U.S. Meditation Market Displaying Robust 7.2% CAGR; Forecasted to be US$ 3,861 Mn by 2032, Exclusive Analysis by MarketResearch.biz
MarketResearch.biz reports that the demand for U.S. Meditation is expected to rise in the coming years as consumers become more conscious of the recognition of the benefits of mindfulness and meditation for managing stress, improving mental well-being, and enhancing overall quality of life.
New York, July 17, 2023 (GLOBE NEWSWIRE) -- The U.S. Meditation Market size accounted for *USD 1,960 Mn *in 2022. It is projected to surpass around *USD 3861 Mn by 2032,* and it is poised to reach a *CAGR of 7.2% from 2023 to 2032*.Meditation is a practice that involves training the mind to focus and redirect thoughts, leading to a state of mental clarity and emotional calm. It is often associated with relaxation, stress reduction, and improved well-being.
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*Key Takeaway*
· By product, the *yoga meditation centers* segment leads the market with the highest revenue share.
· By meditation type, the *progressive relaxation/body scan relaxation* segment is likely to grow at the highest rate.
· By indication type, *mental conditions* dominate the segment, with a revenue share of *62%* in the account.
· The *western region* held a significant revenue share of* 35%* in 2022.
· The *southern region* is anticipated to grow at a high CAGR during the forecast period.
The growth of the U.S Meditation market is fuelled by key factors such as the increase in awareness among the general population about the health benefits of meditation, along with the increase in various meditation centers that offer health programs. Moreover, the increasing prevalence of mental disorders and several government initiatives promoting a healthy lifestyle are likely factors contributing to the growth of the market during the estimated time period.
*Factors Affecting the Growth of the U.S. Meditation Market*
Several factors can affect the growth of the U.S. Meditation market. Some of these factors include:
· *Increasing* *awareness about the health benefits of meditation: *In recent years, there has been a notable increase in awareness about the health benefits of meditation in the United States. Meditation, which involves focusing one's attention and eliminating the stream of thoughts, has been practiced for centuries in various cultures for its spiritual and mental benefits. However, its potential health benefits have gained significant attention and recognition in the U.S. over the past decade. Thus, a rise in awareness about the health benefits of meditation will likely drive market growth during the forecast period.
· *Rise in meditation centers that offer health programs:* The increase in awareness about the health benefits of meditation in the United States has led to a growing number of meditation centers that offer health programs. These centers provide dedicated spaces and resources for individuals to learn and practice meditation techniques that promote physical, mental, and emotional well-being. Rising meditation centers offering health programs will likely fuel the market growth during the forecast period.
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*Top Trends in U.S Meditation Market*
*Availability of vast online courses for learning meditation:*
The availability of vast online courses for learning meditation in the United States has significantly expanded in recent years. The internet has enabled people to access a wide range of meditation programs, instructional materials, and resources from the comfort of their homes. Hence, the availability of vast online courses for learning meditation can be considered a positive trend that is likely to boost the overall market growth during the upcoming time period.
*Market Growth*
The rising health awareness among the general population is driving the demand for meditation centers. Also, the rising popularity of meditation among celebrities and influencers is stimulating the market's growth during the projected time. Furthermore, rising scientific research and the launch of quality meditation programs will likely propel market growth even more during the forecast period.
*Regional Analysis*
The western region leads the market by accounting for a significant revenue share of 35%. The market growth in the region can be attributed to the presence of several meditation studios, combined with rising consumer health awareness. The Southern region is expected to grow at a high growth rate over the forecast period. The growing popularity of meditation, along with the increase in meditation centers and their health programs, are some of the major drivers projected to drive market growth in the region.
*Competitive Landscape*
The competitive landscape of the market has also been examined in this report. Some of the major players include Gaia, Inc., Shambhala Centers, Sounds True, TM Centers, MindBodyGreen LLC., Unplug Meditation, Inner Explorer, Art of Living Foundation, Spirit Rock, and Other Key Players.
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*Scope of Report*
*Report Attribute* *Details*
Market Value (2022) USD 1,960 Mn
Market Size (2032) USD 3,861 Mn
CAGR (from 2023 to 2032) 7.2%
Western Region Revenue Share 35%
Historic Period 2016 to 2022
Base Year 2022
Forecast Year 2023 to 2032
*Market Drivers*
· *Rising awareness about the health benefits of meditation and an increase in meditation centers that offer health programs *
There has been a growing awareness about the health benefits of meditation in recent years. Meditation involves training the mind to focus and redirect thoughts, often by engaging in techniques such as mindfulness, concentration, or visualization. While meditation has been practiced for centuries in various cultures, scientific research has provided valuable insights into its potential health benefits.
Thus, rising awareness about the health benefits of meditation is expected to stimulate the growth of the market during the estimated time period. Also, an increase in meditation centers that offer health programs is likely to fuel the growth of the market during the forecast period.
