The Meditation Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Meditation Global Market Report 2024, The meditation market size has grown exponentially in recent years. It will grow from $6.61 billion in 2023 to $8.05 billion in 2024 at a compound annual growth rate (CAGR) of 21.8%. The growth in the historic period can be attributed to stress and anxiety management, rising health and wellness trends, cultural and spiritual traditions, scientific validation of benefits, corporate wellness programs.
The meditation market size is expected to see exponential growth in the next few years. It will grow to $18.21 billion in 2028 at a compound annual growth rate (CAGR) of 22.7%. The growth in the forecast period can be attributed to focus on mental health, integration into healthcare practices, wellness tourism and retreats, digital meditation platforms, education and workplace integration. Major trends in the forecast period include mindfulness-based stress reduction (MBSR) programs, incorporation of biofeedback and wearable technology, collaborations with wellness and fitness brands, introduction of sleep meditation programs, emphasis on mental health and emotional well-being.
The increased incidence of stress and anxiety is expected to propel the growth of the meditation market. Stress is defined as any type of change that causes physical, emotional, or mental pain. While anxiety refers to a sensation of tension, concerned thoughts, and bodily changes such as elevated blood pressure, meditation induces a sense of serenity, tranquility, and balance, which can enhance both emotional health and general health. It is also used to reduce anxiety and relax by redirecting attention to something soothing. For instance, according to the Centers for Disease Control and Prevention, a US-based federal agency that works for the Department of Health and Human Services, during the period of August 2020–February 2021, the percentage of people with recent anxiety or depressive symptoms elevated from 36.4% to 41.5%. Similarly, in April 2022, according to the American Institute of Stress, more than one-third reported that making day-to-day decisions (36%), as well as important life decisions (35%), was more difficult than before. Therefore, increased stress and anxiety incidence is driving the growth of the meditation market.
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The meditation market covered in this report is segmented –
1) By Type: Open Monitoring, Focused Attention, Self-Transcending Meditation
2) By Meditation Type: Zen Meditation, Metta Meditation, Spiritual Meditation Or Transcendental Meditation, Progressive Relaxation Or Body Scan Meditation, Mindfulness Meditation, Breath Awareness Meditation, Kundalini Yoga
3) By Age: Adult, Children
4) By End-User: Meditation Centers, Home Setting, Corporates Or Schools Or Colleges
Top Major Players:
Stop Breathe and Think PBC
Mindfulness Everywhere
Insight Network Inc.
BetterMe BUSINESS HOLDINGS Corp
The Meditation Company GmbH
North America was the largest region in the meditation market in 2023.
Major companies operating in the meditation market are focused on developing innovative solutions such as Calm-like meditation and mental health platforms to strengthen their position in the market. A meditation and mental health platform typically refer to a digital application that offers a variety of resources to support mental well-being, such as guided meditations, sleep aids, relaxation tools, and educational content. For instance, in July 2023, Muvi One, a US-based all-in-one OTT platform provider that offers audio and video streaming solutions, launched a Calm-like meditation and mental health platform. This platform includes features such as personalized meditation sessions based on user preferences and needs, in-app purchases or subscriptions for additional content or features, progress tracking, and statistics to monitor user progress.
The meditation market report table of contents includes:
1. Executive Summary
2. Meditation Market Characteristics
3. Meditation Market Trends And Strategies
4. Meditation Market – Macro Economic Scenario
5. Global Meditation Market Size and Growth
…..
32. Global Meditation Market Competitive Benchmarking
33. Global Meditation Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Meditation Market
35. Meditation Market Future Outlook and Potential Analysis
36. Appendix
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