Yoga Mat Market to Record USD 2.93 Billion Growth between 2022 to 2027, Market Share, Trends, Drivers, and Opportunity Assessment - Technavio

NEW YORK, Feb. 2, 2024 /PRNewswire/ -- The yoga mat market is estimated to grow by USD 2.93 billion from 2022 to 2027, growing at a CAGR of 5.84%. The yoga mat market is fragmented owing to the presence of many global and regional companies. "Product premiumization owing to more innovation in yoga accessories is notably driving the growth."

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Innovation is key in the global yoga accessories market, with manufacturers offering unique products like colorful mats made of natural materials such as jute and rubber. Premium features like antibacterial properties and nonslip surfaces are driving consumer interest and willingness to pay more for quality and longevity. The increasing availability of custom yoga mats is an emerging trend. Customized yoga mats are gaining popularity globally, driven by factors like technology and supply chain advancements. Manufacturers like ANYMATIC LLC offer personalized mats in various types, allowing customers to add images and text to meet their preferences, reflecting a growing trend in purchase decisions" says a senior analyst of Technavio.

Company Offering:

• Adidas AG - The company offers yoga mats such as 8mm thick EVA Yoga Mat, and 8mm thick TPE Yoga Mat.
• Barefoot Yoga Co. - The company offers yoga mats such as Assorted Stretchy Mat Straps by Barefoot Mat, Barefoot Yoga Hybrid Eco Mat, Kulae Yoga Hand Towel, Natural Jute and Per Eco-Friendly Yoga Mat.
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By Geography, the market is classified as North America, Europe, APAC, South America, and Middle East and Africa. 

North America is estimated to contribute 33% to the growth of the global market during the forecast period. The region is expected to grow steadily due to the increasing adoption of healthy lifestyles and physical activity, driving yoga practice and mat sales. Manufacturers are focusing on sustainable materials like jute and natural rubber. The US is the most lucrative market, driven by a rise in fitness centers, while Canada and Mexico also show significant growth potential as yoga gains popularity.

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The rising popularity of outdoor sports activities is a major challenge impeding the growth.

 Market Segmentation

• By Distribution Channel, the market is classified into offline and online. The growth by the offline segment will be significant during the forecast period. The retail segment for yoga mats includes pharmacies, mono-brand stores, department stores, hypermarkets, supermarkets, and specialty stores. Mono-brand stores sell products under a single brand and attract customers with their upscale appearance. Specialty stores offer unique selections of yoga mats, contributing to the segment's growth. These retail formats play a vital role in showcasing products and engaging customers through workshops and shopping coaches.

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Yoga Mat: Benefits

Yoga mats offer a range of benefits for practitioners, with various types catering to specific needs. Eco-friendly mats like PVC-free, non-toxic, and natural rubber options prioritize sustainability and health. Cork, jute, and TPE mats provide natural alternatives with unique textures and properties. Travel and foldable mats are convenient for on-the-go practice. Extra-thick and anti-slip mats offer enhanced comfort and stability, while alignment mats assist in proper posture. Hot yoga practitioners benefit from specialized mats with enhanced grip and moisture-wicking properties. Microfiber mats are known for their softness and absorbency, while printed and designer mats add a touch of style. Sustainability is further emphasized through organic and recycled materials. Yoga towel mats provide added grip and hygiene during practice, and meditation mats offer comfort during meditation sessions. Breathable and dual-layer mats provide ventilation and durability, while extra-long mats accommodate taller individuals.

Related Reports

The global ayurveda market size is estimated to grow by USD 7.19 billion, at a CAGR of 16.01% between 2023 and 2028. 

The yoga accessories market size is estimated to grow by USD 6,159.41 million at a CAGR of 6.9% between 2022 and 2027. 

TOC:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Size

5 Five Forces Analysis

6 Segmentation by Distribution Channel

7 Segmentation by End-User

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Company Landscape

12 Company Analysis

13 Appendix

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SOURCE Technavio