Yoga Mat Market

Yoga Mat Market is estimated to witness a higher CAGR over the upcoming years, due to the increasing participation in sports and physical training activities.

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Key Drivers

The outbreak of the COVID-19 has impacted the economic performance of almost every country in the world. The pandemic has shifted the focus of people towards their health in order to eliminate the possibility of contracting coronavirus. As the gyms and other workout places have been temporarily closed, individuals have shifted towards doing yoga and other physical activities at their homes. This is a major factor that is surging the growth of the market during the forecast period. Moreover, yoga is gaining traction around the world. According to a Worldwide Survey of Fitness Trends for 2018, yoga is one of the “hottest fitness trends” in the world in the same year. The Sports Council of the UK announced the British Wheel of Yoga as the national governing body for ancient practice in the UK. The Eventbrite estimated that on an average yoga practitioner spends USD 90 per month on yoga, thus amounting to nearly USD 62,000 in their lifetime on yoga classes and equipment.

The increasing number of yoga studios in developing and developed countries is further contributing to the market growth. For example, in 2017, the Indian government announced to open 100 yoga parks in the country. Furthermore, the players in the market are focusing on using eco-friendly and biodegradable materials for the production of the yoga mat. Prana, one of the most popular brands in the North American region, is offering 100% organic cotton with recycled material for yoga mats. Increasing number of fitness clubs and yoga studios, rising incidences of chronic diseases such as obesity, diabetes, and COPD and rising influence of yoga and ayurvedic practices in the western society are the major factors fueling the market growth. Moreover, the growing awareness towards spiritual practices, easy availability of yoga mats at the online platforms, increasing investments by the leading players on research and development and strategic Government initiatives to promote the use of yogic practices, are further contributing to the market growth. For example, on 21st June 2019, Ministry of Ayush, Government of India, introduced a common yoga protocol at international yoga day to spread awareness pertaining yoga and meditation. In addition, an increase in the seminars and events related to the spirituality practices and dharmic traditions in the form of online coaching or physical coaching is estimated to expand the market growth. On the other hand, the use of alternatives such as woven carpets, grass lawns, wooden floors, or bathmats, particularly in South Asian countries including India, is hampering the market growth.

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End-Use – Segment Analysis

Based on the end-use, yoga mats for personal use is projected to grow at a higher CAGR during the forecast period. The increasing preference for at-home workouts has encouraged the individuals to purchase yoga mats for personal use which is driving the market growth. The outbreak of the COVID-19 pandemic has forced people to stay at their homes, which has further surged the demand for yoga mats for personal purposes. This has increased the sales of the leading players in the market. In 2019, ICON Fitness, the organization owning Nordictrack, Proform, and iFit, witnessed an increase in 600% sales in April in the U.S.

Distribution Channel – Segment Analysis

Based on the distribution channel, the e-commerce is projected to grow at a higher CAGR during the forecast period. The growing penetration of smartphones and the internet are the two major factors that are propelling the growth of the market. Moreover, this distribution channel’s features such as discount offers, free home delivery, and other benefits are further supporting people to opt for this distribution channel.

Material – Segment Analysis

Based on the material, the polyvinyl chloride material is expected to grow at a higher CAGR during the forecast period. The PVC material is used for the production of yoga mats as it is highly cost-effective as compared to other polymers and offers better flexibility, durability, and is easy to wash.

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Regional – Segment Analysis:

On the basis of regional coverage, Asia-Pacific is projected to dominate the market during the coming years. This is mainly due to the rising popularity of yoga in nations such as Japan, Thailand, India, Australia, and other countries. Moreover, the increasing number of initiatives to create more awareness related to the benefits of yoga is further responsible for the growth of the market during the forecast period. For example, the International Yoga Fest (IYF) is organized by the Union Ministry of AYUSH every year since 2016.

North America region is estimated to hold a larger share over the upcoming years, attributed to the growing awareness about the health benefits of yoga and rising expenditure on fitness across the United States, and Canada. For example, as per the Global Wellness Institutes, the expenditure in US on yoga, tai chi, qigong, pillates, bare and other activities was estimated to be USD 10.4 billion in 2018.

