Here are some facts from yoga industry statistics
- Whopping $6 billion was spent on yoga products last year
- A simple search for “Yoga” returns 61,974 results on Amazon
- One in 10 Americans now practice yoga
- Yoga is being practiced in USA since late 19th century but it only gained popularity around 1960s
- The percentage of people that practice Yoga increases on an average of 20-25% every year.
- Spendings on Yoga products have increase by 87% in the past 5 years
- 72.2% practicing yoga are women; 27.8% are men
- Median Household Income: $82,200, 44% of yogis have household incomes of $75,000 or more; 24% have more than $100,000.
- Yoga will be mainstreams in corporate world.
- Companies looking to associate their products or services with a wellness lifestyle will turn to yoga imagery (think Worldly-Wise by Morgan Stanley). A sexy yogini sipping a glass of wine while sitting in lotus position on the hood of a car is not out of the question if it helps sell a car.
- Asia will be a growth market for yoga.
- New training—With overall growth of the wellness industry, new training programs to support practitioners in demand, including advanced professional development and business training.
- Insurance companies are already paying for yoga
- Yoga will be prescribed by the doctor
- Yoga’s growth is part of a bigger wellness trend. Those companies that want to capitalize off the trend will add services such as nutritional programs, exercise routines, spa services and wellness consultations in conjunction to yoga offerings.
Conclusion: Yoga as a business is a HUGE market, what’s your take?
All warm wishes
Tamara Machavariani
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