Oct. 17, 2022
According to Marketdata’s new 79-page report: “The U.S. Meditation Market”, Oct. 2022, 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 yoga studios have had to adjust and incorporate new technology that makes their service more accessible.
An estimated 36 million U.S. adults now meditate — increasing more than threefold from 4.1% in 2012 to 14.2% now. 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 yoga enthusiast.
Top 6 things to know about this market:
Market Size… 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.
Market Structure… There are an estimated 990 meditation centers in the U.S., mostly non-profit organizations. They generated $192 million in revenues in 2019, but revenues fell 21% in 2020-2021, due to the pandemic. 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.
Meditation Apps… There are at least 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: Insight Timer, Calm, and Headspace. Meditation apps have soared in popularity but growth is slowing. Apps are fine but experts say that in-person guidance by a trained teacher is much more effective.
Demographics… It’s estimated that the average meditator 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.
Competition… A total of 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.
For More Information About This Niche, Growth Market:
See the Studies section of this website (Services tab on home page) for a report description and complete Table of Contents. The report is 79 pages long and contains 18 competitor profiles. This is believed to be the most up-to-date and in-depth business analysis of this market ever performed. It contains a custom analysis of IRS 990 tax forms data (revenues) for non-profit meditation centers that shows the effects of the 2020-2021 pandemic. The report costs $995. An 18-page Overview Summary is also available, for $99.