Jun 14, 2017: The wellness industry has evolved rapidly from its nascent unstructured beginning to comprehensive ecosystem today including companies, centers, customers and government support.
The overall Wellness Market had increased because of the surge in demand for personal care products and the services offered by the Fitness centers and Spa & salons. The increase in population in the country has increased the consumption of personal care products owing to the increase in market size of the industry.
Wellness products are the major contributor in the Wellness industry of the country. The wellness products include all personal care products and the Nutraceutical Products. The Personal care products also include the products which are of basic Necessities such as soaps, Face creams, Shampoos and others. These products are required by every individual of the country, thus making this sector as the leading sector in the Wellness industry.
The few categories of personal care products and Nutraceutical products are costly (such as perfumes, Nutrition supplements and others) and also, these products are used frequently by the population. Thus increasing the market size of the wellness products in the country.
The demand for nutraceutical products had also increased in the country (especially for Functional food and beverages) which had also increased the revenue of wellness products in the country. The population in the country prefers more digestive foods such as oats and fiber biscuits, energy boosting drinks and others.
It had been witnessed that the wellness products market had been increasing in absolute terms, but it had decreased in the percentage terms. The major reason for the decrease in the percentage of the wellness products in the country are the increase the demand of the wellness services by the population.
Spa and salon concept is more than a therapeutically ritual for the body. People are spending more on body and hair treatments, which has increased the demand of salon and spa services in the country.
Majority of people in the country have dry and sensitive skin and due to the high temperature, they usually suffers from number of infections such as rashes, tanning, acne and others. This had also increased the demand of facial treatments in the salons.
Some of the major players operating in Spa Market are Four Spa, Astralis Spa, Oriana Spa & Salon and Enaya Care.
The market for Cosmetic and toiletries is one of the most attractive markets. The personal care market has increased during the period majorly due to the increase in the fragrance market of the kingdom. In some cultures, perfume and fragrance determines about the life style of a person. People spent huge amount of money in fragrance segments. The increase in fragrance market accompanied by the increase in skin care, hair care and color cosmetic market has enhanced the market revenues of the personal care product.
The dietary and supplement market is dominated by standard supplements such as vitamins, irons, calcium, essential enzymes and others. The major reason accounted for this large share is due to the increasing market offerings in this segment. Introduction of various innovative products which caters to age-specific and problem-specific requirements that have supported the growing revenues of this market.