Yoga Accessories Market to Grow by USD 6.55 Billion (2024-2028), Driven by Product Innovation and Premiumization, Report Highlights AI Impact on Trends - Technavio

NEW YORK, Oct. 7, 2024 /PRNewswire/ -- Report on how AI is redefining market landscape- The global yoga accessories market  size is estimated to grow by USD 6.55 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  6.91%  during the forecast period.  Product premiumization due to more innovation in yoga accessories is driving market growth, with a trend towards growing enrolment in fitness and health clubs. However, fluctuating raw material prices  poses a challenge. Key market players include Adidas AG, Barefoot Yoga Co., Body Solid Inc., Decathlon SA, Hugger Mugger Yoga Products LLC Inc., JadeYoga, La Vie Boheme Yoga, Liforme Ltd., lululemon athletica Inc., Manduka LLC, Merrithew International Inc., New Balance Athletics Inc., Nike Inc., NoCoast Beer Co., OPTP, Padma Seat, Trimax Sports Inc., Yoga Direct LLC, Yogamatters Ltd., and YogiKuti Pvt. Ltd..

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Key Market Trends Fueling Growth

The health and fitness industry has seen a significant growth in recent years, with an increasing number of memberships and the establishment of new clubs worldwide. This trend is driving the demand for yoga accessories as these products are essential for various fitness activities offered in these clubs. Health and fitness clubs, such as Planet Fitness, YMCA of the USA, Life Time Fitness, Anytime Fitness, and ClubCorp, have been expanding their offerings to attract customers with exclusive packages and discounts. As a result, the sales of yoga accessories are expected to increase in line with the growth of these clubs during the forecast period. With the rising focus on health and fitness, the number of health and fitness clubs in the US has grown by over 18% between 2012 and 2017. This growth in memberships has led to an increased demand for yoga accessories to support a range of fitness activities, including weight training, limbering down, and yoga. 

The Yoga Accessories market is booming with trends like personalization, high-level competition, and health consciousness driving growth. Yoga mats, apparel, blocks, and props are popular components, catering to the needs of yoga enthusiasts and practitioners. Seasonal demand for yoga gear is a key factor, with limited retail space posing a challenge. Strategies like e-commerce activities and Google Meet sessions help expand reach. Health benefits of yoga for various illnesses, including blood sugar and bodily fluids, fuel demand. Beginners and those with physical disabilities also require specialized accessories. Yoga props like blankets, bolsters, and pillows aid in proper yoga poses, preventing injuries to muscles and the spine. Grass and mud mats offer an eco-friendly alternative. Staying updated on market trends and customer needs is crucial in this competitive landscape. 

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Market Challenges

• The yoga accessories market is currently facing challenges due to the volatile prices of key raw materials. Manufacturers, such as lululemon athletica, are experiencing profit margin fluctuations as a result. The prices of synthetic fibers, like polyester, are particularly affected. This volatility makes it difficult for manufacturers to anticipate costs and maintain profitability. Furthermore, price-conscious consumers prefer affordable yoga accessories, limiting the sales potential and revenue of global market players. This situation puts pressure on manufacturers to keep costs low, potentially compromising product quality. Overall, the unpredictability of raw material prices poses a significant challenge to the growth of the global yoga accessories market.
• The Yoga accessories market is experiencing significant growth due to increasing health consciousness and the popularity of Yoga among beginners and practitioners. However, challenges exist for those with physical disabilities or injuries, requiring props like mats, blankets, bolsters, and pillows. Economically-priced accessories are essential for wider accessibility. Natural raw materials, such as grass mats and cotton straps, are preferred by many, but synthetic options like Nylon, Plastic, and Polyurethane are also popular due to their affordability and ease of use. Brands offering high-quality, natural rubber props in various colors like lake lilac violet, pine green, gray, and haze coral, are gaining popularity. Key benefits include improved muscle flexibility, spine alignment, and injury prevention. Future estimations show continued growth, driven by the rise of virtual classes on platforms like YouTube and Zoom, and the increasing prevalence of chronic diseases like diabetes, cardiovascular problems, and obesity due to unhealthy lifestyles. Quantitative analysis indicates a strong demand for eco-friendly, recyclable, and product design innovation in the market.

