London, April 15, 2024 (GLOBE NEWSWIRE) -- Global yoga mat market is flourishing, driven by a surge in health and wellness consciousness. According to a recent report by Fairfield Market Research, the market is poised for significant growth, with a projected valuation of US$26.5 Bn by 2030. This reflects a substantial leap from its estimated value of US$17.6 Bn in 2023.
The burgeoning yoga mat market can be attributed to several key factors. Consumers are increasingly prioritizing their wellbeing, embracing yoga as a holistic practice that promotes physical fitness, mental clarity, and stress reduction. This rising interest in yoga has fuelled the demand for high-quality yoga mats that provide comfort, support, and stability during practice.
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REPORT SCOPE
| Report Attributes | Details | |
| Base Year | 2022 | |
| Forecast Year | 2023 – 2030 | |
| Market Size in 2022 | US$17.6 Bn | |
| Estimated Market Size in 2030 | US$26.5 Bn | |
| CAGR | 5.3% | |
| Growth Drivers |
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| Segmentation |
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| Regional Coverage |
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The yoga mat market is expected to witness a steady growth trajectory over the next few years. The market research report anticipates a CAGR of 5.3% during the forecast period (2023 – 2030). This growth is indicative of the increasing popularity of yoga across demographics and a burgeoning interest in creating home yoga studios.
Furthermore, the report highlights a shift in consumer preferences towards eco-friendly yoga mats. Materials like recycled plastics, cork, and bamboo are gaining traction as consumers become more environmentally conscious. Thermoplastic elastomer (TPE) is emerging as the fastest-growing segment within the yoga mat market. TPE yoga mats are lauded for their durability, affordability, and eco-friendly properties.
"The global yoga mat market is experiencing robust growth, fuelled by a growing emphasis on health and wellness. Consumers are increasingly recognising the benefits of yoga, and are seeking high-quality mats to support their practice," says a leading analyst at Fairfield Market Research.
For More Industry Insights Read: https://www.fairfieldmarketresearch.com/report/yoga-mat-market
Key Research Insights
- Online sales of yoga mats are surging as consumers become comfortable with online purchases, impacting traditional retail channels.
- Customisation options for colours, patterns, and even personal designs are gaining popularity as consumers seek unique and aesthetically pleasing yoga mats.
- The increasing number of yoga studios and fitness centres is driving demand for yoga mats in both personal and commercial settings, with bulk purchases by studios contributing significantly.
Insights into Segmentation Analysis
The TPE segment is anticipated to register the highest CAGR owing to its affordability, durability, and eco-friendliness.
PVC yoga mats remain popular due to their low cost, but their market share is expected to decline slightly as consumers prioritize eco-conscious options.
Nitrile rubber and natural rubber yoga mats cater to yogis seeking superior grip and cushioning. However, these materials tend to be more expensive.
Yoga studios and fitness centres are projected to continue driving demand for high-quality, durable yoga mats.
The home use segment is expected to witness significant growth as more people create home yoga spaces.
Online stores are rapidly becoming the preferred channel for purchasing yoga mats, owing to convenience and wider selection.
Key Report Highlights
- Yoga mats come in a wide range of materials like PVC, TPE, rubber, and natural fibres, catering to different user preferences. Eco-friendly options made from recycled materials, and bamboo are gaining traction due to sustainability concerns.
- Consumers are increasingly opting for premium yoga mats with better grip, thickness, and innovative designs, willing to pay more for an enhanced yoga experience.
- Advancements in materials and manufacturing are leading to yoga mats with improved features like antimicrobial properties, better durability, and easier maintenance.
Insights into Regional Analysis
The Asia Pacific region is expected to dominate the yoga mat market throughout the forecast period.
Growth of Asian markets is attributed to the rising disposable income and increasing awareness of yoga's health benefits in this region.
North America is another significant market for yoga mats, with a well-established yoga culture and a high concentration of fitness enthusiasts.
The European market for yoga mats is expected to grow steadily, driven by a growing interest in holistic wellness practices.
Key Players in Global Yoga Mat Market
- Lululemon Athletica Inc.
- Manduka Inc.
- Yoga Direct
- Liforme
- Gaiam Inc.
- JadeYoga
- Rhino Skin Gear
- Equilibrium Products
Global Yoga Mat Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 - (By Material Coverage, By Distribution Channel Coverage, By Geographic Coverage and By Companies): https://www.fairfieldmarketresearch.com/report/yoga-mat-market
About Us
Fairfield Market Research is a UK-based market research provider. Fairfield offers a wide spectrum of services, ranging from customized reports to consulting solutions. With a strong European footprint, Fairfield operates globally and helps businesses navigate through business cycles, with quick responses and multi-pronged approaches. The company values an eye for insightful take on global matters, ably backed by a team of exceptionally experienced researchers. With a strong repository of syndicated market research reports that are continuously published & updated to ensure the ever-changing needs of customers are met with absolute promptness.
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