ID: MRFR/CR/7018-HCR | February 2021 | Region: Global | 111 pages
Yoga Mat Market is projected to reach USD 11.78 Billion by 2030 at a CAGR of 5.40% from 2020-2030. The best things about the Yoga mats are that they are utilized while practicing to keep hands and feet stable and forestall wounds. The rising interest for wellness gear and extras is relied upon to drive Market development. In 2018, the market for wellness gear was esteemed at roughly USD 12 billion. Exceptional rivalry inferable from an enormous number of provincial and nearby players in the market is driving makers to zero in on item advancement and improvement. Makers have presented yoga mats with different marks like natural, non-poisonous, without phthalate, and eco-accommodating.
You must know that the Yoga mats are made out of elastic, which helps offer sitting help while rehearsing yoga. Yoga mats are generally being utilized because of the developing fame of yoga all around the globe. Various state-run administrations are likewise advancing the advantages of rehearsing yoga alongside the blend of Ayurveda. The developing wellbeing and awareness among individuals all around the globe is an essential factor driving the Yoga Mat Market.
Additionally, developing number of yoga studios, expanded reception of yoga by a colossal number of the populace because of its few medical advantages and drives are taken by the public authority in certain areas of the Market Revenue. Item development and tendency toward mats produced using traditional materials will additionally set out new open doors for the yoga mat market in the conjecture time frame referenced previously. Moreover, producers have been zeroing in on giving yoga mats upgraded solace, more accommodation, and various material choices to buyers to acquire a strategic advantage in the worldwide Yoga Mat Market.
The COVID-19 outbreaks have affected virtually every one of the nations across locales, their financial presentation, and the circulation channels of the multitude of businesses. Notwithstanding, the wellbeing area and its associated market have seen a positive effect because of the pandemic. The pandemic has decidedly affected the worldwide Yoga Mat Market, a piece of the wellness and medical care items markets. This has been made conceivable by the improved web-based business exercises of millions of buyers worldwide.
As per various buyers' therapists, individuals throughout the planet have been buying things dependent on three necessities in order to secure, engage, and connect. Furthermore, the worldwide Yoga Mat Market is projected to observe consistent development, even after the pandemic dies down, significantly because of the expansion in mindfulness regarding the sound way of life among individuals throughout the planet.
Significant Market drivers
An increase in the popularity of Yoga is considered as the major factor that is driving the growth of the Yoga Mat Market in the forecasted period. Yoga has become progressively well known in recent years. In light of yoga insights worldwide, yoga has been recorded among the ten most famous wellness exercises on the planet. The Worldwide Survey of Fitness Trends for 2018 records yoga among the "Hottest wellness tend" on the planet for that year. The ascent in the act of yoga has prompted a flood popular for particular gear and frill, for example, yoga and exercise mats. Consequently, the ascent in the fame of yoga is projected to drive the development of the Market share.
The unpredictability of natural substance costs is hampering the growth of the Yoga Mat Market. You must know that the mat business is by implication reliant upon raw petroleum costs. As oil is aware, it will, in general, observer expanded vacillations in costs. Fluctuating product costs observe a huge effect on the incomes and profit of organizations in their environment. Unpredictability in oil costs has progressively influenced different organizations, going from retailers to plastics producers, like Polyvinyl Chloride. Natural substance providers are attempting to acquire a benefit, and yoga mat providers and OEMs are zeroing in on raising costs, be that as it may, enduring misfortunes and a lessening in client base. Thus, unpredictability in unrefined substance costs goes about as a restriction in developing the Yoga Mat Market.
The utilization of eco-accommodating and biodegradable materials is offering new and updated opportunities in the Yoga Mat Market. As yoga fans incline toward spending on solid, agreeable, and climate well-disposed items and administrations, influential organizations are zeroing in on using parts that administer low fossil fuel byproduct levels during the assembling system. Besides, rigid unofficial laws across areas have urged makers to put resources into climate agreeable parts for creating yoga mats. Yoga mat producers are moving their concentration from using PVC materials to warm plastic elastomer (TPE) materials and others like normal elastic, cotton, and jute to line up with severe unofficial laws.
Accessibility of options in contrast to yoga and exercise mat is creating major challenges in the growth of the Yoga Mat Market. A yoga/practice mat gives a strong surface and has a decent grasp, making the training more open in general. The hold or tenacity of a mat is presumably the main factor, because of which it observes expanded use. Numerous wellness specialists practice at home, especially in South Asian nations, like India, and don't want to rehearse on a mat. This represents a significant test for producers, affecting the development of the Yoga Mat Market.
Based on material, the Polyvinyl Chloride (PVC) portion represented the biggest portion of the Yoga Mat Market in 2020. PVC is utilized to assemble yoga and exercise mats as it is less expensive than different polymers, gives adaptability, sturdiness, and is also simpler to wash than different materials. Subsequently, PVC is liked for assembling minimal expense yoga mats.
Based on end-use, the individual fragment represented the biggest piece of the pie in 2020. Yoga and exercise mats observer expanded reception for at-home exercises, as they are utilized as hotness defenders, retaining wipes, in garden laying, and other sporting exercises. These mats offer more than premise functionalities, because of which their utilization has been consistently expanding in the buyer Yoga Mat Market.
By Distribution channels
Based on the distribution channel, the web-based business portion represented the biggest portion of the Market in 2020. Internet business circulation is generally utilized for growing business exercises, through which items can be offered to clients without the requirement for a retail shop. This distribution channel has been becoming because of the headways in innovation and web availability. Organizations have had the option to arrive at their expected clients by setting on the web stores where the items presented by producers can be gotten to around the world.
According to the regional Analysis report, Asia-Pacific is considered the major Yoga Mat Market in 2020, representing the most extreme offer. This is credited to increment the number of yoga specialists and flood in the reception of yoga mats from India, China, Japan, and Australia. Expansion in drives by government and wellness clubs to elevate yoga is relied upon to drive the market for yoga extras in the region, at last propelling the development during the Market figure.
Key Market Players
The major players of the Market are mentioned below:-
Quanzhou Sansheng Rubber Plastic Foamed Shoes Materials Co., Ltd. (China)
In July 2020, Lululemon Athletica Inc. entered an authoritative consent to secure MIRROR (US), an in-home wellness organization, for a valuation of USD 500 million.
In January 2019, Columbia Sportswear Company (CSC) procured the leftover 40% premium in Columbia Sportswear Commercial (Shanghai) Company, its joint endeavor in China with Swire Resources Limited.
Market Report Overview
The report highlights that the global Market Growth development includes its revenue hike's growth potential by the end of the forecast years in 2025.
Frequently Asked Questions (FAQ) :
Yoga Mat Market is projected to grow at a 5.40% CAGR between 2020-2030.
The Asia Pacific is expected to dominate the Yoga Mat Market.
Yoga Mat Market is predicted to touch USD 11.78 billion by 2030.
PVC yoga mats will lead the Yoga Mat Market.
Fluctuating raw material prices may limit the Yoga Mat Market growth.