The yoga studio industry is growing rapidly, with more and more people taking up yoga daily. As a yoga studio owner, it’s essential to understand the industry’s current state, as well as statistics, trends, and predictions that will affect your business.
This article will look at some of the most crucial yoga studio industry statistics, market trends, and future outlook.
Current Statistics on the Yoga Studio Industry
First, let’s look at the current state of the yoga studio industry.
Market Statistics, Trends, and Growth
- The yoga studio industry is currently worth $27 billion.
- The yoga studio market has seen a compound annual growth rate (CAGR) of 3.5% over the past five years.
- There are currently around 36,000 yoga studios in the United States, with an estimated 1,700 new studios opening each year.
- The yoga studio industry makes up about 0.2% of the total health and fitness industry.
Revenue And Profit Statistics
- The average yoga studio generates $36,000 in revenue per month.
- Yoga studio owners have an average revenue of $1 million annually.
- The average yoga studio profit margin is around 20%.
- The average yoga class costs $15.
- The average yoga teacher makes $30 per hour.
- There are currently around 200,000 yoga instructors in the United States.
- The yoga studio industry currently employs around 2.5 million people.
- Out of these 2.5 million employees, around 1.5 million are yoga instructors.
- Other job titles in the yoga studio industry include yoga teacher, yoga therapist, yoga studio manager, yoga studio owner, and receptionist.
Other Yoga Studio Industry Statistics
- Yoga is most popular with people aged 18-44.
- Women make up the majority of yoga practitioners, with around 82% of yoga students being female.
- Around 20% of yoga practitioners are men.
- The yoga studio industry is most popular in the states of California, New York, and Florida.
- More yoga classes are being taught online due to the COVID-19 pandemic.
Future Outlook for the Yoga Studio Industry
Now, let’s look at the future of the yoga studio industry.
- The yoga studio industry is expected to add another 1 million jobs by 2020.
- The yoga studio industry is expected to grow at a compound annual growth rate (CAGR) of 5% between 2020 and 2025.
- By 2025, the yoga studio industry is expected to be worth $32 billion.
- The yoga studio industry is expected to grow faster in the United States than any other country.
- Yoga is expected to become more popular with older adults as baby boomers age.
- Yoga is also expected to become more popular with men as the stigma around yoga decreases.
- Yoga studios will continue to offer online classes as the popularity of yoga increases.
- The most common challenges the industry will face are attracting new students and retaining existing students.
- To remain competitive, yoga studios must offer unique yoga classes and packages.
Next Steps as a Yoga Studio Owner
These are just a few of the yoga studio industry statistics, market trends, and predictions you should know. As a yoga studio owner, it’s important to stay up-to-date on the latest industry news to make informed decisions about your business. You can set your yoga studio up for success with the proper knowledge.