Global Yoga Accessories Market Outlook, 2027

Global Yoga Accessories Market Outlook, 2027

Yoga is a methodical effort toward self-perfection through developing talent potential on the physical, vital, mental, intellectual, and spiritual levels. It was first devised by the rishis and sages of ancient India and has been maintained by a stream of living teachers ever since, who have continually adapted this science to every generation. it was first imported into Europe and the US around the end of the nineteenth century when it was brought by Indian practitioners immigrating to new countries. Yoga Accessories help practitioners of all levels to gain the sensitivity of yoga poses while receiving the benefits and not overdoing it.

The recent publication by Bonafide Research, named “Global Yoga Accessories Market Outlook, 2027”, studies about this aiding props market at global level, segmented into by product type (Mats, Clothing, Straps, Blocks & others) and by sales channel (Online & Offline). The market was valued around USD 17 Billion which is anticipated to reach around twice of the revenue by the end of the forecast period. Further, the overall market is projected to expand with more than 12.5% CAGR for 2022-2027. Millennial population is becoming more conscious about their health these days. Different types of yoga exercises not only keep customers physically fit but also mentally well. Yoga requires different equipment to tap its full benefits and potential, and this increases the demand for yoga accessories. Yoga accessories make it easy for customers to do different types of yoga by providing more grips to any posture. This has increased the demand for yoga accessories in the world.
Even though yoga had already gained its popularity across the world, there was a hype post the introduction of Yoga Day, in 2015 as mandated by the United Nations after Indian Prime Minister Shri Narendra Modi’s speech in 2014As the world suffered at the hands of Covid, yoga came as a rescue, playing a significant role in the psycho-social care and rehabilitation of patients in quarantine and isolation, particularly helping them in allaying their fears and anxiety. With the increasing understanding of the health benefits of yoga, more people are expected to be practicing yoga in the coming years. People are likely to be purchasing branded yoga accessories even if they really won’t have any necessity, just to publicize on social media. This growing tendency to gain more likes of social media will also be an indirect factor for the market growth.

Accessories are used to improve yoga posture, increase movement and extend stretches. Popular yoga accessories include a yoga strap, D-ring strap, cinch strap, and pinch strap. Additional props include mats, blocks, pillows, blankets, etc. The global market is ruled majorly by yoga mats and yoga clothing segments. These two segments account for a share of more than 92% in the market since 2021. The yoga straps accounted for the least of the market share, considering the low knowledge about the same. Straps are mainly used for stretching so that users achieve a wide range of motion. Yoga mats and blocks can be used with straps so that users change their positions more easily and have gentler contact with the floor.

Further, the market is majorly classified into two segments of Online and Offline sales channels. Among them, the market is led by the online sales channel segment. Fitness products, such as yoga mats, yoga socks, wheels, sandbags, etc. are abundantly available in a specialty store; as such stores focus more on increasing their sales, in terms of volume, as compared to supermarkets. Consumers are willing to invest heavily in these premium products due to factors like superior quality and durability. This is to allow the offline market segment to be growing at an anticipated CAGR of more than 12%.

The ancient practice of yoga originated in India in the 5th century B.C.E. and has since spread throughout the world. It was first imported into Europe and the US around the end of the nineteenth century when it was brought by Indian practitioners immigrating to new countries. Asia is considered as a home of Yoga, and there is a constant increase in yoga retreat tourism, accounted for a market share of more than 31% in the year 2021. However, the global market is likely to witness a growth of the North America region, which is expected to be the leading market region from 2021. Widely perceived as a Hindu spiritual practice, yoga was not officially permitted for decades in Saudi Arabia, the cradle of Islam where all non-Muslim worship is banned. Due to the lack of awareness about yoga accessories and the economic incapability of the region, it remains the lowest contributor in the global market. One can now find meditation and hatha yoga classes worldwide, and the US alone now has over 6,000 studios in cities big and small. The US accounted for a market share of more than 23%, followed by China & India, both accounting for nearly 15%. The cities with the highest number of yoga studios in the USA are San Francisco, New York, and Los Angeles. Bali, Ibiza, Thailand, and of course India itself, all have huge yoga tourism industries and they are growing bigger every year.

Yoga is becoming more popular as people become more concerned about their health and fitness as a result of rising health issues such as obesity and others. Yoga's growing popularity is generating demand for yoga equipment such as mats, straps, clothing, and bricks all across the world. Yoga accessories aid all levels of practitioners in gaining the sensitivity of yoga positions while still enjoying the benefits and not overdoing it.

Increasing consumer awareness toward yoga and fitness is driving the growth of the yoga accessories market. Furthermore, the rise in the practice of yoga is anticipated to create market opportunities for the yoga accessories market during the forecast period. However, fluctuation in raw material price may restrain the growth of the yoga accessories 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.

