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 during the historical period can be linked to the management of stress and anxiety, the surge in health and wellness trends, the influence of cultural and spiritual traditions, the scientific validation of their benefits, and the implementation of 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 anticipated growth in the forecast period is driven by several factors: an increased focus on mental health awareness, the integration of mental health practices into overall healthcare approaches, the rise of wellness tourism and retreats, the emergence of digital meditation platforms, and the integration of mental health education into workplace settings. Key trends expected during this period encompass the proliferation of mindfulness-based stress reduction (MBSR) programs, the incorporation of biofeedback and wearable technology in mental health practices, collaborations between mental health initiatives and wellness/fitness brands, the introduction of sleep meditation programs, and a strong emphasis on promoting mental health and emotional well-being across various sectors.

The increasing prevalence of stress and anxiety is expected to drive the expansion of the meditation market. Stress is characterized by any change that causes physical, emotional, or mental discomfort, while anxiety involves feelings of tension, worrisome thoughts, and physiological changes such as increased blood pressure. Meditation promotes feelings of calmness, tranquility, and equilibrium, which can improve both emotional and overall well-being. It is also utilized to alleviate anxiety and induce relaxation by shifting focus to calming stimuli. For example, the Centers for Disease Control and Prevention, a US federal agency under the Department of Health and Human Services, reported that between August 2020 and February 2021, the percentage of individuals experiencing recent anxiety or depressive symptoms rose from 36.4% to 41.5%. Similarly, in April 2022, the American Institute of Stress found that over one-third of individuals reported increased difficulty in making day-to-day decisions (36%) and important life decisions (35%) compared to before. Consequently, the growing incidence of stress and anxiety is propelling the growth of the meditation market.

The increasing popularity of meditation apps is expected to drive the expansion of the meditation market in the future. Meditation apps are digital tools created to assist users in practicing mindfulness and meditation through guided sessions, audio tracks, and various other features. These apps are available across multiple operating systems and often offer a paid service option. The market is being propelled by the growing demand for applications that offer mindfulness meditation on platforms such as iOS and Android, as well as the increasing trend of using technology to personalize experiences and build connections with users. For example, in May 2022, Arka Softwares, an India-based software company, predicted that by 2026, revenue from meditation applications would reach $6,717.18 million. Therefore, the surge in meditation apps is fueling the growth of the meditation market.

Key players in the meditation market are concentrating on developing cutting-edge technological solutions, particularly mobile and electronic applications, to fortify their market positions. A mobile app, specifically tailored for wireless computing devices such as smartphones and tablets rather than traditional computers, represents a focal point in this drive. For example, in May 2022, Mobio Interactive, a Singapore-based app developer specializing in a digital theragnostic platform powered by AI, unveiled the AmDTx app. This app delivers an array of psychotherapy options, with a significant emphasis on medical-grade mindfulness meditation activities, accessible through various pathways. Additionally, it offers features such as assessing stress levels via a mobile camera, self-evaluations for stress, intuitive mood tracking, and free-form writing capabilities. Furthermore, the app facilitates the completion of meditation sessions and digitally transmitted psychotherapy through diverse training functionalities, including self-guided and intent-based methods.

Key players in the meditation market are directing their efforts towards pioneering solutions such as Calm-inspired meditation and mental health platforms to fortify their market presence. A meditation and mental health platform typically denotes a digital application offering a range of resources supporting mental well-being, including guided meditations, sleep aids, relaxation tools, and educational material. For example, in July 2023, Muvi One, a US-based comprehensive OTT platform provider specializing in audio and video streaming solutions, unveiled a meditation and mental health platform reminiscent of Calm. This platform encompasses tailored meditation sessions tailored to users' preferences and needs, in-app purchases or subscription options for extra content or features, progress monitoring, and statistics tracking user advancement.

In September 2022, Headspace Health, a US-based provider of mental health and wellbeing solutions, acquired Shine for an undisclosed amount. This acquisition expands Headspace Health's range of services, enabling the delivery of more comprehensive self-care content to its expanding global membership. Shine, a US-based company, provides daily meditations, self-care courses, personalized support, and virtual workshops.

Major companies operating in the meditation market report are Stop Breathe and Think PBC, Mindfulness Everywhere, Insight Network Inc., BetterMe BUSINESS HOLDINGS CORP., The Meditation Company GmbH, Calm.com Inc., Mindbody Inc., Headspace Inc., Chopra Global LLC, Gaia Inc., Committee for Children, Sattva Inc., Gaiam Brands LLC, Meditopia Inc., Smiling Mind Ltd., Wildflowers Mindfulness Ltd., Sanity and Self Inc., Yoga International LLC, Aura Health Inc., Simple Habit Inc., Portal Labs Ltd., Mobio Interactive Pte Ltd., Unplug Meditation LLC, Happify Inc., Inner Explorer Inc., Waking Up LLC, FeelVeryBien SAS, Ten Percent Happier Inc., Breethe Inc., Omvana Inc., Mindful Communications Inc., Journey Meditation Inc., Prana Breath Ltd., MindTastik LLC, Sanvello Health Inc., Zenify technologies Inc.

North America was the largest region in the meditation market in 2023. The regions covered in the meditation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the meditation market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Meditation comes in various types such as open monitoring, focused attention, and self-transcending meditation. Open monitoring allows ideas to flow through the mind, reducing stress and enhancing happiness and overall mental health. It is linked to improved memory, productivity, and self-awareness. Types of meditation include zen meditation, metta meditation, spiritual or transcendental meditation, progressive relaxation or body scan meditation, mindfulness meditation, breath awareness meditation, and kundalini yoga. Meditation can be practiced by adults and children in various settings such as meditation centers, homes, corporate or educational environments.

The meditation market research report is one of a series of new reports that provides meditation market statistics, including the meditation industry global market size, regional shares, competitors with a meditation market share, detailed meditation market segments, market trends, and opportunities, and any further data you may need to thrive in the meditation industry. This meditation market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The meditation market includes revenues earned by entities by providing services such as applications, publications, online meditation courses, meditation workshops, and yoga facilities. This market covers other forms of meditation such as mindfulness, mantra yoga, mantra meditation, or Japa. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.