The Global Yoga Mat Market Expected to Reach at the Highest USD market value by 2027, Increasing Investments by Reputed Companies to Favor Growth: Fortune Business Insights

The global Yoga Mat Market report contains market revenue, market share, and production of the service providers is also mentioned with accurate data. Moreover, the global Yoga Mat Market report majorly focuses on the current developments, new possibilities, advancements, as well as dormant traps. Furthermore, the market report offers a complete analysis of the current situation and the advancement possibilities of the market across the globe. Yoga Mat Market size is forecasted to reach the Highest Revenue by 2027.

The global Yoga Mat Market is estimated to gain traction from the increasing investments by renowned companies,  Jade Yoga, Hugger Mugger, Alo Yoga, Lululemon Athletica, Manduka, prAna, Liforme Ltd., Khataland, Gaiam, Yoga Direct, Sug in the development of state-of-the-art products. The Yoga Mat Market size is expected to reach highest USD market value till 2027. Fortune Business Insights mentioned this information in a new report, titled “Yoga Mat Market Size, Share & Industry Analysis, By Product Type (Sticky Yoga Mats, Natural Rubber Yoga Mats, Plastic Elastomer Yoga Mats, Cotton & Hemp Yoga Mats and Others), By Distribution Channel (Hypermarkets & Supermarkets, Specialty Stores, Online Channels, Others), By End-User (Health & Fitness Clubs, Households, Schools & Corporates, Public Seminars & Events)  And Regional Forecast 2020-2027,” Furthermore, the market is anticipated to exhibit the highest CAGR during the forecast period 2020 to 2027 

This report analyses substantial key components such as production, capacity, revenue, price, gross margin, sales revenue, sales volume, growth rate, consumption, import, export, technological developments, supply, and future growth strategies.

COVID-19 Pandemic to Constitute a Call to Action for the Yoga Mat Market

The emergence of the COVID-19 pandemic is compelling the key players to rethink their portfolio priorities & to raise their exposure to the growing channels. It will necessitate greater use of mergers and acquisitions, as well as dynamic resource allocation for enhancing their portfolios. The regulatory bodies of several developed and developing nations have implemented stringent lockdown and social distancing measures to prevent transmission of the coronavirus. Therefore, most of the restaurants are on the verge of shutting down permanently.

The grocery volumes surged with pantry loading in the initial phase. Through this period, start-up companies struggled to pivot, while large companies concentrated on top lines and mobilized their supply chains. At present, several consumers are generating a shock to loyalty by changing their primary grocery store. This has opened the door to multiple opportunities for prominent companies to reassert the benefits of scale in the supply chain and to get closer to the consumers. However, this pandemic is persistently boosting consumer demand for reliance and value on digital.

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Some of the Key Players of the Yoga Mat Market include:

• Jade Yoga
• Hugger Mugger
• Alo Yoga
• Lululemon Athletica
• Manduka
• prAna
• Liforme Ltd.
• Khataland
• Gaiam
• Yoga Direct
• Suga
• La Vie Boheme Yoga
• Barefoot Yoga
• Trimax Sports
• Body-Solid
• others

Few of the most significant trends present in this market are:

• Shifting Demographics
• Altering Tax Regimes
• Concerns Regarding Health & Wellness
• Concentration & Modernization of Trade
• Rising Number of Digital Consumers
• Shift of Consumers towards Organic Products

Market Drivers and Restraints:-

Rising awareness regarding yoga & spiritual practices and their benefits is expected to drive the market growth.

Technology is considered to be a vital factor for the growth of the consumer goods industry. The proportion of sales through e-commerce platforms may reach a tipping point in the forthcoming years. Manufacturers are striving to shift their large consumer bases towards online platforms, thereby enabling them to customize products and conduct transactions on branded websites. Some of the others are making strategic choices on whether to follow suit. P&G, for instance, is running its own commercial website. The demographic changes, on the other hand, would enable manufacturers to discover unique ways for meeting the surging needs of geriatric population. Unilever, for instance, introduced its latest range of hair-care products, skin-care products, and deodorants called Pro-Age. The company’s target audience is female consumers belonging to the age group of 54 and 63 years.

Fluctuating prices of the raw materials is anticipated to restrain market growth.

As per the report, North America is expected to remain in the leading position in the global Yoga Mat Market in the coming years. Besides, the report delivers elaborate profiles of the most reputed manufacturers operating in the Yoga Mat Market.

 REGIONAL INSIGHTS:

By geography, the market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa.

North America region is expected to hold a major share in the market owing to the large spending of the consumers for yoga and fitness related products in countries such as the United States, and Canada. According to the Global Wellness Institutes, US consumer spending for mindful movement activities such as yoga, tai chi, qigong, pillates, bare and other activities has increased to USD 10.4 billion in 2018. Moreover, the increasing number of fitness & yoga centres in the region results in the increasing consumption of yoga mats. According to the International Council of Shopping Centres (ICSC), the number of fitness centre enterprises in the US was 86,996 in 2009 and is grown to 102,344 in 2018. The presence of the higher-income group of peoples is prominently driving the market growth in the region.

