USD 4471.2 million
Meditation Market Size, Share, Growth Analysis, By Product(Apps, Websites, Books, Online Courses), By Medication Type(Progressive Relaxation/Body Scan Meditation, Mindfulness Meditation, Breathe Awareness, Meditation), By Type(Open Monitoring, Focused Attention, Self-Transcending Meditation), By End-Use(Home Setting, Meditation Centers, Corporate/Colleges/Schools), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35F2009 |
Region:
Global |
Published Date: February, 2024
Pages:
242
|Tables:
126
|Figures:
77
Meditation Market Insights
Meditation Market size was valued at USD 4471.2 million in 2019 and is poised to grow from USD 5295.07 million in 2023 to USD 20532.44 million by 2031, growing at a CAGR of 18.5% in the forecast period (2024-2031).
The market growth is attributable to factors such as growing public awareness of the mental and physical health advantages of meditation, the expansion of fitness centers, and the accessibility of learning resources. The market growth is anticipated owing to rising healthcare expenses and increase in innovation and technologies.
The popularity of apps like Calm and Headspace has helped meditation become increasingly popular in the US. Meditation centers and yoga studios have had to adapt and adopt new technology that makes their service more widely available, like so many other personal service businesses that were impacted by the pandemic.
The market for meditation is expanding because consumers are adopting the criteria set by the market, which is aided by the rising levels of stress and mental discomfort as well as the declining focus ratio. The trend of organizations experimenting with mindfulness research is being helped by the emerging culture of intellectual consciousness. Through the forecast period, the increased prevalence of mental health issues, such as mood disorders and stress headaches, are growing in a general change to the meditation sector.
US Meditation Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Apps
Fastest Growth
Apps
Growth Rate
18.5% CAGR
Global Meditation Market ($ Bn)
Country Share for North America Region (%)
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Meditation Market Segmental Analysis
Meditation market is segmented on the basis of products, meditation type, type, end-use, and region. By products, the market is segmented into meditation programs & workshops, online courses, websites, apps, books, and yoga centers. By meditation type, the market is segmented into spiritual meditation/transcendental meditation, metta meditation, breath awareness meditation, zen meditation, progressive relaxation/body scan meditation, mindfulness meditation, and kundalini yoga. By end-use the market is segmented on the basis of home setting, meditation, and corporate/colleges/schools. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Meditation Market Analysis by Product
The apps segment dominated the global meditation market and is anticipated to maintain its dominance throughout the forecast period. This growth is attributable to the fast development of numerous electronic apps, such a free mobile meditation app, and growing R&D initiatives by developers. Nonetheless, due to their quick expansion and accessibility to the general public, yoga centers are anticipated to hold a significant market share in the years to come.
According to types, the open monitoring segment is projected to grow rapidly over the forecast period due to the rising popularity of meditation types, which are influenced by important advantages like eradicating mental biases, boosting emotional intelligence, and achieving high cognitive results. Moreover, open monitoring is frequently used to lower tension, stress, and sadness.
Global Meditation Market By Product
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Meditation Market Regional Insights
North America region dominated the meditation market in 2021 and is expected to maintain its dominance throughout the forecast period, with US alone accounting for the highest share in the regional market. The existence of a significant population of patients with mental illnesses, numerous activities featuring meditation workshops, and the quick growth of yoga studios in the area are all credited with the rise of the regional market. A major segment of the population in the region, particularly in emerging countries is expected to have more disposable income in the next years, which will lead to a rise in the number of people spending on mental health development.
Due to a rising level of interest in meditation among residents of the region, Asia-Pacific is anticipated to grow at the fastest rate during the forecast period. The increase is attributed to the high prevalence of mental illnesses as well as the thriving yoga and meditation communities. Due to its growing middle class, China is the market leader in the Asia-Pacific region.
