The global meditation market is anticipated to rise at a significant rate during the forecast period, 2022 to 2029. Data Bridge Market Research analyzes that the global meditation market will grow at a CAGR of 18.5% during the forecast period from 2022 to 2029 and is expected to reach USD 20,532.44 million by 2029 versus USD 5,295.07 million in 2022. Increasing healthcare spending and a Escalation in innovations and technologies are major drivers expected for the growth of the market over the forecast period.
Meditation can be defined as a set of techniques aimed at promoting a heightened state of awareness, focused attention and stress reduction. Meditation is also a mind-altering technique that has been shown to have a variety of mental well-being benefits.
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Scope and market size of the global meditation market
The global meditation market is segmented by product, meditation type, indication, type, age group, usage, information source, and end-use. Growth between segments helps you analyze growth niches and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of product, the global meditation market is segmented into apps, websites, books, online courses, yoga centers, meditation programs, and workshops. In 2022, apps, websites, books and segments are expected to dominate the market as they are easily accessible and user-friendly for beginners.
- On the basis of meditation type, the global meditation market is segmented into progressive relaxation/body scan meditation, mindfulness meditation, breath awareness meditation, spiritual/transcendental meditation, zen meditation, kundalini yoga, and metta meditation. In 2022, the progressive relaxation/bodyscan meditation segment is expected to dominate the market as progressive relaxation brings a variety of benefits including the development of a sense of well-being, lower blood pressure, reduced muscle tension and therefore a reduction in need the body of oxygen and reduces fatigue and anxiety.
- On the basis of indication, the global meditation market is segmented into mental conditions (stress/anxiety disorders/mood disorders/depression) and physical conditions (pain/insomnia/asthma/drug abuse/pregnancy). In 2022, due to the increasing prevalence of mental disorders, the mental illness segment is expected to dominate.
- On the basis of Type, the global meditation market is segmented into overt surveillance, focused attention, and self-transcending meditation. In 2022, the overt surveillance segment is expected to dominate due to the benefits it offers to the user, such as stress relief, better thinking, increased emotional intelligence, and the ability to overcome mental bias.
- On the basis of age group, the global meditation market is segmented into adults and children. The adult segment is expected to dominate the market in 2022 as relatively adults are more drawn to meditation practices as they induce a sense of calm, peace and balance that can benefit both emotional well-being and overall health .
- On the basis of usage, the global meditation market is segmented into individuals and groups. In 2022, individual segments are expected to dominate the market because it allows one to choose the variables of one’s meditation practice: duration, space, and level of stillness.
- On the basis of information source, the global meditation market is segmented into Internet and Books/Newspaper/Articles. In 2022, the internet segment is expected to dominate the market as the internet is easily accessible around the world and a lot of information about different types of meditation is available on the internet.
- On the basis of end use, the global meditation market is segmented into Home Environment, Meditation Centers, Enterprise/School/College. In 2022, the home environment segment is expected to dominate the market due to the outbreak of the coronavirus pandemic, which restricted outdoor exercise and the growing pool of mental disorder patients.
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Country level analysis of the global meditation market
The global meditation market is segmented by product, meditation type, indication, type, age group, usage, information source, and end-use.
The countries covered in the global Meditation Market report are North America, Europe, Asia-Pacific, South America, and Middle East & Africa. These regions are further divided into major countries like USA, Canada, Mexico, Germany, France, UK, Hungary, Lithuania, Austria, Ireland, Norway, Poland, Italy, Spain, Russia, UK, Germany, Italy, France, Russia , Netherlands, Switzerland, Turkey, Belgium, Rest of Europe, China, India, Japan, Australia, South Korea, Singapore, Indonesia, Thailand, Malaysia, Philippines, Rest of Asia Pacific, Saudi Arabia, United Arab Emirates, Israel, Egypt, South Africa, Rest of Middle East and Africa, Brazil, Argentina and Rest of South America.
Asia Pacific is expected to dominate the global meditation market owing to increasing technological advancements in the region, and Asia Pacific is expected to grow at the highest CAGR over the forecast period as awareness of meditation among people of the region grows. Asia Pacific is dominating the market and leading the growth in the global meditation market as Asia Pacific is expected to grow at the most promising growth rate during the forecast period of 2022-2029 due to the high prevalence of mental disorders and thriving yoga centers and meditation programs. China dominates the Asia-Pacific market due to rising disposable incomes in the country. The market in Europe is expected to grow significantly during the forecast period of 2022 to 2029 owing to the technological advancements in the region. Germany dominates the European market due to a large number of market participants. The meditation market by product segment in Asia-Pacific is projected to grow at the fastest pace, dominating the North America region during the forecast period of 2022 to 2029 owing to increasing innovations and technologies. The USA is the market leader in the North America region and the apps, websites and books segment dominates the country due to the increasing demand for meditation apps to treat mental disorders. Furthermore, the apps, websites and books segment dominates in the UK, which is the leader in the Europe region due to the presence of a larger number of users in the country.
The country section of the report also includes individual market influencing factors and domestic regulatory changes impacting the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory laws, and import-export duties are some of the key pointers used to forecast market scenario for individual countries. It also considers the presence and availability of global brands and their challenges due to high or low competition from local and domestic brands, as well as the impact of distribution channels while providing forecast analysis of country data.
Competitive Landscape and Global Market Share Analysis for Meditation
Global Meditation Market competitive landscape provides competitor details. Details included are company overview, company finances, revenue generated, market potential, R&D investments, new market initiatives, manufacturing locations and facilities, company strengths and weaknesses, product launch, product testing pipelines, product approvals, patents, product breadth, and breadth, application dominance, and technology lifeline curve. The data points provided above are only related to the companies’ focus towards the global Meditation Market.
The key players covered in the report are Smiling Mind, Inner Explorer Inc., Committee for Children, Stop, Breathe & Think PBC, Simple Habit, Inc., Calm, Headspace Inc., Inscape, Insight Network Inc., Waking Up, LLC, FeelVeryBien, sas, MEDITOPIA, BetterMe, Aura Health, Sanity & Self, TEN PERCENT HAPPIER, Inward Inc, Portal Labs Ltd., MOBIO INTERACTIVE, MindfulnessEverywhere among other national and global players. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many product launches and agreements are also initiated by the companies worldwide which continue to accelerate the global meditation market.
- In May 2021, MOBIO INTERACTIVE announced that they have developed personalized mental health therapy for people affected by the COVID-19 pandemic, which has had an adverse impact on mental health around the world, causing increased stress, anxiety and depression . This therapy has helped people tremendously during the pandemic and thereby generated more revenue for the company
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