Global Yoga Mat Market Market Overview
The global yoga mat market size was valued at USD 8500 million in 2019 and is estimated to reach USD 11000 million with a significant CAGR of 4.5% during the forecast period of 2021-2027. The key drivers impacting the yoga mat market are the increasing popularity of yoga and the rising prevalence of lifestyle diseases such as type 2 diabetes, obesity, etc., globally. According to the World Health Organization, globally, there were over 1.9 billion adults, aged 18 years and older, were overweight in the year 2016. Among these, around 650 million people were obese.
In addition to this, the growing popularity of yoga leads to more participation of people across the globe is anticipated to increase the yoga mat market demand under the forecast period. According to the Yoga Alliance, the number of yoga practitioners in America has increased by 20.4 million and reached 36 million in 2016 compared to 2012. In America, around 28% of all Americans have participated in a yoga class at some stage in their life.
The high adoption of yoga mat due to growing awareness about yoga's health benefits is estimated to be a critical determinant adding growth to the market. According to the International Yoga Federation, presently, there are over 300 million people who do yoga across the globe. Also, the current trend of taking yoga classes at yoga studious among people globally is positively impacting the market. However, the volatility of raw material prices may hamper the global yoga mat industry in the long run. Also, the availability of alternatives to yoga mats is likely to limit its market growth. The current industry trends, such as the growing usage of eco-friendly and biodegradable materials in the coming decade, create new market opportunities for the key players.
The yoga mat market is vast, with a large number of local and global players. The key leaders follow various strategies to improve their market position, such as mergers, acquisitions, expansions, and improved quality products at the best prices to enhance their market share across the world. For instance, In July 2020, Lululemon Athletica Inc. acquired MIRROR (US), an in-home fitness company. It provides over 40 class types and 70 new classes per week that include weight training, strength training, yoga, and pre-and post-natal workouts. The report studies a few key players of the global yoga mat market in detail, covering the company profile, product list, and financial information. The dominating key players included in the report are Lululemon, Manduka, Jade Yoga, prAna, Hugger Mugger, Khataland, Liforme Ltd., Dragonfly, Tomuno, and Alo Yoga, Inc. always been the initial targets of yoga mat companies and many others.
In this market research report, the market is segmented by materials, distribution channel, and region.
Analysis By Material
By materials, the report is categorized into Natural Rubber, Polyvinyl Chloride, Polyurethane, Thermoplastic Elastomer, and Others (cotton and jute). A Polyvinyl Chloride dominates the material segment in 2019 with a maximum market share of 30% in revenue. It is expected to maintain its dominancy over the forecast period because of its widespread usage among consumers. Moreover, PVC is readily available, durable, and highly cost-effective as compared to other polymers. Moreover, there is rising adoption of PVC mats as it is highly flexible, durable, and more comfortable to wash in comparison to other materials, thus driving the PVC material segment.
Analysis By distribution channel
By distribution channel, the report is categorized into specialty store, departmental store & hypermarket, and online channel. Specialty Store dominates the distribution channel segment in 2019 with a maximum market share of 35%. It is due to the rising number of specialty stores, growing preference for specialty stores as they provide guidance and suggestions as per the need of customers. Moreover, the growing health concerns make customers more conscious regarding the accessories they are buying for yoga & fitness activities, which pushes them to buy from specialty stores is driving the specialty store segment in the forecast period.
Analysis By Region
In the regional outlook of the global yoga mat market, Asia pacific dominates with 30% market shares in 2019. Asia Pacific region is the significant region globally driving the market share over a forecast period. The encouraging government initiatives and the rising participation of APAC region people are the key factors leading to the region's product demand. Indian governments have started supportive programs to endorse yoga and Ayurveda. For instance, in 2017, the Indian government opened over 100 Yoga Parks in the country. Moreover, the growing number of yoga studios in Shanghai, Beijing, and other Chinese cities are the chief growth factors contributing at a regional level. The APAC market is anticipated to record considerable growth during the forecast period due to the growing number of yoga studios in Shanghai, Beijing, and other Chinese cities.
Market Segmentation covered in the Report:
By Distribution Channel
- Specialty Store
- Departmental Store & Hypermarket
- Online Channel
- North America
- the Asia Pacific
- Latin America
- The Middle East and Africa
This market research report has been produced by gathering information on the basis of primary and secondary research. Secondary research has been done by using various sources which include (but not limited to) Company Websites, Paid Data Sources, Technical Journals, Financial Reports, SEC Filings, and other different industry publications.
If specific information is required which is not currently within the scope of the report, it can be provided as a part of customization.