Yoga Mat Market is expected to reach USD 15.2 billion in 2026 from USD 11.7 billion in 2021 by growing at a CAGR of 5.3% during the forecast period 2021-2026.
A Yoga mat is a type of mat designed exclusively for yoga practice. Due to its anti-slip properties, the Yoga Mat aids practitioners in maintaining a firm grip on the surface. PVC, sometimes known as vinyl, is the most common material used in yoga mats. Some of the more recent, environmentally friendly options include natural and other recycled materials that can be used for the manufacturing of yoga mat markets.
Even after the pandemic has passed, the worldwide yoga and exercise mats market is expected to rise steadily, owing to increased awareness of healthy lifestyles among people all over the world. The global yoga mat market is growing due to an increase in demand from developing economies, an increase in obese populations, and a surge in government initiatives to encourage healthy lifestyles.
The first International Yoga Fest took place on April 20-22, 2016, while the second took place on March 8-9, 2017. The growing popularity of yoga, as well as government measures to promote it, is likely to fuel the market for yoga and exercise mats in the country.
Over the last few years, yoga has grown in popularity. According to yoga data from around the world, yoga is one of the top ten most popular fitness activities. Yoga is one of the "hottest fitness trends" in the globe for 2018, according to the Worldwide Survey of Fitness Trends. Yoga is growing increasingly popular among people all around the world, thus the United Nations General Assembly recognized June 21 as International Yoga Day. The term "yoga" is one of the top 15 most popular in the United Kingdom. The British Wheel of Yoga was recognized by the Sports Council of the United Kingdom as the national regulatory organization for ancient practice in the United Kingdom. The International Yoga Federation estimates that about 300 million individuals worldwide practice yoga. As the popularity of yoga grows, so does the demand for specific equipment and accessories like yoga and exercise mats. As a result, the growing popularity of yoga is expected to fuel the market for yoga and exercise mats.
Suppliers of raw materials are trying to make a profit, and yoga mat manufacturers and OEMs are focusing on boosting prices, yet they are losing money and losing customers. As a result, raw material price fluctuation limits the expansion of the yoga and exercise mats market.
Lululemon Athletica Inc. made a deal by paying US$500 million for an at-home fitness platform, MIRROR which allows users to use mirrors during watching the digital screens. The company made this deal considering consumers will continue to work out at home after the pandemic is over. Lululemon Athletica Inc.'s yearly yoga mat sales are expected to increase as a result of this acquisition.
Due to rigorous government regulations on the use of plastic, businesses are focusing on manufacturing items from eco-friendly and biodegradable materials such as rubber and Thermoplastic Elastomer (TPE).
Major Challenges in the marketplace:
In south Asian countries like India, people don’t think a yoga mat is a necessity to practice yoga because many of them practice at home and these people are not ready to spend a high amount on a yoga mats. Instead, they utilize woven carpets, grass lawns, wooden floors, bathmats, or a large rock, among other things, as long as they serve the same purpose. Furthermore, purchasing a high-quality mat can be costly, and fitness enthusiasts may not be willing to invest that much money at first. This presents a significant difficulty for manufacturers, limiting the market for yoga and workout mats.
Competition in the marketplace:
Along with the demand, competition is also increasing based on product quality and price range. The major market share is held by a few prominent companies. Many sports giants are entering the market with different price ranges and with innovation and developments.
The yoga mats made up of PVC are accounted the highest market share in 2020. PVC is used to make yoga and workout mats because it is less expensive than other polymers, has flexibility and durability, and is easier to clean than other materials. As a result, PVC is the material of choice for making low-cost yoga mats. PVC yoga mats are more commonly used in underdeveloped countries like India, Brazil, Argentina, and Mexico.
By End Use:
In 2020, the personal category had the biggest market share by end-use. Yoga and exercise mats are becoming more popular for at-home workouts, as they are used as heat shields, absorbent wipes, and in garden laying, among other things. Because these mats provide more than just basic functionality, their popularity in the consumer sector has been constantly rising.
