Astrology Market Size is to Grow at a CAGR of 5.7% from 2022 to 2031

According to a new report published by Allied Market Research, titled, “Astrology Market,” The Astrology Market Size was valued at $12.8 billion in 2021, and is estimated to reach $22.8 billion by 2031, growing at a CAGR of 5.7% from 2022 to 2031.

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Since the beginning of time, humans have looked to the stars for guidance. Astrology has been practiced for thousands of years. While it is no longer considered the scholarly tradition that it once was, many people continue to study the influence of celestial bodies on human activity. The general public’s interest in astrology has steadily increased over the last few decades, laying the groundwork for its seemingly sudden surge in popularity today. Signs of the current astrology boom can be found all over the internet. It doesn’t take long to come across horoscope social media accounts or zodiac-themed listicles online.

People frequently turn to astrology in times of stress. In 1982, psychologist Graham Tyson conducted a small study that discovered that people who consult astrologers did so in response to stressors in their lives, particularly stress related to the individual’s social roles and relationships. Under high stress, the individual is willing to use astrology as a coping mechanism, whereas under low stress, he does not believe in it.

According to American Psychological Association survey data, millennials have been the most stressed generation since 2014, and they are also the generation most likely to say their stress has increased in the last year since 2010. Millennials and Gen Xers have been significantly more stressed than older generations since 2012. Furthermore, Americans have experienced increased stress because of the political upheaval that has occurred since the 2016 presidential election. According to the APA’s 2017 poll, 63% of Americans are extremely concerned about the future of their country. 56% of people said reading the news stressed them out, with Millennials and Gen Xers significantly more likely to say so than older people.

Political infighting, climate change, global crises, and the threat of nuclear war have recently dominated the news. As a result of rising stress, Astrology Market Demand is high which is fostering the Astrology Market Growth. However, fake astrology practices hamper the market growth. Fake astrology practices have gained popularity among fraudsters, and online astrology provides them with a large platform. Astrology bots are a common type of fraud in which messages are sent to various people based on data received. The data included personal information such as a recipient’s name, age, or hometown. The psychic appeared to have intuited this information. It was pieced together from suckers’ lists sold by data brokers and information provided unknowingly by victims in the past. As a result, high levels of fraud undermine consumer trust, impeding the Astrology Industry growth.

Many brands are using astrology as a key Astrology Industry strategy to boost their sales. For instance, Colourpop collaborated with beauty influencer…