It was Prime Minister Narendra Modi who proposed celebrating yoga during his speech at the United Nations General Assembly in 2014, soon after receiving a historic mandate to form the government. As approved by the United Nations, since 2015 June 21 is celebrated as International Day of Yoga. While yoga has always been India’s own way of fitness, it was PM Modi who made it mainstream and spread wide awareness across the world.
PM Modi Also set up the Ministry of Ayurveda, Yoga and Naturopathy, Unani, Siddha and Homeopathy (AYUSH), which has given a much needed boost to the entire industry. As a result, the global yoga market is now expected to reach $66.2 billion by 2027. MILF growing up on a CAGR of 9.6%According to Allied Market Research.
Due to the many health benefits of yoga, there has been an increase in the number of people practicing it all over the world. Yoga can help with a variety of conditions, including insomnia, high blood pressure, gastrointestinal problems, diabetes, anxiety, depression, psychosis and sleep disturbances.
In addition, yoga promotes blood pressure management, aids in disease prevention, stabilizes hormonal fluctuations, regulates blood sugar, and aids in the balance of body fluids. The extensive health benefits of yoga are anticipated to propel the industry further in the years to come.
In 2019, the Yoga market was valued at $37,462.5 million and is expected to grow to $66,226.4 million by 2027, with a CAGR of 9.6% from 2021 to 2027. Although North America holds the largest share of the yoga market, Asia-Pacific region is expected to grow at the fastest CAGR over the forecast period.
Yoga has become a great source of wellbeing in the COVID-19 pandemic. Since walking outside was restricted, many people started practicing yoga to stay fit. The Narendra Modi-led government continued to promote yoga and its benefits even during the pandemic.
On International Yoga Day, when the country was battling the first wave of the coronavirus, Prime Minister Narendra Modi said yoga was even more important during the pandemic as certain yoga “asanas” and practices can benefit people suffering from various respiratory disorders. .
This year the theme of International Yoga Day is ‘Yoga at Home, Yoga with Family’. Today we will stay away from all social gatherings and do yoga with our family. When family members come together to practice yoga, it spreads energy throughout the house,” said PM Modi in 2020.
Yoga classes have reopened after the lockdown was lifted in most places. The demand for offline courses has increased once again, and the offline category is expected to continue to dominate the entire projected period. According to Allied Market Research, the online yoga courses category is projected to grow at an annual rate of 12.3% from 2021 to 2027.