Personal development market is anticipated to grow at a significant CAGR of 13.7% during the forecast period (2024-2031). The market growth is attributed to pivotal factors such as the strong desire of individuals to learn new skills for self-actualization, and personal growth. Additionally, people focus on developing social skills, self-awareness, character traits, values, behavior, attitude, and decision-making driving the market growth.  According to DreamMaker, in April 2022, 86.0% of professionals think that having access to personal development is an essential consideration in their decision to remain with a firm. A personal development program is offered by 42.0% of businesses.

Market Dynamics

Increasing Demand for Digital Detox and Mindfulness

In a modern technologically saturated society, the demand for mindfulness exercises and digital detoxification is greater than ever. Enthusiasts of personal growth understand the value of disconnecting, even for brief intervals, to reacquaint oneself with one's inner self. Deep breathing exercises, mindfulness practices, and meditation are increasingly common methods to lower stress, sharpen attention, and develop inner calm. Developing coping mechanisms and resilience is a key component of this movement. An increasing number of people are looking for methods to increase their emotional and psychological resilience in both daily life and professional development courses.

Growing Adoption of Remote Learning and Online Courses

Opportunities for personal growth have increased owing to the growth of online learning environments and remote jobs. A growing number of people are using webinars and online courses to achieve their personal passion pursuits by learning new skills. This movement has democratized education and opened up self-improvement to a larger group of people. A major focus of learner-centered online training is on real-world application. Professionals need to be able to apply what they've learned in practical settings. Learner-centered online training promotes introspection and provides staff members with lots of chances to assess their development.

Market Segmentation

• Based on the instrument, the market is segmented into Books, e-platforms, and personal coaching/training.

• Based on the focus area, the market is segmented into mental health, motivation & inspiration, and physical health.

Personal Coaching/Training is Projected to Hold the Largest Segment

The primary factors supporting the growth include increasing demand for individualized guidance and the emphasis on performance improvement and skill enhancement. Personal coaching's market domination has been furthered by the accessibility and convenience provided by virtual platforms and online coaching programs. Additionally, the development of digital technology has completely changed the field of personal development by making it possible for people to access self-improvement courses and other personal development resources regardless of where they live. It is anticipated that the accessibility offered by digital platforms will play a significant role in the further expansion of this segment.

Mental Health Segment to Hold a Considerable Market Share

The factors supporting segment growth include the adoption of mental health apps as their advantages in enhancing lifestyle and treatment outcomes, as well as raising awareness of mental health as a serious medical disease. Additionally, these apps encourage wellbeing, which increases people's productivity—especially for working professionals. Adopting mental health apps is part of a shift away from traditional care techniques and toward patient-centric, individualized care support. Applications for managing stress, sadness, and anxiety, as well as mindfulness, help preserve a person's general health and encourage a healthier way of life.

Regional Outlook

The global personal development market is further segmented based on geography including North America (the US, and Canada), Europe (the UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia-Pacific), and the Rest of the World (the Middle East & Africa, and Latin America). 

Growing Demand for Personal Development in Asia-Pacific

• The regional growth is attributed to the increasing number of people favoring mobile application-based e-platforms to improve their professional skills and land better job possibilities. Furthermore, it is anticipated that the ongoing release of new applications that support healthy eating, weight loss, and general fitness will accelerate the market's expansion. 

Global Personal Development Market Growth by Region 2024-2031

North America Holds Major Market Share

The regional market share is attributed to the advanced technological infrastructure, early digital platform adoption, and a robust self-improvement culture. The region's strong infrastructure, which includes widely available electronics and high-speed internet, makes it easy to access resources for personal development. North America's dominance is also attributed to the existence of well-established industry players and a growing market for personal development services. Market domination is further fueled by the region's economic prosperity and people's propensity to spend money on self-improvement initiatives. For instance, in March 2024, the Department of Commerce’s National Telecommunications and Information Administration (NTIA) announced the availability and individual state allocations of approximately $811.0 million in funding to states, territories, and native entities to empower individuals and communities with the tools, skills, and opportunities to benefit from meaningful access to high-speed Internet service.

Market Players Outlook

*Note: Major Players Sorted in No Particular Order.

The major companies serving the personal development market include Dale Carnegie & Associates, Inc., Graceland College Center for Professional Development and Lifelong Learning, Inc. (SkillPath), Success Resources Australia Pty Ltd., Landmark Worldwide Enterprises, Inc., and Wilson Learning Worldwide Inc. among others. The market players are increasingly focusing on business expansion and product development by applying strategies such as collaborations, mergers, and acquisitions to stay competitive in the market. 

The Report Covers

• Market value data analysis of 2023 and forecast to 2031.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the personal development market. Based on the availability of data, information related to new products, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.