Why Is The Meditation Market Growing?
The global meditation market is experiencing significant growth, with a value of USD 4471.2 million in 2021 and is projected to reach USD 20532.44 million by 2030. The market is expected to grow at a compound annual growth rate (CAGR) of 18.5% from 2023 to 2030.
Several factors are driving the growth of the meditation market. These include increased awareness of the mental and physical health benefits of meditation.
Also the proliferation of fitness centers and availability of learning resources, rising healthcare costs, and technological advancements.
Keypoints
- The global meditation market is experiencing significant growth, with a projected value of USD 20532.44 million by 2030, growing at a compound annual growth rate (CAGR) of 18.5% from 2023 to 2030.
- Factors driving the growth of the meditation market include increased awareness of the mental and physical health benefits of meditation, the proliferation of fitness centers and availability of learning resources.
The Success Apps
The success of meditation apps like Calm and Headspace in the US and the utilization of technology by meditation centers and yoga studios are also contributing to market growth.
Various factors are contributing to the popularity of meditation. These include celebrity endorsements and media exposure. And also wellness tourism attracting individuals seeking holistic wellness, and the benefits of managing anxiety, depression, pain, and improving mental health.
MarketDigits is a leading business research and consulting company that focuses on the entire value chain, offering services that are relevant and beneficial to users.
