Allied Market Research
PORTLAND, OREGON, UNITED STATES, May 11, 2023 /EINPresswire.com/ — According to the published by Allied Market Research, the global yoga mat market was estimated at $13.3 billion in 2018, and is expected to garner $23.2 billion by 2026, registering a CAGR of 7.1% from 2019 to 2026.
Increase in demand for yoga mats from developing markets, rise in obese populations, and surge in government initiatives to promote healthy lifestyle fuel the growth of the global yoga mat market. However, increase in issues associated with yoga mats restrain the market. Moreover, product innovations and inclination toward eco-friendly mats are expected to unlock an array of opportunities for the market players in the future.
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The yoga mat market growth is propelled by alarming surge in incidence of obesity and health-related diseases. In addition, consumers are increasingly following fitness practices such as yoga and are engaged in purchasing accessories for the same such as yoga mat, blocks, and yoga pants, which boost the growth of the global market. Furthermore, governments of various countries and yoga & fitness clubs have been actively engaged in promoting yoga worldwide, which has resulted in increased awareness of benefits of yoga globally. For instance, the Indian Prime Minister Narendra Modi proposed the idea of International Yoga Day at United Nations General Assembly (UNGA) in 2014. This encouraged people worldwide to practice and get involved in yoga and Pilates. Moreover, in 2016, the Indian Prime Minister asked his ministers to make Yoga a mass movement. All these factors collectively are anticipated to increase the number of yoga practitioners, which, in turn, will propel the demand for yoga mats, thereby driving the growth of the global market.
The global yoga mat market is segmented on the basis of material, end user, distribution channel, and geography. Based on material, the market is further segregate into PVC, TPE, rubber, cotton/jute, and others. The PVC segment held the largest share in 2019, accounting for one-third of the market. In addition, the segment is projected to lead the trail throughout the forecast period. On the other hand, the cotton/jute segment is estimated to cite the highest CAGR of 7.9% during the forecast period.
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Based on end user, the market is divided into yoga & fitness clubs, household, and others. The household segment held the highest market share in 2019, accounting for nearly three-fifths of the market. In addition, the market is further estimated to rule the roost by the end of 2026. However, the yoga & fitness club segment is expected to exhibit the highest CAGR of 7.6% during the forecast period.
Based on region, the market is studied across Asia-Pacific, Europe, LAMEA, and North America. The Asia-Pacific region held the highest market share, with more than one-third of the total market revenue in 2019. In addition, the province is also expected to manifest the highest CAGR of 8.1% during the study period.
The major market players profiled in the global yoga mat market include in-depth analysis of the major market players such as Jade Fusion, prAna, Adidas, Eupromed, Lululemon Athletica, Hugger Mugger, Ecoyoga, Yaazhtex, Aurorae Yoga, LLC, and Manduka.
Key Findings of the Study:
By material, the cotton/jute segment is estimated to witness the fastest growth, registering a CAGR of 7.9% during the forecast period.
Depending on end user, the household segment is expected to dominate the market for yoga mat, globally, holds 57.1% of share in the market.
In 2018, by distribution channel, the specialty stores segment held the highest share, accounts 53.71% of the global yoga mat market share.
In 2018, the U.S. was the most prominent market globally, and is expected to grow at a significant CAGR throughout the forecast period.
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Originally published at https://www.einpresswire.com/article/633088918/yoga-mat-market-size-worth-usd-23-2-billion-by-2027-registering-a-cagr-of-7-1