Yoga Accessories Market Analysis, Growth Analysis, Opportunities & Forecast 2018-2026
Increasing concerns regarding health and fitness among population, owing to rising health problems such as obesity and others has led to increasing adoption of Yoga. Rising popularity of yoga is fueling demand for yoga accessories such as yoga mats, yoga straps, yoga clothes, and yoga bricks across the world. Manufacturers are switching to recyclable raw materials and biodegradable products for development of these accessories, to avoid adverse impacts on the environment. Raw materials such as natural rubber, jute and cotton are preferred over polyurethane, nylon, leather and synthetic rubber for sustainable and ecofriendly yoga mats. Increasing number of people are opting for eco-friendly products, owing to rising awareness regarding adverse effects of using polyurethane, nylon, leather and synthetic rubber products. Lower emissions generated in manufacturing of eco-friendly, sustainable mats encourages consumer to adopt these products, which is creating conductive environment for growth of yoga mats and other yoga accessories.
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Yoga straps are useful for cross-legged meditation with proper alignment and balance. Ultra-light, durable, comfortable, cotton blend, soft and smooth yoga straps are on high demand. Yoga straps are available in eight to ten feet lengths, which are also useful in physical therapy, pilates, ballet, and cross-fit. Yoga clothing provides comfort and ease while practicing different postures. Soft, smooth, moisture resistant and organic fabric is provided by manufacturers to attract customers globally. Manufacturers are focusing on launching yoga clothes that are specially designed to absorb sweat while letting the skin breathe. Yoga bricks provide an improved alignment with stability and balance. These bricks or blocks are prepared from cork or high density foam. Odor proof, moisture resistant, eco-friendly yoga bricks are gaining importance and are contributing towards increasing demand of yoga accessories.
Market Dynamics
Major growth driver for global yoga accessories market is increasing popularity of yoga. According to Yoga Journal report, in 2016, 36.7 million people practice yoga in the U.S. In 2017, U.S.’s yoga market was valued at around US$ 16 billion, which included yoga accessories, and revenue generated from yoga classes and yoga facilities.
Furthermore, healthcare and wellness sector is witnessing a steady growth, globally. Statistics published in January 2017, by Global Wellness Economy Monitor stated that, globally wellness sector represented US$ 3.7 trillion economy. Airports, hotels in Europe as well as North America are offering quiet rooms for yoga and meditation. Among hotels such as Hilton, Westin, and Fairmont are providing yoga classes to their customers to maintain their wellness routine.
Moreover, governments of various countries are focusing on initiatives to promote yoga and health benefits from yoga. For instance, World Yoga Day is celebrated on 21st June, every year, by performing yoga in a large group publically. AYUSH is a governmental body in India aimed to develop education and research in Ayurveda and Yoga. These factors are expected to aid in growth of the market.
Market Outlook
The global yoga accessories market is segmented into North America, South America, Asia Pacific, Europe, and Middle East and Africa. North America is projected to exhibit high growth in the global yoga accessories market throughout the forecast period. This is owing to increasing trend of practicing yoga in the region, due to its health benefits. For instance, according to a study conducted by Ipsos Public Affairs in 2016, yoga practitioners in the U.S. invested over US$ 16 billion on yoga clothing, equipment, classes, and accessories in 2015, up from US$ 10 billion in 2012.
Yoga accessories are sold through various distribution channels. Brand visibility of yoga accessories is playing important role in reaching out to more number of customers through distribution channels. Specialty stores is projected to be the fastest growing segment in the market over the forecast period. Specialty stores, which provide detailed information regarding the product quality, and pricing help in efficient and effective product distribution.
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Key players in Global Yoga Accessories Market
Key players in yoga mat market are Gaiam, Barefoot yoga, Jade Yoga, Manduka, Lululemon, and others. Prominent vendors in the yoga strap market are FitLifestyleCo, Padma Seat, Vive, Fit Spirit, OPTP, Wacces, and Peace Yoga.
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