South America Yoga Accessories Market Outlook, 2027

South America Yoga Accessories Market Outlook, 2027

Little surprise South Americans are glued to this brilliant science. In fact, they rightly consider India a land of yoga, meditation, philosophy, wisdom, culture, and spiritualism, the region is the lowest contributor in the global market. Yoga schools can be found all over the region. Yoga and meditation are taught in some South American jails to calm down the convicts. Unlike Europeans and Americans, who in the same period received their first yogic instructions from the hands of Indian yogis, South Americans created their own explanations, without instructions from Indian yogis.

The recent publication by Bonafide Research, named South America Yoga Accessories Market Outlook, 2027, studies about this aiding props market at the regional level, segmented into by product type (Mats, Clothing, Straps, Blocks & others), by sales channel (Online & Offline) and by countries (Brazil, Argentina & Columbia). By the end of the forecasted period, this region is expected to cross a value of USD 1270 Million, still holding to the lowest share.

There is a research gap on South American yoga between the years 1900 and 1950 when no Indian yogi had yet arrived on the continent. Thus, South American yoga is unique because of the influences of symbolic exchanges of the aforementioned yogis during a movement that had been building since 1900. Even though the market didn’t hit a good start, the yoga mat segment led the market with higher revenue share. Also, the strap segment is likely to gain more popularity in the region and is expected to show a change of USD 25 Million from 2016 to 2027. It’s no surprise to anyone that e-Commerce grew a lot everywhere in the last few months due to the COVID-19 pandemic. South America is no exception, and its history shows that it’s not only because of the quarantine that people have to face. The region is highly inclined towards online shopping when it comes to yoga accessories, which held more than 65% of the market share. With international brands starting their lines of yoga apparel and accessories and inaugurating showrooms in the region, the offline market is likely to grow with an anticipated CAGR of more than 10%.

Yoga is now set for promotion in Peru, Bolivia, and adjoining parts of South America, with anMoU being signed in New Delhi in this regard recently. The Embassy of India in Peru’s capital Lima has taken up the responsibility for the promotion of the Voluntary Scheme for Evaluation and Certification of Yoga Professionals, developed by the Quality Council of India (QCI) at the bidding of the Ministry of AYUSH. While Brazil leads the market, Argentina & Columbia together accounted for a share of nearly 26% of the region’s share. In all its modalities, including Power Yoga, Yogilates, hot yoga, and others, the trend will continue to mark the world of wellness in the coming year, especially for its importance in mental health. Along with yoga, plant medicine is the main concept of the region’s shamanic retreat.

Major Companies Present In the Market
Adidas AG, Lululemon Athletica Inc, Nike Inc

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

Countries covered:
• Brazil
• Argentina
• Columbia

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.