Yoga Mat Market Analysis: Size, Share, Growth, and Trends in the Coming Years
The global yoga mat market is poised for significant growth between 2021 and 2025, driven by a surge in health awareness and a rising number of fitness enthusiasts. Yoga mats, available in various materials including PVC, rubber, plastic, hessian, and cork, are witnessing robust demand. Among these materials, PVC currently holds the largest market share, followed by TPE (Thermoplastic Elastomer).
PVC, accounting for over 30% of the market share in 2019, has been dominant. However, the rubber segment is expected to exhibit a higher Compound Annual Growth Rate (CAGR) during the forecast period. Rubber-based yoga mats are renowned for their durability and recyclability, making them a preferred choice among consumers.
The yoga industry has experienced remarkable growth, especially in Western countries, with a burgeoning number of yoga practitioners. It is projected that by 2021, the United States will have more than 50 million yoga practitioners, each spending an average of approximately $90 per month on classes, workshops, and accessories. This presents a substantial opportunity for the yoga mat market.
Government promotion of yoga as a lifestyle has also positively impacted the global market. Yoga is increasingly perceived as a pathway to better living, further fueling its popularity.
Innovative Products Meeting Specific Needs Drive Market Opportunities
The demand for anti-skid or non-skid yoga mats has been particularly strong among yoga enthusiasts who seek to prevent injuries. Traction and grip on slippery surfaces are crucial, leading manufacturers to introduce eco-friendly yoga mats that resonate well with consumers.
For example, in 2019, DIYogi launched an eco-friendly yoga mat made from natural tree rubber. This mat features an inner layer of antibacterial cotton, offering improved cushioning and long-lasting freshness. Moreover, the company allows customization by providing designed drawing stencils, allowing users to decorate the mats according to their preferences.
Sales of Self-Cleaning, Eco-Friendly Mats Remain a Key Strategy
The yoga mat market is highly fragmented, with numerous local players offering cost-effective alternatives alongside international brands. To capture potential customers, leading companies are investing in technological advancements and eco-friendly products. Additionally, manufacturers are shifting their focus towards online sales, enabling them to offer cost-effective products.
Blank Yoga, for instance, offers self-cleaning, odor-resistant yoga mats equipped with an antibacterial mechanism that utilizes antimicrobial silver salts to prevent odors and germs.
In February 2020, Indian-based company Wellnesys launched the world’s first interactive yoga mat under the brand name YogiFi. This smart yoga mat can connect to any fitness app, providing real-time feedback on performance during exercises.
Key Players in the Market
Prominent players in the yoga mat market include Lululemon, Manduka, Tomuno, Adidas, prAna, Yaazhtex, Khataland, Liforme Ltd., Hugger Mugger, Jade Yoga, Dragonfly, and Alo Yoga, Inc., among others.
Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 – By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa) https://www.fairfieldmarketresearch.com/report/yoga-mat-market
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This press release first seen on Brilad