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“The yoga and exercise mats market is projected to grow at a CAGR of 5.3% from 2021 to 2026, in terms of value.”
The global yoga and exercise mats market size is projected to grow from USD 11.7 billion in 2021 to USD 15.2 billion by 2026, at a CAGR of 5.3% during the forecast period 2021 to 2026. Rising popularity of yoga, an increase in the rate of obesity, and an increase in the prevalence of lifestyle diseases across the globe is expected to accelerate the growth of the yoga mat market.
“The health club end-use segment is projected to grow at the highest CAGR during the forecast period.”
Based on end-use, the health club segment is projected to grow at the highest CARG during the forecast period. A health club is a place that keeps exercise equipment for the purpose of physical exercises, muscle strengthening, and general physical workouts. In business terms, it is a company providing people access to controlled environmental space, along with services focused on physical fitness and health. In recent years, the number of health clubs and fitness services has risen globally due to an increase in health-conscious individuals. According to the International Health, Racquet & Sportsclub Association (IHRSA) Global Report, in 2019, the revenues in the fitness industry totaled to USD 94 billion, estimating that the health clubs may reach 230 million members by the end of 2030. The US Bureau of Labor Statistics (BLS) also predicts the number of fitness trainers and instructors will grow by 13% from 2018 to 2028. These developments suggest that the growth of the fitness industry will also lead to a rise in the number of health clubs globally.
“The specialty store distribution channel segment is projected to grow at the highest CAGR during the forecast period.”
Based on distribution channel, the specialty store segment is projected to grow at the highest CARG during the forecast period. A specialty store is a retail store that focuses on offering specific product categories rather than retailers who sell an array of consumer goods. This store focuses on providing an assortment of brands, styles, and models in a specific category of goods. For instance, Lululemon Athletica’s retail stores are typical specialty stores that focus on athletic wear and fitness products as compared to Walmart (hypermarket), which focuses on a wide category of products. Fitness products, such as yoga and exercise mats, are abundantly available in a specialty store, as this store focuses more on increasing their sales, in terms of volume, as compared to supermarkets.
“The other materials segment is projected to grow at the highest CAGR during the forecast period.”
Based on material, the others segment is projected to grow at the highest CARG during the forecast period. Other materials used for producing yoga and exercise mats include cotton and jute. These materials are plant fibers and are extracted from natural sources. Consumers are switching to use eco-friendly products in their daily lives. As a result, cotton and jute yoga and exercise mats are also being preferred over polyvinyl chloride or polyurethane mats. Cotton and jute yoga and exercise mats are breathable, durable, and can be washed easily as compared to other mats.
“North America is projected to grow the highest CAGR in the yoga and exercise mats market during the forecast period.”
North America is projected to grow at the highest CAGR in the yoga and exercise mats market from 2021 to 2026. The increasing popularity of yoga and the rising obesity rate in the region are driving the demand for yoga and exercise mats in North America. The North America region segment in this study comprises the US, Canada and Mexico. A joint study research study conducted by the University of Columbia and Harvard reported that if the current trend continues, more than 50% of the adult population in the US would be obese by 2050. The chief causes of obesity include unhealthy food intake, lack of physical activity, and sedentary lifestyles. These factors are creating a favorable environment for the increased adoption of yoga and exercises to maintain a healthy lifestyle.
Profile break-up of primary participants for the report:
- By Company Type: Tier 1 – 30%, Tier 2 – 35%, and Tier 3 – 35%
- By Designation: C-level Executives – 15%, Directors – 20%, and Others – 65%
- By Region: Asia Pacific – 35%, Europe – 25%, North America – 25%, Middle East - 10%, and South America – 5%
Furthermore, as a part of the qualitative analysis of the yoga and exercise mats market, the research provides a comprehensive review of drivers, restraints, opportunities, and challenges influencing the growth of the market across the globe. It also discusses competitive strategies adopted by the leading market players such as Lululemon Athletica Inc (Canada), Columbia Sportswear Company (US), Adidas AG (Germany), Sequential Brands Group Inc. (US), Airex AG (Switzerland), 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), 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.
Research Coverage:
The report defines, segments, and projects the size of the yoga and exercise mats market based on material, distribution channel, end use and region. It strategically profiles the key players and comprehensively analyzes their market share and core competencies. It also tracks and analyzes competitive developments such as acquisitions and agreements undertaken by them in the market.
Reasons to buy the Report:
The report is expected to help the market leaders/new entrants in the market by providing them the closest approximations of revenue numbers of the yoga and exericse mats market and its segments. This report is also expected to help stakeholders obtain an improved understanding of the competitive landscape of the market, gain insights to improve the position of their businesses, and make suitable go-to-market strategies. It also enables stakeholders to understand the pulse of the market and provide them information on key market drivers, restraints, challenges, and opportunities.