The popularity of meditation is on the rise as individuals recognize its benefits in alleviating stress, enhancing mental health, and promoting overall well-being. The increase in technology, particularly meditation apps, has simplified the practice. Moreover, companies and healthcare providers are incorporating meditation to enhance employee well-being and healthcare outcomes. Meditation has various forms, serving diverse purposes, such as stress reduction and heightened concentration. It has also gained more importance due to celebrity advertisements and its widespread presence on social media.
According to Data Bridge Market Research analyses, the Global Meditation Market is growing with a CAGR of 18.5% in the forecast period of 2023 to 2030 and is expected to reach USD 23,192.12 million by 2030 from USD 6,251.97 million in 2022.
“Rising demand for meditation as a stress relief boosts the market growth"
Meditation has gained significant popularity due to its proven health and mental benefits. It reduces stress, anxiety, and depression while improving concentration, sleep quality, and emotional well-being. Additionally, it can lower blood pressure, enhance the immune system, and help manage chronic pain. It promotes self-awareness and personal growth and fosters a sense of compassion, making it a valuable tool for well-being in today's fast-paced world. The increasing demand for stress relief and mental wellness solutions has led to a growing market for meditation programs and apps, as more individuals recognize its positive impact on overall health and mental fitness.
What restraints the growth of the global meditation market?
“Digital literacy gap hinders the growth of the market"
The meditation market encounters a hurdle as it heavily relies on digital technology, which can be a source of difficulty for older individuals. Meditation apps, online platforms, and wearable meditation devices are integral to this market, but many older individuals may face discomfort in utilizing these tools, hindering their participation in the wellness trend.
Segmentation: Global Meditation Market
The global meditation market is segmented on the basis of product, meditation type, indication, type, age group, usage, information source, and end use.
- On the basis of product, the global meditation market is segmented into apps, websites, books, online courses, yoga centers, meditation programs, and workshops.
- On the basis of meditation type, the global meditation market is segmented into progressive relaxation/body scan meditation, mindfulness meditation, breath awareness meditation, spiritual meditation/ transcendental meditation, zen meditation, kundalini yoga, and metta meditation.
- On the basis of indication, the global meditation market is segmented into mental condition (stress/anxiety disorders/mood disorders/depression) and physical condition (pain/insomnia/asthma/substance abuse/pregnancy).
- On the basis of type, the global meditation market is segmented into open monitoring, focused attention, and self-transcending meditation.
- On the basis of age group, the global meditation market is segmented into adults and children.
- On the basis of usage, the global meditation market is segmented into individual and group.
- On the basis of information source, the global meditation market is segmented into internet and books/newspaper/articles.
- On the basis of end use, the global meditation market is segmented into home setting, meditation centers, and corporates/schools/colleges.
Regional Insights: North America is expected to dominate the Global Meditation Market
In North America, the U.S. is expected to dominate due to its strong economy and the presence of major market players, and technological advancements. In Europe, the U.K. dominates the growth of the market because the wellness industry, particularly in meditation-related products, is thriving, driven by increased demand from emerging markets. In Asia-Pacific, China is expected to dominate due to a rising prevalence of mental health issues, indicating a growing demand for related products and services.
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Recent Development in the Global Meditation Market
- In May 2021, MOBIO INTERACTIVE developed personalized mental health therapy to address the pandemic-induced surge in stress, anxiety, and depression, leading to increased company revenue.
- In April, Green Shield Canada partnered with Mobio Interactive to offer AmDTx, a meditation program with advanced features that helped users measure its impact on their mental well-being, subsequently boosting program enrollment and company sales.
The Prominent Key Players Operating in the Global Meditation Market Include:
- Smiling Mind (Australia)
- Inner Explorer Inc. (U.S.)
- Committee for Children (U.S.)
- Stop, Breathe & Think PBC (U.S.)
- Simple Habit, Inc. (U.S.)
- Calm (U.S.)
- Headspace Inc. (U.S.)
- Inscape (U.S.)
- Insight Network Inc. (U.S.)
- WAKING UP, LLC (U.S.)
- MEDITOPIA (Turkey)
- BetterMe (Ukraine)
- Aura Health (U.S.)
- Sanity & Self: New York City, New York, (U.S.)
- TEN PERCENT HAPPIER (U.S.)
- Inward Inc (U.S.)
- Portal Labs Ltd. (U.K.)
- MOBIO INTERACTIVE (Canada)
- MindfulnessEverywhere (U.K.)
Above are the key players covered in the report, to know about more and exhaustive list of global meditation market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Meditation Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.