NEW
YORK, June 24, 2024 /PRNewswire/ -- The global
yoga mat market size is estimated to grow by USD 2.87 billion from 2024-2028, according to
Technavio. The market is estimated to grow at a CAGR of over 5.5%
during the forecast period. Product premiumization owing to more
innovation in yoga accessories is driving market growth, with a
trend towards increasing focus on using sustainable raw materials.
However, inconsistent pricing of raw materials poses a challenge.
Key market players include Adidas AG, Barefoot Yoga Co., Body Solid
Inc., Decathlon SA, Hugger Mugger Yoga Products LLC Inc., JadeYoga,
La Vie Boheme Yoga, Liforme Ltd., lululemon athletica Inc., Manduka
LLC, Merrithew International Inc., New Balance Athletics Inc., Nike
Inc., NoCoast Beer Co., OPTP, Second Earth Pty Ltd., Trimax Sports
Inc., Yoga Direct LLC, Yogamatters Ltd., and YogiKuti Pvt.
Ltd..
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Yoga Mat Market
Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
5.5%
|
Market growth
2024-2028
|
USD 2876.5
million
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
4.91
|
Regional
analysis
|
North America, Europe,
APAC, South America, and Middle East and Africa
|
Performing market
contribution
|
APAC at 31%
|
Key
countries
|
US, China, UK, Germany,
and India
|
Key companies
profiled
|
Adidas AG, Barefoot
Yoga Co., Body Solid Inc., Decathlon SA, Hugger Mugger Yoga
Products LLC Inc., JadeYoga, La Vie Boheme Yoga, Liforme Ltd.,
lululemon athletica Inc., Manduka LLC, Merrithew International
Inc., New Balance Athletics Inc., Nike Inc., NoCoast Beer Co.,
OPTP, Second Earth Pty Ltd., Trimax Sports Inc., Yoga Direct LLC,
Yogamatters Ltd., and YogiKuti Pvt. Ltd.
|
Market Driver
The global yoga mat market is experiencing growth due to the
rising demand for eco-friendly and sustainable yoga apparel and
accessories. Manufacturers prioritize using natural and recyclable
raw materials, such as natural rubber, PER, jute, and cotton, to
minimize environmental impact. Companies like Manduka LLC and
JadeYoga adopt eco-friendly manufacturing processes, using
materials like natural rubber in their products. However, the
increasing demand for natural rubber may lead to higher import
prices, impacting profit margins. To mitigate this, manufacturers
can source raw materials from countries like India and China, which have the capacity to meet global
demand. Consumers prefer eco-friendly mats due to their
sustainability and lower carbon footprint, leading to increased
market growth.
The yoga mat market is experiencing significant growth with
increasing trends towards health and wellness. Bodies and minds
seek tranquility and flexibility, leading to the demand for
high-quality mats. Exercises like yoga, Pilates, and stretching
require proper mats for effective practice. Flexibility and
durability are key considerations for consumers. Techno-grips and
closed-cell mats are popular choices due to their stickiness and
resistance to sweat. Heavier mats offer more stability, while
lighter ones provide portability. Brands offer a variety of colors
and designs to cater to personal preferences. The market is
expected to continue growing, making it an exciting space for
businesses.
Research report provides comprehensive data on
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Report
Market Challenges
- The yoga mat market faces challenges due to price fluctuations
in key raw materials, rubber and plastic. Historical price
volatility in rubber, as seen in China from 2010 to 2014, impacts
manufacturers' profit margins. Major importers like the US and
Canada source natural rubber
primarily from Indonesia,
Malaysia, and Thailand. These countries' decision to reduce
exports in 2017 may increase costs for manufacturers, but the lag
between cost increases and price adjustments can negatively impact
profitability. Price-sensitive consumers prefer affordable mats,
limiting revenue growth for global brands. These factors pose
significant challenges for the yoga mat market.
- The yoga mat market faces several challenges in the current
business environment. Keywords such as fines, regulations, and
trademark issues are becoming more common. For instance, there are
ongoing disputes regarding the use of certain logos and trademarks
in the industry. Additionally, the increasing cost of raw materials
like rubber and PVC is a significant challenge for manufacturers.
Furthermore, the competition is intense, with many players offering
similar products at competitive prices. To stay ahead, companies
must focus on innovation, such as creating eco-friendly mats or
introducing new designs. Another challenge is the growing demand
for affordable mats, which requires manufacturers to find ways to
reduce production costs without compromising quality. Overall, the
yoga mat market is dynamic and requires constant adaptation to
remain competitive.
For more insights on driver and
challenges - Request a sample report!
Segment Overview
This yoga mat market report extensively covers market
segmentation by
- Distribution Channel
- End-user
- 2.1 Personal
- 2.2 Health clubs
- Geography
- 3.1 North America
- 3.2 Europe
- 3.3 APAC
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 Offline- The yoga mat market comprises various
retail formats, including pharmacies, monobrand stores, department
stores, hypermarkets, supermarkets, and specialty stores. Monobrand
stores, owned by product manufacturers, are increasing in number
due to their upscale appearance and direct-to-customer sales
strategy. Specialty stores offer an extensive selection of yoga
mats, while retailers provide product information to attract and
retain customers. Offline distribution channels were impacted by
the COVID-19 pandemic but have since recovered with the initiation
of vaccination campaigns and lifting of lockdowns. Vendors have
also implemented free shipping or shipping cost coverage to boost
sales.
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data
(2017-2021) - Download a Sample Report
Research Analysis
The yoga mat market is experiencing significant growth due to
the increasing awareness of the health benefits of regular
exercise, flexibility, and body positioning. Energy loss during
workouts can be minimized with the use of high-quality mats, such
as those made from natural rubber or PVC-free materials. AI
technology and digital connectivity are also transforming the
industry, offering users personalized yoga assistant apps like
YogiFi that suggest Asanas and track strength and flexibility.
Injuries can be prevented with proper body warm-up and stretching
movements, making yoga mats an essential item for households,
health problems, and fitness activities. Travel yoga mats, jute
mats, and sticky yoga mats cater to various user needs, making them
readily available in hypermarkets & supermarkets and health
& fitness clubs.
Market Research Overview
The Yoga Mat Market encompasses the production, distribution,
and sale of yoga mats worldwide. These mats are essential for
practicing various yoga poses and stretches, providing comfort and
grip. The market caters to diverse consumer preferences, offering a
range of materials such as PVC, rubber, jute, cork, and hybrid
mats. Some mats come with additional features like textured
surfaces, biodegradable materials, and adjustable straps. The
market is driven by factors like increasing health awareness,
growing popularity of yoga, and the convenience of practicing at
home. Consumers seek mats that offer durability, comfort, and ease
of cleaning. The market is expected to grow significantly in the
coming years due to these factors.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Distribution Channel
-
- End-user
-
- Geography
-
- North America
- Europe
- APAC
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio