How beauty, wellness and health are promising an immense growth in the coming years
Beauty, wellness and health are the avenues that are always in demand in India. Whether it’s about beginning your venture, or taking up a franchise, this sector is promising you immense growth in the coming years.
The Indian beauty and wellness market, pegged at over $1 trillion, is said to be growing at over 20 per cent annually. With the change in lifestyle, consumers are becoming health conscious and this has added to the demand for not just services, but for health products too.
As the growth of this sector keeps getting better, newer trends are making their way fast into this market, transforming it and opening up better avenues. Salons and spas, which were widespread in tier I and metros, are now expanding into tier II and III cities eyeing rapid growth viz-a-viz changing consumer behaviour. Busier lifestyles and demanding consumers have given birth to the trend of ‘salons at home’.
Yoga, too, has become a hot trend in wellness franchising. Nutraceuticals, expected to grow at 20 per cent year on year, has become a huge growth avenue for brands. These trends are together making beauty and wellness one of the biggest opportunities for venturing into and franchising to widen their reach. It won’t be exaggerating to say that beauty and wellness is the big boom in India’s growth.