Yoga Mat Market Is set Grow At A CAGR of 7.1% According To Allied Market Research

The growth of the global yoga mat market is driven by introduction of innovative yoga mats with enhanced functionality, improved material, and superior comfort. The expansion of e-commerce retail channels globally is further expected to facilitate the growing reach of yoga mats in emerging markets.

Yoga Mat Market garnered $14.29 billion in 2019, and is estimated to reach $23.2 billion by 2026, growing at a CAGR of 7.1% from 2019 to 2026.

Increase in demand for yoga mats from emerging markets, rise in obese population, and surge in government initiatives to promote healthy lifestyle fuel the growth of the global yoga mat market. On the other hand, rise in issues associated with yoga mats impedes the growth to a certain extent.

Nevertheless, product innovation and inclination toward mats made from natural materials is expected to create lucrative opportunities for the key players in the industry.

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Based on material, the PVC segment contributed to more than one-third of the global yoga mat market share in 2018, and is expected to rule the roost by the end of 2026. These mats are light in weight and are highly resistant to moisture, which make them an ideal base for practicing yoga.

In addition, its low cost and enhanced comfort offered during yoga practice fuels the growth of the segment. Simultaneously, the cotton/jute segment would cite the fastest CAGR of 7.9% from 2019 to 2026.

This is due to rise in demand for yoga mats fabricated from biodegradable and eco-friendly materials.

Based on end-user, the household segment held the major share in 2018, generating nearly three-fifths of the global yoga mat market. Online yoga classes for practicing yoga, and their time flexibility and comfort, drives the growth of the segment.

At the same time, the yoga and fitness club segment would showcase the fastest CAGR of 7.6% throughout the forecast period, owing to rise in consumer awareness about the health benefits of practicing yoga, and online pricing of memberships including special discounts, priority scheduling, or access to exclusive services of professional classes.

Based on geography, the market across Asia-Pacific accounted for more than one-third of the global yoga mat market revenue in 2018 and is projected to dominate throughout the study period. In addition, the region would register the fastest CAGR of 8.1% by 2026.

This is attributed to the availability of yoga classes in this region, and rise in popularity of hybrid forms of yoga. On the other hand, North-America contributed to the second highest share of the global market.

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Leading market players-

Jade Fusion
Adidas
prAna
Lululemon Athletica
Eupromed
Ecoyoga
Hugger Mugger
Aurorae Yoga, LLC
Yaazhtex
Manduka

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting services to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

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This release was published on openPR.