Global Meditation Market Report and Forecast 2024-2032

Global Meditation Market Outlook

The global meditation market size was valued at USD 6.19 billion in 2023, driven by the increasing prevalence of increasing self-awareness among people across the globe. The market size is anticipated to grow at a CAGR of 19.1% during the forecast period of 2024-2032 to achieve a value of USD 29.86 billion by 2032.

Global Meditation Market Overview

The key players in the market are increasingly focusing on developing and launching new software applications for the end users to meditate wherever and whenever they want. The increased influence of social media influencers and other celebrities is also playing a major role in the global meditation market growth. Increased use of meditation by people for overcoming their depression, insomnia, stress, and anxiety among other conditions is a major trend influencing the market growth.

Additionally, the increased awareness among people towards creating healthy mental health is also playing a significant role in the market. The key players in the market are majorly investing in and supporting the development and growth of new products, including devices or software applications, further intensifying the meditation market demand. The market is also witnessing technological development and the escalation of mental disorders among people, further driving the market growth.

Impact of Celebrity Influence on the Market

In August 2023, Bollywood actor and investor Suniel Shetty collaborated with the founder and CEO of Veda Rehabilitation & Wellness, Manun Thakur, to launch a new mental health app called 'Lets Get Happi'. This partnership is focused on supporting mental health, the app is developed to offer 24x7 access to real-time therapy and aims to address the urgent need for affordable, inclusive, and stigma-free mental health care.

The presence of celebrities around the globe has a huge influence on people. With an active presence on social media, people religiously follow celebrities. Another notable factor that is expected to gain traction among people about this app is the focus on providing affordable, inclusive, stigma-free mental health care. Such targets motivate more people to participate and take care of their mental health.

Rise in New Launches

In July 2023, Live Nation, the world’s leading entertainment company that controls the lion’s share of the live events market and counts TicketMaster and Roc Nation as subsidiaries, launched an app called Mindful Nation that blends music and meditation and is targeted at the general population.

Mindful Nation began primarily as a B2B platform bringing live sessions to elevate corporate culture, launched by Niamh McCarthy, a former artist manager who worked for Madonna and U2’s management team at Maverick. The combination of music and meditation will help people reconnect with themselves and their surroundings better, resulting in better mental and physical health. The factors contributing to the increased adaptation of such technologies by people are resulting in heightened global meditation market demand. Such meditation technologies enable people to take care of their mental health at their convenience without having to leave their houses.

Government Initiatives and Elevated Tourism Aiding the Market Growth

People are increasingly choosing to take time off their busy schedules and spend it on mindful practices. In December 2022, the Uttarakhand Tourism Development Board (UTDB) announced a financial incentive scheme of up to INR 5 lakh (USD 6000) per tour operator for tour operators booking international tourists for the International Yoga Festival (IYF) 2023 to be held at Rishikesh. The board offered this incentive scheme to travel operators who are accredited by the International Association of Tour Operators (IATO), Ministry of Tourism (MOT), and UTDB.

Initiatives like this hold promising potential in elevating global yoga and meditation tourism due to factors such as the Indian government offering the scheme to travel operators who are accredited with government bodies, to add credibility, awareness, and reliability among operators and tourists as well. The global recognition of this event is a major factor that contributes to the credibility of India as the yoga and wellness hub, propelling market growth.

Research Studies Adding the Credibility

The global meditation market demand is poised to be driven by several research studies. For instance, in June 2023, a study “Meditation and Its Mental and Physical Health Benefits in 2023” conducted by Internal Medicine, California Institute of Behavioral Neurosciences & Psychology, Fairfield, USA, concluded that meditation practices have several health benefits on an individual’s immune system and genetics. Mindfulness showcased improved anti-inflammatory response and healthy aging by appropriate telomerase regulation. Both physical and mental health were also positively impacted by meditation.

Such studies may spark interest among more researchers to study further the benefits and impact of meditation on people including physical health and neurological aspects, further boosting the meditation awareness among people.

Global Meditation Market Segmentations

Market Breakup by Delivery Mode

• Online
  • Apps
  • Websites

• Offline
  • Books
  • Yoga Centers
  • Meditation Programs and Workshops

Market Breakup by Meditation Type

• Mindfulness Meditation

• Spiritual Meditation

• Focused Meditation

• Movement Meditation

• Mantra Meditation

• Transcendental Meditation

• Progressive Relaxation

• Visual Meditation

• Loving-Kindness Meditation

Market Breakup by Indication

• Mental Condition

• Physical Condition

Market Breakup by Age Group

• Adults

• Children

Market Breakup by End User

• Home Settings

• Meditation Centers

• Corporates/Schools/Colleges

Market Breakup by Region

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East and Africa

Global Meditation Market Regional Analysis

Considering the regional market landscape, North America is dominating the market due to factors such as technological advancements and increasing awareness among people about health and fitness. The increasing prevalence of anxiety disorder, depression, work-life burnout, and lack of motivation and purpose in life are major factors contributing to the increasing adaptation of meditation technologies such as meditation mobile apps, websites, and meditation books in the global market.

Increasing adaptation is adding further growth to the increasing demand for such solutions to overcome the above-mentioned conditions, contributing significantly to the rising meditation market share. Several research focused on mental health have shown that meditation may be a useful addition to the treatment of mental health problems, particularly mood and anxiety disorders. For instance, the findings from a study showed that about 9.3 million US adults used meditation and mental health problems were the most important reason for meditation use. Meditation is a mind-body practice originating from Eastern traditions, with a history spanning more than 3000 years.

Global Meditation Market: Competitor Landscape

In January 2023, Headspace Inc., the provider of the world’s most comprehensive digital mental health platform, announced the expansion of its care services for organizations headquartered outside of the United States.

The key features of the meditation market report include patent analysis, grants analysis, clinical trials analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:

• Headspace Inc.

• Simple Habit, Inc.

• Breathe & Think PBC

• Inner Explorer Inc.  

• Inscape

• Insight Network Inc.

• Waking Up, LLC

• MEDITOPIA 

• BetterMe

• Aura Health

• Sanity & Self

• Portal Labs Ltd.

• MOBIO INTERACTIVE

• Smiling mind

• Inward

Please note that this only represents a partial list of companies, and the complete list has been provided in the report.

Key Highlights of the Report