U.S. Life Coaching Market Size, Share & Trends Analysis Report By Coaching Method (Virtual, In-person), And Segment Forecasts, 2023 - 2030

Report Overview

The U.S. life coaching market size was valued at USD 1,469.1 million in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 4.85% from 2023 to 2030. Life coaches are witnessing high demand from individuals and corporate employees to improve their interpersonal skills, work-life balance, and wellness. An increase in awareness about the benefits of life coaching, growing workforce demands, and the introduction of online and e-learning courses are contributing to the growth of the industry.

Life coaching is one of the fastest-growing industries in the U.S. As per the International Coaching Federation (ICF), more than 26,000 professional coaches were working in North America in 2020. The need for coaches is on the rise in the United States as more people seek guidance and inspiration on a variety of topics, including personal development, finding a work-life balance, work performance, relationships, mental health, and other topics.

High level of satisfaction and trust in life coaches have increased their demand. A recent ICF survey found that 43% of people have used a coach in the past and 22% of those who have never used a coach say they are likely to use life coaching in the future. Increasing stress at the workplace and hectic lifestyle have largely driven demand among urbanites and millennials. Furthermore, many corporates include self-development coaching in their wellness programs to help their employees. Corporate organizations also witness high ROIs by providing such services to their employees.

Many people are choosing life coaches as a career option owing to the attractive compensation, job flexibility, and high career satisfaction. Becoming a life coach is not a hard task with no real barrier or regulation to market entry. With technological advancement, people can now connect for a session online through audio or video chats. Easy and anytime access and personalized sessions remain favorable factors driving the demand.

The COVID-19 pandemic negatively impacted the coaching industry. This was mainly due to a decrease in the number of clients and working hours. Furthermore, many corporate temporarily stopped investing in corporate wellness programs due to the financial crisis. According to the 2021 ICF survey, 43% of the coach practitioners said that their client numbers fell since March 2020. Owing to strict regulations and social distancing, many coaches shifted to online audio or video platforms from in-person sessions.

Coaching Method Insights

Based on the coaching method, the U.S. life coaching market is segmented into virtual and in-person. The virtual segment held the leading revenue share of 53.2% in 2022. The segment is anticipated to witness remarkable growth during the forecast period. Growth of the segment can be attributed to the increased adoption of technology, the rapid shift towards the virtual platform, and easy access.

The COVID-19 pandemic played a vital role in segment growth as many practitioners started online programs. As per the International Coaching Federation, 74% of coaching practitioners have increased the use of audio or video platforms. Furthermore, 55% of the coach practitioners say that the in-person method will not return to the pre-pandemic level.

The in-person segment is anticipated to grow as many clients prefer conventional face-to-face interaction. Many clients, especially people from the older generation are hesitant to share personal information on virtual platforms. In-person sessions build a level of trust and relationship and make it easier for people to understand each other. However, the share of the in-person segment has declined due to the COVID-19 pandemic.

Key Companies & Market Share Insights

The U.S. life coaching market is highly fragmented with the presence of various solo, medium, and large players. As the market is not regulated and does not require any specific qualifications, many solo players are entering the market by completing courses on life coaching skills. Medium and large organizations are largely consultancy firms that partner with corporates to provide coaching services. They have a group of life coaches and charge annual membership fees to their clients.Some prominent players in the U.S. life coaching market include:

• Endless Possibilities Life Coaching Services

• Strategic Life Coaching

• Pacific Life Coaching

• Sunny Life Coach

• Benchmark Consulting

• BP Life Coaching Services, LLC

• Solution Life Coaching Services

• Thriveworks Counselling

U.S. Life Coaching Market Report Scope

U.S. Life Coaching Market Segmentation

This report forecasts revenue growth at country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the U.S. life coaching market report based on coaching method:

• Coaching Method Outlook (Revenue, USD Million, 2017 - 2030)

  • In-person

  • Virtual