line with their proactive approach. In order to maintain and improve their Wellness, they engage in activities such as regular exercise, massage therapies as well as dietary and lifestyle counselling.
The overall wellness market in India estimated at INR 1,10,000 Crore in FY2017, with a growth rate of 13% -15%. Rejuvenation is the fastest growing segment with a growth rate of about 25%. Even alternate therapy products and services is a fast growing segment with India being the 2nd largest exporter of Ayurveda and alternative medicine in the world. The wellness sector is likely to generate nearly 3 million job opportunities.
With a growing number of Indians willing to pay big bucks to feel good, the country's fitness and wellness industry is blossoming. There is growing interest among entrepreneurs to start retreats and spas as there is demand.
The wellness offerings market has been segmented along hygiene, preventive, curative and enhancement needs of the consumer.
- Hygiene is the basic necessity to maintain personal cleanliness
- Preventive and Curative needs are aligned to prevent diseases, cure ailments and maintain a healthy lifestyle.
- Enhancement needs focus on improving personal appearance and self-confidence
Wellness Industry can be categorized as shown below:
- Salon and Beauty services
- Hair, Nails and Skincare Products
- Cosmetic Treatments
- Colour Cosmetics and Fragrances
Slimming and Fitness
- Fitness Equipment
- Slimming Products (Topical and Ingestible)
- Slimming / Weight Management Services
- Fitness Services
- Alternate Therapy services
- Alternate Therapy Products
- Wellness Food and Beverages
- Dietary Supplements
FICCI constituted its national committee on wellness in year 2009 and came up with a joint report along with E&Y to showcase the real potential of this sector. Since then FICCI has worked with many stakeholders to promote this sector through seminars, capacity development workshops, exhibitions and knowledge paper. FICCI also worked with QCI (Quality Council of India) to prepare the guidelines and standards for Wellness centers, which are implemented by NABH. FICCI is also working closely with NABH to bring updated version of these standards for their wider adoption and use.