Yoga, Pilates Among Fastest Growing U.S. Industries
If there’s one thing to learn from a new report from IBISWorld, it’s that Americans like their yoga and Pilates. And self-tanning products. Oh, and hot sauce, too.
The market-research organization, which compiled a list of the 10 fastest growing industries in the U.S., reports that the yoga and Pilates studios industry grew an average of 12.1 percent between 2002 and 2012 and is projected to expand further in 2012 by over 5 percent. “Pilates and yoga studios were highly resistant to the recession,” the report continues. “Instead of facing negative growth in 2008 and 2009, revenue merely slowed. In the five years to 2017, industry revenue is expected to grow at an average annual rate of 4.8%.”
Self-tanning (spray tans, bronzing lotions and the like) also saw a bump, due in part, the report says, to increased consumer awareness about the harmful effects of UV light. The industry has enjoyed an annual revenue growth of nearly 23 percent since 2002.
Here’s what I love about this list, though: The other seemingly recession-proof industries are so very, very random. They include 3D printer manufacturing, online eyeglasses and contact lens sales, and even hot sauce production.
Read the full report here [PDF].