The growth of the global yoga mat market is driven by introduction of innovative yoga mats with enhanced functionality, improved material, and superior comfort
PORTLAND, OREGON, UNITED STATES, November 27, 2020 /EINPresswire.com/ — Yoga Mat Market garnered $14.29 billion in 2019 and is estimated to reach $23.2 billion by 2026, growing at a CAGR of 7.1% from 2019 to 2026.
Increase in demand for yoga mats from emerging markets, a rise in the obese population and a surge in government initiatives to promote healthy lifestyle fuel the growth of the global yoga mat market. On the other hand, rise in issues associated with yoga mats impedes the growth to a certain extent. Nevertheless, product innovation and inclination toward mats made from natural materials is expected to create lucrative opportunities for the key players in the industry.
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Based on material, the PVC segment contributed to more than one-third of the global yoga mat market share in 2018, and is expected to rule the roost by the end of 2026. These mats are light in weight and are highly resistant to moisture, which make them an ideal base for practicing yoga. In addition, its low cost and enhanced comfort offered during yoga practice fuels the growth of the segment. Simultaneously, the cotton/jute segment would cite the fastest CAGR of 7.9% from 2019 to 2026. This is due to rise in demand for yoga mats fabricated from biodegradable and eco-friendly materials.
Based on end-user, the household segment held the major share in 2018, generating nearly three-fifths of the global yoga mat market. Online yoga classes for practicing yoga, and their time flexibility and comfort, drives the growth of the segment. At the same time, the yoga and fitness club segment would showcase the fastest CAGR of 7.6% throughout the forecast period, owing to rise in consumer awareness about the health benefits of practicing yoga, and online pricing of memberships including special discounts, priority scheduling, or access to exclusive services of professional classes.
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Based on geography, the market across Asia-Pacific accounted for more than one-third of the global yoga mat market revenue in 2018 and is projected to dominate throughout the study period. In addition, the region would register the fastest CAGR of 8.1% by 2026. This is attributed to the availability of yoga classes in this region, and rise in popularity of hybrid forms of yoga. On the other hand, North-America contributed to the second highest share of the global market.
The key players profiled in the report include Manduka, Jade Fusion, prAna, Hugger Mugger, Adidas, Lululemon Athletica, Ecoyoga, Aurorae Yoga, LLC, Eupromed, and Yaazhtex.
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Source: EIN Presswire