Many people have asked if there's room for another online yoga business. It is important to note that the demand for yoga continues to grow. According to a survey conducted by the Yoga Alliance and Yoga Journal, the number of people practicing yoga in the United States has increased by 50% in the past four years. In addition, the study found that the number of people who say they are very or extremely likely to try yoga in the future has also increased.
Starting an online yoga business is the dream for any yoga lover. If you understand what it takes to build an effective online yoga business, you can work in your passion of yoga while building a sustainable income and helping others in their pursuit of wellness. According to Research and Markets, the global market for yoga-related products and services was valued at $80 billion in 2019, and is expected to continue to grow in the coming years. In the U.S. alone, Yoga Journal reports that the amount of money spent on yoga was estimated to be $16 billion in 2016, and yoga has become much more popular since that time so we can only imagine what today's numbers look like.
Overall, the amount of money spent on yoga annually is significant, and the industry is continuing to grow. As more people become interested in yoga, there are opportunities for businesses to provide a range of products and services to meet their needs. However, it is important to note that the yoga industry, like any other industry, is subject to economic fluctuations and other challenges which is why it's recommended to work with a coach when starting your first online yoga business.
The popularity of yoga and the demand for related courses and services suggest that it will continue to be a significant industry in the years to come , so you're in the right place at the right time!