Self-improvement Market Grows 11.6% to $13.4 Billion

Self-improvement Market Grows 11.6% to $13.4 Billion

Sept. 1, 2023

Marketdata has released a new edition of its best-selling report: The U.S. Market for Self-improvement Products & Services, Sept. 2023.

Major Findings:

This comprehensive 322-page analysis estimates that the self-improvement market in the U.S. was worth $13.47 billion in 2022, up 11.6% from the 2021 level. The market grew
12.2% in 2021 versus the pandemic year.

Nearly all segments of the market improved in 2022, with especially strong growth
posted in the personal coaching, books and audiobooks market segments. There was a shift to virtual delivery of services, more focus on male clients and Millennials.

The self-improvement market in the United States is robust, and has recovered from
the pandemic. The market’s value is estimated to have declined just 7.4% during
2020, then recovered to a 12.2 % gain in 2021 and another 11.6 % gain in 2022.

The self-improvement apps market is estimated by Marketdata to be worth at least
$762 million in the United States in 2022, projected to grow to nearly $1 billion by 2027.
Meditation apps such as Headspace and Calm have built large followings and the Noom
weight loss app takes in more than $400 million a year.

the U.S. personal coaching market was worth $2.08 billion in 2022 – up a very strong
77% from 2020 levels. Americans, especially Millennials, embraced coaching more widely,
and the number of coaches grew.

As Americans hunkered down at home during the pandemic, print book sales in the United States in 2020 had their best year since 2010. Self-help book sales in the U.S. increased by 13% in 2019, with over 40 million units sold and personal transformation, relationships, and motivational books being the top-selling categories.

The self-improvement audiobooks market benefitted from the boom in print book
sales during 2020, as homebound consumers turned to them for safe recreation. Following strong gains in 2020, 2021 should have also been one of growth for
self-improvement audio, as America moved past the pandemic and returned to some
semblance of normal life. We estimate a 12% gain in sales, to $606 million. Marketdata
analysts think that sales grew 10% more in 2022, to a value of $667 million.

The 15 major holistic institutes in the country were devastated by the pandemic. Revenues plummeted from $135 million in 2019 to just $54 million in 2020, rising moderately in 2022.

Marketdata analysts estimate that the United States professional speaking
“industry” in 2023 is worth about $1.77 billion. For an elite group of 18 elite motivational speakers, 2022 revenues are estimated at $368 million.

In-person events and seminars, and infomercials, are struggling.

For More Details and Findings, purchase the complete report, or the 41-page Overview Summary (only $99), at Marketdata’s website store. John LaRosa, Research Director, is available for media interviews and consulting projects. (813-971-8080)