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. 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 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. The yoga accessories market is projected to grow during the forecast period, owing to various factors such as an increase in the number of fitness enthusiasts and the growing demand for high-quality yoga accessories.

Nowadays people are becoming more creative and introducing yoga in their exercise routines. According to numerous consumer psychologists, people around the world have been purchasing items based on three needs: to protect, entertain, and connect. Furthermore, the global yoga mats market is projected to witness steady growth, even after the pandemic subsides, majorly due to the increase in awareness regarding the healthy lifestyle among people around the world.

From the last few years the popularity of yoga is increasing mainly due to its numerous health benefits. Yoga has been considered as one of the most popular fitness activities in the world. Yoga is becoming popular worldwide and on June 21 the international yoga day is celebrated. The word “yoga” is among the 15 most popular words in the UK. This increase in popularity has led to increase in various accessories related to it which includes yoga mat. Yoga mat act as a insulation between the human body and the ground. This prevents any loss of heat, charge or energy from the body to the ground and thereby provides a thermo-insulation. Due to anti-slipping nature of yoga mat, it helps the person to keep strong hold on the surface hence; the rise in popularity of yoga is projected to drive the growth of the yoga mat market.

Key developments
• Manufacturers are focusing on technologically advanced and innovative products to enhance the sale of yoga accessories. In May 2017, Indiegogo developed smart mat technology in which the smart mat is embedded with over 20,000 sensors, which provides the yoga practitioner vital information regarding body alignment and correctness of the postures. These smart mats can be tethered to smartphones with the help of Bluetooth technology.
• In October 2019, Flowstate launched a new series of yoga mats.
• Also, in April 2019, Flowstate launched graphic yoga mat in collaboration with Maser, an artist based in Dublin.
• In May 2019, Flipkart Private Limited, an Indian e-commerce company launched private label sports and fitness brand Adrenex which includes products such as yoga mats, dumbbells and volleyballs among others.
• In June 2018, Wearable X launched smart yoga pants for men.

COVID-19 Impacts:
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.

Major Companies Present In the Market
Adidas AG, Aurorae Yoga, Barefoot Yoga Company, Gaima, Hugger Mugger, Lululemon Athletica Inc, Manduka, Nike Inc

Considered In the Report
• Geography: Global
• Historical year: 2016
• Base year: 2021
• Estimated year: 2022
• Forecasted year: 2027

Regions and Countries covered in the report
• North America (US, Canada, Mexico)
• Europe (Germany, UK, Spain, Italy, France, Russia)
• Asia-Pacific (China, Japan, India, Australia)
• South America (Brazil, Argentina, Columbia)
• Middle East & Africa (UAE, Saudi Arabia, South Africa)

Aspects Covered In the Report
• Market Size By Value for the historic time period (2016-2021)
• Market Size By Value for the forecast time period (2022-2027)
• Market Share by Product (Mats, Clothing, Straps, Blocks, others)
• Market Share by Sales Channel (Online & Offline)
• Market Share by Region (2016, 2021 & 2027F)
• Market Share by Country (2016, 2021 & 2027F)

The approach of the report:
We keep an eye on evolving markets and try to evaluate the potential of the products and services. If we find the market interesting, we start working on it and create the desired table of content, considering all aspects of the business. We start by creating separate questionnaires for C-level executives, national/regional sales personnel, company owners, dealers, distributors, and end-users. Once the questionnaires have been finalized, we start collecting the primary data (mostly through phone calls) and try to understand the market dynamics regionally or tier-wise. This process gives us in-depth details of the market, including all present companies, the top-performing products with reasons why they dominate; we get the details of new players and their innovative approaches; market trends; dynamics; and all the small details of the market. After the collection of primary inputs, we then cross-check the same with secondary sources that include associations, trade journals, annual reports, paid databases, newspapers, magazines, press releases, government sources, etc. From this, we get a rough estimate of the market and start checking existing product price variants, trade, production, raw material scenarios, policies and regulatory landscape, etc. Then, to finalize the market, we start collecting financials of each player present in the market, including limited, private limited, and LLPs. Moreover, we perform cross-industry and cross-region analysis of the product, and based on collected primary inputs and using statistical modeling, we start forecasting the market. We follow our forecasting algorithm, which is unique for each product but gives more weight age to primary inputs. At the same time, the content team starts preparing company profiles, market dynamics, market trends, five forces, PEST analysis, etc. Once the data is verified by the data expert, the team (primary team, content team, and data team) together crosscheck the segmentations, validate the market, and then the designing team starts plotting the graphs. Once the file is ready, the content team completes the report and makes sure that all the discussed points have been covered and provides their valuable inputs in the form of strategic recommendations for new as well as existing players. The QC team then checks the overall report that includes spell check, data verification, and makes the same dispatch ready and error-free.

Intended Audience
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the yoga accessories manufacture industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.