The global yoga and exercise mats market was valued at USD 8984 million in 2020 and is projected to reach USD 10430 million by 2025, growing at 3.0% cagr during the forecast period. This growth can be attributed to the rising popularity of yoga and an increase in the prevalence of lifestyle diseases across the globe.
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The COVID-19 has had a direct and indirect impact on nearly all the countries across regions, their economic performance, and the distribution channels of all the industries. However, the health sector and its affiliated market have witnessed a positive impact due to the pandemic. Yoga mat market is a part of fitness and healthcare products markets. The pandemic has not negatively impacted the global yoga mats market.
Nowadays people are becoming more creative and introducing yoga in their exercise routines. According to numerous consumer psychologists, people around the world have been purchasing items based on three needs: to protect, entertain, and connect. Furthermore, the global yoga mats market is projected to witness steady growth, even after the pandemic subsides, majorly due to the increase in awareness regarding the healthy lifestyle among people around the world.
From the last few years the popularity of yoga is increasing mainly due to its numerous health benefits. Yoga has been consider as one of the most popular fitness activities in the world. Yoga is becoming popular worldwide and on June 21 the international yoga day is celebrated. The word “yoga” is among the 15 most popular words in the UK. This increase in popularity has led to increase in various accessories related to it which includes yoga mat. Yoga mat act as a insulation between the human body and the ground. This prevents any loss of heat, charge or energy from the body to the ground and thereby provides a thermo-insulation. Due to anti-slipping nature of yoga mat, it helps the person to keep strong hold on the surface Hence, the rise in popularity of yoga is projected to drive the growth of the yoga mat market.
There are various raw material used for manufacturing yoga mats such as polyvinyl chloride (PVC), thermoplastic elastomer (TPE), polyurethane (PU), and Natural Rubber, among others. Polyvinyl chloride (PVC), thermoplastic Elastomer (TPE), and Polyurethane (PU) are the polymers derived from crude oil. Hence, the yoga mat industry is directly dependent on crude oil prices. There are always fluctuation in the prices of crude oils and it has negative impact on the whole supply chain of yoga mat. Raw material suppliers are struggling to earn a profit, and yoga mat suppliers and OEMs are focusing on raising prices, however, suffering losses and a decrease in customer base. Hence, volatility in raw material prices acts as a restraint in the growth of the yoga mat market.
Many government bodies around the world is encouraging manufacturers to invest in environment-friendly components for developing yoga mats. In order to align with stringent government regulations, yoga mat manufacturers are shifting their focus from utilizing PVC materials to various eco-friendly material such as cotton, jute and many others. Companies such as Manduka, Prana, Yoloha, Jade Yoga, and Tomuno, among others, are focusing on utilizing components that dispense low carbon emission levels during the manufacturing process. For instance, leading yoga mat companies, such as Dragonfly Yoga, are diverting their investments toward developing eco-friendly and lightweight yoga mats to offer biodegradable and eco-friendly solutions.
Yoga mat provides good support and grip for the practitioners but some people does not feel its need. Instead, they use alternatives, such as woven carpets, grass lawns, wooden floor, bathmat, or a big rock, among others, as far as they meet the same purpose. In addition, buying a premium quality mat can be costly, and fitness enthusiasts may not be prepared to spend that amount right at the beginning. This poses a major challenge for manufacturers, impacting the growth of the yoga mat market.
The personal segment accounted for the largest market share in 2019 by end-use. Yoga mats offers several benefits and can be used as heat protectors, absorbing wipes, in garden laying, and other recreational activities. Home workout activities are increasing and yoga is preferred by many people around the world. Yoga mats offer more than basis functionalities, due to which their consumption has been steadily increasing in the consumer market
The e-commerce segment accounted for the largest share of the yoga mat market in 2019 based on distribution channel. Businesses have been able to reach their potential customers by setting online stores where the products offered by manufacturers can be accessed globally. This channel includes online marketplaces, such as Amazon, Walmart, and eBay, along with third-party e-retailers who provide business merchandising online. Fitness products, such as yoga mats, witnessed a high demand due to the COVID-19-enforced lockdown on health clubs and gymnasiums. This has led to an increase in the expansion of e-commerce distribution channels and demand for fitness products.
