Axon Developers’ Top 10 Market Wellness Market Report

Axon Developers has released a top-10 wellness destination report. The research report has identified India’s leading wellness destinations throughout the length and breadth of the country.

“India’s wellness sector is growing at a scorching pace. The market is presently sized at USD 21.4 billion and is growing at a CAGR of 25-30%. People now understand the importance of holistic health and take preventive actions rather than short-term cures. This is not just fueling demand for nutrition, healthcare centers, and consultative business but also nature resorts, naturopathy cottages, wellness & ayurveda centers, integrated farmhouses, etc.” said Ankit Kansal, MD, Axon Developers.

As per the Axon report in North India, some of the main wellness centers in the Himalayas include Rishikesh & Haridwar, Gangotri Highway, Badrinath Highway, etc. In the west prominent wellness destinations include Sindhudurg, Lonavala, and nearby hill stations in Sahyadri, and the western state of Rajasthan.

Rajasthan holds immense potential for wellness, Ayurveda, and detox treatments, says the report. 

In the south, Cochin in Kerala is a natural favorite to start and run a wellness business such as spa, Panch Karma center, Yoga & Pranayam centres, etc.  Presently average land rates in Cochin are around Rs 5832/ Sq Ft, moving up from Rs 4638 in the past 4 years. Located in west Kerala Cochin is known for scenic sea beaches, islands, and numerous cultural monuments.

In the western Ghat, the Sindhudurg region has also witnessed a change in fortune after the opening of the international airport at MOPA, around ~ 25 mins from Sindhudurg. The region is blessed with scenic hills, turquoise blue water, and thick green forests. There is huge potential for hospitality, wellness, second homes, and rental villas, etc. Presently the annual tourist volume is close to 450,000. Nevertheless, it is expected to jump fast consolidating Sindhudurg’s position as one of the sought-after tourist hubs in the Konkan belt. 

As there is renewed optimism in the market, investments in the hospitality sector are also rising. By 2030 close to new 1500 new hotel rooms will join the pipeline. Backed by growth in demand, hospitality property prices are rising sharply. Presently the average land price is in the range of INR 6151/ Sq Ft, growing at a CAGR of 11.6%.