Yoga Market To Witness A Significant Growth Of USD 200.35 Billion By 2030

 San Francisco, 26 Feb 2024: The Report Yoga Market Size, Share & Trends Analysis Report By Delivery Mode (Online Yoga Course, Offline Yoga Course), By End-use (Male, Female), By Age Group (Below 18 Years, 18-29 Years), By Region, And Segment Forecasts, 2024 - 2030

The global yoga market size is expected to reach USD 200.35 billion by 2030, registering a CAGR of 9.4% from 2024 to 2030, according to a new report by Grand View Research, Inc. Consumers are becoming increasingly aware of stress relief and mental health benefits associated with yoga which has led to a shift beyond physical fitness. The surge in health consciousness, coupled with a shift towards holistic lifestyles will drive the market growth. Studies demonstrating the effectiveness of yoga in managing various health conditions have fueled the demand for restorative yoga, therapeutic yoga, prenatal yoga, and hatha yoga. According to the WHO, every year hypertension affects over 1 billion adults worldwide. The population suffering from hypertension accounts for up to 45% of the adult population. By 2025, the number of people with hypertension is expected to increase by 15-20%, reaching almost 1.5 billion.

The integration of technology has allowed the yoga industry to expand its reach. Advancements such as online platforms, mobile apps, virtual reality (VR), and wearable tech have made yoga more accessible, enabling individuals to practice their homes. Moreover, the availability of digital platforms and mobile applications that offer virtual yoga classes has significantly widened access and participation. These platforms offer convenience and accessibility, allowing individuals to practice yoga remotely, access various classes, and learn from renowned instructors regardless of location. For instance, in September 2023, Cult. Fit, an India-based health and fitness brand, announced the launch of Evolve Yoga, a new evidence-based, transformative yoga format designed to enhance flexibility and mobility.

The popularity of yoga among high-profile celebrities and athletes is also influencing public perception and increasing its popularity. Moreover, busy lifestyles and increased stress drive demand for convenient and accessible fitness options like yoga. In addition, there has been an increase in the demand for yoga retreats and vacations focused on yoga. This trend provides tourism destinations with an opportunity to cater to the growing demand for yoga-related travel experiences. According to GWI, the global wellness tourism industry generated USD 651 billion in 2022, and it is expected to grow at a rate of 16.6% annually, with a projected value of USD 1.4 trillion in 2027.

Factors such as busy work schedules and rising disposable incomes in both developed and developing economies are allowing individuals to spend more on their health and well-being. This has led to a rise in investment in yoga classes, retreats, and accessories. In addition, the availability of free online resources, discount studios, and community classes has made yoga accessible to budget-conscious individuals. According to the CDC’s National Diabetes Statistics Report for 2022, around 37.3 million people, or 11.3% of the U.S. population, have diabetes. Research has shown that yoga can effectively improve glycemic control, reduce stress, and enhance overall well-being for individuals with diabetes.

Employers have realized the benefits of yoga in reducing stress, improving employee well-being, and enhancing productivity. This has led to the inclusion of yoga sessions as part of workplace wellness programs. Moreover, yoga studios partner with local organizations to encourage the participation of yoga practitioners and promote community well-being. For instance, in July 2022, CorePower Yoga announced a collaboration with Thompson Hotels to help people maintain fitness and wellness as part of their lifestyle and travel experiences. The rooftop workout classes are rooted in the mindfulness of yoga, and designed to transform the minds and bodies of guests, CorePower Yoga members, and locals.

Access Research Report of Yoga Market @ https://www.grandviewresearch.com/industry-analysis/yoga-market-report

Yoga Market Report Highlights

• Offline yoga course dominated the market in 2023. Offline yoga courses offer the advantage of direct interaction with a qualified yoga instructor who can provide personalized guidance and feedback, aiding in proper form and preventing injuries. These offerings are targeted at specific demographics or focused on specialized areas such as yoga for stress relief, therapeutic yoga, prenatal yoga, and yoga for athletes
• Demand from male segment is expected to surge in the forecast period. Increasing awareness of its physical and mental benefits led to a significant rise in male participation. Men are becoming more aware of the diverse health benefits of yoga beyond traditional fitness routines. They appreciate yoga for its ability to improve flexibility, build strength, enhance balance, and complement other forms of exercise
• 30-50 years age group segment held the majority revenue share in 2023. Yoga becomes a means of stress reduction, fitness maintenance, and mental relaxation for individuals within this age bracket. Moreover, increased awareness of the benefits of managing chronic health conditions is supplementing the segment growth
• Asia Pacific is anticipated to grow with the highest CAGR over the forecast period. This is due to factors such as rising disposable incomes and government initiatives promoting yoga through policies and initiatives for raising awareness of its benefits. Growing middle-class population, particularly in countries including China, India, South Korea, and Japan creates disposable income for premium yoga experiences and wellness activities

Yoga Market Report Scope

Report Attribute	Details
Market size value in 2024	USD 116.57 billion
Revenue forecast in 2030	USD 200.35 billion
Growth rate	CAGR of 9.4% from 2024 to 2030
Base year for estimation	2023
Historical data	2018 - 2022
Forecast period	2024 - 2030

List of Key Players in the Yoga Market

• CorePower Yoga
• Honor Yoga
• Pure Yoga
• Glo Digital, Inc.
• YogaOne
• YogaSix
• Yoga Pod
• MoreYoga
• Power Yoga Canada
• Flyogi LLC

Access Press Release of Yoga Market @ https://www.grandviewresearch.com/press-release/global-yoga-market