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Self-Improvement Products and Services Market Report 2024-2033: Size, Share, Growth, Trends, Analysis, Demand, Forecast, Outlook
The new report published by The Business Research Company, titled ""Self-Improvement Products And Services Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033"", delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.As per the report, the self-improvement products and services market size has grown strongly in recent years. It will grow from $54.52 billion in 2023 to $59.22 billion in 2024 at a compound annual growth rate (CAGR) of 8.6%. The self-improvement products and services market size is expected to see strong growth in the next few years. It will grow to $83.58 billion in 2028 at a compound annual growth rate (CAGR) of 9.0%.
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The Impact Of Rising Stress Levels On The Self-Improvement Products And Services Market
The rising stress levels are expected to drive the self-improvement products and services market going forward. Stress level refers to the degree of psychological and physiological tension experienced by an individual in response to internal or external pressures, often assessed on a continuum ranging from mild to severe. Rising stress levels can be attributed to heightened work demands, an increasing prevalence of racism, financial worries, feelings of social detachment, and ambiguity regarding what lies ahead. Self-improvement products and services aid in decreasing rising stress levels by offering tools for mindfulness, resilience building, and personal development, fostering a sense of empowerment and control. For instance, in November 2023, according to a report published by the American Psychological Association (APA), a US-based scientific and professional organization, 81% of older black adults found the U.S. racial climate stressful in 2022. By 2023, discrimination was a major stressor for 43% of black adults and 40% of Latino/a/e adults, more so than for Asian (31%) and white adults (19%). Additionally, inflation stressed 83% of U.S. adults, with most also citing the economy (69%) and money (66%) as significant stressors. Therefore, rising stress levels are driving the growth of the self-improvement products and services market.
Technological Advancements In Self-Improvement Products And Services Market
Major companies operating in the self-improvement products and services market are increasing their focus on developing advanced solutions, such as work wellness apps, to gain a competitive edge in the market. A work wellness app is a digital platform designed to promote and support employee well-being through various features such as fitness tracking, mental health resources, and stress management tools. For instance, in August 2021, Fabulous, a France-based digital health and wellness company, launched Fabulous For Work, a self-care app that offers a comprehensive suite of features, including emotional, physical, focus, personal growth, motivation, inclusion metrics, customizable programs, anxiety reduction, screen breaks, exercise prompts, and healthy eating programs. Leveraging years of research, the app incorporates advanced algorithms and methods inspired by elite athletes and successful entrepreneurs to provide personalized support, addressing the rising issue of employee burnout with proactive solutions tailored to individual and organizational needs, thus marking a significant advancement in the self-improvement products and services market.
The self-improvement products and services market covered in this report is segmented -
1) By Type: Products, Services
2) By Focus Area: Physical Health, Mental Health, Motivation And Inspiration, Self-Awareness, Skillset Enhancement
3) By Application: Individuals, Enterprises, Other Applications
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Major companies operating in the self-improvement products and services market report are BetterHelp, Weight Watchers, Dale Carnegie & Associates Inc., NutriSystem Inc., Udemy Inc., Coursera Inc., Duolingo, Calm, Noom Inc., Franklin Covey Co., Headspace Inc., Codecademy, Hay House Publishing, Mindvalley Inc., Landmark Worldwide, Gaia, Sandler Training, Insight Timer, Khan Academy Inc., The Chopra Center, Fred Pryor/Career-Track, Toastmasters International, SkillPath, Esalen Institute, Elevate Labs, Happify, Lumos Labs Inc.
Contents of the report:
1. Executive Summary
2. Self-Improvement Products And Services Market Report Structure
3. Self-Improvement Products And Services Market Trends And Strategies
4. Self-Improvement Products And Services Market - Macro Economic Scenario
5. Self-Improvement Products And Services Market Size And Growth
…..
27. Self-Improvement Products And Services Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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