Enjoy complimentary customisation on priority with our Enterprise License!
The yoga accessories market size is estimated to grow by USD 6.55 billion at a CAGR of 6.91% between 2023 and 2028. The market is experiencing significant growth, driven by several key factors, including the trend toward product premiumization. Another factor is the increasing number of yoga practitioners worldwide, fueled by the growing popularity of yoga as a health and wellness practice. Additionally, government and corporate wellness initiatives are promoting yoga as a beneficial activity, further driving demand for related accessories. These elements collectively contribute to the robust expansion of the yoga accessories market. It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2018 to 2022.
To learn more about this report, Download Report Sample
A yoga enthusiast with a physical disability can find solace and strength through various yoga poses, despite the high level of competition in the yoga community. By focusing on the components of their practice and maintaining low carbon secretion heights, they can improve their overall well-being and manage illnesses, including regulating blood sugar levels and promoting healthy bodily fluids. However, the market faces challenges such as high-level competition, limited knowledge, the availability of low-cost alternatives, and seasonal demand. Restricted retail space and the perceived lack of necessity pose additional hurdles. Health and safety issues, including the proper selection and use of yoga apparel and equipment, are also important considerations in this market. Overall, the yoga accessories market is driven by the increasing awareness of the health benefits of yoga, the growing number of yoga enthusiasts, and the integration of yoga into healthcare and fitness practices. The rise of e-commerce activities further boosts the accessibility and availability of yoga accessories to a wider audience.
The growing number of yoga practitioners is notably driving market growth. Yoga helps the US to remain stress-free, boosts immunity, and even helps the US to fight critical diseases. With so many positive effects yoga is preferred by everyone. With the yoga sessions conducted online through various platforms such as YouTube, Instagram, Zoom, and Google Meet, the demand for yoga products and accessories is also increasing. Accessories are essential to perform yoga, being one of the most important, leading to significant growth of the global yoga props market during the forecast period.
Yoga is gaining popularity as a form of fitness activity, especially in North America. The Americas exhibited a significant acceptance of yoga in the last few years. For instance, the number of yoga practitioners in the US increased by more than 11% in 2018 compared to 6.40% in 2012. People are increasingly opting for this ancient form of fitness and meditation due to multiple reasons, including stress relief, general fitness, flexibility, and overall development of health. Similarly, yoga in Canada, as well as in many European and APAC countries, is also becoming popular, with an increasing number of people becoming more health conscious.
Growing enrolment in fitness and health clubs is a major trend in the market. Yoga products, including accessories, constitute the key segment in health and fitness clubs for many different purposes, such as weight training, limbering down, yoga, and general fitness exercises. The growing focus of people on health and fitness is triggering the growth of health and fitness clubs' brands. The number of these health and fitness clubs is expected to expand during the forecast period. This increase in the number of outlets of health and fitness clubs may directly influence the sales of yoga accessories globally during the forecast period.
Health and fitness clubs' memberships have witnessed a steady increase over the past decade. The number of health and fitness clubs is also rapidly increasing due to the growing demand for fitness activities. These clubs are coming up with exclusive packages to attract customers and provide them with yearly or monthly packages with discounts. These strategies will enable them to enhance their sales. Even premium customers get benefits like free workouts and yoga for one month. There has been a significant increase in the number of health and fitness clubs in the past decade. This rise in the number of memberships in health and fitness clubs has resulted in a rise in the demand for yoga products, including yoga equipment.
Fluctuating raw material prices is a major challenge impeding the yoga props market growth. In recent times, key manufacturers such as Lululemon Athletica are experiencing fluctuations in their profit margins due to the fluctuating prices of raw materials. For instance, the prices of synthetic fibers, such as keep fluctuating. Additionally, due to the non-availability of good quality polyester fibers, their prices are also rising. Subsequently, such volatility results in high prices of yoga props made using these raw materials.
The continuous change in the profit margins of market competitors due to the volatility in raw material prices acts as a major challenge for the growth of the global yoga accessories market. The lag between the cost fluctuations and the ability of the market competitors to increase product prices negatively impacts their profit margins. Raw materials price fluctuations make manufacturers unable to anticipate their investments or control costs. Moreover, cost-driven end-users prefer reasonably priced yoga products, including accessories, rather than investing heavily in global brands, which reduces the sales potential and revenue of global players in the global yoga accessories market. Such factors are hampering the growth of the market in focus.
