Global Yoga Accessories Market Overview, 2022-27

Global Yoga Accessories Market Overview, 2022-27

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. 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 Overview, 2022-27, 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).

When it comes to yoga, the trend has been constantly evolving, bringing in more props and accessories making it more interesting and allowing the market to register 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. What was meant for mental health & peace is now commercialized and recognized globally. As evidence of global acceptance, the International Day of Yoga is celebrated with much fervor every year on June 21, since 2015. This event gaining its celebration on a global scale, the preparations starts usually a couple of months prior, culminating in a grand program where millions of practitioners observe a day of spiritual significance. While Covid-19 brought the world at risk of anxiety and post-traumatic stress disorder yoga was preached as an aid to deal with such crises. Yoga is also played a significant role in the psycho-social care and rehabilitation of Covid-19 patients in quarantine and isolation. It particularly helped in allaying the fears and anxiety.

People are likely to be purchasing branded yoga accessories even if they really won’t have any necessity, just to publicize on social media. The most commonly used yoga accessories include yoga strap, D-ring strap, cinch strap, and pinch strap. Additional props include mats, blocks, pillows, blankets, etc. While these accessories help in making the yoga postures and stretch easier, yoga clothing is more towards comfort and fashion appeal. The global market is ruled majorly by yoga mats and yoga clothing segments, which together held a share of more than 90% in the market since 2015. While the yoga mat serves as a comfort against the body while practicing, blocks and straps focus on facilitating or extend a pose, assists with balance and support when used effectively. A recent trend in the yoga industry is the private yoga studios setting up their brand of yoga accessories to attract an extra line of income.

Even though the native of Yoga is rooted back in India, the US is the market leader in the yoga accessories market. Similarly, even though Asia has been a market leader considering the regional segments, tables turn by 2020 when North America takes over the market dominance. With around 300 Million practitioners across the world, 36 Million are Americans. What is more astonishing is that, between the span of 2012 to 2016, the number of American practitioners increased by 50%. A major drawback in the market growth is the myth about yoga being more suitable for females or elder age people. However, with the increase in social media promotions and innovations of newer and tougher forms of yoga, this myth is much likely to vanish soon. Mega brands such as Reebok and Nike do not track yoga accessories as a separate category but say there has been a jump in demand for accessories used for practice. Major companies mentioned in the report are: Adidas AG, Aurorae, Barefoot Yoga Co, Gaiam, Hugger Mugger Yoga Products LLC, Lululemon AthleticaInc, Manduka LLC, Nike INC.

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 covered in the report
• North America
• Europe
• Asia-Pacific
• South America
• Middle East & 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.