The self-improvement market has long been a thriving industry, but like many others, it suffered a blow during the COVID-19 pandemic. However, recent reports indicate that the self-improvement market is making a strong recovery, with the industry projected to be worth $13.4 billion in the U.S. alone.
The pandemic brought about unprecedented challenges for individuals around the world, leading to widespread feelings of stress, anxiety, and uncertainty. As a result, many turned to self-improvement practices and resources to help cope with the effects of the pandemic and improve their overall well-being. From mental health resources to virtual fitness classes, the demand for self-improvement products and services surged during this difficult time.
As the world begins to emerge from the pandemic, the self-improvement market is experiencing a resurgence. The renewed focus on mental health and well-being has contributed to the market’s recovery, as individuals continue to seek out ways to enhance their personal and professional lives.
One sector of the self-improvement market that has seen significant growth is the personal development industry. With people looking for ways to improve their skills, enhance their career prospects, and grow as individuals, there has been a surge in demand for personal development books, online courses, and coaching programs.
Additionally, the wellness industry has also seen a boom in sales, as individuals prioritize their physical and mental health now more than ever. From meditation apps to at-home workout equipment, consumers are investing in products and services that promote overall wellness and self-care.
Moreover, the demand for self-improvement resources in the workplace has also increased, with companies investing in leadership development programs, employee wellness initiatives, and diversity and inclusion training. As organizations strive to create a supportive and inclusive work environment, the self-improvement market has become an essential resource for professional growth and development.
The burgeoning market for self-improvement has also led to an increase in innovative products and services. From virtual therapy platforms to AI-powered self-improvement apps, technology has played a significant role in meeting the evolving needs of consumers in the post-pandemic era.
As the self-improvement market continues to expand, it is clear that the pandemic has led to a fundamental shift in the way individuals and organizations prioritize personal and professional development. With a renewed focus on mental health, wellness, and personal growth, the self-improvement market is poised for sustained growth in the coming years. As the industry continues to evolve, it is expected to remain a pivotal resource for individuals and businesses seeking to enhance their overall well-being and success.
The self-improvement market in the United States is robust, and has recovered from the pandemic. The market’s value is estimated to have declined just 7.4% during 2020, then recovered to a 12.2 % gain in 2021 and another 11.6 % gain in 2022.
Self-improvement is big business, as Americans constantly seek out services to improve their lives — spiritually, financially, and for health reasons. The market is primarily female, but men are getting more involved.
Nearly all segments of the market improved in 2022, with especially strong growth
posted in the personal coaching, books, and audiobooks market segments. There was a shift to virtual delivery of services and more focus on male clients and Millennials.
Top Things to Know About the Self-Improvement Industry
Self-improvement market size: Marketdata estimates that the self-improvement market in the U.S. was worth $13.4 billion in 2022. The market bounced back about 24% in two years, fueled by growth in personal coaching services, self-help books and audiobooks, and self-help apps.
Self-improvement apps: This market is exploding and is estimated by Marketdata to be worth at least $762 million in the United States in 2022, projected to grow to nearly $1 billion by 2027. Meditation apps such as Headspace and Calm have built large followings, and the Noom weight loss app takes in more than $400 million a year.
Personal coaching: This market was worth $2.08 billion in 2022 — up a very strong 77% from 2020 levels. Americans, especially Millennials, embraced coaching more widely, and the number of coaches grew.
Self-help books: As Americans hunkered down at home during the pandemic, print book sales in the United States in 2020 had their best year since 2010. Self-help book sales in the U.S. increased by 13% in 2019, with over 40 million units sold and personal transformation, relationships, and motivational books being the top-selling categories.
Audiobooks: The self-improvement audiobooks market benefited from the boom in print book sales in 2020, as homebound consumers turned to them for safe recreation. Following strong gains in 2020, 2021 should have also been one of growth for self-improvement audio. We estimate a 12% gain in sales, to $606 million. Marketdata analysts think that sales grew 10% more in 2022, to a value of $667 million.
Holistic institutes: These 15 facilities were devastated by the pandemic. Revenues plummeted from $135 million in 2019 to just $54 million in 2020, rising moderately in 2022. One facility went out of business.
Motivational speakers: The United States professional speaking “industry” in 2023 is worth about $1.77 billion. For an elite group of 17 top motivational speakers, 2022 revenues are estimated at $368 million.
Training organizations: Firms such as Dale Carnegie Training, Sandler Training, Franklin-Covey, and Toastmasters, catering to businesses, had sales of $687 million in 2022.
Learn More Self-Help Industry Statistics
For more information, be sure to read Marketdata’s comprehensive new report The Market for Self-Improvement Products & Services, which covers motivational speaking; personal coaching; infomercials; self-improvement books and new age bookstores; self-help audiobooks; holistic institutes and training organizations; public seminars; self-improvement websites, apps, and online courses; and the weight loss market.
About the Author: John LaRosa is the President of Marketdata LLC and is the author of 100+ industry and market studies. His research appears in top media outlets including ABC, CNN, Fox, Forbes, USA Today, The Wall Street Journal, The New York Times, and a variety of trade journals.