USD 13.65 billion
Report ID: SQMIG25J2063 | Region: Global | Published Date: April, 2023 | Pages: 265 | Tables: 91 | Figures: 76
Global Yoga Mat Market size was valued at USD 13.65 billion in 2021 and is poised to grow from USD 14.4 billion in 2022 to USD 23.32 billion by 2030, growing at a CAGR of 5.5% in the forecast period (2023-2030).
Yoga is widely regarded as one of the most efficient methods of maintaining mental and physical wellness. Different styles and materials of yoga mats offer comfort while performing yoga, and they are the most important accessory bought by yoga practitioners worldwide.
The primary factors propelling the growth of the yoga mat market are the rise in obesity incidence and the rise in consumer health consciousness. The International Health, Racquet & Sportsclub Association (IHRSA) reports that there has been a considerable rise in the number of health clubs, gyms, and other fitness facilities in recent years. This is anticipated to motivate consumers to practise yoga and other fitness-related activities, which would in turn help the yoga mat market expand.
US Yoga Mat Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 13.65 billion
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The Global Yoga Mat Market is segmented based on material, end-use, distribution channel and region. Based on the material, it is categorized into Polyvinyl Chloride (PVC), Thermoplastic Elastomer (TPE), Polyurethane (PU), Natural Rubber, and Cotton/Jute. Based on the end-use, it is categorized into Yoga & Fitness Clubs, and Household. Based on the distribution channel, it is categorized into Supermarket/Hypermarket, Specialty Stores, and E-commerce. Based on region, Yoga Mat Market is categorized into North America, Europe, Asia Pacific, The Middle East and Africa, and Latin America.
Yoga Mat Market Analysis by Material
On the basis of material, the Polyvinyl Chloride (PVC) yoga mat segment is currently dominating the global yoga mat market. Due to their widespread availability and low cost, PVC yoga mats are the most popular among users.
The market for cotton/jute yoga mats, however, is anticipated to have the greatest CAGR growth during the projection period due to its eco-friendliness and the rising popularity of yoga mats made of natural materials among customers.
Yoga Mat Market Analysis by Distribution Channel
On the basis of distribution channel, the specialty stores segment led the global yoga mat market and is expected to continue to do so throughout the forecast period. Due to consumer concern over the items they are purchasing for yoga and fitness activities, specialty shops are the most popular places for people to acquire yoga mats. Additionally, speciality shops give advice and recommendations based on consumer needs, allowing customers to select the accessory that is best for them. These benefits will likely cause the speciality retailers segment to rule throughout the projected period.
Additionally, e-commerce platforms are a great way to buy items like yoga mats because of busy lifestyles and a growing trend of convenient lifestyles among consumers. This is projected to fuel the expansion of the e-commerce segment, over the forecast period.
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Based on the region, the North American region currently dominates the global yoga mat market with respect to market share, due to the significant consumer expenditure on yoga and fitness-related products in nations like the United States and Canada. The presence of people with greater incomes is a major driver of market expansion in the region. Additionally, the region's growing availability of yoga and fitness facilities contributes to an increase in yoga mat usage.
On the other hand, the Asia Pacific area is expected to grow more quickly because of the quicker pace of population growth in nations like China and India. Additionally, rising hybrid cotton material use in the area is projected to boost production of yoga mats composed of these materials, which in turn fuels market expansion. Moreover, the popularity of yoga coaching programmes offered both physically and online is expected to boost demand for it during exercise.
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Yoga Mat Market Drivers
Yoga Mat Market Restraints
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The yoga mat market is highly fragmented due to a robust product range and a significant distribution network all over the world. Companies are focusing on product development and innovation in order to expand their customer base. Also, key players in the business are implementing the merger and acquisition strategy to increase their market revenue on a global scale.
Yoga Mat Market Top Players Company Profiles
Yoga Mat Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyzes the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to the analysis, the global yoga mat market is currently led by countries in the North American region, due to the significant consumer expenditure on yoga and fitness-related products in the region. Along with this, the Polyvinyl Chloride (PVC) yoga mat segment is currently leading the market, due to their widespread availability and low cost, and the cotton/jute segment is projected to grow significantly over the forecast period, due to its eco-friendliness and rising popularity.
|Market size value in 2021||USD 13.65 billion|
|Market size value in 2030||USD 23.32 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Yoga Mat Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Yoga Mat Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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