June 25, 2024
Yoga Mat Market

Yoga Mat Market Is Trending Towards A Healthier Lifestyle

The yoga mat market is trending towards a healthier lifestyle by increasing awareness of preventive healthcare and work-life balance. Yoga mats provide a non-slip surface and cushion for various yoga poses and meditation practices, improving flexibility, strength and mental well-being. Common yoga mat materials include polyvinyl chloride (PVC), thermoplastic elastomer (TPE), natural rubber, jute and cotton. PVC mats are affordable but less eco-friendly, while natural rubber and jute mats are more breathable and sustainable.

The Global Yoga Mat Market is estimated to be valued at US$ 16.46 Bn in 2024 and is expected to exhibit a CAGR of 5.9% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the yoga mat market include Jade Yoga, Hugger Mugger, Alo Yoga, Lululemon Athletica, Manduka, prAna, Liforme Ltd., Khataland, Gaiam, Yoga Direct, Suga, La Vie Boheme Yoga, Barefoot Yoga, Trimax Sports, Body-Solid, Grip Yoga, Arcturus Foam Industries, Wavar, Successful Mat Co., Ltd., and Travancore Cocotuft Pvt. Ltd. Key players are focusing on new product launches, partnerships and expansion strategies to gain a larger market share.

The growing demand for Yoga Mat Market Demand mats can be attributed to increasing health awareness and busy lifestyles of consumers. Regular yoga practice has garnered popularity for its benefits such as stress relief, improved flexibility and muscle strength. Further, adoption of yoga as a preventive healthcare approach is expected to drive sales of yoga mats for home-use.

The yoga mat market is expanding globally with the growing popularity of yoga tourism and videos. Countries with exponentially rising yoga participation include United States, China, India and Germany. Manufacturers are focusing on these emerging regions by scaling local production, distribution partnerships and linguistically customizing products.

Market Key Trends

One of the key trends in the yoga mat market is the growing demand for eco-friendly and sustainable mats. Consumers are increasingly preferring mats made of natural and recycled materials like jute, cork and natural rubber over PVC and TPE varieties due to environmental concerns. Leading brands are differentiating their offerings based on compostable formulations, certifications and zero-waste businesses. This emphasis on greener products is expected to remain a major driver in the industry over the coming years.

Porter’s Analysis

Threat of new entrants: There is moderate difficulty in entering the yoga mat market as it requires R&D investment and setting up of manufacturing units. However, the market is growing which provides opportunities.

Bargaining power of buyers: Buyers have moderate bargaining power in the yoga mat market as there are many established brands to choose from. Buyers can compare prices and features.

Bargaining power of suppliers: Established raw material suppliers have some bargaining power over small manufacturers as yoga mat production requires technical textiles.

Threat of new substitutes: Potential threat from new substitutes is low as yoga mats have become an integral part of yoga practice and are specialized products.

Competitive rivalry: The market has the presence of some big international brands and small local brands. Competition is based on pricing, features, quality and brand image.

Geographical Regions

North America has the largest share in the global yoga mat market in terms of value due to high yoga participation rates. The US accounts for the major demand.

Asia Pacific is the fastest growing region for yoga mats driven by rising health awareness, disposable incomes, and popularity of yoga in countries like India, China, and Japan. Increasing number of yoga studios and young population are contributing to the growth.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it.