Summary
- • The self-help industry was valued at $11.6 billion in 2019
- • The self-help market is expected to reach $13.2 billion by 2022
- • The global personal development market size is expected to reach $56.66 billion by 2027
- • The self-improvement market has grown at 5.6% average yearly pace since 2015
- • 18-35 year olds spend twice as much on self-improvement as those over 55
- • 94% of millennials reported making personal improvement commitments
- • Self-help books account for 5.7% of the total book market
- • The number of self-help books published annually has tripled since 2013
- • 'The 7 Habits of Highly Effective People' has sold over 40 million copies worldwide
- • The life coaching industry is worth $2.85 billion globally
- • There are approximately 71,000 life coaches worldwide
- • The average annual income for life coaches is $62,500
- • 77% of life coaches expect an increase in clients in the next 12 months
- • The global meditation market was valued at $1.2 billion in 2020
- • The meditation market is expected to grow at a CAGR of 11.5% from 2021 to 2028
Buckle up, self-improvement enthusiasts, because the numbers are in and the self-help industry is booming louder than a Tony Robbins pep talk! With a market valued at $11.6 billion in 2019 and set to soar to $13.2 billion by 2022, it seems like were all in constant pursuit of being our best selves, one life coach session or yoga class at a time. From millennials making personal commitments to the global rise of mindfulness apps like Headspace, its clear that self-improvement isnt just a trend—its a thriving empire where even The 7 Habits of Highly Effective People can sell over 40 million copies. So grab your green juice, strike a warrior pose, and lets dive into the staggering stats and serene success stories of an industry thats got us all reaching for the stars, one self-help book and meditation session at a time.
Books and Publishing
- Self-help books account for 5.7% of the total book market
- The number of self-help books published annually has tripled since 2013
- 'The 7 Habits of Highly Effective People' has sold over 40 million copies worldwide
- The self-help audiobook market grew by 5.7% in 2020
- 'The Secret' by Rhonda Byrne has sold over 30 million copies worldwide
- Self-help ebooks account for 15% of all ebook sales
- 'You Are a Badass' by Jen Sincero has sold over 3 million copies
- Self-help podcasts have seen a 40% increase in listenership since 2018
Interpretation
The rise of self-help literature and media is not just a passing trend, but a booming industry that reflects a society constantly seeking ways to improve and empower itself. From the timeless wisdom of 'The 7 Habits of Highly Effective People' to the modern manifestos like 'You Are a Badass', it's clear that individuals are hungry for guidance and motivation. With self-help books now a significant player in the book market and the audiobook and podcast sectors experiencing significant growth, it seems we are all on a collective journey towards personal growth and self-discovery - one bestselling title at a time.
Coaching and Mentoring
- The life coaching industry is worth $2.85 billion globally
- There are approximately 71,000 life coaches worldwide
- The average annual income for life coaches is $62,500
- 77% of life coaches expect an increase in clients in the next 12 months
- 75% of Fortune 500 companies offer executive coaching to their leaders
- The return on investment for executive coaching is estimated to be 7 times the initial investment
- 51% of life coaches focus on business coaching
- 70% of life coaching clients report improved work performance after coaching
- The average coaching engagement lasts 7 months
Interpretation
In a world where everyone is constantly seeking the secret to success and the key to unlocking their full potential, the self-help industry stands tall as a $2.85 billion powerhouse of transformation and motivation. With approximately 71,000 life coaches globally, it seems like we can't get enough of those uplifting pep talks and goal-setting sessions. And it's no wonder, with the average income for a life coach at $62,500 and a promising 77% expecting more clients in the near future. Even the big players are getting in on the action, as 75% of Fortune 500 companies recognize the power of executive coaching, with a return on investment that could make any stockbroker blush. So whether you're focusing on business coaching, looking to boost your work performance, or just trying to figure out your next move in life, one thing's for sure – the coaching engagement may only last 7 months, but the impact could last a lifetime.
Consumer Behavior
- 58% of Americans say they're prioritizing self-care more since the pandemic began
- 42% of people use self-help as a way to manage stress
- 85% of self-help consumers are repeat customers
- 77% of Americans say they want to learn how to live a more self-sufficient lifestyle
- 64% of self-help consumers believe that self-help has improved their lives
- 30% of Americans have purchased a self-help book in the past year
- The average self-help consumer spends $110 per year on self-improvement products
- 78% of self-help consumers believe that personal growth is a lifelong journey
- 25% of self-help consumers purchase products to improve their relationships
Interpretation
In a world that can often feel chaotic and overwhelming, it seems that Americans are turning to self-help as their trusty sidekick in the quest for inner peace and personal growth. With over half of the population prioritizing self-care, it's clear that investing in oneself is no longer just a luxury but a necessity. From stress management to self-sufficiency aspirations, the self-help industry is thriving, with repeat customers making up the majority. With self-help books flying off the shelves and wallets opening up for self-improvement products, it's evident that personal growth is more than just a passing trend—it's a lifelong journey that many are willing to invest in, even if it means sacrificing the occasional fancy latte. So, here's to all the self-help aficionados out there—may your wallets be light and your spirits be lifted, one self-help purchase at a time. Cheers to personal growth and the occasional relationship fix along the way!
