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Global Yoga Mat Market Size, Research, 2025 | Industry Report

Yoga Mat Market Analysis Report By Material, By Distribution Channel, By Region And Segment Forecasts From 2019 To 2025

Report ID: MN17619495  |  Published: April 2020  |  No of Pages: 80
Format: Electronic (PDF)  |  Industry: Consumer Goods  |  Publisher: Grand View Research

Industry Insights

The global yoga mat market size was worth USD 11.67 billion in 2018 and is anticipated to grow at a CAGR of 5.8% over the forecast period. The rising popularity of yoga particularly in countries such as Canada, the U.S., and the U.K. is projected to propel the demand for yoga mats. In addition, the health benefits associated with doing yoga is also boosting the market growth. 

According to a report, in 2016, over 36 million Americans practiced yoga. Additionally, the growing number of yoga studios across the globe is driving the demand for the product. Moreover, government authorities are taking up initiatives to promote the Ayurveda, and yoga. For example, in 2017, the Indian government opened over 100 parks for yoga across the country.

U.S. yoga mat market

In 2018, the government invested over INR 1000 crore for developing a medicine system called AYUSH. The fast-growing wellness tourism sector and the addition of ancient techniques in modern education is anticipated to have a significant impact on market growth. According to studies, the number of people doing yoga is increased from 5% in 2008 to 11% in 2018.

Polyvinyl chloride (PVC) type mats have dominated the market in 2018, owing to its low price, and high efficiency. Although, manufacturers are now focusing on producing mats using biodegradable and eco-friendly materials such as thermoplastic elastomer (TPE), and rubber. Due to the strict policies by the government on the usage of plastics, the rubber segment is projected to grow at the highest rate in the coming few years. 

Material Insights

Based on material, the yoga mat market is bifurcated into PVC, TPE, rubber, PE, and cotton/Jute. In 2018, the PVC, held the largest market share of over 40% in the overall market. Owing to its low price, the segment is expected to increase the demand for the product. However, due to the adverse effects of using PVC as it is non-recyclable, this material is anticipated to lose its split in the market. Rubber material is projected to grow at the highest rate from 2019 to 2025. The polyurethane rubber is gaining popularity and is expected to boost the market growth. This rubber is lighter in weight and is easy to recycle. 

Distribution Channel Insights

In 2018, the specialty stores channel held the largest market share in the overall market. The segment is expected to grow substantially over the forecast period, owing to its high presence in countries such as Australia, China, and South Korea. The departmental store is projected to grow at the CAGR of 4.8% during the forecasted period.

Global yoga mat market

Online channel is projected to grow at a rate of 6.4% over the forecast period. This channel has low sales when compared to others; however, the growing network of online platforms along with the increasing penetration of smartphones is expected to propel the segment growth. Moreover, rising number of online retailers such as Amazon, Yogaoutlet.com, and Walmart are projected to support the market growth. 

Regional Insights

In 2018, North America accounted for the largest market share in the overall market. In the region, there is a high demand for the product due to the growing awareness regarding health, and rising number of yoga studios.

The Asia Pacific region is estimated to grow at a CAGR of 7.3% from 2019 to 2025. The supportive initiatives by the government are a major factor driving the growth of the product. Additionally, an increasing number of yoga studios in cities such as Shanghai, Beijing, and other cities in Asia are estimated to foster market growth.

Yoga Mat Market Share Insights

Leading players in the market include, Lululemon; Dragonfly; Manduka; Liforme Ltd.; prAna; Hugger Mugger; Jade Yoga; Alo Yoga, Inc., and Tomuno. Key players are taking various strategic initiatives such as merger & acquisition, new product launch, increasing their research & development expenditure and others to compete with each other. The market poses moderate to high entry barriers to new players. 

Report Scope

Attribute

Details

Base year for estimation

2018

Actual estimates/Historical data

2015 - 2017

Forecast period

2019 - 2025

Market representation

Revenue in USD Million & CAGR from 2019 to 2025

Regional scope

North America, Europe, Asia Pacific, Central & South America & Middle East & Africa

Country scope

U.S., Germany, U.K., India, Australia and Brazil.

Report coverage             

Revenue forecast, company share, competitive landscape, growth factors and trends

15% free customization scope (equivalent to 5 analyst working days)

If you need specific information, which is not currently within the scope of the report, we will provide it to you as a part of customization


Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis on the latest industry trends and opportunities in each of the sub-segments from 2015 to 2025. For the purpose of this study, Million Insights has segmented the global yoga mat market report on the basis of material, distribution channel, and region:

• Material Outlook (Revenue, USD Million, 2015 - 2025)
    • PVC
    • TPE
    • Rubber
    • PE
    • Cotton/Jute

• Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)
    • Specialty Store
    • Departmental Store & Hypermarket
    • Online Channel

• Regional Outlook (Revenue, USD Million, 2015 - 2025)
    • North America
        • U.S.
        • Europe
    • Germany
        • U.K.
    • Asia Pacific
        • India
        • Australia
    • Central & South America
        • Brazil
    • Middle East & Africa (MEA)

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