India’s population of 1.1 billion, second highest in the world, is expected to reach 1.3 billion by 2015. India also has one of the youngest populations in the world, with the proportion of under-29s projected to reach 56% by 2015. This group views shopping as a form of entertainment and is brand-conscious. With more than half of the population young and single, the processed food, eating out, leisure, and health and fitness sectors have experienced high consumer spending. Middle-aged adults (ages 45-55) currently form the second largest proportion of the Indian population (21.2%), a share expected to increase to 23.4% by 2015. Health related products are an important part of this group’s discretionary spending. Pensioner’s make up only 5.1% of the Indian population, but due to increased health consciousness they are spending more on fitness and medication. A key trend is the move toward natural products comprising herbs, vitamins and minerals.
The increased emphasis on a healthy lifestyle is part of a trend to look fitter and well-groomed. The rise in health-consciousness explains the huge increase of 203.5% on health goods and medical services expenditures from 1995-2007. The growth is expected to continue at a rate of 63.3% over 2007-2015. Indian consumers are joining weight loss clinics, a trend very popular with northern Indians whose diets have a high intake of saturated foods.
The market for products that reduce stress, prevent aging, help the heart and fight diabetes are all on a growth curve. Industry refers to the broad basket of health-oriented wellness products as the fast-moving health goods (FMHG) sector. | | | | | | | | | | | | | | | | | | |
Consumer Trends
Reducing fat intake is the most important and frequently practiced dietary approach by consumers in Asia Pacific. Low cholesterol oil products are becoming