Consumer Demographics
- 18-35 year olds spend twice as much on self-improvement as those over 55
- 94% of millennials reported making personal improvement commitments
- Women make up 70% of the self-help book buying market
- The average self-help book buyer is a married woman in her mid-40s with a college degree
- 29% of self-help consumers are between the ages of 18 and 29
- Men are more likely to attend self-help seminars, while women prefer self-help books
- 35% of self-help consumers have a household income of over $100,000
- Gen Z is 3 times more likely to use self-help apps compared to Baby Boomers
Interpretation
The self-help industry: where millennials are on a mission to improve themselves, women dominate the bookshelves, men are in the seminar seats, and Gen Z is swiping right on self-help apps. Apparently, 18-35 year olds are investing in themselves (or maybe just their Instagram feeds) twice as much as the older, wiser crowd. With 94% of millennials pledging to level up, it seems like personal growth is the hip new trend – sorry avocado toast, you’ve been dethroned. So next time you see a mid-40s, college-educated, married woman reaching for a self-help book, give her a high-five – she's clearly got her priorities in perfect order.
Fitness and Wellness
- The global personal fitness trainer market size was valued at $12.9 billion in 2020
- The fitness app market is expected to reach $14.64 billion by 2027
- The global weight loss and weight management market was valued at $192.2 billion in 2019
- The global dietary supplements market size was valued at $140.3 billion in 2020
- Peloton, a fitness equipment and media company, had 5.9 million members in 2021
- The global health and wellness market is projected to reach $6.75 trillion by 2030
- 66% of Americans use at least one health or fitness app
Interpretation
In a world where the pursuit of physical perfection and eternal wellness has become a multi-billion dollar industry, it seems we are collectively sweating our way to salvation, one fitness app download and dietary supplement at a time. With more people turning to personal trainers, weight loss programs, and fancy fitness equipment, it's clear that the quest for the ideal body is big business. As Peloton racks up members faster than you can say "spin class", and the global health and wellness market skyrockets towards trillion-dollar territory, perhaps the real workout is figuring out what truly makes us feel good inside and out - beyond the glossy promises of a supplement bottle or the high-tech allure of a fitness app. So, while 66% of Americans may be tapping into the digital fitness revolution, maybe the real transformation lies in taking a step back, a deep breath, and remembering that true self-care starts from within.
Market Growth
- The self-improvement market has grown at 5.6% average yearly pace since 2015
- The self-help market in Asia-Pacific is expected to grow at a CAGR of 7.5% from 2021 to 2028
- The self-help app market is expected to reach $1.4 billion by 2025
Interpretation
With the self-improvement market growing faster than a treadmill on high speed, it seems like everyone is on a quest for personal growth and fulfillment. From the bustling streets of Asia-Pacific to the virtual realm of self-help apps, there's no shortage of people seeking to be the best versions of themselves. So, if you've ever felt like you're struggling to keep up with the self-help crowd, don't worry—there's likely a motivational quote or meditation app just a download away to help you navigate the turbulent waters of self-improvement.
Market Size
- The self-help industry was valued at $11.6 billion in 2019
- The self-help market is expected to reach $13.2 billion by 2022
- The global personal development market size is expected to reach $56.66 billion by 2027
- The US accounts for 45% of the global self-help market
Interpretation
The soaring growth of the self-help industry seems to suggest that while life may not come with an instruction manual, people are more than willing to pay for one. With a market value set to skyrocket to $56.66 billion by 2027, it appears that the quest for personal development is not just a fleeting trend but a booming industry. And of course, leave it to the US to set the trend, accounting for nearly half of the global self-help market - because when it comes to self-improvement, Americans don't just like to participate, they like to dominate.
Mindfulness and Meditation
- The global meditation market was valued at $1.2 billion in 2020
- The meditation market is expected to grow at a CAGR of 11.5% from 2021 to 2028
- Headspace, a popular meditation app, has over 65 million users in 190 countries
- 40% of US adults have tried meditation at least once
- The global yoga market was valued at $37.5 billion in 2019
- The number of people practicing yoga in the US increased by 50% between 2012 and 2020
- The Calm meditation app was valued at $2 billion in 2020
- The global mindfulness meditation apps market is expected to reach $4.2 billion by 2027
- 40% of US companies offer mindfulness training to their employees
Interpretation
With the self-help industry booming like a wellness guru on a green juice cleanse, it's no surprise that the global meditation and yoga markets are flexing their financial muscles. As more people seek inner peace amidst the chaos of everyday life, popular apps like Headspace and Calm are raking in the zen dollars faster than you can say "om." With mindfulness training becoming as common as water cooler gossip in US companies, it seems the business of finding balance is not just a luxury, but a necessity. So, grab your mat, strike a pose, and breathe in the sweet smell of success – because this industry is on a blissful journey to prosperity. Namaste, indeed.
Seminars and Workshops
- The personal development seminar market is worth $500 million annually
- Tony Robbins' seminars have been attended by over 4 million people
- The average cost of a personal development seminar is $500
- Online personal development courses have seen a 5x increase in enrollment since 2015
- The average self-help seminar has 200 attendees
- Virtual self-help workshops increased by 300% during the COVID-19 pandemic
Interpretation
The self-help industry seems to be thriving more than ever, with staggering numbers that could make even the most skeptical souls question their resolve. From the steep price tags of personal development seminars to the exponential growth in online courses, it's clear that people are willing to invest in their betterment. Whether seeking guidance from a charismatic guru like Tony Robbins or finding solace in virtual workshops during times of crisis, the pursuit of personal growth appears to be a lucrative and ever-evolving business. So, grab your wallet and your webcam, because self-improvement is booming like never before, and FOMO seems to be just another obstacle to overcome on the path to enlightenment.