Due to increasing consumer perception towards the online purchase, and technological developments, the e-commerce subsegment of distribution channel is becoming more popular and it recorded to gain highest market share in 2020. While supermarkets and hypermarkets follow e-commerce by offering discounts and by promotional activities to attract more customers.
Yoga Mat Market by Geography:
Because of the increased awareness of Ayurveda and yoga among individuals in countries like the United States and Canada, the North American yoga mat market is expected to rise at a healthy CAGR between 2021 and 2026.
The European focus on wellness and health-consciousness has resulted in increased yoga mats for use at home and in yoga studios.
In 2019, Asia Pacific held the highest share of the yoga mat market and is also the fastest growing regional market in the world. Increasing awareness about health and fitness in Asian countries like Japan, China, leads to the growth of the yoga mat market. In the Asia Pacific region, India had the greatest share of the yoga mat market. Yoga originated in India and is now widely practiced around the world.
South Americans are becoming more health cautious and gym memberships were also increased after the pandemic, and increasing obesity is another reason for the growth of the yoga mat market.
The COVID-19 has had a direct and indirect impact on practically all countries in all areas, their economic performance, and all industry distribution networks. However, the pandemic has had a favorable impact on the health sector and its associated business. Due to the pandemic, people became more cautious about their health and fitness and started homely exercises which increased yoga mat sales, which resulted in market growth. In addition, people's reliance on online fitness applications has grown, increasing the demand for yoga mats.
Most gyms and fitness clubs, however, are temporarily closed. This suppresses market expansion to some extent.
Major Key Players in the Market:
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 Aroma Market, By Material
6.1.3 Market Size Estimations & Forecasts (2021-2026)
6.1.4 Y-o-Y Growth Rate Analysis
6.1.5 Market Attractiveness Index
6.2 Aroma Market, By End Use
6.2.1 Health Clubs
6.2.3 Market Size Estimations & Forecasts (2021-2026)
6.2.4 Y-o-Y Growth Rate Analysis
6.2.5 Market Attractiveness Index
6.3 Aroma Market, By Distribution Channel
6.3.1 Supermarket & Hypermarket
6.3.2 Specialty Store
6.3.4 Market Size Estimations & Forecasts (2021-2026)
6.3.5 Y-o-Y Growth Rate Analysis
6.3.6 Market Attractiveness Index
7. Geographical Landscape
7.1 Global Identity Governance and Administration Market, by Region
7.2 North America - Market Analysis (2021 - 2026)
7.2.1 By Country
7.2.2 By Material
7.2.3 By End Use
7.2.4 By Distribution Channel
7.3.1 By Country
22.214.171.124 Rest of Europe
7.3.2 By Material
7.3.3 By End Use
7.3.4 By Distribution Channel
7.4 Asia Pacific
7.4.1 By Country
126.96.36.199 South Korea
188.8.131.52 South East Asia
184.108.40.206 Australia & NZ
220.127.116.11 Rest of Asia-Pacific
7.4.2 By Material
7.4.3 By End Use
7.4.4 By Distribution Channel
7.5 Latin America
7.5.1 By Country
18.104.22.168 Rest of Latin America
7.5.2 By Material
7.5.3 By End Use
7.5.4 By Distribution Channel
7.6 Middle East and Africa
7.6.1 By Country
22.214.171.124 Middle East
7.6.2 By Material
7.6.3 By End Use
7.6.4 By Distribution Channel
8. Key Player Analysis
8.1 Lululemon Athletica Inc (Canada),
8.1.1 Business Description
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 Columbia Sportswear Company (US)
8.3 Adidas AG (Germany)
8.4 Under Armour, Inc. (US)
8.5 Sequential Brands Group Inc. (US)
8.6 Airex AG (Switzerland)
8.7 Jade Yoga (US)
8.8 Manduka LLC (US)
8.9 Hugger Mugger Yoga Products (US)
8.10 Liforme Ltd. (UK)
8.11 Barefoot Yoga Co. (US)
8.12 Fabrication Enterprises, Inc. (US)
9. Market Outlook & Investment Opportunities
List of Tables
List of Figures