Global Meditation Market By Region
- Largest
- Fastest
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Meditation Market Dynamics
Meditation Market Drivers
Growing mental health awareness among individuals to drive market growth
- The market is expected to develop at an exponential rate over the forecast period due to the rising knowledge of the hidden power of meditation and its unusual results for the health benefits of living a healthy life among both individuals and the general population globally.
- Customers are actively depending on the solutions offered by the meditation market, which is one of the ways and channels driving the industry's growth as anxiety, mental stress, and concentration ratios all continue to decline.
- Organizations attempting mindfulness meditation are incline towards the emerging tradition of deliberate awareness. Throughout the anticipated time, there will be a significant movement towards the meditation industry due to the increased prevalence of subconscious health issues, such as mood disorders and anxiety issues, across a range of age groups.
Meditation Market Restraints
Availability of alternative to meditation
- The availability of alternative medications will restrain market expansion over the forecast period. Additionally body-based therapies and manipulative therapies are two of the most often used complementary therapies which are anticipated to hinder the meditation market growth. Massage, chiropractic or osteopathic manipulation, reflexology, and cupping are examples of body-based therapies. While mind-body therapy is another sort of therapy that is used.
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Meditation Market Competitive Landscape
The major players in the market are Smiling Mind, Waking Up, LLC, Stop, Inner Explorer Inc., Breathe & Think PBC, Aura Health, Inward Inc., Insight Network Inc., FeelVeryBien, s.a.s., BetterMe, Committee for Children, Sanity & Self, Portal Labs Ltd., Mindfulness Everywhere, MINDSET Brain Gym Yorkville, MOBIO INTERACTIVE, and others.
Some of these major firms utilized a variety of techniques, such as creating cutting-edge products and technologies and boosting R&D spending, to increase their market shares and product lines. In May 2021, MOBIO INTERACTIVE declared that it had begun offering individualised therapy to COVID-19 patients in order to enhance their mental well-being and lower their levels of stress and anxiety..
Meditation Market Top Player’s Company Profiles
- Headspace
- Calm
- Insight Timer
- The Mindfulness App
- Breethe
- Simple Habit
- Stop, Breathe & Think
- 10% Happier
- Buddhify
- Smiling Mind
- Aura
- Sattva
- Chopra Center
- Omvana
- Muse
- Welzen
- Pacifica
- YogaGlo
- Gaia
- Glo
Meditation Market Recent Developments
- In 2022, the Times Bridge Company invested $53 million of equity as its Series C funding into Headspace a meditation and mindfulness firm. According to the company, Times Bridge, a worldwide investments and partnerships firm, will help Headspace enter and grow in India, the second-largest internet market in the world.
- In 2020, the famous meditation app Calm has acquired additional funding with a $2 billion valuation. Since it was revealed that the business was looking for up to $150 million at a $2.2 billion valuation, the round was anticipated. The funding follows a period of strong venture capital performance for firms with a focus on mental health.
Meditation Key Market Trends
- The meditation application is developing as a result of rising smart technology integration and increased awareness of meditation. The extremely demanding and stressful nature of daily activities motivates people to learn more about meditation which is anticipated to drive the demand for meditation applications over the forecast period.
- Recent studies on meditation have demonstrated its advantages, even for those who practice for only 10 minutes. The outcomes are tangible and range from managing and regulating pain to lowering blood pressure and reducing depressive symptoms. Increasing benefits from adoption of regular meditation practice is anticipated to drive the adoption of meditation in daily life of the individuals.
Meditation Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global meditation market analysis, organizations attempting meditation are inclined towards the emerging tradition of thoughtful awareness. An enormous shift to the meditation is being caused by the increased prevalence of subconscious health dysfunctions across numerous age groups, such as mood disorders and anxiety issues.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 4471.2 million |
| Market size value in 2031 | USD 20532.44 million |
| Growth Rate | 18.5% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Meditation Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Meditation Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Meditation Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Meditation Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Meditation Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Meditation Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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