Yoga Mat Market Size Expected to Reach USD 2.5 billion by 2025
As per Market Research Future (MRFR) analysis, the global yoga mat market estimated to grow to USD 2.5 billion with a CAGR of 7.2% from 2019 to 2025 (forecast period). The report provides a thorough analysis of the market, including production, suppliers, quality, consumption, growth rate, sales revenues, supplies, imports and exports, and technological developments. This report also analyzes the impact of COVID-19 on the yoga mat industry.
Yoga is known to be one of the most effective ways to keep the mind and body healthy. Yoga mats of various types and materials offer comfort when practicing yoga and serve as the most essential item purchased by yoga practitioners around the globe. Yoga mats are made of rubber to provide sitting support while practicing yoga. With the rising popularity of yoga across the globe, leading players in the global market for yoga mats are joining hands for creating collaborative products with the goal of attracting more consumers.
Some of the significant participants profiled in the Yoga Mat Market size include Jade Yoga (US), Liforme LTD (UK), Mandala Yoga Mat (UK), Aerolite (India), Elyisian (Taiwan), Outdoorgearlab LLC Prana Revolution (US), Hugger Mugger (US), Shrine Sports Distributor Stag (India).
Growing prevalence of obesity and rising customer health consciousness are key factors driving the growth of the yoga mat industry. Obesity is associated with a variety of health conditions or diseases such as sudden cardiac arrest, hypertension, hypotension, and diabetes. As a result, to lose weight, relieve stress, and increase blood circulation, obese people prefer to engage in yoga, promoting the growth of the yoga mat industry. As health consciousness increases, customers are gradually entering yoga studios and fitness clubs to practice yoga and other wellness activities. In addition, manufacturers are focused on offering yoga mats with improved comfort and more convenience to customers to achieve a competitive advantage in the global market.
However, fluctuating prices of raw material are expected to hinder the growth of the yoga mat market.
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The global market for yoga mat has been segmented into product type, distribution channel, and end-user.
By product type, the global market for yoga mat has been segmented into PVC yoga mats, rubber yoga mats, TPE yoga mats, cotton yoga mats, and others. PVC yoga mat segment had the largest market share of 39.4% in 2018. This segment is projected to be dominant since these materials are cheaper than other materials.
By distribution channel, the global market for yoga mat has been segmented into store-based (supermarkets and hypermarkets, specialty stores, and other) and non-store based. Most of the yoga mats are sold through store-based retailers. Therefore, this segment accounted for the largest market.
By the end-user, the global market for yoga mat has been segmented into adults and children. The adult segment is the largest market and expected to register the highest CAGR over the forecast period.
Region-wise, the global market for yoga mat has been segmented into North America, the Asia Pacific, Europe, and the rest of the world.
The Asia Pacific was the leading region in 2018, accounting for the highest share. It is due to an increase in the number of yoga practitioners and an increase in the number of yoga mats brought from India, China, Japan, and Australia. The rise in government and fitness club initiatives to encourage yoga is expected to drive the demand for yoga accessories in the region, eventually boosting growth in the yoga mat market during the forecast period.
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