Wellness Market: Indonesia
The wellness industry market size in Indonesia in 2020 is estimated at $44.02 billion in 2020. The attached spreadsheet has been filled with other requested details.
Indonesia Wellness Industry
- The wellness industry consists of "industries that enable consumers to incorporate wellness activities and lifestyles into their daily lives."
- Data on the market size of the wellness industry in Indonesia is not publicly available. A market research report by Euro Monitor is likely to have the data but the report is paywalled.
- The global wellness industry was valued at $4.5 trillion in 2018 by the Global Wellness Institute. A report by Industry Research states the global health and wellness industry will grow with a CAGR of 6% between 2019 and 2023.
- If we assume the same 6% CAGR estimated by Industry Research for just the wellness industry, it would mean that the global wellness industry will be valued at $4.77 trillion and $5.06 trillion in 2019 and 2020 respectively (calculation with the aid of a CAGR calculator).
- According to the Global Wellness Institute, the Indonesia Spa industry, which is part of the overall wellness industry, is valued at about $1 billion in 2017, while the global Spa industry is valued at $119 billion in 2017. This means that the Indonesian Spa industry represents about 0.84% (1 billion/119 billion * 100) of the global Spa industry.
- Statista also estimates that the Indonesia fitness industry market size is $160 million in 2020, while the global fitness industry is valued at $17,937 million in 2020. This means that the Indonesian fitness industry represents about 0.89% (160 million/17,937 million * 100) of the global fitness industry.
- If we take the average of the percentage of Indonesia Fitness and Spa industry in relation to the global market and assume the same ratio to the global wellness industry in general, it would mean that on the Indonesia wellness industry represents 0.87% (0.84% + 0.89%)/2) of the global wellness industry.
- That would then mean that the Indonesia wellness industry market size is about $44.02 billion in 2020 (0.87% * $5.06 trillion).
- Additional details have been provided in the attached spreadsheet.
To find data on the current market size of the wellness industry in Indonesia, our research team extensively searched media, industry, and government databases. We also searched market reports and statistics databases. However, we were unable to find publicly available data on the market size of the wellness industry in Indonesia. We were only able to find a market research report by Euro Monitor that is likely to have the data but the report is paywalled.
Next, we tried to triangulate the data by looking for data on the global market size of the wellness industry and then data on the percentage of the global market that is due to Indonesia. We were able to find the data on the global wellness industry, however, an extensive search for data on the percentage of the global market that is due to Indonesia didn't yield any result.
Given that we were unable to find the data directly and were unable to find the percentage of the global market that is due to Indonesia, we decided to use a proxy in a similar industry to find the percentage of the market that is likely due to Indonesia. We found data on the market size of the Spa and Fitness industry in Indonesia and globally, both of which are segments of the overall wellness industry. We then found the average of the percentage of the global fitness and Spa market the Indonesia portion of the market represents and used the data to triangulate the market size of the overall Indonesia wellness market.