The market for corporate wellness – from yoga and stress management through
to gym memberships – is set to soar, new research shows
A
s most yoga teachers already know, the corporate
market can be a useful little niche adding extra
income on top of regular classes, workshops and
retreats. Except it’s not that niche anymore.
According to a new report by Grand View
Research, Inc. the global corporate wellness market size is
expected to be worth a staggering $84.9 billion by 2025, growing
at an average 6.8% per year.
It says that rising demand for wellness activities is driven, in
part, due to increased insurance costs that result in financial
burden on employers.
Key initiatives will target particular health risk factors such
as stress, obesity, smoking, diet and general lack of exercise –
and yoga can play a key role.
“[The] stress management segment is likely to witness theCorporate wellness
fastest growth rate over the forecast period (from 2018 to 2025),
owing to rising preference for on-site yoga and meditation
services,” the study points out.
Health and wellness pays, it seems – and businesses are
starting to take notice.
According to a further study conducted by Harvard economists,
absenteeism costs fall by $2.73 for every dollar spent on wellness
programmes. It means companies are increasingly willing to
encourage – and pay for – employees to adopt a healthier
lifestyle to improve their productivity.
While North America is the dominant market in terms of
revenue share, other regions – including the UK – are following a
similar trajectory.
The message for all you yoga teachers out there: get your
business ready for the corporate market.om beginnings om beginnings