Yoga Mat Market Players, Business Opportunities, Strategies, and Applications by 2030
Yoga Mat Market Scope
Market
Research Future (MRFR) believes that the yoga mat market can touch USD 11.78
Billion by the year 2030. It is also likely that the global market can capture
a CAGR of 5.40% between 2022 and 2030.
Major Drivers and Challenges
Yoga
is deemed as a highly effective way of maintaining the health of body and mind.
A variety of yoga mats in different materials are available in the yoga
mat market and are emerging as essential accessories among the burgeoning
pool of yoga practitioners worldwide. The alarming growth in obesity cases coupled
with the rapidly mounting health consciousness among the mass add to the market
strength. Rise in obesity is bringing along with itself a number of health
disorders including hypertension, sudden cardiac arrest, diabetes, and
hypotension. As a result, with the aim to lose weight, improve blood
circulation and reduce stress, people are increasingly participating in yoga,
which should further bolster the sales of yoga mats.
Escalating
number of members in yoga studios as well as fitness clubs indulging in yoga
and meditation has proved to be favorable as well. Moreover, manufacturers are
progressively focusing on developing yoga mats that offer more comfort and
convenience, while offering a wide range of materials to the consumers. This
could be crucial for manufacturers in gaining the upper hand, in terms of
competition while also inducing major market growth across the globe.
Online
workout classes online, especially on popular social media sites like Facebook,
Instagram and YouTube have raised the popularity of yoga among consumers. These
platforms also offer consumers knowledge about the latest types of yoga mats
available in the market. Plus, the surging prominence of e-commerce channels
selling exercise-based accessories like yoga mats can be favorable for the
global market in the years ahead.
Market Segmentation
Type,
end-users, and distribution channel are the key segments outlined in the
report, in a bid to extensively detail the global market for yoga mats.
The
types of yoga mats available in the market are PVC, TPE, cotton, and rubber.
Major
industry end-users are children and adults.
Distribution
channels that sell yoga mats are store-based {Specialty Stores, Supermarkets
& Hypermarkets, Convenience Stores, and more} as well as non-store based.
Leading Contenders
The
prominent key
yoga mat market players are Jiangxi Lveten Plastic
Industry Co., Ltd. (China), Hefei Bodyup Sports Co., Ltd. (C hina), Hugger
Mugger (US)-Tapas, Eco-Rich, OutdoorGearLab LLC (US)-Prana Revolution, Shrine
Sports Distributors (India)-Stag, Jade Yoga (US), Liforme Ltd (UK), Mandala
Yoga Mat (US), Aerolite (India), Shanghai Eversuccess Industries Co., Ltd
(China), Earth Elements, Shenzhen Haifuxing Technology Co., Ltd. (China)-HFX,
Elysian (Taiwan), Kolckmann GmbH (Germany)-Ako Yoga, Microcell Composite
Company (Taiwan), Shanghai Fitnessourcing Inc. (China).
Majority
of these companies are focused on either creating new products or subject the
existing product portfolio to a series of innovations to improve the quality or
add new features. Another significant marketing tactic employed by these firms
includes expanding their distribution channels to bolster visibility among a higher
number of consumers. Other than this, given the mounting concerns with respect
to the degradation of the environment and the growing consumer awareness in
this regard, players are introducing eco-friendly yoga mats in the market.
For
instance, in April 2021, Brentwood Home is set to launch its first ever organic
yoga mat, the only to be Climate Neutral Certified. The eco-friendly yoga mat
complements their range of yoga pillows and is made using completely organic
and natural cotton coupled with a non-slip line of completely natural latex
that provides a strong grip. Apart from this, the yoga mat is absorbent,
comfortable, sustainable, foldable, non-toxic, and washable.
Regional Study
The
yoga mat industry has been regionally considered for Asia Pacific/APAC, North
America, Europe and also RoW/rest of the world.
With
top-notch performance and significant revenue generation, Asia Pacific has
secured the lead in the global market. The region will continue to garner
highest traction throughout the conjectured period, given the expanding pool of
yoga practitioners. Sales of yoga mats are booming in China, India, Australia,
and Japan, in line with government as well as several fitness clubs putting
efforts to encourage yoga. Renowned players such as Shenzhen Haifuxing
Technology Co., Ltd., Shrine Sports Distributors, Shanghai Eversuccess
Industries Co., Ltd and Aerolite are present in the region, and these companies
are known for their wide variety of product offerings with application in
different exercises.
North
America has been gaining speed in the global market at a stunning pace, because
of the surging burden of several lifestyle diseases that has fostered the
importance of fitness and health among consumers. This, in turn has led to
higher adoption of yoga and ultimately yoga mats. It expected that the US
market for yoga should touch USD 12 billion by 2021, which indicates the bright
prospects for yoga mats in the following years.
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