According to a recent KPMG /NSDC report:-

The global beauty and wellness industry is growing at a CAGR of 15 % annually over the last five years.

• The top five growth beauty and wellness markets are China, Brazil, the US, India and Indonesia.
• The rise in world’s leading health problems (obesity, hypertension and cardiovascular diseases) contribute to the demand for wellness-related products and services.
• The list of other fast-growing sub -sectors include acupuncture, naturopathy, Ayurveda, meditation, biofeedback and yoga.

The beauty and wellness industry in India is growing at a CAGR of 18.6 %

• The sector is thriving on the increasing section of affluent and middle-class population that has started considering beauty and wellness as a necessity
• Increased emphasis on a holistic wellbeing with people’s desire to look good and young are other motivators for the industry.
• The rejuvenation segment is no longer perceived as a mere luxury service but it is now acknowledged as an essential tool to de-stress

Other Important characteristics of the segment:-

• According to CSO, expenditure on wellness products and services remains steady, riding on increasing share of discretionary spending.
• Customers are willing to pay a premium for a beauty and wellness ‘experience’. Spending on beauty and wellness is no longer considered a luxury
• Unisex beauty and wellness centers are increasingly finding acceptance among young. Several leading brands in the organized segment offer unisex services.
• Rising income, increasing awareness among consumers in tier 2 and 3 cities and low rental/manpower costs are some drivers for expansion into hitherto untapped regions.
• Increased penetration of organized retail augurs well for the sales of foreign brands in India.
• Over 50 percent of the workforce among salons, slimming and rejuvenation sub-segments are women. However, men are increasingly gaining interest, especially in hair styling. Segments such as physical fitness and counter sales continue to be dominated by men.
• Transitional changes are being observed in the economic profile with candidates from mid-income households taking to the sector in urban areas. In rural areas, the workforce continues to be constituted by people from lower socio-economic background
• Employees are usually sourced locally. Workers from Kerala are preferred for rejuvenation services of the Ayurvedic therapy while those from the Northeastern states are preferred for generic services.

There is an emerging trend of migrants from the Northeastern states, West Bengal and Nepal entering the sector.