With wellness on everyone’s lips and yoga being not just a lifestyle choice, the sector offers many business opportunities for the discerning entrepreneur.
Yoga – India’s old, holistic approach to keeping body and mind “active, energetic and positive” – has changed over the past few decades. In the 1990s, it was restricted to adults who practiced it in parks and at home, but a few years later Surya Namaskar Captured the early morning TV slot with several yogis leading the audience on various yoga asanas. Soon it caught the imagination of celebrities and common people – in India and abroad.
But in recent years there has been an unprecedented boom for yoga and its practitioners.
Look no further than the entrepreneur and businessman Baba Ramdev, who can be considered one of the pioneers in developing an India-wide model of yoga by selling everyday items through his Patanjali brand.
June 21st, in addition to being the longest day of the year, has been referred to as International Yoga Day from the United Nations. The yoga phenomenon has shifted to the global stage, with the US market alone being set at $ 17 billion.
With a growing awareness of wellness and health activities, this sector offers great investment opportunities, whether in the areas of setting up specialized treatment centers, spas and rejuvenation treatments, or the manufacture of Ayurvedic medicines (nutraceuticals, dietary supplements, cosmetics and rejuvenators).
The yoga economy
India is the second largest exporter of medicinal plants in the world After China, the two countries together produce more than 70 percent of the total global demand for plant-based products.
According to the WHO, the global herbal market is estimated at around $ 5 trillion by 2050, compared to the current level of 620 billion rupees.
The Indian domestic market of AYUSH (Ayurveda, Yoga, Naturopathy, Unani, Siddha and Homeopathy) is valued at 500 billion rupees while exports are 200 billion rupees. Wellness services alone make up 40 percent of the market. The AYUSH The sector is dominated by micro, small and medium-sized enterprises, which account for more than 80 percent of the companies.
The government has set up a dedicated department for AYUSH to stimulate these ancient health systems and create opportunities for investment, education and research, health services and training in the AYUSH sector.
India’s medical tourism sector, valued at Rs 300 billion in 2015, is projected to grow to Rs 700 to 800 billion by 2020.
In 2017-2018, AYUSH exports totaled 3,211 billion rupees. According to the department, Western Europe, Russia, USA, Kazakhstan, United Arab Emirates, Nepal, Ukraine, Japan, Philippines and Kenya are the largest markets for Indian herbal products.
With 100 percent foreign direct investment The approved product market in the AYUSH sector is valued at around Rs 40 billion. Over-the-counter products such as digestive products, natural foods and pain relievers account for almost 75 percent of the segment. In India, 9,000 units are engaged in the production of AYUSH drugs.
With the advance of the government and worldwide acceptance and recognition of yoga, several startups are taking advantage of the experience and building their businesses.
We list five such companies:
While brands like Manduka and Jade Yoga are green, in 2015 India found its first eco-friendly, innovative and entirely local product in Juru Mats. Juru is a portmanteau made from ‘ju’te and natural’ ru’bber, both indigenous Indian resources.
“We have found that Juru’s greatest strength is that yogis are connected and understand their needs. This was made possible through offline and online contact. We started our e-commerce website first, working with like-minded retail partners, and have also worked to expand our online presence on social media and through our blog, ”says Pooja Borker, the founder.
Juru also offers five types of Cork mats;; These have an excellent grip – no matter how much you sweat. They are odorless and have a natural earthy odor. The antimicrobial function ensures that they remain odorless even after a hot yoga session. The Juru travel and meditation mat is light, foldable and reversible with two unique surfaces.
In the past 12 months, Juru Mats from Chennai has grown with positive sales compared to the previous month. With over 4,000 users, they were almost clocked Rs 50 lakh in sales So far only with yoga mats and other props.
Nayana Kanthraj and her husband Deepak Ugrappa founded Yoga Jal in 2017. Yoga Jal, based in Bengaluru, has one unique blend of herbs that contain natural preservatives to hold back active ingredients. The drinks have no refined sugar or artificial colors and only contain 8-10 percent sulfur-free sugar.
“Our USP consists only of herbs, and you can consume the juices without diluting them. Yoga is supposed to help balance body and soul, and the idea was to consume people something that would help them find the perfect balance, just like yoga does, ”says Nayana.
Yoga Jal has sold over 8,000 bottles last year; In December alone, they sold more than 2,800 bottles. The drinks are already available in the online shops Pinhealth Groups, Medlife, Itiha and PlaceOfOrigin and will soon be available on Flipkart. You also won the TiE Entrepreneur Award 2016.
This Bengaluru-based startup that offers crispy and healthy on-the-go snack bars made from natural ingredients was founded in August 2014 by sisters Suhasini and Anindita Sampat Kumar.
Suhasini and Anindita All the ingredients for the yoga bars come from different parts of the country. Suhasini adds that unlike other players in the market including RiteBite and Nature’s Value, they don’t add cornstarch, additives, or vitamins. However, this means that the shelf life of the bars is only three months.
Yoga bars cater to the market demographics of 25-35 year olds who lead reasonably active, busy lifestyles and care more about their health and wellbeing.
With an increasing number of people practicing yoga, the clothing space popularly known as yoga clothing is increasing. The active clothing market is little appreciated over $ 13 billion. Forever Yoga is to ride this new wave and add flair to yoga clothing.
Forever Yoga was founded by Amit Chand, Sivabalan and Kshama Menon and was founded with the idea of creating yoga clothing that makes you feel unconscious while performing asanas. Forever Yoga claims to feature a range of yoga practitioners who have been tested at high-end academies across the country.
LR: Amit Chand, founder; An example of Forever Yoga clothing. “Our range of products is inspired by current fashion trends that are comfortable but very stylish and casual. Our range is not only intended for yoga, but will also become part of the lifestyle wardrobe and we call it “wear your yoga”, ”says Amit.
Forever Yoga feels different from other brands as their clothing designs are based on loose silhouettes. They say they don’t focus on sportswear, just on Wear comfort yoga. Forever Yoga is currently based in Bengaluru and sold through an e-commerce channel.
In order to realize yoga in his birthplace, Akshar founded the world-famous Akshar Power Yoga Center in Bengaluru. Akshar says yoga is India’s property, but we started evaluating it after the US yoga industry packed it up for the masses.
“How can a mother leave her child with someone else to look after?” he asks. “So far we only knew about the yoga alliance in the USA. But yoga is our knowledge. Why should an alliance in the US certify our teachers? ” he asks.
The native Amit gave up his first name and took sanyas. Today Akshar says he is a born yogi. He understood the demands of the day and modified yoga to meet the everyday needs of an urban consumer. Most of the classes at Akshar Power Yoga aim to meet this unending need for weight loss. He also trains aspiring yoga teachers from all over the world.