Yoga Mat Market Value is Expected to Grow USD 3765.6 Million by 2028 with a CAGR of 12% | Valuates Reports
BANGALORE, India, Aug. 30, 2022 /PRNewswire/ -- The Global Yoga Mat Market is Segmented by Type (PVC yoga mats, Rubber yoga mats, TPE yoga mats), by Application (Household, Yoga club): Opportunity Analysis and Industry Forecast, 2022–2028. It is published in Valuates Reports under the Fitness Category.
Due to the COVID-19 pandemic, the global Yoga Mat market size is estimated to be worth USD 1907.8 Million in 2022 and is forecast to be a readjusted size of USD 3765.6 Million by 2028 with a CAGR of 12.0% during the forecast period.
Major Factors Driving the Growth of the Yoga Mat Market
The preference for online yoga classes, innovative product designs for better comfort, and government support will drive the growth of the market.
The rising prevalence of obesity, chronic diseases, and increasing awareness of yoga-related benefits will fuel the growth of the market.
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TRENDS INFLUENCING THE GROWTH OF THE GLOBAL YOGA MAT MARKET
The onset of the pandemic has forced people to look at virtual options for staying fit. The increasing awareness of yoga, spiritual practices, and their health benefits are driving practitioners to online yoga memberships. Digital classes provide greater time flexibility, enhanced space, and the ability to select different teachers, workshops, styles, and lectures. This will fuel the growth of the yoga mat market in the coming years. Live stream classes enable learners to develop practice in a comfortable home environment with instant access to a teacher. Moreover with rising digital connectivity companies are able to integrate AI features with yoga mats to provide real-time feedback on body position, flexibility, and strength. Stretching movements during yogic asanas become easier.
Government bodies around the world are encouraging manufacturers to invest in eco-friendly components for developing yoga mats. Along with PVC yoga mats, other innovative product designs are being introduced for providing enhanced comfort and convenience. The unique laser cut pattern helps in providing effortless alignment of poses and superior grip. The right amount of cushion makes the material ideal for yoga and other fitness practices. This will drive the growth of the yoga mat market. The products are biodegradable and made from natural teak rubber which offers a luxurious feel and professional level performance. The mats are foldable, easy to carry, comfortable, and can be used everywhere.
Meditative practices are getting popular due to extensive government support. In addition to it, seminars and events related to spiritual practices and dharmic traditions in the form of online and physical coaching are flourishing. The increasing income levels of the global population have led to a large number of yoga club memberships. This will in turn drive the growth of the yoga mat market. The mats help practitioners to keep their hold strong on the surface due to their anti-slipping nature. The level of insulation between the human body and the ground prevents any loss of heat, charge, or energy from the body to the ground thereby providing a sort of thermal insulation.
The increasing cases of obesity and active health consciousness amongst consumers are driving the demand. Obesity creates a lot of health disorders such as hypertension, hypotension, cardiac arrest, and diabetes. Hence people are participating in yoga to reduce stress, improve blood circulation and lose weight. This will bolster the growth of the yoga mat market in the upcoming years. Consumers are increasingly joining yoga studios and fitness clubs.
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YOGA MAT MARKET SHARE ANALYSIS
Based on type, PVC yoga mats will grow the highest in the yoga mat market share with 50%. PVC offers several benefits such as durability, flexibility, easily washable, and cheaper than other alternatives.
Based on application, the household segment will be the most lucrative during the forecast period.
Based on region, North America will witness considerable growth with a market share of 35% due to rising awareness of the health benefits of yoga and the rapid expansion of yoga studios. It is followed by China with a market share of 30%.
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Key Companies:
- Lululemon
- Manduka PROlite
- Jade Yoga
- Hugger Mugger Para Rubber
- PrAna Revolutionary
- Gaiam, Easyoga
- HATHAYOGA
- Kharma Khare
- Hosa
- Yogabum
- Aerolite
- Aurorae
- Barefoot Yoga
- Keep well
- Khataland
- Microcell Composite
- Yogarugs
- Copeactive
- Yogasana, A. Kolckmann
- JiangXi Lveten Plastic
- Liforme
- Starlight Yoga
- Bean Products
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- The global fitness equipment market size was USD 11.6 Billion in 2020, and is projected reach USD 14.8 Billion by 2028, registering a CAGR of 3.3% from 2021 to 2028.
- Due to the COVID-19 pandemic, the global Physical Fitness Equipment market size is estimated to be worth USD 15040 Million in 2022 and is forecast to a readjusted size of USD 19750 Million by 2028 with a CAGR of 4.6% during the review period.
- The global Virtual and Online Fitness market is projected to reach USD 64570 Million by 2028, from USD 6551.9 Million in 2021, at a CAGR of 38.2% during 2022-2028.
- The global treadmill market size was valued at USD 3,284.8 Million in 2020, and is projected to reach USD 5,932.0 Million by 2030, registering a CAGR of 5.1%.
- The global fitness app market size was valued at USD 13.78 Billion in 2020 and is projected to reach USD 120.37 Billion by 2030 at a Compound Annual Growth Rate (CAGR) of 24.3% from 2021 to 2030.
- Due to the COVID-19 pandemic, the global Fitness Tracker market size is estimated to be worth USD 34540 Million in 2022 and is forecast to a readjusted size of USD 134320 Million by 2028 with a CAGR of 25.4% during the review period.
- The global Home Fitness Equipment market was valued at USD 3.84 Billion in 2021, growing at a CAGR of 5.2% during 2022-2028.
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