The life coaching market is a $1.4 billion industry in the United States. There are nearly 23,000 life coach businesses and over 70,000 professional life coaches worldwide. The global life coaching industry is expected to reach $2.4 billion in 2022, with an annual growth rate of 19%. In North America, the life coaching market size is expected to be $1.34 billion by 2022. The estimated global market value from coaching will be $15.2 billion in 2023, up from $2.849 billion in 2019.
The U.S. life coaching market size was $1.6 billion in 2022. Demand for personal development coaches is higher among millennials and people in cities. 81.9% of millennials were aware of coaching. The general ROI for executive coaching is 500-700%. The percentage of male life coaches is likely lower than female life coaches. Life coaches typically charge $100-$200 per hour. The average income is $61,000 per year. A study found a 70% average success rate for life coaching.
Coaching is the second fastest growing industry worldwide. 94% of millennials have said that they would be willing to invest monthly on self-improvement.
According to the International Coaching Federation, there are approximately 52,905 life coaches based in 168 countries worldwide as of October 2022. In North America, there are 23,300 coaching professionals. Coaches’ total revenue in the United States increased 36% between 2015 and 2019. 20 to 30-year-olds were most likely to be employed as life coaches, representing 32% of those surveyed.
The coaching industry also ranks 458th in market size in the United States. There are 5 reasons for life coaching industry growth:
- Awareness about life coaching
- Corporate sponsorship
- Growing demand for coaching services
- Rapid pace growth
- Best time to be a life coach
Life coaching is a fast-growing $2 billion global industry, with an estimated 71,000 coaches worldwide. Demand is being driven by factors like increasing pace and complexity of modern life, growing awareness of mental health, and need for guidance in achieving life goals.
Target Clients:
- Higher income households
- 25-34 year olds seeking to optimize individual or team performance
Specializations:
- Health
- Fitness
- Wellness
The median U.S. salary for coaches is $57,040 annually. Over 70% of clients report improvements in confidence, relationships and work-life balance after engaging a coach. As life’s demands rise, so too will the need for supportive guidance from qualified life coaches.