Yoga mat market size expected to grow by US$ 2.87 billion between 2024 and 2028; further innovation in yoga accessories will drive premiumization of products, Technavio

new york, June 24, 2024 /PRNewswire/ — The size of the global yoga mat market is US$2.87 billion According to Technavio, yoga products for yoga are expected to grow rapidly from 2024 to 2028. The market is expected to grow at a CAGR of over 5.5% during the forecast period. Product premiumization due to innovation in yoga accessories is driving the market growth, with a trend towards focus on the use of 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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Market Drivers

The global yoga mat market is witnessing growth due to the increasing demand for eco-friendly and sustainable yoga apparel and accessories. Manufacturers are prioritizing the use of natural and recyclable raw materials such as natural rubber, PER, jute, and cotton to minimize their impact on the environment. Companies such as Manduka LLC and JadeYoga employ eco-friendly manufacturing processes and use materials such as natural rubber in their products. However, the increasing demand for natural rubber has led to higher import prices, which can impact profit margins. To mitigate this, manufacturers can source raw materials from countries such as: India and Chinahas the capacity to meet the global demand. Consumer preference for eco-friendly mats due to their sustainability and low carbon footprint is driving the market growth.

The yoga mat market has seen significant growth amid the growing trend towards health and wellness. The mind and body seek calm and flexibility, which calls for high-quality mats. Exercises like yoga, pilates, and stretching require the right mat to be effective. Flexibility and durability are key considerations for consumers. Techno-grip mats and closed-cell mats are popular as they are sticky and sweat-resistant. Heavier mats offer more stability, while lighter mats are easier to carry. Brands offer a variety of colors and designs to suit individual preferences. The market is expected to continue to grow, making it an exciting area for business.

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Market Challenges

• The yoga mat market is facing challenges due to price fluctuations of its main raw materials, rubber and plastic. Historic price fluctuations of rubber have led to China The volume of imported cars between 2010 and 2014 affected the profit margins of manufacturers. Canada The main source of natural rubber is Indonesia, Malaysiaand ThailandThe decisions of these countries to reduce exports in 2017 are likely to increase costs for manufacturers, while the lag between cost increases and price adjustments may adversely affect profitability. Price-sensitive consumers will prefer affordable mats, limiting revenue growth for global brands. These factors pose major challenges for the yoga mat market.
• In the current business environment, the yoga mat market faces several challenges. Keywords such as fines, regulations, and trademark issues are becoming common. For example, the industry continues to face disputes over the use of certain logos and trademarks. In addition, the rising cost of raw materials such as rubber and PVC is a major challenge for manufacturers. Moreover, competition is fierce, with many companies offering similar products at competitive prices. To stay ahead, companies need to focus on innovation, such as creating eco-friendly mats and introducing new designs. Another challenge is the growing demand for affordable mats. Therefore, manufacturers need to find ways to reduce production costs without compromising on quality. Overall, the yoga mat market is dynamic and requires constant adaptation to remain competitive.

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Segment Overview

This Yoga Mats market report covers market segmentation extensively.

1. Distribution Channel

• 2.1 Individuals
• 2.2 Health Club

• 3.1 North America
• 3.2 Europe
• 3.3 Asia-Pacific
• 3.4 south america
• 3.5 middle east and Africa

1.1 Offline The yoga mat market has various retail formats including pharmacies, monobrand stores, department stores, hypermarkets, supermarkets and specialized stores. Monobrand stores owned by product manufacturers are growing in number due to their premium look and direct-to-customer selling strategy. Specialized stores offer a wide selection of yoga mats, while retailers provide product information to attract and retain customers. Offline distribution channels were affected by the COVID-19 pandemic, but have recovered with the launch of vaccination campaigns and the lifting of lockdowns. Vendors are also implementing free or covered shipping offers to boost sales.

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Research Analysis

The yoga mat market has seen significant growth due to the growing awareness that regular exercise, flexibility and body position are good for health. Using high-quality mats made from natural rubber and PVC-free materials can help minimize energy loss while exercising. AI technology and digital connectivity are also transforming the industry, providing users with personalized yoga assistant apps such as YogiFi, which suggest asanas and track strength and flexibility. Proper body warm-up and stretching exercises can prevent injuries, making yoga mats an essential item for households, health issues and fitness activities. Travel yoga mats, jute mats and sticky yoga mats cater to the needs of different users and are easily available in hypermarkets and supermarkets, as well as health and fitness clubs.

Market Research Overview

The yoga mat market encompasses the production, distribution, and sale of yoga mats across the globe. These mats are essential for practicing various yoga poses and stretches, providing comfort and grip. The market caters to diverse consumer preferences and offers a variety of materials such as PVC, rubber, jute, cork, and hybrid mats. Some mats also come with additional features such as textured surfaces, biodegradable materials, and adjustable straps. The market is driven by factors such as growing health consciousness, growing popularity of yoga, and the convenience of practicing at home. Consumers are looking for mats that offer durability, comfort, and ease of cleaning. Owing to these factors, the market is expected to grow significantly in the coming years.

table of contents:

1. Executive Summary
2. Market situation
3. Market size assessment
4. Past market size
Five Forces Analysis
6. Market Segmentation

• Distribution Channel
• End-user
• Geography
• North America
• Europe
• Asia Pacific
• south america
• Middle East and Africa

7 Customer Environment
8. Geographical Landscape
9 Drivers, Challenges and Trends
10. Company Status
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Its research and analysis focuses on emerging market trends, providing actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market position.

With over 500 expert analysts, Technavio’s report library contains over 17,000 reports covering 800 technologies across 50 countries. The company’s client base comprises of businesses of all sizes, including over 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify existing and potential market opportunities, and evaluate their competitive position within a changing market scenario.

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Source Technavio