All over the world, wellness, as an industry,
has been the dernier cri of all times. With
the ancient practices of Ayurveda and Yoga
presenting the concept of healthy body and
mind, the industry, over time, has evolved
far wider from its scattered and
unstructured nascent form.
It is widely acknowledged that while the
traditional practices of ‘yog’ and ‘ayurved’
can be traced back for their roots to India,
different parts of the world have been
propounding various forms of health and
wellness.
Over the years, with increased awareness
and consciousness among individuals
coupled with changing lifestyles, the
wellness industry has grown to become a
comprehensive ecosystem.
The growing prevalence of chronic lifestyle
diseases across the globe is one of the key
factors driving the growth of the market.
Owing to the sedentary lifestyles and hectic
schedules, the prevalence of diabetes,
blood pressure, asthma, arthritis, cancer,
dementia and other stress-related
disorders has increased significantly. This
has encouraged the masses to adopt
various healthcare activities, including
yoga, meditation and athletics.
Furthermore, the emerging trend of using
wearable devices, such as fitness bands
and trackers, is also providing a boost to
the market growth.
Other factors, including rapid urbanization
and rising disposable incomes, along with
the increase in the number of health-
conscious consumers across the globe, are
projected to drive the market further.
Looking forward, the publisher expects the
market to register a CAGR of around 4%
during 2020-2025.
Particularly, compared to the last few
decades, these last few years have seen a
massive change in consumer consciousness
and wellness mindset across the globe. This
has impacted their daily decision making in
terms of consumption of both goods and
services.
Reflecting across all domains related to
health, fitness, recreation and lifestyle, this
shift from wellness being a luxury to
becoming an essential lifestyle value, from
episodic interactions to a more intentional
one, from a one-time purchase to a holistic
lifestyle integration, has spurred
exponential growth for the sector.
