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Friday, February 3, 2023

Here’s how the health and wellness sector is expected to grow in 2023 & beyond

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Over the last several years, India’s wellness business has risen by leaps and bounds. According to a recent analysis, the India dietary supplements market would grow at a CAGR of 14% between 2022 and 2027.

Wellness has been around for quite some time. Consumers today perceive wellness through a much broader and more sophisticated lens, including not only exercise and nutrition, but also entire physical and mental health, as well as aesthetics.

When we look back at the growth of the health and wellness business in India, we can see how demand has increased by leaps and bounds in recent years. People have grown more conscious of the necessity of adopting a healthy lifestyle since the coronavirus pandemic.

While the epidemic presented problems to the world, it also made each individual more accountable for their own health. In the post-pandemic age, the increase of the health-conscious consumer has been the key driver driving the dietary supplement business.

Furthermore, consumer knowledge of healthy food options, gyms, and tailored nutrition is at an all-time high. Increased understanding has also made customers more conscious of their nutritional needs.

According to a recent analysis, the India dietary supplements market would grow at a CAGR of 14% between 2022 and 2027. Changes in food choices, a lack of physical exercise, and an increase in sedentary lives have all contributed to a rise in the prevalence of numerous lifestyle illnesses.

As a result, with consumers unable to meet their nutritional needs through their usual meals, they are increasingly understanding the value of nutritional supplements to fill nutritional gaps and create strong immunity.

Other elements boosting this industry include increased disposable incomes, improved distribution networks, and so on.

As more customers want to live a better lifestyle, the demand for fitness centres, gyms, and other such facilities will skyrocket, resulting in increased demand for dietary supplements. The growing dietary supplement sector is also propelling the market for sports nutrition and supplements, as it plays a significant part in maintaining a balanced diet to promote athletic performance.

Every day, athletes exert immense effort in training, performing, and practising. Sports nutrition includes post-workout supplements and pre-workout nutraceuticals, which sustain the body for intense activity while also enhancing energy levels and muscular strength.

The increased youth interest in sports activities presents additional attractive potential prospects for the sports supplements industry. In terms of overall consumption, protein supplements lead the market.

The remarkable exploits of Indian athletes at international sporting events have also boosted the sports nutrition business in India. Because most of these athletes rely on dietary supplements to achieve their award-winning performances, prospective athletes seek to emulate their practises in order to achieve their fitness levels.

Brands are also collaborating with social media influencers and celebrities, which is propelling the health and fitness sector forward. Furthermore, active marketing and promotional methods for the promotion of dietary supplements are predicted to favorably affect market growth.

People are shifting to better diets as nutrition becomes more mainstream. Nutrition as a preventative health care tool is increasingly becoming an industry.

Given that the market is swamped with counterfeit supplements, distinguishing between genuine and counterfeit diet pills is critical. Because investing in one’s health is a high concern, one should buy from legitimate dealers of reputable brands.

The industry is now at an inflection point, indicating a lot of favourable changes in the future. It is undeniable that the epidemic highlighted the necessity of maintaining a healthy lifestyle and has altered the way we live our lives today.

Wellness is here to stay, as consumers intend to spend more money on their own health, looks, exercise, and other activities. Our study reveals that consumer interest in health and wellness is continuing to rise, with persistent gaps in key areas creating interesting prospects for entrepreneurs to meet unmet consumer requirements.

If the epidemic has taught us anything, it is that physical and mental health will continue to be a priority for millions of people throughout the world for a long time. There is no doubt that the health and wellness business has captured the attention and interest of customers. The sector is seeing tremendous growth and is only going to become better in the near future.

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