international yoga day : Is it a real boom to yoga industry ?

A 5,000-year-old system of mental and physical practices originated in India, which includes philosophy, meditation, breath work, lifestyle and behaviour principles, and physical exercise. Yoga is no less than a treasure to India since the time of Vedas. It was Swami Vivekananda who introduced the Indian philosophies of Vedanta and Yoga to the western world in 1893 and since then its popularity has thrived like no other.

Today yoga is the perfect antidote for the ailments of modern society. You must have noticed increasing signs of opening studio, gym offering complimentary classes, the sports brands like Nike and puma selling yoga pants. From big yoga chains to small studios, the number of yoga classes are increasing to suit all ages and backgrounds.
The prime minister of India has realized that by demonstrating the Yoga Protocol and enhancing participation worldwide can help making India a yoga-retreat destination. Impassioned speech at the UN Assembly in September 2014 proposing to dedicate a day to yoga, Yoga finds yet another prestigious position and it’s influence on millions of lives globally, continues to grow.

Since the first International Yoga Day on June 21, 2015 Prime Minister Narendra Modi’s mission brought in the required resolution within the shortest possible time. The age-old tradition is now a lifestyle that attracts millions of consumers not just in India but across the world.

The global Yoga market is worth $80 billion. According to a 2016 Yoga Journal report, while the US holds a major share in this, today there are over 36 million Yoga practioners in the US alone (up from 20.4 million in 2012) with practitioners spending up to $16billion on yoga classes, clothing, equipment, and accessories. According to the government’s Make In India report, the wellness industry in India is worth INR 490 billion, and wellness services alone comprise 40 percent of the market. The growth of yoga industry is phenomenal and it makes sense. With the celebration of International Yoga Day, the sales of Yoga mats and other products like Yoga pants etc have shot to 50%. The demand shoots up especially in June, which is the month of International Yoga. The market for Yoga is one full of opportunities and wider scope. In 2020, this sale is expected to grow over $3 billion USD and reach sales of 14.3 billion USD.

As per the ASSOCHAM recent estimates, there is about a 30–40 percent annual increase in demand for Yoga learning in India with a growing publicity and health awareness. It has increased the job opportunities in yoga training with mushrooming yoga studios.

Baba Ramdev and Balkrishna, with their brand Patanjali, have taken both Yoga and Ayurveda to the next level. Patanjali university offers degrees and diplomas in Yoga. Moving successfully towards hitting sales worth Rs 10,000 crore in 2016-2017, Patanjali has taken brand Yoga one level up. The initiatives like ‘International Yoga Day’ has brought the enhanced focus on Yoga at a global level. As per the paper released by ASSOCHAM Health Council, events like ‘International Yoga Day’ will also give way to ‘Yoga Tourism’ in India. Today, Yoga has millions of practitioners worldwide. It promises to become multi-billion dollar market in the form of health clinics, ayurveda resorts, holiday camps, corporate training etc, said DS Rawat, secretary general of ASSOCHAM.

Despite knowing the fact that the practice originates from India, and its market has a huge scope, we are yet to achieve a lot as we are still not number one in the market. But we must give credit to such initiatives like ‘International Yoga Day’ which has given a fresh air to it.

Siya is not a part of the crowd, rather away from it. A thoughtful girl, she is a writer / poet by profession as well as hobby. She is passionate about bringing a positive change in society and people's lives around her.

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