Yoga Clothing Market Is Expected to Reach $70.29 Billion, Globally, by 2030 at 7.8% CAGR: Allied Market Research

Yoga Clothing Market Is Expected to Reach $70.29 Billion, Globally, by 2030 at 7.8% CAGR: Allied Market Research

PR Newswire

PORTLAND, Ore., Nov. 16, 2021

Surge in demand from emerging markets, rise in prevalence of obesity, and increase in government initiatives to promote yoga drive the growth of the global yoga clothing market.

PORTLAND, Ore., Nov. 16, 2021 /PRNewswire/ -- Allied Market Research published a report, titled, "Yoga Clothing Market by Product Type (Top wear and Bottom Wear), End User (Men and Women), and Distribution Channel (Supermarkets/Hypermarkets, Specialty Stores, E-commerce, and Others): Global Opportunity Analysis and Industry Forecast 2021–2030". According to the report, the global yoga clothing industry generated $33.68 billion in 2020, and is anticipated to generate $70.29 billion by 2030, witnessing a CAGR of 7.8% from 2021 to 2030.

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Prime determinants of growth

Surge in demand from emerging markets, rise in prevalence of obesity, and increase in government initiatives to promote yoga drive the growth of the global yoga clothing market. However, increase in the number of yoga accidents hinders the market growth. On the other hand, promotion of yoga for male practitioners presents new opportunities in the coming years.

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Covid-19 Scenario

The bottom wear segment to maintain its leadership status throughout the forecast period

Based on product type, the bottom wear segment held the highest market share in 2020, accounting for more than half of the global yoga clothing market, and is estimated to maintain its leadership status throughout the forecast period. This is due to rise in number of yoga studios and health & fitness clubs across the globe. Moreover, the same segment is projected to manifest the highest CAGR of 8.1% from 2021 to 2030. The report also mention top wear segment.

The women segment to maintain its lead position during the forecast period

Based on end user, the women segment accounted for the largest share in 2020, contributing to more than three-fifths of the global yoga clothing market, and is projected to maintain its lead position during the forecast period. This is due to the increased women participation in yoga. However, the men segment is expected to portray the largest CAGR of 8.3% from 2021 to 2030, owing to the rising prevalence of obesity among the men across the globe.

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North America to maintain its dominance by 2030

Based on region, North America held the highest market share in terms of revenue in 2020, accounting for more than one-third of the global yoga clothing market. This is due to increase in health awareness and fitness concerns among consumers in North America. Moreover, the Asia-Pacific region is expected to witness the fastest CAGR of 8.8% from 2021 to 2030. Rise in popularity of yoga has led to many hybrid forms of yoga such as nude, hot, power, goddess, dog yoga, or even snowga (yoga in snow) adapted to suit requirements of participants. This has significantly boosted the demand for yoga clothing, thereby fueling the growth of the market. Other regions discussed in the report include Europe and LAMEA.

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