The demand for yoga accessories and equipment has been gaining a huge traction across the globe particularly in Asia Pacific and North America region. Yoga mats are made of rubber that provide sitting support while practicing yoga. With the growing popularity of yoga across the globe, leading players in the global yoga mat market are joining hands for a developing collaborative products with an objective to attract more users. Moreover, several governments are promoting the benefits of practicing yoga along with the combination of Ayurveda. The global yoga mat market is expected to achieve positive growth in the coming years of the forecast period.
Yoga Mat Market – Notable Developments
Some of the recent developments in the global yoga mat market are given below:
- In 2018, the government of India allocated more than INR 1000 Cr for the development of the AYUSH system of medicine. This is unique medicinal system with roots in the Ayurveda. This has been in promotion of the yoga across the nation.
- In 2017, the government of India opened around 100 yoga parks in the country. This has been a great driving factor for the growth of the yoga mat market as more number of people have started practicing yoga.
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Yoga Mat Market – Drivers and Restraints
There is a wide range of factors that is helping to drive the overall growth of the global yoga mat market. One of the key driving factors for the market growth has been the growing health awareness among people across the globe. More and more number of people are trying to adopt healthier lifestyle by signing up for yoga classes and performing different ‘asanas’. With the growing number of yoga studios across the globe, it has had a direct impact on the overall development of the global yoga mat market.
In addition to this, several governments and regulatory bodies across the globe are supporting the yoga sessions. This has encouraged several funding and investments for the development of new and innovative products that provide comfort to the yoga performer. This has thus been a significant driving factor for the growth of the global yoga mat market.
In addition to this, a key trend that has been observed in the market that new yoga mats are being produced from a degradable, recyclable, eco-friendly material. Thus, it is working in two folds – conserving the nature and enhancing the human health. Naturally, the popularity of these mats on the rise.
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Yoga Mat Market – Geographical Outlook
From a geographical standpoint, there are five key regions of the global yoga mat market. These regions are North America, Latin America, Asia Pacific, Middle East and Africa, and Europe. Of these, the global yoga mat market has been dominated by the North America region. One of the key driving factors behind the dominance of the North America region is the growing popularity of yoga among the population in the region. In addition to this, the number of yoga studios have been growing at a great pace in the region. As per a recent study report, around 36.7 million people in the US alone practiced yoga in 2016. This is a huge number of end users and thus is helping to drive the growth of the yoga mat market in North America. Moreover, with the growing health awareness among the people about having a fit physique and healthy body is also driving the uptake of yoga. This is thus helping to grow the market in the region to new heights.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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