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Segment Overview 

This yoga accessories market report extensively covers market segmentation by

1. Product 
• 1.1 Yoga mats
• 1.2 Yoga straps
• 1.3 Yoga blocks
• 1.4 Others
2. Distribution Channel
• 2.1 Offline
• 2.2 Online
3. Geography 
• 3.1 North America
• 3.2 APAC
• 3.3 Europe
• 3.4 Middle East and Africa
• 3.5 South America

1.1 Yoga mats-  Yoga mats are essential accessories for practicing yoga, designed to prevent slippage and maintain body warmth during exercises. The market for yoga mats is projected to expand due to increasing awareness of yoga's health benefits. JadeYoga's ELITE S and VOYAGER MAT, and Barefoot Yoga Co.'s BROWN AND PINK TPE YOGA MAT are popular options. Vendors focus on innovations like alignment guides, such as Liforme Ltd.'s Liforme White Magic Yoga Mat. Thinner mats provide better stability for yoga postures, with materials like natural rubber, PVC, jute, and cotton used in their production. These factors contribute to the growth of the yoga mats segment.

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Research Analysis

The yoga accessories market is thriving due to the growing popularity of yoga as a healthy lifestyle activity for people of all ages and abilities. From beginners to advanced yoga practitioners, these accessories play a crucial role in enhancing the yoga experience. They include mats made of grass or eco-friendly materials for those who prefer a natural surface, as well as mud mats for those with physical disabilities or injuries. Yoga props such as blocks, straps, and blankets provide support and help with various yoga poses, reducing the risk of injuries. Product design innovation, celebrity endorsements, and personalization are key trends driving market growth. Low-cost alternatives and seasonal demand also influence market strategies. Yoga accessories offer numerous health benefits, including improved flexibility, strength, and balance, as well as relief from illnesses such as high blood sugar and other healthcare and fitness issues. Whether you're a yoga enthusiast or just starting out, there's an accessory to suit your needs.

Market Research Overview

Yoga accessories have become an essential part of practicing this ancient art, providing comfort, support, and enhancement for various poses. With the rising health consciousness, yoga has gained immense popularity among beginners and practitioners alike, regardless of physical disabilities. Yoga props like mats, blankets, bolsters, and pillows help align the body correctly, reducing injuries and easing muscle tension on the spine. Natural raw materials like grass, mud, and cork have given way to synthetic alternatives such as Nylon, Plastic, and Polyurethane. The e-commerce boom has made yoga accessories more accessible, with brands offering high-quality, recyclable, and natural rubber options. Key benefits of yoga accessories include personalization, product design innovation, and seasonal demand. However, high-level competition and limited knowledge about the right props for specific illnesses like diabetes, cardiovascular problems, and obesity pose a challenge. As more people adopt unhealthy lifestyles, the demand for yoga accessories continues to grow. Strategies like offering a wide range of colors (Lake lilac violet, Pine green, Gray, Haze coral) and components catering to various injuries and muscles can help brands stand out. Future estimations suggest that the popularity of yoga and growth of e-commerce will drive the market forward. Quantitative analysis reveals that yoga mats, yoga blocks, and yoga apparel are the most popular categories. Despite the challenges, the yoga accessories market holds immense potential. Yoga enthusiasts can look forward to innovative designs, personalized options, and high-quality products that cater to their unique needs. Healthcare and fitness activities on platforms like YouTube, Zoom, Google Meet, and yoga clubs further fuel the demand for yoga accessories. As we move forward, the market is expected to witness continued growth and evolution.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Product
• Yoga Mats
• Yoga Straps
• Yoga Blocks
• Others
• Distribution Channel
• Offline
• Online
• Geography
• North America
• APAC
• Europe
• Middle East And Africa
• South America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

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SOURCE Infiniti Research, Inc.