*Market Restraints*
· *Presence of alternative treatments methods*
People have diverse preferences when it comes to their well-being practices. While meditation has gained popularity, there are individuals who may prefer other alternative treatments or a combination of approaches. Thus, alternative treatment methods may restrain the market growth during the projected time period.
*Market Opportunities*
· *Increasing prevalence of mental disorders*
Meditation offers techniques to calm the mind and relax the body, which can be particularly beneficial for individuals experiencing stress and anxiety. As mental disorders such as anxiety disorders and depression become more prevalent, people are seeking out alternative methods to complement traditional treatments. Thus, the increasing prevalence of mental disorders is likely to provide lucrative growth opportunities for the market in the upcoming years.
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*Report Segmentation of the U.S Meditation Market*
*By Product Insight*
Yoga centers lead the product segment by accounting for a major revenue share in the market. Key advantages offered by these centers, such as a better environment, proper guidance, proper interaction in person, Yoga Accessories and others, are driving the growth of the segment during the forecast period. Also, mobile health apps are expected to grow at a high rate during the forecast period. The increasing number of smartphone users has led to a rise in the use of mobile apps for meditation. It is a key factor stimulating the growth of the segment.
*By* *Meditation Type* *Insight*
The progressive relaxation/body scan relaxation segment is likely to dominate the market during the forecast period. An increase in the use of meditation for different body relaxation purposes is a key factor driving the growth of the segment. The Zen meditation segment is expected to witness steady growth at a high rate. Zen meditation involves sitting in stillness and observing the breath, thoughts, and sensations without judgment. This practice cultivates mindfulness, which has been widely recognized for its stress-reducing benefits. This is a major factor which predicted to drive the segment growth throughout the forecast period.
*By Indication Insight*
Mental condition dominates the indication segment by accounting for the largest revenue share in the market. The key factor fuelling the segment's growth during the estimated period is the increase in the usage of meditation in addressing key mental issues such as stress, anxiety, depression, etc. On the other hand, the physical condition segment is likely to experience high growth over the projected period. As, Meditation can play a crucial role in different physiological conditions such as prolonged pain, high blood pressure, and chronic digestive problems, it is likely to stimulate the growth of the segment during the projection period.
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*Market Segmentation*
*By Product*
· Apps
· Websites
· Books
· Online Courses
· Yoga Centers
· Meditation Programs
· Workshops
*By Meditation Type*
· Progressive Relaxation/Body Scan Relaxation
· Zen Meditation
· Mindfulness Meditation
· Breath Awareness Meditation
· Metta Meditation
· Other Meditation Types
*By Indication*
· Mental Condition
· Physical Condition
*Key Regions*
· Northeast
· Connecticut
· Maine
· Massachusetts
· New Jersey
· New York
· Pennsylvania
· Rest of Northeast
· Midwest
· Illinois
· Michigan
· Wisconsin
· Nebraska
· Minnesota
· Ohio
· Rest of Midwest
· South
· Florida
· Virginia
· Washington, D. C.
· Alabama
· Mississippi
· Texas
· Rest of South
· West
· Arizona
· Nevada
· Utah
· Alaska
· California
· Washington
· Rest of West
*Competitive Landscape*
The U.S. Meditation market is highly competitive, as major key players account for a large share of the overall revenue. The market is growing at a significant rate due to rising health consciousness among individuals. Also, new programs and initiatives implemented by several players promoting the health benefits of meditation are one of the main factors boosting competition among major industry players.
· Gaia, Inc.
· Shambhala Centers
· Sounds True
· TM Centers
· MindBodyGreen LLC.
· Unplug Meditation
· Inner Explorer
· Art of Living Foundation
· Spirit Rock
· Other Key Players
*Recent Development of the U.S Meditation Market*
*May 2021:* MOBIO INTERACTIVE announced the beginning of tailored therapy for COVID-19 patients in order to address their stress and anxiety levels and improve their mental health.
*June 2019:* Gaia began live-streaming events from a new facility on its Louisville site. This event is being live-streamed in 185 countries thanks to simultaneous translation.
*Browse More Related Reports*
· Meditation Market size is expected to be worth around *USD 31.9 Bn* by 2032 from *USD 5.3 Bn* in 2022, growing at a *CAGR of 20.2%* during the forecast period from 2023 to 2032.
· Meditation Centers Market size is expected to be worth around *USD 10.1 Bn* by 2032 from *USD 1.8 Bn* in 2022, growing at a *CAGR of 19.4%* during the forecast period from 2023 to 2032.
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· Nootropics Market size is expected to be worth around *USD 13.7 Bn* by 2032 from *USD 4.9 Bn* in 2022, growing at a *CAGR of 11.2%* during the forecast period from 2023 to 2032.*About Us:*
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