The Polyvinyl Chloride (PVC) segment accounted for the largest share of the yoga mat market in 2019 based on material. Many deveping countries such as India, Brazil, Argentina, and Mexico uses PVC to manufacture the yoga mats. PVC offers several benefits such as flexibility, durability, easily washable and is cheaper than other polymers
The largest share of the yoga mat market in 2019 was held by the Asia Pacfiic region. The large market share is due to the increasing popularity of yoga in countries such as China, Japan, Thailand, and Australia, among others. The government of India has also undertaken various initiatives to promote the benefits of yoga in the country. The popularity of yoga, along with the increase in government initiatives to promote yoga, is expected to drive the yoga mat market in the country.
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Lululemon Athletica Inc (Canada), Columbia Sportswear Company (US), Sequential Brands Group Inc. (US), Jade Yoga (US), Manduka LLC (US), Hugger Mugger Yoga Products (US), Liforme Ltd. (UK), Barefoot Yoga Co. (US), Fabrication Enterprises, Inc. (US), Quanzhou Sansheng Rubber Plastic Foamed Shoes Materials Co., Ltd. (China), adidas AG (Germany), and La Vie Boheme Yoga (US) are some of the leading players operating in the yoga mat market.
Report Metric
Details
Market Size Value in 2020
USD 8,984 million
Revenue Forecast in 2025
USD 10,430 million
CAGR
3.0%
Market Size Available for Years
2018–2025
Base Year Considered
2019
Forecast Period
2020–2025
Units considered
Value (USD Million), Volume (Thousand Unit)
Segments
Material, Distribution Channel, and End Use
Geographies Covered
North America, Asia Pacific, Europe, the Middle East, and South America
Companies profiled
Lululemon Athletica Inc (Canada), Columbia Sportswear Company (US), Sequential Brands Group Inc. (US), Jade Yoga (US), Manduka LLC (US), Hugger Mugger Yoga Products (US), Liforme Ltd. (UK), Barefoot Yoga Co. (US), Fabrication Enterprises, Inc. (US), Quanzhou Sansheng Rubber Plastic Foamed Shoes Materials Co., Ltd. (China), adidas AG (Germany), La Vie Boheme Yoga (US) (US), Accessory Arcade (India), Eupromed S.R.O. (Czech Republic), Ningbo Mylon Rubber & Plastic Co., Ltd. (China), Winboss International Co., Ltd (Taiwan), Xiamen Sanfan Sports Products Co, Ltd. (China), Alo Yoga (US), TEGO (India), Ecoyoga (US), Shenzhen Haifuxing Technology Co., Ltd (China), Shanghai Fitness Sourcing Inc. (China), Fitness Mats (India), and Yoga Direct LLC (US), among others
This research report categorizes the yoga mat market based on technology, application and region and forecasts revenues as well as analyzes trends in each of these submarkets.
How big is the Yoga Mat Market?
Yoga Mat Market worth $10,430 million by 2025.
What is the growth rate of Yoga Mat Market?
Yoga Mat Market grows at a CAGR of 3.0% during the forecast period.
What is yoga mat?
Yoga mat is a type of mat that is made specifically for practicing yoga. It provides a non-slip and cushioned surface, which makes it easier to perform yoga asanas safely and comfortably.
What are the different materials used in yoga mats?
Natural Rubber, Polyvinyl Chloride, Polyurethane, Thermoplastic Elastomer, Cotton, and Jute are different materials used in yoga mats.
Which are the key countries expected to fuel the growth of yoga mat market?
The yoga mat market is expected to grow the fastest in China, followed by Saudi Arabia
What are the key driving factors for the yoga mat market?
Rise in popularity of Yoga, increase in the prevalence of lifestyle disease, increase in the rate of obesity are expected to drive the yoga mat market.
What are the major challenges which may hinder the growth of the yoga mat market?
Availability of alternatives to yoga mats is the major challenge that is expected to hinder the growth of the overall yoga mat market. .
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