Bengaluru, June 14, 2016: Ken Research announced its latest publication on “Saudi Arabia Wellness Market Outlook to 2020-Changing Demographics and increase in Lifestyle Diseases” which provides a comprehensive analysis of Wellness market in Saudi Arabia. The report focuses on the wellness services market and wellness products market. The report covers market size and segmentation of overall wellness industry by wellness products and wellness services market. the reports also covers the market size of wellness services and its market segmentation by Fitness services and Spa/Salon services in Saudi Arabia. The report put forth in depth analysis of wellness products market and its segmentation by personal care products and Nutraceutical products. The report covers the market share and detailed company profile for all segments I.e. Fitness services, Spa/Salon services, personal care products and Nutraceutical products. The potential and future outlook for wellness industry has also been discussed in the publication. Snapshot for wellness tourism has been separately discussed in the report. The report provides detailed analysis of major players, their strategies, SWOT Analysis, Trends & Developments and major issues and challenges with the Wellness market in Saudi Arabia. The report also serves as a benchmark for every new player which is seeking to enter into wellness services market and wellness products market and what should be the focus and USP for that new player.
The wellness Industry in Saudi Arabia is growing rapidly over past few years. Wellness is based on general taking care of one’s health and wellbeing. Increased awareness of general wellbeing among the population and the aggressive marketing and promotion done by the companies offering products and services in KSA had contributed in the growth of the wellness market in the country. Saudi Arabia wellness market offers services and products from premium and niche beauty products to organic products and wellness brands that help people look good and stay healthy. Consumer spending had increased on beauty and personal care products in recent years. The major reason accounted for the growth in the market is increase in the demand of personal care products and the services offered by the Fitness centers and Spa & salons. The wellness industry in Saudi Arabia can be segmented into wellness services market and wellness product market. Wellness product market is the major contributor of in the revenues of the wellness industry followed by wellness services market.
Wellness service market in the country has witnessed a tremendous growth in the past few years due to the increase in the obesity rate, heart problems, skin problems and increase in the consciousness about the looks. The demographics of Saudi is changing, the youth population in the country is changing which is the main target of the wellness services centers.The wellness Product market had witnessed a robust growth in the past few years in the country. The major reason accounted for the increase in the wellness Product market is the increase in the awareness about the personal hygiene, marketing and promotion done by the personal care product and nutraceutical product companies. The personal product is the major contributor in the revenues of the overall wellness product market.
According to the research report, the Wellness market will grow at a considerable CAGR rate thus reaching USD 13.2 billion by 2020, in which wellness services will contribute USD 1.6 billion and Wellness products will contribute to USD 11.6 billion revenues.
“Increase in female and youth population in the country, expansion of wellness tourism industry and increase in the lifestyle diseases in the country are anticipated to give the boost to the wellness industry in the country. Also, rise in personal disposable income, booming hospitality sector, increase in awareness about the personal hygiene in the country will trigger the demand of wellness services and products in upcoming years. Strict rules and regulations for the females in the country is the major challenge which will affect the growth of this industry in the future”.
The companies in coming years should invest in research and development of the company, and they should also look to upgrade their production process. The wellness service centers should also expand their business by opening new branches in the country. The wellness product companies should expand their production line to meet the changing needs of the customer and also increase their distribution channel” according to the Research Analyst Ken research.
Corporate Comm India (CCI Newswire)
