Yoga Mat Market Overview, Qualitative Insights, Key Enhancement, Share Analysis To 2030
Yoga Mat Market Overview:
Yoga has gained immense popularity all over the world in the
recent decades and along with it the yoga mat market has registered
unprecedented growth. Ranging from PVC to natural fibers yoga mats are now
available in various materials, sizes, colors and textures to cater to the
widening demand for the appropriate surface for practicing the ancient
practice. Due to its wellness benefits, the yoga industry has found a strong
foothold so much so that in 2018, yoga has made it to the top of web search
results and in 2019 celebration of yoga day became a global affair. Rising
incidence of lifestyle related diseases has urged people to find long term
solutions that do not involve medication but preaches mindfulness and raises
personal well-being through exercise. statistics point out that by 2020 there
will be an estimated 55 million yoga practitioners in the US alone. This
increased interest has acted as a potent driver for Yoga
Mat Market Size is projected to reach USD 11.78 Billion by
2030 at a CAGR of 5.40% from 2022-2030.
Regional Analysis:
Regionally, the yoga mat market is subdivided into Asia
Pacific, North America, Europe and Rest of the World.
Asia Pacific is known to have held the largest share in the
yoga mat market as the practice originates in India and a large number of yoga
practitioners are based in India. Presence of various yoga mat market players
such as Aerolite, Shenzhen Haifuxing Technology Co., Ltd., Shanghai Eversuccess
Industries Co., Shrine Sports Distributors etc. will add traction to the market
growth.
However, after the 50s, yoga made major inroads in the west
which has literally been swayed by the health benefits that the practice
offers. Therefore, a considerable share of the yoga mat market will be held by
North America. The U.S. alone accounts for yoga industry that is expected to be
worth nearly USD 12 billion by 2020. In Europe as well as Rest of the World,
the yoga mat market is expected to perform well as yoga practice is becoming
more common in all parts of the world and yoga mat is an integral part of
performing the asanas to perfections.
Competitive Landscape:
Some of the key players of the yoga mat market include Prana
Revolution Kolckmann GmbH, Ako Yoga Hugger Mugger, Tapas, Eco-Rich, and Earth
Elements Shenzhen Haifuxing Technology Co., Jiangxi Lveten Plastic Industry
Co., Ltd., HFX Shrine Sports Distributors, Shanghai Eversuccess Industries Co.,
Ltd, Hefei Bodyup Sports Co., Ltd., Liforme Ltd, Stag Jade Yoga, Microcell
Composite Company, Elysian, Shanghai Fitnessourcing Inc. etc.
Segmentation:
The Yoga
Mat Market Overview has been segmented on the basis of type, end
user and distribution channel.
On the basis of type, yoga mat market is segmented based on
the material used in the making of the mat. As such the classification includes
PVC, rubber, TPE and cotton yoga mats. In 2018, the PVC yoga mat segment
accounted for the largest revenue share of around 4% and is expected to hold
its dominant position over the forecast period. However, growing concern over
the fact that PVC is non-recyclable and therefore bad for the environment can cause
some setback to the growth of the PVC yoga mat market. Rubber and TPE yoga mats
are also popular among consumers due to favorable qualities like resilience,
durability, elasticity, abrasion resistance etc. Cotton yoga mats segment is
expected to register the highest CAGR over the forecast period due to the
demand for ecofriendly products as well as the availability of such products by
various yoga mat market players. The awareness that yoga is meant to be
performed on more naturally derived products will also contribute to the rising
popularity of cotton yoga mats.
Segmentation on the basis of end users includes adults and
children. The adult segment is by far the larger segment and is anticipated to
register a higher CAGR as more and more health aware adults are practicing yoga
around the world due to the long term health benefits of the ancient art. As
more adults come to practice and experience the goodness of yoga, they are
expected to encourage their children to start yoga at a young age to reap greater
benefits and thus indirectly adding growth impetus to the children yoga mat
segment.
Yoga mat market is classified based on distribution channel.
A majority of the yoga mat market share is held by store based distribution
channel segment in 2018 as consumer prefer to buy yoga mats from stores where
they can first physically feel the mat before making a decision. However, due
to the proliferation e-commerce, the non-store based distribution channel
segment is expected to register a higher CAGR as they are often able to offer a
greater range of products and often for cheaper.
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