Yoga and Meditation Service Industry Analysis in Europe

Europe Yoga and Meditation Service Industry Outlook from 2024 to 2034

Sales of yoga and meditation services in Europe are expected to be valued at US$ 9,815.7 million in 2024 and are projected to reach US$ 33,344.6 million in 2034. Revenue is anticipated to expand at a CAGR of 13.0% from 2024 to 2034. The demand for yoga and meditation services in Europe was valued at US$ 8,706.3 million in 2023, with a y-o-y growth of 12.5% in 2023.

With good cause, the general public's interest in meditation has grown. Research has demonstrated that mindfulness and meditation exercises enhance emotional control and attention. Furthermore, studies have shown that it lowers blood pressure, reduces the risk of depression, raises body satisfaction, and improves anxiety levels.

The need for yoga and meditation services has increased in Europe due to the rising prevalence of mental diseases, including anxiety and depression, as well as high healthcare costs. The explosion of innovations and technologies drives the domain’s rise in online services. However, there can be room for expansion due to players' strategic moves, the rapid evolution of technology & app development, the growing popularity of smartphones, and dependence on digital platforms.

The increasing number of people practicing meditation is anticipated to push demand in the Europe yoga and meditation sector, perhaps spurring its expansion. Consequently, the enormous advantages of meditation, which help to improve a variety of health disorders, can catalyze the expansion of the yoga and meditation industry in Europe.

Recent advancements seek to support the use of technology for yoga and meditation. Through promoting emotional resonance in groups, social meditation can assist individuals in making connections with both their own and the group's knowledge.

It makes meditation more pleasurable, meaningful, and enduring by fostering a compassionate culture that strongly supports good practice and a sense of belonging and learning within the group. As a result, the sector is anticipated to have chances due to the rapid expansion of technology and app development.

Historical Europe Yoga and Meditation Service Industry Analysis Vs. Forecast

The demand for Europe yoga and meditation services expanded and changed dramatically between 2019 and 2023, with a CAGR of 10.6%. In the aftermath of the pandemic, people's attention is shifting more and more toward their health and mental well-being.

In Europe, a growing population is health conscious. People are searching for easy and practical ways to balance their hectic schedules with their health and mental well-being. The popularity of yoga and meditation as fitness practices has grown recently due to the fast increase in the number of people practicing these services.

Key participants are also concentrating on offering innovative and technologically sophisticated services to draw in an increasing number of clients. Due to the rising number of people using the internet, they also offer extra discounts for online purchases of these services. There are more participants in the sector, and most of them are concentrated on improving the consumer's digital experience.

Key Dynamics in the Europe Yoga and Meditation Service Sector

• Employers Invest Unprecedented Resources in Employees’ Mental Health

The COVID-19 pandemic has made long-standing workplace issues with employee mental health more urgent and severe. In response, several firms in Europe have increased their spending on the mental health and well-being of their employees.

Four of five HR directors state that their company places a high premium on employees' mental health and well-being. Several firms provide a wide range of wellness perks, including training on productivity & time management, yoga, memberships to meditation apps, and days dedicated to well-being. Indeed, nine out of ten organizations are thought to provide several kinds of mental well-being programs. This is expected to drive demand in Europe

• Rising Demand for User-friendly Apps

The wearable gadgets and service business has been significantly influenced by the rise of approachable apps that offer guided meditation sessions and mindfulness activities. These apps enable users to participate in mindfulness and meditation sessions whenever and wherever they choose, regardless of their location. In response to the growing need for convenient and readily available tools for health practices, the sector is further expected to surge in Europe.

Thanks to their user-friendly interfaces, customizable features, and extensive selection of meditation programs, these applications have made mindfulness practices more accessible to a broader audience than simply yoga enthusiasts. The creation of these applications has substantially increased the acceptability and growth of wellness-based technology in Europe by elevating the profile of yoga and meditation practices.

Sudip Saha

Principal Consultant

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Challenges in the Europe Yoga and Meditation Service Domain

• Adapting services to different cultural backgrounds and preferences can be difficult.
• Different countries can have diverse standards and requirements for wellness services, making it difficult for companies to effectively navigate the regulatory environment.
• The yoga and meditation ecosystem has experienced significant growth, resulting in increased competition.
• Educating and raising awareness of potential customers can be an ongoing challenge.

Country-wise Insights

In the below table of the growth potential of yoga and meditation services in Europe, CAGRs of the top countries are provided. Spain will likely lead the field of yoga and meditation services in Europe by exhibiting a CAGR of 16.2% from 2024 to 2034. Italy and Russia are expected to witness yoga and meditation service demand at the CAGRs of 15.1% and 8.5%, respectively.

Awareness about Health Benefits of Yoga and Meditation in Italy Drives Demand

Italy's yoga and meditation service domain is experiencing strong growth, driven by surging interest in health and wellness. The field is expected to surge at a CAGR of 15.1% during the forecast period.

• The most popular yoga styles in Italy are Hatha yoga, Vinyasa yoga, and Kundalini yoga. Meditation is also becoming increasingly popular, with guided meditation being the most popular technique.
• Small studios and independent instructors dominate the yoga & meditation service domain in Italy. However, there are also several large chains, such as Bikram Yoga and Yoga Journal, leading the sector.

Increasing Focus on Mindfulness and Wellness in Spain to Gain Traction

• Spain has a long tradition of holistic health practices, which has made yoga and meditation more popular. Mindfulness and wellness are becoming increasingly popular in Spain, and yoga and meditation are effective ways to achieve it.
• Chronic diseases are a significant problem in Spain, and yoga and meditation are seen as effective ways to manage chronic diseases and improve quality of life.
• There is a growing interest in preventive healthcare in Spain, and yoga and meditation are part of this trend.

Spain's yoga & meditation sector is projected to surge at a CAGR of 16.2% from 2024 to 2034.

Rising Interest in Yoga and Meditation Activities Redefining Health in Russia

• Most people in Russia live in urban areas, with greater access to yoga and meditation studios & classes.
• Millennials in Russia are increasingly set to spend money on health and wellness, including yoga and meditation classes.
• Stress is a significant problem in Russia, and yoga & meditation are seen as effective ways to reduce stress and improve mental well-being.

The yoga & meditation sector in Russia is expected to surge at a CAGR of 8.5% during the forecast period.

Category-wise Insights

The table below highlights the demand for yoga and meditation services in Europe by service type and end-user. Under service type, the travel yoga and meditation retreat segment will likely remain dominant in the assessment period.

The travel yoga and meditation retreat segment is set to showcase a significant CAGR of 16.3% through 2034. Based on end-user, the residential segment is expected to surge at a CAGR of 9.0% by 2034.

Growth Outlook by Key Service Type

Demand to Remain High for Travel Yoga and Meditation Retreats in Europe

• Governments and corporations are investing in creating novel approaches in the wellness tourism industry as it is gaining traction among travelers.
• Travel, hospitality, and wellness are coming together in new and exciting ways as companies are directing toward novel alliances and strategies to assist tourists in integrating well-being into every facet of their journeys.

Based on service type, the travel yoga & meditation retreat segment is anticipated to expand at a CAGR of 16.3% during the forecast period.

Growth Outlook by Key End-user

Residential to Remain the Most Popular End-user in Europe

• People's hectic work schedules and growing stress levels are driving the adoption of easy-to-use wellness services.
• Due to their simplicity, yoga, and meditation are currently popular modalities of health and well-being. As it does not require any installations or set-ups, yoga and meditation can be practiced in a variety of basic settings, including houses.
• Yoga and meditation services are widely utilized in residential neighborhoods as more people choose to work out at home to save time.

The residential segment is anticipated to expand with a CAGR of 9.0% during the projection period.

Competitive Landscape

Leading organizations in Europe are consistently expanding their online presence through creative applications and web-based platforms. Niche studios and instructors who focus on particular areas are growing in terms of popularity. Corporate wellness companies are trying to get more out of the workplace wellness boom by offering exclusive services.

For instance,

• In 2021, the YMCA launched a new national campaign called ‘We Are One,’ which celebrates the diversity and inclusion of the YMCA. The campaign highlights the stories of YMCA members and staff from all walks of life.
• In 2023, Nike launched the Nike Yoga Flow app, a new app that offers a variety of yoga classes for all levels.
• In October 2022, Sharpham Trust introduced the launch of a 40@40 campaign to 'make mental health and wellbeing for all Europe's priority,’ marking World Mental Health Day.
• In September 2021, MAISON ILA launched a meditation program in France. This launch expanded the meditation program in North America, leading to increased patient numbers and revenue.

Scope of the Report

Europe Yoga and Meditation Service Industry Outlook by Category

By Service Type:

• Yoga and Meditation Classes
• Teacher Training Programs
• Travel Yoga and Meditation Retreats
• Online Subscription Services
• Others

By End-user:

• Residential
• Schools and Corporate Industry
• Infotainment
• Other End-users