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Lululemon Athletica - The company operates stores, and direct-to-consumers, with a high focus on company-operated stores. The company under this segment?sells healthy lifestyle-inspired athletic apparel and accessories through retail stores. The company's key offerings include yoga accessories.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market players, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the yoga mats segment will be significant during the forecast period. Yoga mats are specially fabricated to prevent the slippage of feet and hands while performing yoga exercises. These mats also help in keeping the body warm, and the energy generated is retained within the body rather than getting passed on to the floor.
Get a glance at the market contribution of various segments Request a PDF Sample
The yoga mats segment showed a gradual increase in the market share of USD 7.59 billion in 2018. The market for yoga mats is expected to grow steadily during the forecast period. Various NGOs and governments across the globe are taking initiatives to educate individuals about the advantages of yoga for a healthy life, which will increase the adoption of yoga mats during the forecast period. Vendors are developing smart and innovative yoga mats that offer real-time feedback. They are also offering yoga mats that have alignment guides to facilitate the placement of hands and legs. Yoga mats are usually thinner than the ones used for general exercises. They provide more stability to support various yoga postures. Thicker mats can reduce the stability of the practitioner and may affect the postures. Yoga mats are usually manufactured by using various raw materials such as natural rubber, PVC (polyvinyl chloride), jute, and cotton. Owing to the abovementioned factors, the yoga mat segment is expected to grow during the forecast period.
For more insights on the market share of various regions Request PDF Sample now!
North America is estimated to contribute 37% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
The demand for yoga accessories in North America has increased with a rise in participation in regular fitness activities, such as yoga. Competitors capitalize on the awareness about the benefits of staying fit, introduce new offerings, and increase their revenue. However, the yoga accessories market in the region is expected to face certain challenges. Many people in the region are taking up sports and outdoor activities such as cycling, watersports, camping, and mountain climbing. This acts as a challenge for the market.
Although there are potential challenges in the region, the yoga accessories market in the US is highly competitive and is the largest in the region. The growing health and wellness consciousness in the US will contribute to market growth in the country. The demand for innovative yoga accessory designs and patterns that offer enhanced comfort and improved performance is high. Canada and Mexico are the other major yoga accessories markets in the region, with a high number of yoga practitioners owing to the rising number of working women. The concept has slowly gained popularity and witnessed considerable uptake as customers prefer to change from other fitness activities to yoga. Therefore, the popularity of different fitness activities, such as yoga, in most parts of the region is expected to boost the growth of the market in the region during the forecast period.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD Billion " for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
Yoga Mat Market by Distribution Channel and Geography - Forecast and Analysis
Yoga Clothing Market Analysis North America, Europe, APAC, South America, Middle East and Africa - US, China, Germany, UK, Japan - Size and Forecast
Smart Yoga Mat Market by Distribution Channel and Geography - Forecast and Analysis
The market is witnessing significant growth due to the increasing health consciousness among individuals, including beginners and those with physical disabilities. Modern yoga practitioners are embracing the natural environment by practicing on grass or mud, but this can sometimes lead to injuries or strain on muscles and the spine. To enhance their practice, a variety of yoga props, such as blankets, bolsters, and pillows, are utilized, providing support and comfort. The market offers eco-friendly products made from natural raw materials, avoiding the use of nylon, plastic, and polyurethane. These accessories are recyclable and promote a sustainable and healthy lifestyle. Yoga enthusiasts can choose from a wide range of high-quality products, including cotton straps in colors like lake lilac violet, pine green, gray, and haze coral. The key benefits of yoga accessories include improved flexibility, relaxation, and stress reduction. Future estimations suggest a growth in healthy lifestyle activities, driven by the growth of e-commerce, product design innovation, celebrity endorsements, and personalization.
|
Industry Scope |
|
|
Report Coverage |
Details |
|
Page number |
168 |
|
Base year |
2023 |
|
Historic period |
2018 - 2022 |
|
Forecast period |
2024-2028 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 6.91% |
|
Market growth 2024-2028 |
USD 6.55 billion |
|
Market structure |
Fragmented |
|
YoY growth 2023-2024(%) |
6.34 |
|
Regional analysis |
North America, APAC, Europe, Middle East and Africa, and South America |
|
Performing market contribution |
North America at 37% |
|
Key countries |
US, China, UK, Germany, and France |
|
Competitive landscape |
Leading Companies, Market Positioning of Companies, 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, Padma Seat, 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, Market growth and Forecasting, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for market forecast period |
|
Customization purview |
If our market forecasting report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
Get the report (PDF) sent to your email within minutes.
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.