Asia Pacific region is projected to grow at a faster rate owing to the higher rate of the growing population in countries such as India and China. Also, increasing the consumption of the hybrid cotton material in the region is likely to increase the production of the yoga mats made up of hybrid cotton materials and drives the market growth. According to the Ministry of Textiles, Government of India, cotton material consumption in India in the year of 2017-18 has increased to 319.06 lack bales than that of 310.41 lack bales in 2016-17. Moreover, rising yoga coaching classes through online or physical modes is likely to increase the demand during their fitness activities. For instance, as of March 2020, in India, total of 13,000 new users have downloaded FITTR yoga and fitness application. This sharp rise in the number of downloads is due to the growing awareness of the physical fitness among users during the period of the COVID-19 pandemic outbreak.

Segmentation of Yoga Mat Market :- 

By Product Type
• Sticky Yoga Mats
• Natural Rubber Yoga Mats
• Plastic Elastomer Yoga Mats
• Cotton & Hemp Yoga Mats and Others
By Distribution Channel
• Hypermarkets & Supermarkets
• Specialty Stores
• Online Channels
• Others
By End-User
• Health & Fitness Clubs
• Households
• Schools & Corporates
• Public Seminars & Events
By Geography
• North America (U.S., Canada, and Mexico)
• Europe (Germany, France, Italy, Spain, U.K., Russia, and Rest of Europe)
• Asia Pacific (China, India, Japan, Australia, and Rest of Asia Pacific)
• South America (Brazil, Argentina, and Rest of South America)
• Middle East & Africa (South Africa, UAE, and Rest of ME&A)

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Key Questions Answered:
Why Choose Fortune Business Insights?
What are the key demands and trends shaping the market?
What are the key opportunities in the market?
What are the key companies operating in the market?
Which company accounted for the highest market share?
What is the market size and growth rate of the global and regional market by various segments?
What is the market size and growth rate of the market for selective countries?
Which region or sub-segment is expected to drive the market in the forecast period?
What Factors are estimated to drive and restrain the market growth?  

Research Methodology

The report provides in-depth information of consumer goods and their demand by evaluating the consumer buying behavior. It further offers an analytical depiction of the market, along with the most recent trends. Additionally, it consists of future estimations to depict prominent investment pockets. Our team of highly skilled analysts has used the Porter’s five forces analysis to illustrate the potency of the suppliers and buyers in the market. It has also utilized secondary resources, such as journals, press releases, and other similar documents to provide an elaborate analysis of the market. The overall market opportunity is determined by understanding the profitable trends in order to gain a robust foothold. Lastly, it presents data associated with challenges, dynamics, drivers, and hindrances of the market.

Consumer goods are intended for everyday consumption. They cover several product portfolios, such as non-food and food categories in order to fulfil the unmet needs. The industry is flourishing rapidly owing to the rising demand for fast-moving consumer goods (FMCGs), such as cosmetics, over-the-counter drugs, processed food and beverages, footwear, household cleaning products, toiletries, and pet-care products. Consumer durable goods, on the other hand, require few repeat purchases as they have longer lifespans. Such goods include leisure equipment, kitchen appliances, and electronic goods. For progress and survival, the market is dependent on advertising through various media, as well as retail outlets, namely, online platforms, malls, discount stores, and franchise stores.

It further answers the following questions:

• What is overall industry outlook and upcoming trends that will influence the market growth?
• Which other factors are driving and restraining the market?
• How has the market been segmented?
• How are changes in regional dynamics impacting the growth of the market?
• Who are the top companies in the market and what are their key strategies?

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Yoga Mat Market Report Focus on:

• Extensive product offerings
• Customer research services
• Robust research methodology
• Comprehensive reports
• Latest technological developments
• Value chain analysis
• Potential Market opportunities
• Growth dynamics
• Quality assurance
• Post-sales support
• Regular report updates

Reasons to Purchase this Report:

• Comprehensive analysis of the market growth drivers, obstacles, opportunities, and other related challenges.
• Tracks the developments, such as new product launches, agreements, mergers and acquisitions, geographical expansions, and joint ventures.
• Identifies market restraints and boosters.
• Identifies all the possible segments present in the market to aid organizations in strategic business planning.

KEY INSIGHTS
• New Advancements in Production Technologies
• Key Trends in the Synthetic Pyrethroids Market
• New Product Launches, Expansions, Key Players
• Ranking of Key Players in the Market

KEY INDUSTRY DEVELOPMENTS:-

• March 2017-Manduka, a high performing yoga accessory maker has launched high quality and cost-effective yoga mats for yogis and athletes.
• January 2020-Target launched an activewear brand ‘All in Motion’ that consists of a wide range of activewear products such as leggings, yoga mats, hand weights, and many other products to provide an efficient exercise solution to the consumers.

 
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