The Future of Indian Wellness Market in the forecast period (2018–2025) as predicted by Stratview Research

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s demands, maps opportunities and hurdles in the Indian Wellness Market realities and future possibilities for the forecast period of 2018 to 2025. The report segments and analyzes the market in the most detailed and comprehensive manner to provide a panoramic view of the market.

Highlights of the Report:

In August 2019, the government has opened doors to huge amount of opportunity and at the same time the finance ministry has allowed 100% FDI in retail which also allows small to mid-level players in Western and Indian market to enter the market with ease.

As per a sports ministry proposal, 2019 will focus on ‘physical fitness and mental wellbeing’. Year two of the mission will be dedicated towards ‘healthy food and eating habits’. The third year will emphasize on adoption of sustainable and environment-friendly lifestyle, while year four will look at healthy life style practices, health friendly goods and services, simple easy ways to keep diseases at bay. The report explores all the possible avenues which can open door for new players in the Indian market as well segments the market into North, East, West and South regions based on the demand, gap and opportunities that are expected to initiate from end of 2019 onwards.

Report Segment

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.

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 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.

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.

Source Link: https://www.stratviewresearch.com/520/india-wellness-market.html