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.
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.
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The PVC segment to lead the trail by 2026-
Based on material, the PVC segment contributed to more than one-third of the global yoga mat market share in 2018, and is expected to rule the roost by the end of 2026. These mats are light in weight and are highly resistant to moisture, which make them an ideal base for practicing yoga. In addition, its low cost and enhanced comfort offered during yoga practice fuels the growth of the segment. Simultaneously, the cotton/jute segment would cite the fastest CAGR of 7.9% from 2019 to 2026. This is due to rise in demand for yoga mats fabricated from biodegradable and eco-friendly materials.
The household segment held the largest share in 2018-
Based on end-user, the household segment held the major share in 2018, generating nearly three-fifths of the global yoga mat market. Online yoga classes for practicing yoga, and their time flexibility and comfort, drives the growth of the segment. At the same time, the yoga and fitness club segment would showcase the fastest CAGR of 7.6% throughout the forecast period, owing to rise in consumer awareness about the health benefits of practicing yoga, and online pricing of memberships including special discounts, priority scheduling, or access to exclusive services of professional classes.
Asia Pacific to rule the roost in terms of revenue, North America to follow-
Based on geography, the market across Asia-Pacific accounted for more than one-third of the global yoga mat market revenue in 2018 and is projected to dominate throughout the study period. In addition, the region would register the fastest CAGR of 8.1% by 2026. This is attributed to the availability of yoga classes in this region, and rise in popularity of hybrid forms of yoga. On the other hand, North-America contributed to the second highest share of the global market.
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Leading market players-
- Jade Fusion
- Lululemon Athletica
- Hugger Mugger
- Aurorae Yoga, LLC
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