As per the analysis conducted by Fact. MR, the global mindfulness meditation apps market is anticipated to procure a market value of USD 180 Mn through 2032. The increasing cases of depression, mood disorders, and anxiety is expected to be the prime reason that can be attributed to the popularity of the mindfulness mediation apps.
These apps have also received popularity amongst school and college students since it helps them to develop peace and enhance concentration. Furthermore, the outbreak of COVID-19 has further propelled the demand for such apps.
According to the analysis at Fact MR, the demand for mindfulness mediation apps has increased by 8% from 2017 to 2021. Today’s youth is more inclined towards an unhealthy lifestyle, which brings a negative impact on the individual. In order to address these negativities, the youth is opting for mindful practices.
Key Takeaways from the Market Study
- By type, preference for free mindfulness meditation apps to heighten, accounting for 40% revenue share
- Simultaneously, paid mindfulness meditation apps demand likely to surge at nearly 8% CAGR
- Increasing anxiety levels bolstering usage across the U.S, registering over 5% CAGR through 2031
- India is likely to observe an upsurge of around 7% CAGR, due to the dominance of yoga in the region
“Increased work stress, peer pressure, and personal relationship problems has encouraged today’s youth to opt for mindful practices,” says an analyst at Fact.MR.
How is Stress and Depression Boosting Demand for Mindfulness Meditation Apps?
As per American Psychological Association, today’s youth are the most stressed age group in 21st century. Millennial are reaching technology and smartphones to relax their minds. Therefore, the global market has experienced a significant boost in the download of such mindful apps. Further, the increasing desire to obtain a healthy lifestyle owing to the enhanced exposure to social media has also made a remarkable impact on the youth.
The World Health Organization reveals that nearly 246 million people across the world suffer from depression. Anxiety, bipolar disorder, and other mental health related issues are the most common problems faced by today’s generation.