Top Market Players

Various notable players operating in the market include Lululemon Athletica, Jade Yoga, Manduka, Hugger Mugger, LIFORME, Columbia Sportswear Company, Barefoot Yoga Co., Fabrication Enterprises, Inc., Adidas, and La Vie Boheme Yoga, among others. 

Key Developments:

• • In 2020, Columbia Sportswear Company entered an agreement with Steelpoint Capital Partners (US) and other members for the acquisition of controlling interests of the yoga-inspired prAna apparel brand.
  • In 2020, Lululemon Athletica entered an agreement to acquire MIRROR (US), an in-home fitness company, for USD 500 million. The MIRROR will provide a mirror-style product that mimics an in-studio experience and around 70 new classes per week.

Segments covered in the Report:

The global yoga mat market has been segmented on the basis of material, end use, distribution channel, and regions. Based on materials, the market is segmented Polyvinyl Chloride (PVC), Polyrethane (PU), Thermoplastic Elastomer (TPE), Natural Rubber, and Others. Based on end use, the market is segmented into health club and personal. Based on Distribution Channel, the market is segmented into Supermarkets & Hypermarkets, Specialty Store, and E-Commerce. 

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Key questions answered in this research report:

• • At what pace is global yoga mat market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in yoga mat market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global yoga mat market?
  • Which material generated maximum revenues in 2019 and identify the most promising material during the forecast period?
  • What are the various end use areas of global yoga mat market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Revenues (2019)	USD Million
Market Base Year	2019
Market Forecast Period	2020-2027
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Material, By End Use, By Distribution Channel, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Lululemon Athletica, Jade Yoga, Manduka, Hugger Mugger, LIFORME, Columbia Sportswear Company, Barefoot Yoga Co., Fabrication Enterprises, Inc., Adidas, and La Vie Boheme Yoga, among others; a total of 10 companies covered
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Yoga Mat Market by Material

• • Polyvinyl Chloride (PVC)
  • Polyrethane (PU)
  • Thermoplastic Elastomer (TPE)
  • Natural Rubber
  • Others

Global Yoga Mat Market by End Use

• • Health Club
  • Personal

Global Yoga Mat Market by Distribution Channel

• • Supermarkets & Hypermarkets
  • Specialty Store
  • E-Commerce

Global Yoga Mat Market by Region

• • North America Yoga Mat Market (Option 1: As a part of the free 25% customization)

    • North America Yoga Mat Market by Material
    • North America Yoga Mat Market by End Use
    • North America Yoga Mat Market by Distribution Channel
    • US Yoga Mat Market All-Up
    • Canada Yoga Mat Market All-Up

  • Europe Yoga Mat Market (Option 2: As a part of the free 25% customization)

    • Europe Yoga Mat Market by Material
    • Europe Yoga Mat Market by End Use
    • Europe Yoga Mat Market by Distribution Channel
    • UK Yoga Mat Market All-Up
    • Germany Yoga Mat Market All-Up
    • France Yoga Mat Market All-Up
    • Spain Yoga Mat Market All-Up
    • Rest of Europe Yoga Mat Market All-Up

  • Asia-Pacific Yoga Mat Market (Option 3: As a part of the free 25% customization)

    • Asia-Pacific Yoga Mat Market by Material
    • Asia-Pacific Yoga Mat Market by End Use
    • Asia-Pacific Yoga Mat Market by Distribution Channel
    • China Yoga Mat Market All-Up
    • India Yoga Mat Market All-Up
    • Japan Yoga Mat Market All-Up
    • Rest of APAC Yoga Mat Market All-Up

  • RoW Yoga Mat Market (Option 4: As a part of the free 25% customization)

    • RoW Yoga Mat Market by Material
    • RoW Yoga Mat Market by End Use
    • RoW Yoga Mat Market by Distribution Channel
    • Brazil Yoga Mat Market All-Up
    • South Africa Yoga Mat Market All-Up
    • Saudi Arabia Yoga Mat Market All-Up
    • UAE Yoga Mat Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Yoga Mat Market All-Up

Major Players Operating in the Yoga Mat (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Lululemon Athletica
  • Jade Yoga
  • Manduka
  • Hugger Mugger
  • LIFORME
  • Columbia Sportswear Company
  • Barefoot Yoga Co.
  • Fabrication Enterprises, Inc.
  • Adidas
  • La Vie Boheme Yoga