Meditation Centers Market By Type (Online and Offline), By Meditation Type (Progressive Relaxation/Body Scan Relaxation, Zen Meditation, Mindfulness Meditation, Breath Awareness Meditation, Metta Meditation, and Other Meditation Types), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, and Forecast 2023-2032

Report Overview

Meditation Centers Market size is expected to be worth around USD 10.1 Bn by 2032 from USD 1.8 Bn in 2022, growing at a CAGR of 19.4% during the forecast period from 2023 to 2032.

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A meditation center is a place where meditation and other related activities have been practiced. The practice may be either in groups or individually. These centers are situated around the world and their services are offered either with paid admission or free by various organizations and individuals.

There are numerous health benefits of meditation and these benefits grab the attention of the majority of the population around the globe. Various meditation centers offer health programs that improve the range of motions & flexibility and also the posture & balance of the body. These factors will propel the growth of the global meditation market.

Market Scope

Type Analysis

Offline Medication Centers Dominated the Segment

The segment is divided into online and offline meditation centers. Offline meditation center holds the majority of shares of the market because it has more advantages over online meditation centers, such as a better environment, proper guidance, proper interaction in person, and others. Whereas, the online segment will register considerable growth during the forecast period. Furthermore, the rapid surge in the use of mobile apps for meditation and an increasing number of smartphone users will propel the growth of the segment.

Meditation Type Analysis

Progressive Relaxation/Body Scan Relaxation held the Largest Share of the Market

The segment is divided into progressive relaxation/body scan relaxation, zen meditation, breath awareness meditation, mindfulness meditation, metta meditation, and other meditation types. Progressive relaxation/body scan relaxation dominated the segment with the highest revenue in the market. The growth of the segment is attributed to the increasing use of meditation for different body relaxation purposes and it will also help in the development of the patient’s well-being.

Key Market Segments

Based on Type

• Online
• Offline

Based on the Meditation Type

• Progressive Relaxation/Body Scan Relaxation
• Metta Meditation
• Zen Meditation
• Mindfulness Meditation
• Breath Awareness Meditation
• Other Meditation Types

Market Dynamics

Drivers

High Cost of Treatment in Hospitals

There are several treatments available in hospitals for the treatment of mental issues, such as mood-stabilizing medications, therapies by psychiatrists, counseling by health professionals, and other treatments. These treatments are so costly that not everyone will able to afford them and they may have different side effects. So, in the present day, people are focusing on meditation because it is the most effective treatment than any other therapy. This will drive market growth.

Restraints

Alternative Treatments Method

Now a day, people are taking several medications to enhance their mood and improve their mental health as an alternative treatment for meditation. Thus, the uneasiness to adapt techniques of meditation and the availability of alternative treatment methods for maintaining mental health is a major factor that hinders the market growth during the forecast period.

Opportunities

The Increasing Prevalence of Mental Disorders

The increasing prevalence of mental disorders across the world is creating numerous opportunities for the market's key players. People are looking for a place where they can acquire peace of mind. The increasing work pressure, hectic lifestyle, depression and anxiety, and other factors will likely open up enormous opportunities to establish numerous meditation centers where people got relief from their stress and live their life happily.

Trends

Availability of Vast Online Courses for Learning Meditations

In the market, the evolving trend in the present day is the increasing number of online courses by meditation centers. During the COVID-19 pandemic, people are not allowed to go outside or gather in public places. That’s why, the meditation centers started the trend of online meditation courses. With the help of these courses, people started to do meditation at their homes. This initiative has boosted the growth of the global meditation center market.

COVID-19 Impact Analysis

COVID-19 Pandemic had a Positive Impact on the Market

The COVID-19 pandemic have a significant impact on the growth of the market. The pandemic forced mankind to stay in their homes for a long time span and these restrictions have resulted in a rise in mental stress and depression since there was a decrease in social interaction. Different wellness organizations started online meditation courses and this will help consumers to relieve mental stress. This has improved the growth of the global meditation center market.

Regional Analysis

Asia Pacific Dominated the Global Meditation Centers Market

Asia Pacific accounted for the largest share of the market of XX% over the forecast period. There are several factors that are responsible for the growth of the market in this region, such as rising awareness about mental health, increasing depression and anxiety problems, hectic lifestyles, and other factors. Furthermore, Asian meditative techniques were spreading to other cultures eventually. It is estimated that the growth of the market in this region will continue over the forecast period.

North America will likely show significant growth over the forecast period. The reason behind the growth is the increasing awareness of the people about health and well-being. Several organizations are trying to develop maximum events to maintain the proper mental health of the population in this region. This will expand the growth of the market in the NA.

Key Regions and Countries Covered in this Report

• North America
  • The US
  • Canada
  • Mexico
• Western Europe
  • Germany
  • France
  • The UK
  • Spain
  • Italy
  • Portugal
  • Ireland
  • Austria
  • Switzerland
  • Benelux
  • Nordic
  • Rest of Western Europe
• Eastern Europe
  • Russia
  • Poland
  • The Czech Republic
  • Greece
  • Rest of Eastern Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Australia & New Zealand
  • Indonesia
  • Malaysia
  • Philippines
  • Singapore
  • Thailand
  • Vietnam
  • Rest of APAC
• Latin America
  • Brazil
  • Colombia
  • Chile
  • Argentina
  • Costa Rica
  • Rest of Latin America
• Middle East & Africa
  • Algeria
  • Egypt
  • Israel
  • Kuwait
  • Nigeria
  • Saudi Arabia
  • South Africa
  • Turkey
  • United Arab Emirates
  • Rest of MEA

Market Share & Key Players Analysis

Numerous Partnerships Are Undertaken by Key Players

Across the world, various agreements and product launches are initiated by numerous companies. Also, key players are undertaking numerous events. This will accelerate the growth of the global meditation center market. For instance, in November 2021, American actor and singer named Demi Lovato announced that they had become an ambassador for Gaia.

Listed below are some of the most prominent meditation center market players.

Market Key Players:

• Shambhala Centers
• Gaia, Inc.
• Sounds True
• TM Centers
• MindBodyGreen LLC.
• Unplug Meditation
• Inner Explorer
• Art of Living Foundation
• Spirit Rock
• Other Key Players

Recent Developments

• In May 2021- MOBIO INTERACTIVE declared that it has launched personalized therapy for patients who were suffering from COVID-19 to address their stress & anxiety levels and improve their mental health.
• In June 2019 - Gaia undertook live-streaming events from a new center at its Louisville campus. With the simultaneous translation, this event is live-streamed in 185 countries.

Report Scope