Yoga Mat Industry’s Outlook Report from 2022 to 2027

Description

Classification of Yoga Mats

There are three main types of yoga mats this includes traditional, synthetic, and closed-cell.

Traditional yoga mats are made of natural materials like cotton, wool, or bamboo. They are the most durable and typically used for more challenging positions such as Downward Dog and Camel pose.

The synthetic yoga mats are made of polyurethane and it softer than  traditional PVC yoga mats. They are perfect for beginners and those who do not want to damage their flooring.

Closed-cell yoga mats are made from synthetic materials that have almost the cell structure. This made the closed-cell yoga mats extremely resilient and durable. They are used for advanced poses such as Headstands and Handstands.

Global Market for Yoga Mats

The global market for yoga mats is projected to grow at a CAGR of 7.41% during the year 2018 to 2025. Yoga mats are used for various yoga positions such as stretching, meditation, and physical exercises. The increasing popularity of yoga is attributed to the increasing awareness of its health benefits to the people.

The Asia-Pacific region is expected to dominate the global market of yoga mats during the forecast period and that is because of its large population and an increasing number of yoga practitioners. China is also one of the fastest-growing countries in the Asia-Pacific region because of its increasing number of yoga practitioners in recent years. North America is also expected to grow at a moderate pace during the forecast period due to its high consumer spending on health and fitness products.

North America Yoga Mat Market
The North American yoga mat industry is expected to grow at a CAGR of 7.5% from 2016 to 2021, it is due to the increasing popularity of yoga and its health benefits. More people are looking for ways to improve their overall health and well-being by practicing yoga. The growth in the yoga market is due to the growing trend of using outdoor mats, especially during summertime.

In North America, the market is dominated by the US, followed by Canada. The US market is expected to account for over 60% of the total market volume in the year 2021. The companies that are key players in the cork yoga mat in market in North America are Nike, Adidas, and Somdeva.

Europe Yoga Mat Market
The European yoga mat industry is projected to grow at a CAGR of 6.5% during the forecast period from the year 2016 to 2021. The factors attributed to this growth were the increasing demand for health and wellness. Another factor was the increase in awareness about the benefits of yoga and the preventive health measures for individuals who are practicing it.

Europe is the largest yoga market in the world, with revenues estimated to be around US$2.9 billion in the year 2021. The European countries that are attributing to the growth of the yoga mat market are Germany (27%), France (24%), Italy (19%), and Spain (15%). These five countries are expected to account for 88% of total sales in 2021.

Yoga mats are mainly sold online or through physical stores. Online sales are projected to grow higher CAGR than physical sales due to the growing urbanization and increasing e-commerce platforms among consumers. However, physical store sales are expected to remain dominant throughout the forecast period because of their ability to provide customers with their service and access to a wide range of products.

Asia-Pacific Yoga Mat Market
The Asia-Pacific yoga mat market is expected to grow at a CAGR of 6.5% during the year 2017 to 2021 and that is according to a new report by the Global Research & Development (GRD). The main reason for the growth of this market is the increasing awareness about the health benefits of yoga. Also, another factor that attributed to its growth was the increasing demand for suede yoga mats from different industries such as hospitality, home healthcare, fitness centers, and musculoskeletal health centers.

In China, the yoga mat market is estimated to be worth US$149 million in 2017 and is projected to reach US$336 million by the year 2021. The yoga market in India is estimated to be worth US$62 million in 2017 and is projected to reach US$129 million by 2021. Japan is also expected to exhibit significant growth in the Asia-Pacific yoga mat market over the next five years.

Latin America Yoga Mat Market
The Latin American Yoga Mat market is expected to grow at a CAGR of 6.7% during the forecast period (2018-2024). The growth is driven by rising demand for yoga in the region and the increasing adoption of yoga among people.

Some of the key factors that are driving the growth of the Latin American Yoga Mat market are: growing awareness about yoga among people, increasing popularity of yoga, increase in investment in wellness and fitness, and increasing spending on sports and leisure activities.

The major players in the Latin American Yoga Mat market are leading brands such as Nike, Lululemon, Adidas, and Puma. These yoga mat companies are focusing on expanding their operations into new geographies to capture market opportunities.

Conclusion
The yoga mat industry is expected to grow at a CAGR of 6.5% during the 2022-2027 period, reaching a value of $2.24 billion by 2027. This growth is due to the increased demand for yoga mats in the United States, India, and China. In addition, the trend toward more intense and vigorous styles of yoga is also contributing to the increased demand for yoga mats.