The global yoga mat market size is projected to grow from USD 8.9 billion in 2020 to USD 10.4 billion by 2025, at a CAGR of 3.0% during the forecast period 2020 to 2025. Rising popularity of yoga, an increase in the rate of obesity, and an increase in the prevalence of lifestyle diseases across the globe is expected to accelerate the growth of the yoga mat market.
The health club end-use segment is projected to grow at the highest CAGR during the forecast period. Based on end-use, the health club segment is projected to grow at the highest CARG during the forecast period.A health club is a place that keeps exercise equipment for the purpose of physical exercises, muscle strengthening, and general physical workouts.
In business terms, it is a company providing people access to controlled environmental space, along with services focused on physical fitness and health.In recent years, the number of health clubs and fitness services has risen globally due to an increase in health-conscious individuals.
According to the International Health, Racquet & Sportsclub Association (IHRSA) Global Report, in 2019, the revenues in the fitness industry totaled to USD 94 billion, estimating that the health clubs may reach 230 million members by the end of 2030.The US Bureau of Labor Statistics (BLS) also predicts the number of fitness trainers and instructors will grow by 13% from 2018 to 2028.
These developments suggest that the growth of the fitness industry will also lead to a rise in the number of health clubs globally.
The supermarket & hypermarket distribution channel segment is projected to grow at the highest CAGR during the forecast period. Based on distribution channel, the supermarket & hypermarket segment is projected to grow at the highest CARG during the forecast period.A supermarket is a self-service shop offering a wide variety of food, beverages, and other household products organized into sections.
It is larger in terms of size and has a wider range of products than a traditional grocery store.Some supermarkets also sell fitness products such as yoga mats and exercise bands.
A hypermarket is an expansive retail facility offering a wide range of products under one roof, including groceries and other general merchandise.The hypermarket is basically a combination of a supermarket and a departmental store, thus making it a one-stop destination for buying a range of products.
Fitness products, such as yoga mats, are abundantly available in a hypermarket, as this store focuses more on increasing their sales, in terms of volume, as compared to supermarkets.
The other materials segment is projected to grow at the highest CAGR during the forecast period. Based on material, the others segment is projected to grow at the highest CARG during the forecast period.Other materials used for producing yoga mats include cotton and jute.
These materials are plant fibers and are extracted from natural sources.Consumers are switching to use eco-friendly products in their daily lives.
As a result, cotton and jute yoga mats are also being preferred over PVC or PU mats. Cotton and jute yoga mats are breathable, durable, and can be washed easily as compared to other yoga mats.
Middle East is projected to grow the highest CAGR in the yoga mat market during the forecast period. Middle East is projected to grow at the highest CAGR in the yoga mat market from 2020 to 2025.The increasing popularity of yoga and the rising obesity rate in the region are driving the demand for yoga mats in the Middle East.
The Middle Eastern region segment in this study comprises Saudi Arabia and the UAE.According to the journal of obesity, the six Arab Gulf states (Saudi Arabia, the UAE, Bahrain, Kuwait, Oman, and Qatar) are among the countries with very high levels of obesity and overweight individuals.
Governments in these countries are employing various strategies and programs to combat this.In recent years, Saudi Arabia and the UAE have introduced several programs to promote better health, including the Saudi “Quality of Life Program 2020,” which aims to encourage community participation in sports and physical activities.
Such initiatives are expected to support the growth of yoga practice in the region, which, in turn, is expected to drive the demand for yoga mats in the Middle East.
Profile break-up of primary participants for the report: • By Company Type: Tier 1 – 45%, Tier 2 – 22%, and Tier 3 – 33% • By Designation: C-level Executives – 50%, Directors – 10%, and Others – 40% • By Region: Asia Pacific – 17%, Europe – 25%, North America – 33%, Middle East & Africa- 8%, and South America – 17%
Furthermore, as a part of the qualitative analysis of the yoga mat market, the research provides a comprehensive review of drivers, restraints, opportunities, and challenges influencing the growth of the market across the globe. It also discusses competitive strategies adopted by the leading market players such as Lululemon Athletica Inc (Canada), Columbia Sportswear Company (US), Sequential Brands Group Inc. (US), Jade Yoga (US), Manduka LLC (US), Hugger Mugger Yoga Products (US), Liforme Ltd. (UK), Barefoot Yoga Co. (US), Fabrication Enterprises, Inc. (US), Quanzhou Sansheng Rubber Plastic Foamed Shoes Materials Co., Ltd. (China), adidas AG (Germany), La Vie Boheme Yoga (US) (US), Accessory Arcade (India), Eupromed S.R.O. (Czech Republic), Ningbo Mylon Rubber & Plastic Co., Ltd. (China), Winboss International Co., Ltd (Taiwan), Xiamen Sanfan Sports Products Co, Ltd. (China), Alo Yoga (US), TEGO (India), Ecoyoga (US), Shenzhen Haifuxing Technology Co., Ltd (China), Shanghai Fitness Sourcing Inc. (China), Fitness Mats (India), and Yoga Direct LLC (US), among others.
Research Coverage: The report defines, segments, and projects the size of the yoga mat market based on material, distribution channel, end use and region.It strategically profiles the key players and comprehensively analyzes their market share and core competencies.
It also tracks and analyzes competitive developments such as expansions, new product developments, contracts, and joint ventures undertaken by them in the market.
Reasons to buy the Report: The report is expected to help the market leaders/new entrants in the market by providing them the closest approximations of revenue numbers of the yoga mat market and its segments.This report is also expected to help stakeholders obtain an improved understanding of the competitive landscape of the market, gain insights to improve the position of their businesses, and make suitable go-to-market strategies.
It also enables stakeholders to understand the pulse of the market and provide them information on key market drivers, restraints, challenges, and opportunities.
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