Wellness Industry

Executive Director
Mrs. Seema D Gudadhe

FOUNDER - MUKTAI YOGA
                        The Wellness industry encompasses all activities which promote physical and mental wellbeing: from yoga to healthy eating, personal care and beauty, nutrition and weight-loss, meditation, spa retreats, workplace wellness and wellness tourism.
                     
                        The wellness market in India has been on a quiet yet steady rise over the past few years. The global health and wellness market reached a value of US$ 3.31 Billion in 2020. wellness refer to the state of complete wellbeing of the body, mind and spirit. Some of the important aspects of the health and wellness industry  Ayurveda, nutrition, yoga. 
                     
                         One of the most upcoming sectors in the Indian and global commercial context is that of wellness. At present, the worldwide wellness industry is valued at an astonishing USD 4.2 trillion and according to FICCI, in India, this figure is estimated to be INR 490 billion. Growing consumer awareness, increasing disposable incomes and a desire among the millennial population to transform their lifestyles for the better has given the wellness sector across the world an unprecedented boom.

                In India, the wellness industry for a long time flourished by banking on the demand for traditional and alternative healing practices such as Ayurveda, Yoga, Naturopathy and the likes. With new entrants in the market adapting to the changes in societal and individual aspirations for a better lifestyle, there has been a surge in the supply of wellness services. From curative healthcare, the market has expanded to include health and nutrition, yoga and fitness, preventive healthcare, and even wellness tourism. Even the Indian government is inviting players in the sector to invest in wellness under the flagship Make in India scheme, seeking to boost the industry which has a potential to grow at a Compound Annual Growth Rate (CAGR) of approximately 12% annually to reach USD 23 billion by the year 2020.

                Yoga, meditation and fitness were among the defining trends of the past decade for the wellness industry in India. With people looking for holistic fitness avenues, yoga became the buzzword across the world and India became the destination to meet this demand. Fitness centers that provided yoga and meditation services sprouted up not just in the metros but also in tier-II and tier-III cities. From group classes to high-end yoga studios, wellness retreats or corporate, and even personalized apps, the past decade saw an increase in the proliferation of services, with yoga and fitness capturing nearly 40 percent of the wellness market share.
3PORTS Chamber of Commerce help to promote Wellness Globally.