Yoga Mat Market Size, Share & Trends Analysis Report By Material (Cotton/Jute, PVC, TPE, Rubber, PE), By Distribution Channel (Specialty Store, Online Channel), By Region, And Segment Forecasts, 2019 - 2025

Report Overview

The global yoga mat market size to be valued at USD 17.32 billion by 2025 and is expected to grow at a compound annual growth rate (CAGR) of 5.8% during the forecast period. The growing popularity of yoga, especially in developed countries including U.S., Canada, and U.K., is expected to be the key factor driving the market. Increasing cases of lifestyle diseases and rising awareness about the health benefits of yoga are also boosting the product demand.

According to studies, around 36.7 million of American practiced yoga in 2016. Moreover, rising number of yoga studios in developed regions is expected to drive the product demand further. Many governments have initiated supportive programs to promote yoga and Ayurveda. For instance, in 2017, the government of India opened more than 100 Yoga Parks in the country.

In 2018, the government allocated more than INR 1000 crore for the development of AYUSH system of medicine. In addition, inclusion of this ancient technique in education system and rapidly growing wellness tourism sector are expected to have a positive impact on the market development. As per studies, in 2008, around 5% of population practiced yogic techniques on daily basis or occasionally, which doubled in a decade to nearly 11% in 2018.

Germany is one of the potential markets in Europe. The Polyvinyl Chloride (PVC) material segment accounted for the maximum market share in 2018 due to high efficiency and low cost of these materials. However, manufacturers are focusing on developing products from eco-friendly and biodegradable materials, such as rubber and Thermoplastic Elastomer (TPE), owing to stringent government regulations on use of plastic. Thus, rubber material segment is anticipated to expand at the fastest CAGR over the forecast period.

Yoga Mat Market Trends

The rising frequency of lifestyle disorders is expected to fuel the need for yoga mats.  Other major factors, such as increased public knowledge of the health advantages of yoga and an increase in the number of yoga studios, are expected to accelerate the market expansion.

An increase in demand for various end-use businesses is expected to boost the market's growth. Moreover, a rising number of incidences of obesity and other connected ailments such as cardiac arrest, hypertension, hypotension, and diabetes would drive people to participate in yoga, further boosting the market's growth.

Nowadays, a safe and hygienic yoga mat helps a lot. Unfortunately, there is a possibility that hazardous compounds are included in the mat. The key methods by which hazardous substances enter the body are inhalation and skin absorption. PVC mats have recently come under criticism due to their suspected toxicity. Heavy metals found in PVC mats are extremely hazardous. Additionally, cadmium (metal found in yoga mats) has been related to decreased bone mineral density, premature labor, kidney illness, and damage, all of which can lead to major health problems. Such variables are hampering industry growth.

The use of eco-friendly and recyclable plastics is creating new opportunities in the market. As yoga enthusiasts spend more money on solid, pleasant, and environmentally friendly items and administrations, major organizations are focusing on using elements that have low quantities of fossil fuel byproducts during the manufacturing process. Furthermore, strict rules in certain locations have driven manufacturers to invest in environmentally friendly components for making yoga mats. Many yoga mat manufacturers are shifting their focus from PVC materials to thermal plastic elastic (TPE) products and others such as regular elastic, cotton, and jute this is expected to provide better opportunities for the market.

Material Insights

Polyvinyl Chloride (PVC) segment held the largest market share of 40.3% in 2018 and will continue to expand further as these materials are cheaper than other materials. However, the segment will lose its share owing to growing environmental concerns as PVC is non-recyclable and contains hazardous chemicals. Rubber material segment is anticipated to expand at the fastest CAGR over the forecast period. Polyurethane (PU) rubber mats are gaining popularity owing to their eco-friendly properties. PU is non-toxic, lightweight material that can be recycled.

Distribution Channel Insights

Specialty store was the leading distribution channel segment in 2018. Increasing number of specialty stores, especially in China, South Korea, and Australia, is the key factor driving the segment. Departmental store is anticipated to expand at a CAGR of 4.8% from 2019 to 2025. Increasing number of departmental stores in tier II and tier III cities is expected to promote product sales through this channel.

Online segment anticipated to expand at a CAGR of 6.4% from 2019 to 2025. This channel is relatively small compared to offline channel, but is growing at significant rate owing to increasing penetration of internet and smartphone. The key reason for the growth of online shopping is it offers assistance of 24*7 hour availability, have great variety of option, and can compare price. In addition, most vendor including Lululemon and Manduka have their own online site from where consumer can order product as per their requirements. Moreover, increasing number of dedicated online retailer such as YogaOutlet.com, Walmart and Amazon are expected to assist in growth of the market.

Regional Insights

North America emerged as the largest regional market in 2018 owing to growing awareness about the health benefits of yoga and number of yoga studios in the region. Asia Pacific is projected to be the fastest-growing regional market, expanding at a CAGR of 7.3% over the forecast period.

Supportive government initiatives coupled with increasing participation is the key factor fueling the product demand in the region. Moreover, increasing number of yoga studios in Beijing, Shanghai, and other Chinese cities is expected to boost the product demand.

Key Companies & Market Share Insights

The global industry is highly competitive in nature. Some of the prominent companies operating in the market are Lululemon; Manduka; Jade Yoga; prAna; Hugger Mugger; Khataland; Liforme Ltd.; Dragonfly; Tomuno; and Alo Yoga, Inc.

Recent Developments

• In December 2020, Thrasio, a consumer product company, acquired Maximo Fitness, the U.K.-based manufacturer and supplier of gym products including yoga mats. With this acquisition, Thrasio aims to expand its product portfolio in the U.K. market.

• In June 2020, lululemon athletica inc., an athletic apparel company, announced the acquisition of MIRROR, a leading in-home fitness company. The acquisition aims to broaden the content creation collaboration.

Yoga Mat Market Report Scope

Global Yoga Mat Market Segmentation 

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, Grand View Research has segmented the global yoga mat market report on the basis of material, distribution channel, and region:

• Material Outlook (Revenue, USD Million, 2015 - 2025)

  • PVC

  • TPE

  • Rubber

  • PE

  • Cotton/Jute

• Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)

  • Specialty Store

  • Departmental Store & Hypermarket

  • Online Channel

• Region Outlook (Revenue, USD Million, 2015 - 2025)

  • North America

    • U.S.

  • Europe

    • Germany

    • U.K.

  • Asia Pacific

    • India

    • Australia

  • Central & South America

    • Brazil

  • Middle East & Africa