Despite economic hardships in the country, the yoga business in growing in the US, according to a new market study from top US yoga magazine Yoga Journal.
Nearly 21 million Americans are practicing yoga, according to a new study from yoga magazine 'Yoga Journal.' ©George Dolgikh/Shutterstock.com
Released on Wednesday, the study finds that 20.4 million Americans practice yoga, compared to 15.8 million in the previous 2008 study -- a 29 percent increase. Also, yoga practitioners are shelling out more cash for yoga, spending $10.3 billion a year on yoga classes, clothing, retreats, DVDs, and yoga gear. In 2008, estimated spending was $5.7 billion.
Data, which was collected by Sports Marketing Surveys USA, also found that 82.2 percent of yoga practitioners are women, with only 17.8 being male, and most fall within the ages of 18 to 44.
In terms of length of practice, 38.4 percent have practiced yoga for one year or less, 28.9 percent have practiced for one to three years, and 32.7 percent have practiced for three years or longer. Also, nearly 45 percent consider themselves beginners, while nearly 40 percent said they were intermediate and nearly 16 percent saying they were expert or advanced.
Top five reasons for doing yoga? Flexibility, general conditioning, stress relief, to improve overall health, and physical fitness, according to the study.
A recent Virgin Money survey in the UK says that 75 percent of British women opt for yoga, meditation and other holistic therapies such as reflexology, shiatsu, and massage. This spiritual spending is not cheap, tallying up to £670m ($1.08 billion) annually, with another £20m ($32 m) spent on spa retreats and yoga holidays.
Also in October, industry research firm IBISWorld announced that Pilates and yoga studios in the US have experienced "robust growth" over the past five years, with revenue estimated to grow at an average annual rate of 7.7 percent to $6.9 billion.
