Wellness Service Market in India to grow due to changing consumer lifestyle
Posted Apr 07 2010 12:27am
Bharatbook added a new report on " Wellness Services Market in India 2010 " covering one of the emerging markets in India with strong growth prospects. This report is a part of Hospitality Industry Series.
Wellness Services Market in India 2010
This report covering an industry which is expected to witness phenomenal growth. The rise in discretionary expenditure and changing consumer lifestyle is expected to fuel the demand for wellness services. The wellness sector in India is witnessing the entry of global players to capitalize on the rising growth opportunities in the market. The Wellness Service Market is valued at INR 110 bn in 2009 and is forecasted to grow at about 33%. Market comprises of three segments namely, beauty and rejuvenation, slimming and fitness, and alternative treatments. ( http://www.bharatbook.com/detail.asp?id=133879&rt=Wellness-Services-Market-in-In )
The overview section provides an introduction to the market including the estimated market size, growth, and the breakdown of the various segments. An analysis of drivers reveals that sedentary lifestyle increasing incidence of chronic diseases, increase in discretionary expense, growth in tourism, changing consumer lifestyle, government initiatives and growing awareness in corporate houses is driving growth in this sector. The key challenges identified are competition from unorganized players, lack of regulations and standards and lack of industry incentives.
The report discusses the current market trends including entry of international players, penetration in tier II and tier III cities, introducing in-house wellness products, participation of allied industries, increase in male clientele, emerging varieties of spas, emergence of training academes. The competitive landscape includes the profile, expansion plans of the domestic and foreign players. The report also covers other key developments in the sector.