Yoga mat market size is set to grow by USD 2,937.23 million from 2022 to 2027. Product premiumization owing to more innovation in yoga accessories to boost the market

NEW YORK, June 2, 2023 /PRNewswire/ -- The global yoga mat market size is estimated to grow by USD 2,937.23 million from 2022 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 5.84%. North America accounted for the highest market share of the global market in 2022 and is estimated to witness an incremental growth of 33% during the forecast period. The steady growth of the yoga mat market in North America can be attributed to the increasing adoption of healthy lifestyles by people in the region. The US is the most lucrative market for yoga mats in the region, primarily driven by the increasing number of fitness centers and health clubs. Canada and Mexico are other significant markets for yoga mats in the region. Yoga is widely practiced across most of the region, which is expected to support the market growth in the region during the forecast period. For more insights on the historic period (2017 to 2021), and forecast market size (2023 to 2027) - Request a sample report.

What's New?

Special coverage on the Russia-Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession

Global competitiveness and key competitor positions

Market presence across multiple geographical footprints - Strong/Active/Niche/Trivial - buy the report!

Yoga mat market - Segmentation assessmentSegment overviewTechnavio has segmented the market based on distribution channel (offline and online), end-user (personal and health clubs), and geography (North America, Europe, APAC, South America, and Middle East and Africa).

The market share growth of the offline segment, which includes pharmacies, mono-brand stores, department stores, hypermarkets, supermarkets, and specialty stores, is expected to be significant during the forecast period. Mono-brand stores are retail establishments with a single brand offering. These independent retailers offer a wide range of goods under the same brand. They draw many customers due to their upscale appearance. Hence, the distribution of yoga mats is growing through these stores. Furthermore, yoga mats are available in a wide variety of selections through specialty stores. As a result, the number of specialty stores has been steadily increasing over the past decade. The sales growth in the global market is highly dependent on these retail formats. As a result, retail establishments are using in-house shopping coaches and hosting proactive workshops to connect customers with shared interests or recommend the right products. Hence, these such factors will boost the market segment growth during the forecast period.

To get insights on the market contribution of various segments including country and region wise historic data (2017 to 2021), and forecast market size (2023 to 2027) - Download a sample Report

Yoga mat market – Market dynamicsKey drivers – Product premiumization owing to increasing innovation in yoga accessories is notably driving the market growth. Innovation is critical to the global market as it helps differentiate offerings and improves consumer performance. Several manufacturers have begun offering unique yoga accessories such as mats in various colors, patterns, and styles. Besides, they are offering yoga mats made of natural jute and rubber. For instance, Lululemon Athletica Inc. sells Reversible Mat. It is a natural mat that contains an antibacterial ingredient to keep mounds and mildew away. Benefits such as higher quality and longevity are prompting customers to pay more for premium products. For instance, Sequential Brands Group Inc. offers an 8mm-thick Performance Premium-Grip Yoga Mat under the GAIAM brand. This nonslip mat, made of natural rubber, features an internal stabilizing core, providing comfort and convenience to customers. Hence, the advent of innovative and premium products may boost vendors' profit margins and help achieve a competitive advantage in the market. These factors will boost the market growth during the projection period.

Leading trends – The increasing availability of custom yoga mats is an emerging trend in the market. Customized yoga mats are increasingly gaining popularity in the global market. Factors such as yoga mat personalization and customization have emerged as key purchase-decision determinants. These variables are driven by factors such as technology, supply chain transformation, and organizational restructuring. Now, yoga mat manufacturers have the ability to produce and supply products based on customer measurements and specifications. For instance, ANYMATIC LLC offers personalized mats, namely customized standard yoga mats, travel yoga mats, and children's yoga mats. Several market vendors are expected to offer customized yoga mats based on consumer preferences, which, in turn, is estimated to drive the global market growth during the forecast period.

Major challenges – The rising popularity of outdoor sports activities is posing a major challenge for market growth. People are increasingly embracing different sports and including them in their daily routine in line with the growing society's tendency toward leading active, healthy lifestyles. For instance, the proportion of people who bicycled increased from 7% in 2021 to almost 8% in 2022. Similarly, between 2021 and 2022, triathlon participation escalated by about 13% worldwide. The increasing preference for regular outdoor physical activity can be attributed to many positive health effects, including reduced discomfort of arthritis, accelerated weight loss, lowered blood pressure, and decreased risk of diabetes, certain cancers, osteoporosis, and cardiovascular diseases. Additionally, sports and outdoor physical activity enable people to socialize and meet people with similar interests. As a result of these many benefits of outdoor exercise, there may be a decline in the number of people choosing yoga to enhance their health. Hence, these factors are expected to lower the demand for yoga mats and, in turn, negatively impact the global market during the forecast period.

For insights on market drivers, trends, and challenges, historic period (2017 to 2021), and forecast period (2023 to 2027)-Request a sample report!

What are the key data covered in this yoga mat market report?

CAGR of the market during the forecast period

Detailed information on factors that will drive the growth of the yoga mat market between 2023 and 2027

Precise estimation of the size of the yoga mat market and its contribution to the parent market

Accurate predictions about upcoming trends and changes in consumer behavior

Growth of the yoga mat market across North America, Europe, APAC, South America, and Middle East and Africa

Thorough analysis of the market's competitive landscape and detailed information about vendors

Comprehensive analysis of factors that will challenge the growth of yoga mat market vendors

Gain instant access to 17,000+ market research reports.

