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Yoga Mat Global Market Report 2021: COVID-19 Growth And Change

Yoga Mat Global Market Report 2021: COVID-19 Growth And Change

  • July 2021
  • 175 pages
  • ID: 6103726
  • Format: PDF
  • The Business Research Company

Summary

Table of Contents

Major players in the yoga mat market are Jade Yoga, Manduka LLC, Hugger Mugger Yoga Products, Liforme Ltd, Barefoot Yoga Co, Fabrication Enterprises Inc., Accessory Arcade, Ningbo Mylon Rubber & Plastic Co Ltd, Winboss International Co Ltd, Xiamen Sanfan Sports Products Co Ltd, and Hefei Bodyup Sports Co Ltd.

The global yoga mat market is expected to grow from $9.97 billion in 2020 to $10.76 billion in 2021 at a compound annual growth rate (CAGR) of 7.9%.The growth is mainly due to the increasing health consciousness among consumers and the rising prevalence of lifestyle diseases and obesity. The market is expected to reach $13.49 billion in 2025 at a CAGR of 5.8%.

The yoga mat market consists of sales of yoga mats by entities (organizations, sole traders, and partnerships) that are engaged in manufacturing and selling yoga mats.Yoga mats are also commonly known as non-slip mats, non-skid mats, or sticky mats.

These mats are specially fabricated mats used to accommodate the body of a person while practicing yoga to prevent hands and feet from slipping during practicing yoga.

The main types of materials used to manufacture yoga mats includes natural rubber, polyvinyl chloride, polyurethane, thermoplastic elastomer, others. The yoga mats are widely available for customers through various channels such as e- commerce, supermarket and hypermarket, specialty store and are used by yoga & fitness clubs, household, others.

Asia Pacific was the largest region in the yoga mat market in 2020. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The fluctuation in raw material prices is acted as a restraint for the yoga mat market in the historic period.The raw materials like polyvinyl chloride (PVC), thermoplastic elastomer (TPE), and polyurethane (PU) used to manufacture yoga mats are some polymers which are derived from oil.

The volatility in oil prices impacts the costs of these raw materials directly.For instance, the price of Brent Crude increased by over 70% from $45 per barrel in 2017 to $80 per barrel in 2018.

The high oil prices increased cost of manufacturing for yoga mats and thus acted as a restraint for the yoga mat market.

In December 2020, Thrasio, a USA-based consumer products company announced the acquisition of Maximo Fitness for $200 million.With the acquisition of Maximo Fitness, Thrasio plans to expand the consumer products portfolio of the company in the UK.

Maximo Fitness is a UK-based company that is into manufacturing, designing, and supplying gym and lifestyle products including exercise mat/yoga mats.

The increasing popularity of yoga is expected to drive the growth of the yoga mat market in the forecast period.The surge in the practice of yoga across the globe is generating higher demand for specialized equipment and accessories such as yoga mats.

According to the US Yoga Population Statistics, about 55 million American people were estimated to practice yoga in 2020, with 72% of the female practitioners.Moreover, Americans spend approximately $16 billion on yoga equipment, classes, clothing, and accessories.

Therefore, the rise in the popularity of yoga is boosting the demand for the yoga mat market.

The launch of eco-friendly products is a key trend in the yoga mat market.Major companies are focusing on manufacturing eco-friendly mats to attract more customers and survive in the competitive business environment.

For instance, in August 2020, Organic Apoteke, a UK-based company launched an eco-travel yoga mat.The eco-travel yoga mat is biodegradable, odor-resistant, and antimicrobial.

It has a wet grip surface which helps to maintain balance while practicing yoga.

The countries covered in the yoga mat market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.

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