Global Yoga Mat Market Size, Trends & Analysis - Forecasts to 2026 By Type of Material (Natural Rubber, Polyvinyl Chloride, Polyurethane, Thermoplastic Elastomer, and among Others [cotton and jute]); By Distribution Channel (E-commerce, Supermarket & Hypermarket, and Specialty Store); By End-Use (Personal, and Health Care); By Region (North America, Europe, Asia Pacific, MEA, and CSA); End-User Landscape, Vendor Landscape, and Company Market Share Analysis & Competitor Analysis
Yoga Mat Market Insights
The global market for yoga mat will be driven at the strongest annual compound growth rate over the estimated timeframe (2020-2026). Yoga mats are specifically designed to prevent hands and feet from severe injuries while practicing yoga exercise. Yoga mats are available in different shapes, sizes, materials, and color according to customer needs. Owing to increased health awareness and growing focus on fitness from the past few years, yoga exercise has gain popularity around the globe. The demand for yoga equipment and accessories especially in North America and the Asia Pacific regions has generated huge market momentum in recent times. Changing lifestyle with raising healthcare disorders has pulled up the consciousness about the benefits of yoga in health which end up creating demand for the product in various end-users. Also, increasing yoga studios in developed regions is further generating demand and revenue for the product.
With the rising acceptance of yoga, many key players are collaborating to bring a more eco-friendly and biodegradable product at a low expense to target more users. Market players are also taking benefits from raising e-commerce platforms by promoting their product on digital retails stores to expand their buyer base. However fluctuating price range and widespread use of substitutes have always been a hurdle for the global yoga mate market.
Yoga Mat Market: By Type of Material
Natural Rubber, polyvinyl chloride, polyurethane, thermoplastic elastomer, and among others such as cotton and jute are types of materials used to manufacture yoga mat globally. Since 2018, the polyvinyl chloride segment dominated the yoga mat material market and is anticipated to show a similar business in the aforementioned duration. The affordability of the product is the prime driver of the PVC segment market. However, due to increasing environmental concerns, non-recyclable property, and hazardous chemical content of the material is expected to lose a major chunk of the target audience. Rubber is the second-fastest revenue builder material after PVC. High resistance from UV and easily washable properties of rubber material is driving its market in recent times.
Yoga Mat Market: By Distribution Channel
Distributor channels of the yoga mat market can be studied as a specialty Store. e-commerce, and supermarket & hypermarket. A major percentage of yoga mats are sold through specialty stores or retailers. Therefore, specialty stores hold the largest market for the distribution channel of the product. Consumer prefers to verify the quality and variety of the product before buying. The chances of bargaining and brand comparison can be easily done on the specialty stores hence engaging more customer base in the offline distributor market.
Online store channels are smaller as compared to offline channels but they are growing at a significant rate owing to higher product penetration with raising usage of smartphones. 24*7hour product availability, great product variety at different price and brands is triggering the demand for online channels globally
Yoga Mat Market: By End Use
Personal and Health Care are the two divisions of the end-user market of the yoga mat. The personal segment dominated the 2018 market of yoga mat and with the rising popularity of yoga benefits in health, the market for yoga mat is expected to proliferate even further. Manufacturers are also focusing their business on offering non-toxic, eco-friendly, and phthalate-free mats to make it more appealing for personal use.
Yoga Mat Market: By Region
Asia-Pacific generated the largest revenue share of the yoga mat market in the recent past and the presence of various key market players of the product is anticipated to dominate the market even further. A supportive initiative by the government to promote yoga and its benefits in day to day life is fuelling the product market in the region. Furthermore, an increasing number of yoga studios in many china cities is estimated to uplift the yoga participant ratio along with product demand in the coming years.
Yoga Mat Market Share and Competitor Analysis
The key players operating in the market include Ningbo Mylon Rubber & Plastic Co, Sequential Brands Group Inc, Columbia Sportswear Company, Jade Yoga, Manduka LLC, Hugger Mugger Yoga Products, Lululemon Athletica Inc, Eupromed S.R.O., Ltd., Winboss International Co., Quanzhou Sansheng Rubber Plastic Foamed Shoes Materials Co., Ltd., Liforme Ltd, and Barefoot Yoga Co, among others.
Please note: This is not an exhaustive list of companies profiled in the report.
In June 2020, Lululemon Athletica Inc. acquires a leading in-house fitness firm, MIRROR at a purchase cost of USD500 million. The firm is known to provide the best in- class content and versatile platforms. This acquisition is done to accelerate luluemon’s vision and build a health eco-system to fuel the company’s three growth plans.
In June 2019, Sequential Brands Group Inc announced its partnership with GAIAM—the yoga, fitness, and wellness brand.
Check the Press Release on Global Yoga Mat Market Report
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The Global Yoga Mat Market has been studied from the year 2017 till 2026. However, the CAGR provided in the report is from the year 2018 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Yoga Mat Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies and customer analytics.
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