Technavio's SUBSCRIPTION platform

Related reports:

The smart yoga mat market size is expected to increase by USD 164.18 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 6.43%. This report extensively covers segmentation by distribution channel (offline and online) and geography (North America, Europe, APAC, South America, and Middle East and Africa).

The yoga accessories market size is estimated to increase by USD 6,159.41 million from 2022 to 2027, and the market's growth momentum will accelerate at a CAGR of 6.9%. This report extensively covers segmentation by product (yoga mats, yoga straps, yoga blocks, and others), distribution channel (offline and online), and geography (North America, Europe, APAC, South America, and the Middle East and Africa).

Yoga mat market scope

Report Coverage

Details

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 5.84%

Market growth 2022-2027

USD 2,937.23 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

4.67

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

North America at 33%

Key countries

US, China, India, UK, and Germany

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

Adidas AG, Barefoot Yoga Co., Body Solid Inc., Decathlon SA, Hugger Mugger Yoga Products LLC Inc., JadeYoga, La Vie Boheme Yoga, Liforme Ltd., lululemon athletica Inc., Manduka LLC, Merrithew International Inc., New Balance Athletics Inc., Nike Inc., NoCoast Beer Co., OPTP, Second Earth Pty Ltd., Trimax Sports Inc., Yoga Direct LLC, Yogamatters Ltd., and YogiKuti Pvt. Ltd.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Browse for Technavio Industrials market reports and unlock the potential of your business

Table of contents -

1 Executive Summary

1.1 Market overview

2 Market Landscape

2.1 Market ecosystem

3 Market Sizing

3.1 Market definition

3.2 Market segment analysis

3.3 Market size 2022

3.4 Market outlook: Forecast for 2022-2027

4 Historic Market Size

4.1 Global yoga mat market 2017 - 2021

4.2 Distribution Channel Segment Analysis 2017 - 2021

4.3 End-user Segment Analysis 2017 - 2021

4.4 Geography Segment Analysis 2017 - 2021

4.5 Country Segment Analysis 2017 - 2021

5 Five Forces Analysis

5.1 Five forces summary

5.2 Bargaining power of buyers

5.3 Bargaining power of suppliers

5.4 Threat of new entrants

5.5 Threat of substitutes

5.6 Threat of rivalry

5.7 Market condition

6 Market Segmentation by Distribution Channel

6.1 Market segments

6.2 Comparison by Distribution Channel

6.3 Offline - Market size and forecast 2022-2027

6.4 Online - Market size and forecast 2022-2027

6.5 Market opportunity by Distribution Channel

7 Market Segmentation by End-user

7.1 Market segments

7.2 Comparison by End-user

7.3 Personal - Market size and forecast 2022-2027

7.4 Health clubs - Market size and forecast 2022-2027

7.5 Market opportunity by End-user

8 Customer Landscape

8.1 Customer landscape overview

9 Geographic Landscape

9.1 Geographic segmentation

9.2 Geographic comparison

9.3 North America - Market size and forecast 2022-2027

9.4 Europe - Market size and forecast 2022-2027

9.5 APAC - Market size and forecast 2022-2027

9.6 South America - Market size and forecast 2022-2027

9.7 Middle East and Africa - Market size and forecast 2022-2027

9.8 US - Market size and forecast 2022-2027

9.9 China - Market size and forecast 2022-2027

9.10 UK - Market size and forecast 2022-2027

9.11 Germany - Market size and forecast 2022-2027

9.12 India - Market size and forecast 2022-2027

9.13 Market opportunity by geography

10 Drivers, Challenges, and Trends

10.1 Market drivers

10.2 Market challenges

10.3 Impact of drivers and challenges

10.4 Market trends

11 Vendor Landscape

11.1 Overview

11.2 Vendor landscape

11.3 Landscape disruption

11.4 Industry risks

12 Vendor Analysis

12.1 Vendors covered

12.2 Market positioning of vendors

12.3 Adidas AG

12.4 Barefoot Yoga Co.

12.5 Body Solid Inc.

12.6 Hugger Mugger Yoga Products LLC Inc.

12.7 JadeYoga

12.8 La Vie Boheme Yoga

12.9 Liforme Ltd.

12.10 lululemon athletica Inc.

12.11 Manduka LLC

12.12 Merrithew International Inc.

12.13 New Balance Athletics Inc.

12.14 Nike Inc.

12.15 OPTP

12.16 Second Earth Pty Ltd.

12.17 Yoga Direct LLC

13 Appendix

13.1 Scope of the report

13.2 Inclusions and exclusions checklist

13.3 Currency conversion rates for US$

13.4 Research methodology

13.5 List of abbreviations

About UsTechnavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

ContactTechnavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: [email protected]: www.technavio.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/yoga-mat-market-size-is-set-to-grow-by-usd-2-937-23-million-from-2022-to-2027--product-premiumization-owing-to-more-innovation-in-yoga-accessories-to-boost-the-market---technavio-301840153.html

SOURCE Technavio