In India, wellness is a concept which has been in existence since ancient times. While most of the ancient wellness concepts have primarily focused on the basic needs of an individual such as health, nutrition and relaxation, they are all the more relevant today given the busy lifestyles, awareness and the propensity to spend on wellness. Wellness has more often than not been used in conjunction with Beauty, and has been associated with females. While initially female consumers were exposed to beauty parlours, today wellness has a much broader meaning and scope.
In the Indian context female wellness primarily comprises:
The female wellness industry in India has rapidly evolved to meet the changing lifestyle trends of consumers. Also, the increasing cost of medical care is making females explore the options available under the wellness ambit. Preventive action is preferred to clinical therapy
A healthy, balanced lifestyle is essential to wellness. For females, general health plays a vital role in their overall wellness.
India’s wellness market is estimated at Rs 490 Billion, and wellness services alone comprise 40% of the market. The female wellness industry is currently dominated by weight loss and beauty treatment services. The high growth potential of the female wellness segment has led to the emergence of a pool of start-ups in the last couple of years.
The contribution of modern retail to the growth of female wellness products cannot be undermined. Organic and herbal products, offered by niche companies in the online segment are catering to the health-conscious females, who are expected to opt for products which reduce cholesterol, help control or avoid diabetes and manage weight, as well as maintain good health and well-being.
There are many factors that are driving the growth of the female wellness segment in India – More working females, rising standard of living, and an increasing section of affluent and middle class population considering beauty and wellness a necessity. Also, an increasing need to look good and feel good has led the female consumers to seek wellness solutions to meet their lifestyle challenges.
Other important factors leading to the impressive growth of the female wellness segment include exposure to global beauty and fashion trends, and increasing media penetration are driving growth in the wellness space. The need to look and feel good is gaining momentum, especially among the middle-class.
The sector, however, has its own challenges too. Thousands of outlets, brands and skilled professionals in the beauty, grooming & wellness sector easily enter the market and exit when they face the bitter realities. Since most of these businesses have low marketing budgets, they cut prices to attract more customers, which leads to an intense price war making it difficult for companies to sustain in the market.
Naturals, VLCC, Shahnaz Husain, Dr. Jamuna B Pai and Dr. Blossom Kochhar are some of the leading names and brands that are contributing to the female wellness industry in India through their services as well as products.