The yoga mat market size was valued at $13.3 billion in 2018, and is estimated to reach $23.2 billion by 2026, registering a CAGR of 7.1% from 2019 to 2026. In 2018, the PVC segment accounted for more than one-third of the total yoga mat market share. Yoga is considered to be one of the most effective ways to keep mind and body healthy. Yoga mats of different types and materials provide comfort while practicing yoga, and serve as the most essential accessory purchased by yoga practitioners across the globe.
Rise in prevalence of obesity and increase in health consciousness among consumers are the key factors that drive the growth of the yoga mat market. Obesity is associated with a number of health issues or disorders such as sudden cardiac arrest, hypertension, hypotension, and diabetes. Therefore, to lose weight, reduce stress, and improve blood circulation, obese people tend to participate in yoga, thereby supporting the yoga mat market growth. Owing to increasing health consciousness, consumers are increasingly joining yoga studios and fitness clubs for practicing yoga and other fitness activities. According to annual surveys conducted by the International Health, Racquet, & Sportsclub Association (IHRSA), significant increase has been witnessed in the number of health clubs, gyms, and other fitness centers in the recent past. This is expected to encourage people to engage into practicing yoga and fitness activities, which, in turn, will contribute toward the growth of the yoga mat market.
Furthermore, manufacturers have been focusing on providing yoga mats with enhanced comfort, more convenience, and with different material selection to consumers to gain a competitive edge in the global market.
The global yoga mat market is segmented into material, end user, distribution channel, and region. By material, the market is categorized into PVC, TPE, rubber, cotton/jute, and others. Depending on end user, it is segregated into yoga and fitness clubs, household, and others. On the basis of distribution channel, it is divided into supermarket/hypermarket, specialty stores, e-commerce, and others. Region wise, it is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, Australia, India, and rest of Asia-Pacific), and LAMEA (the Middle East, Latin America, and Africa).
The Cotton/Jute segment would witness the fastest growth, registering a CAGR of 7.9% during the forecast.
On the basis of material, the PVC segment accounted for the highest share in the global market in 2018. Yoga mat made from PVC have been the widely used among consumers, due to its worldwide availability and cost-effectiveness. However, the market for cotton/jute yoga mat is expected to grow at the highest CAGR during the yoga mat market forecast period, owing to its eco-friendly nature and surge in inclination of consumers toward yoga mats made from natural material.
By End User
Yoga and fitness clubs segment would witness the fastest growth, registering a CAGR of 7.6% during the forecast period.
On the basis of end user, the household segment held a significant share in the global market in 2018. However, the yoga fitness & clubs segment is expected to garner the highest share during the forecast period, owing to increase in number of health & fitness centers. This is attributed to increase in consumer awareness about the health benefits offered by practicing yoga.
By Distribution Channel
The E Commerce segment would witness the fastest growth, registering a CAGR of 6.8% during the forecast.
Depending on distribution channel, the specialty stores segment dominated the yoga mat market, with more than half of the share in 2018, and is expected to retain its dominance throughout the forecast period. Specialty stores are the most preferred for purchasing yoga mats, as customers are conscious about the accessories they are buying for yoga & fitness activities, due health concerns. Moreover, specialty stores provide guidance and suggestions depending on the requirements of customers, which enable customers to choose the most suitable accessory for themselves. Owing to these advantages, the specialty stores segment is expected to dominate throughout the forecast period. Furthermore, owing to busy lifestyle and increase in trend of convenient lifestyle among consumers, e-commerce channels serves as an ideal option for purchasing accessories such as yoga mats. This is anticipated to propel the growth of the e-commerce segment during the forecast period.
Asia-Pacific is the largest market growing at a CAGR of 8.1% from 2019-2026.
Region wise, Asia-Pacific was the prominent market in 2018, accounting for the maximum share. This is attributed to increase in number of yoga practitioners and surge in adoption of yoga mats from India, China, Japan, and Australia. Increase in initiatives by government and fitness clubs to promote yoga is expected to drive the market for yoga accessories in the region, eventually propelling the growth during the yoga mat market forecast.
The key players profiled in the report include Manduka, Jade Fusion, prAna, Hugger Mugger, Adidas, Lululemon Athletica, Ecoyoga, Aurorae Yoga, LLC, Eupromed, and Yaazhtex.
Key Benefits for Stakeholders:
- The report provides a quantitative analysis of the current yoga mat market trends, estimations, and dynamics of the market size from 2018 to 2026 to identify the prevailing opportunities.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
- In-depth analysis of the market size and segmentation assist to determine the prevailing yoga mat market opportunities.
- The major countries in each region are mapped according to their revenue contribution to the yoga mat market.
- The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the yoga mat industry.
Yoga Mat Market Report Highlights
By END USER
By DISTRIBUTION CHANNEL
Key Market Players
ADIDAS AG, (ADIDAS), Jade Yoga, YAAZHTEX, LULULEMON ATHLETICA INC, Eupromed, prAna, Hugger Mugger, Manduka, Ecoyoga Ltd, Aurorae Yoga, LLC
Surge in demand for ecofriendly yoga mats has been witnessed in the recent past, which is expected to continue during the forecast period. Inclination toward yoga mats with different shapes and portability is among the key factors attracting a large customer base. In addition, increase in investment in R&D to provide innovative yoga mats fuels the market growth. For instance, Smartmat launched the world’s first intelligent yoga mat, which indicates the correct pose as a real-time feedback if the user is not in the alignment and stores the data about the same. Thus, all these factors together are expected to offer lucrative growth opportunities for market expansion in the near future.