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$1.86 Billion U.S. Meditation Market Boosted By Apps and Growth of Yoga Studios

By: WebWire

October 11, 2022: Marketdata LLC, a leading independent market research publisher since 1979, has released a new study, a 79-page report entitled: The U.S. Meditation Market . The study traces the market from 2015-2025 Forecast, examining these programs and products: Meditation Centers, Yoga Studios, Retreats, Books, Smartphone Apps, Websites, Online Courses, Employer programs, and DVDs. This is a little-researched, but growth niche market.

According to Research Director, John LaRosa: “Meditation has become more mainstream in America, boosted by soaring subscriptions to apps such as Calm and Headspace. Like so many personal service markets affected by the pandemic, meditation centers and studios have had to adjust and incorporate new technology that makes their service more accessible.”

Major Findings:

* Market Value… The U.S. meditation market was estimated to be valued at $1.86 billion as of 2021, forecast to grow to $2.07 billion in the current year. Marketdata forecasts 7.0% average yearly growth, to $2.5 billion by 2025.

* Demographics… An estimated 36 million U.S. adults now meditate. The use of meditation increased more than threefold from 4.1% of adults in 2012 to 14.2% in 2017. The typical meditator is a middle-aged female, highly educated, non-Hispanic White, residing in the Western U.S.—very similar to the profile of a self-improvement consumer.

* Market Structure…There are an estimated 990 meditation studios or centers in the U.S., mostly non-profit organizations. They generated $192 million in revenues in 2019, but revenues fell 21% in 2020-2021. They are just now returning to normal operations, incorporating more virtual (Zoom meetings).

* The Yoga Connection…. Many of the nation's 6,500 yoga studios also offer meditation classes, and are estimated to generate $350 million in revenues from them.

* Metrics…. The “average” non-profit meditation center grossed about $193,000 in 2019, but this declined 21% during the pandemic to $154,000.

* Competition…. Marketdata found that 349 of the U.S. meditation centers are operated by three non-profit organizations: Kadampa Centers, Transcendental Meditation ™, and Shambhala Centers. Very few for-profit meditation centers exist, and the market is ripe for investment.

* Meditation books, CDs, DVDs, and magazines constitute a $135 million segment of the market.

* Apps… There are 2,500+ meditation smartphone apps now on the market. Meditation apps, websites and online courses generate an estimated $440 million per year. Leading apps are: Calm, Insight Timer and Headspace.

* Spending… Marketdata estimates that the average meditator (yogi) spends $286-480 per year on meditation classes, books, apps, online courses and supplies, while the typical yoga user spends $500-1,000. An estimated 12% of the 36 million meditators use a class offered by a meditation center, yoga studio, or a practitioner – 4.4 million people, and they go to 16 sessions/year.

“In the past, the only options were to take a costly meditation course for $1,400 over four days, to go to a Buddhist temple for two hours at a time, or to do a six-week program at a hospital. None of these options were practical. That has changed.”, according to John LaRosa.

About The Report

The U.S. Meditation Market, published in October, 2022, is an independent “off-the-shelf” market research study. The study is 79 pages in length, with 16 guru and competitor company profiles. It costs $995. An 18-page Overview Summary is available for $99. A Table of Contents is available by email or at Contact: Marketdata LLC, 7210 Wareham Drive, Tampa, FL 33647, (813) 971-8080. John LaRosa is available for interviews and presentations.

About Marketdata LLC

Marketdata LLC has published a wide variety of market and industry studies since 1979, as well as custom research projects and consulting. It specializes in commercial and personal service sectors, healthcare, and niche markets not covered elsewhere.

— WebWireID295321 —

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