product premiumization owing to more innovation in yoga accessories is driving the Yoga Mat Market
Technavio analyzes that the Yoga Mat Market is expected to grow at a CAGR of 5.5% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 2876.5 million.There are various factors that contribute to the growth of the market. The yoga mat market has witnessed significant product premiumization, driven by an increase in innovation within the realm of yoga accessories. Manufacturers are focusing on enhancing the user experience by introducing advanced features, such as eco-friendly materials, non-slip surfaces, and portable designs. These improvements cater to the evolving needs and preferences of consumers, thereby justifying the higher price points.
The yoga mat market is experiencing significant growth within the health and fitness industry, driven by increasing health concerns, stress, and anxiety. Monobrand stores, which are independently owned retail establishments selling products under the same brand, are becoming increasingly popular distribution channels for yoga mats. This trend is particularly noticeable in North America, where major fitness equipment manufacturers such as Nike and adidas are expanding their monobrand store networks to boost direct-to-customer sales. These upscale retail spaces catering to spirituality practices and Dharmic traditions attract a large customer base seeking high-quality yoga mats for their fitness activities.
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Yoga Mat Market Segmentation
As per our research findings, here are some of the key competitors that are leading the industry
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The Yoga Mat Market caters to various fitness enthusiasts seeking to enhance their exercise routine with the benefits of yoga. These mats help retain energy during workouts, keep the body warm, and prevent injuries. AI technology and digital connectivity enhance the experience with yoga assistants like YogiFi, guiding users through stretching movements and correct body positioning. PVC-free mats made from natural rubber offer health benefits, while jute mats provide an eco-friendly alternative. Travel yoga mats offer convenience for fitness activities on-the-go. Hypermarkets, supermarkets, health & fitness clubs, and households are significant market sectors. Yoga mats contribute to improving flexibility, strength, and addressing health problems such as stress and anxiety. Sticky mats ensure a secure grip during asanas.
The global leisure products market, a segment of the larger household durables industry, encompasses categories such as sports equipment, musical instruments, camping equipment, recreational vehicles, bicycles, toys, and other consumer-focused games. According to Technavio's market analysis, the growth of this market is attributed to several key factors. One significant driver is the rise in health and fitness club memberships, which has seen a consistent expansion over the past decade. Additionally, advancements in AI technology and digital connectivity are revolutionizing traditional exercise equipment, including yoga mats, by offering personalized workouts and real-time feedback. Furthermore, the importance of injury prevention and the benefits of body warming during exercise have heightened consumer awareness and demand for high-quality yoga mats. Overall, these factors contribute to the promising growth prospects for the leisure products market.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
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