According to the new market research report by IMARC Group, The India health and wellness market is expected to exhibit a growth rate (CAGR) of 5.55% during 2023-2028.
What is the Health and Wellness Industry
Health and wellness represent the state of complete physical, emotional, spiritual, and mental well-being of an individual. It can be achieved by practicing regular exercises, living a healthy lifestyle, avoiding or limiting the consumption of junk food, etc. Some of the essential aspects of the health and wellness industry include personal care, nutrition, weight management, fitness, preventive or personalized medicines, etc. Besides this, several services based on wellness real estate, wellness tourism, health spas, thermal and mineral springs, etc., are also offered to consumers.
Health and Wellness Market Trends in India
The increasing prevalence of chronic lifestyle diseases, such as diabetes, high blood pressure, asthma, arthritis, cancer, stress-related disorders, etc., is among the primary factors driving the India health and wellness market. In addition to this, the sedentary lifestyles, hectic work schedules, and unhealthy food choices of consumers are further propelling the demand for health and wellness management services across the country. Moreover, the elevating adoption of various healthcare activities, including yoga, meditation, and athletics, is also positively influencing the market growth. Apart from this, the growing number of mineral spas operators that use specialized therapeutic waters, such as iodine-bromine and Malkinskaya mineral water, to treat numerous cardiovascular and circulation disorders, asthma, bronchitis, etc., is anticipated to fuel the India health and wellness market over the forecasted period.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
- The competitive landscape of the industry has also been examined along with the profiles of the key players.
The report has segmented the market based on product type and functionality.
Breakup by Product Type:
- Functional Foods and Beverages
- Beauty and Personal Care Products
- Preventive and Personalized Medicinal Products
Breakup by Functionality:
- Nutrition & Weight Management
- Heart & Gut Health
- Bone Health
- Skin Health
Breakup by Region:
- North India
- West and Central India
- South India
- East India
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