CHICAGO, Oct. 30, 2020
CHICAGO, Oct. 30, 2020 /PRNewswire/ -- According to the new market research report "Yoga mat Market by Material (Natural Rubber, Polyvinyl Chloride, Polyurethane, Thermoplastic Elastomer, Others), Distributional Channel (E-Commerce, Supermarket & Hypermarket, Specialty Store), End-Use, Region – Global Forecast to 2025", published by MarketsandMarkets™, the global Yoga Mat Market size is projected to grow from USD 8.9 billion in 2020 to USD 10.4 billion by 2025, at a CAGR of 3.0% during the forecast period 2020 to 2025.
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The market growth is driven by the rising awareness regarding healthy lifestyles along with the rising popularity of yoga.
The polyvinyl chloride segment accounted for the largest share of the Yoga Mat Market in 2019.
By material, the polyvinyl chloride segment accounted for the largest market share in 2019. PVC is used for manufacturing yoga mats as it is cheaper than other polymers, provides flexibility, durability, and is also easier to wash in comparison to other materials. Hence, PVC is preferred for manufacturing low-cost yoga mats. The use of PVC yoga mats is observed to be higher in developing countries, such as India, Brazil, Argentina, and Mexico.
The e-commerce segment accounted for the largest share of the Yoga Mat Market in 2019.
By distribution channel, the e-commerce segment accounted for the largest share of the yoga mat market in 2019. Fitness products, such as yoga mats, witnessed a high demand due to the lockdown of health clubs and gymnasiums. This has led to an increase in the expansion of e-commerce distribution channels and demand for fitness products. This distribution channel has been growing due to the advancements in technology and internet accessibility.
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The personal segment accounted for the largest share of the Yoga Mat Market in 2019.
By material, the personal segment accounted for the largest market share in 2019. Yoga mats witness increased adoption for at-home workouts, as they are used as heat protectors, absorbing wipes, in garden laying, and other recreational activities. Yoga mats have more uses than their basic functions, due to which its consumption has been steadily increasing in the consumer market. This is projected to drive the growth of the yoga mats market during the forecast period.
Asia Pacific accounted for the largest share in the global Yoga Mat Market in 2019
Asia Pacific accounted for the largest share of the yoga mat market in 2019. The countries considered for study in the Asia Pacific yoga mats market include China, India, Japan, South Korea, Malaysia, Thailand, Australia, and Singapore. According to the UN study, the number of yoga practitioners is maximum in the Asia Pacific region. Factors such as the local government initiatives to support the yoga industry, such as the AYUSH initiative by the Indian government, the presence of cheap labor and multitude of raw materials, the health consciousness and inclination toward healthy lifestyle among the youth, and the presence of many local manufacturers of yoga mats are responsible for propelling the demand for yoga mats in the Asia Pacific region.
Lululemon Athletica Inc (Canada), Columbia Sportswear Company (US), Sequential Brands Group Inc. (US), Jade Yoga (US), Manduka LLC (US), Hugger Mugger Yoga Products (US), Liforme Ltd. (UK), Barefoot Yoga Co. (US), Fabrication Enterprises, Inc. (US), Quanzhou Sansheng Rubber Plastic Foamed Shoes Materials Co., Ltd. (China), adidas AG (Germany), La Vie Boheme Yoga (US) (US), Accessory Arcade (India), Eupromed S.R.O. (Czech Republic), Ningbo Mylon Rubber & Plastic Co., Ltd. (China), Winboss International Co., Ltd (Taiwan), Xiamen Sanfan Sports Products Co, Ltd. (China), Alo Yoga (US), TEGO (India), Ecoyoga (US), Shenzhen Haifuxing Technology Co., Ltd (China), Shanghai Fitness Sourcing Inc. (China), Fitness Mats (India), and Yoga Direct LLC (US), among others are the key players operating in the yoga mat market.
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