Wellness Market: India
India's current wellness market is worth USD$21 billion and has been growing at a 12% CAGR since 2014. The details of the historical market size and forecast were included both below and in the attached spreadsheet.
- The market size of the Wellness Industry in India in 2019-2020 is Rs1.5 trillion growing from the period of 2014-2015 at a 12% CAGR.
- In India, the wellness market is composed of health practices like yoga and Ayurveda, traditional medicine, mental and body wellness like relaxation, health, and nutrition.
- The sports, fitness, and wellness market in India is expected to be worth $90 billion by 2022.
- The global wellness industry grew at a 6.4% CAGR in the past years, and all its sectors will continue growing at a similar until 2022.
- The key sectors of the wellness industry are personal care, anti-aging, and beauty; healthy eating, weight-loss, and nutrition; wellness tourism; mind-body, and fitness; public health, personalized, and preventive medicine; complementary and traditional medicine; wellness real estate; mineral and thermal springs; spa economy; and workplace wellness.
Market Size Conversion
To calculate the value from Indian Rupees to US dollars we used an online currency calculator. The 2020 value of INR ₹1,500,000,000,000 is USD $21,202,987,693.
Then, we used a CAGR calculator to determine the reverse growth in the past five years, indicating a growth of 12% for the past five periods, for easier access, the snapshots of the calculations were included in the attached document.
To calculate the forecast of the market size in the next two years, We noticed that the global market's growth will continue growing at a similar rate. Knowing that India is a significant player in the global market, we assumed that India's wellness industry will also grow at a similar CAGR of 12% in the next two years.
Once again, we used an online CAGR calculator and added the snapshots of our calculations to the document.