Yoga accessories market size to grow by USD 6,159.41 million from 2022 to 2027: A descriptive analysis of customer landscape, vendor assessment, and market dynamics

NEW YORK, Dec. 20, 2022 /PRNewswire/ — Technavio categorizes the global yoga accessories market as a part of the global leisure products industry, which covers a variety of categories, including yoga accessories, musical instruments, camping equipment, recreational vehicles, bicycles, toys, and other consumer-oriented games. The global yoga accessories market size is estimated to increase by USD 6,159.41 million between 2022 and 2027. The market’s growth momentum will progress at a CAGR of  6.9%.

Technavio has announced its latest market research report titled Global Yoga Accessories Market 2023-2027

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Global yoga accessories market – Vendor analysis

Vendor offerings 

  • adidas AG – The company offers yoga accessories such as Mesh Graphic Quarter Sport Socks, adidas Yoga Backpack, and Trail Water Bottle 750 ML.

  • Barefoot Yoga Co. – The company offers yoga accessories such as Barefoot Yoga Practice Straps, Barefoot Yoga Rectangular Bolster, and Barefoot Yoga Zabuton.

  • Body Solid Inc. – The company offers yoga accessories such as BSTYM10, and BSTYM5.

  • Hugger Mugger Yoga Products LLC Inc. – The company offers yoga accessories such as 4 in. Foam Yoga Block, 4 in. Marbled Foam Yoga Block, and Deluxe Wool Yoga Blanket.

  • For details on vendors and their offerings – Buy the report!

Vendor landscape

The global yoga accessories market is fragmented, with the presence of with numerous market vendors and a few established players. A few prominent vendors that offer yoga accessories in the market are 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. and others.

Vendors compete on many factors, including price, quality, technology, brand, and variety. Different companies adopt diverse marketing strategies to increase their market share. Prominent vendors have adopted the practice of sustainability, which is essential for future production. They are expected to expand their presence in low-penetrated markets such as developing countries. As a result, the market is expected to experience a sizable production capacity growth. A rise in production capacity will enable vendors to meet the surging demand for yoga accessories. In addition, the increasing number of health clubs and gyms will contribute to the growth and expansion of the market.

Global yoga accessories market – Customer landscape
To help companies evaluate and develop growth strategies, the report outlines –

Global yoga accessories market – Segmentation assessment

Segment overview
Technavio has segmented the market based on product (yoga mats, yoga straps, yoga blocks, and others) and distribution channel (offline and online).

  • The yoga mat segment will contribute significantly to the market’s growth during the forecast period. Yoga mats prevent users from slipping while performing yoga exercises. They also keep the body warm. The yoga mat segment is expected to grow steadily during the forecast period. Various government and non-government organizations are taking initiatives to educate people about the advantages of yoga, which will increase the adoption of yoga mats. Some vendors are developing smart and innovative yoga mats that offer real-time feedback. These factors will drive the growth of the segment during the forecast period.

Geography overview
Based on geography, the global yoga accessories market is segmented into North America, Europe, APAC, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global yoga accessories market.

  • North America is estimated to account for 38% of the growth of the global market during the forecast period. The demand for yoga accessories in this region has increased, with a rise in participation in regular fitness activities. Vendors are capitalizing on the growing awareness about the benefits of staying fit by introducing new offerings, which is increasing their revenue. These factors will drive the growth of the market in the region during the forecast period.

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Global yoga accessories market Market dynamics

Leading drivers – The growing number of yoga practitioners is driving the market growth. The popularity of yoga is increasing, especially in North America. For instance, the number of yoga practitioners in the US rose by more than 11% in 2018 when compared to 6.40% in 2012. The benefits of yoga, such as stress relief, general fitness, flexibility, and overall development of health, are the main reasons behind this growth. The increasing awareness about yoga and the subsequent rise in the number of yoga practitioners globally will influence the sales of yoga products, including accessories. These factors will drive the growth of the global yoga accessories market during the forecast period.

Key trends – Growing enrolment in fitness and health clubs is a key trend in the yoga accessories market. Yoga products, including accessories, are used in health and fitness clubs for purposes such as weight training, limbering down, yoga, and general fitness exercises. The number of health and fitness clubs is expected to expand during the forecast period, which may increase the sales of yoga accessories. Many clubs offer exclusive packages to attract customers and increase their sales. Premium customers can get benefits such as free workouts and yoga. Thus, the rise in the number of memberships in health and fitness clubs has increased the demand for yoga products, including yoga accessories.

Major challenges – Fluctuating raw material prices are challenging the yoga accessories market growth. The profit margins of key manufacturers such as Lululemon Athletica are fluctuating due to the volatility in the prices of raw materials. For instance, the prices of synthetic fibers keep fluctuating, which increases the prices of yoga accessories made from these raw materials. In addition, cost-driven end-users prefer lower-priced yoga products, including accessories, which reduces the sales potential and revenue of global players. Such factors are hampering the growth of the market.

Drivers, trends, and challenges have an impact on market dynamics, which can impact businesses. Find some insights from a sample report!

What are the key data covered in this yoga accessories market report?

  • CAGR of the market during the forecast period

  • Detailed information on factors that will drive the growth of the yoga accessories market between 2023 and 2027

  • Precise estimation of the size of the yoga accessories market and its contribution to the parent market

  • Accurate predictions about upcoming trends and changes in consumer behavior

  • Growth of the yoga accessories market across North America, Europe, APAC, South America, and Middle East and Africa

  • A thorough analysis of the market’s competitive landscape and detailed information about vendors

  • Comprehensive analysis of factors that will challenge the growth of yoga accessories market vendors

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  • The smart yoga mat market size is expected to increase to USD 164.18 million from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 6.43%. This report extensively covers market segmentation by distribution channel (offline and online) and geography (North America, Europe, APAC, South America, and Middle East and Africa).

  • The size of the online apparel footwear and accessories market in the US is expected to increase by USD 91.54 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 11.91%. This report extensively covers segmentation by product (apparel, footwear, and accessories) and end-user (women and girls and men and boys).

Yoga Accessories Market Scope

Report Coverage

Details

Page number

165

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 6.9%

Market growth 2023-2027

USD 6,159.41 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

6.1

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

North America at 38%

Key countries

US, China, UK, Germany, and France

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

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.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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Table of contents

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Product

7 Market Segmentation by Distribution Channel

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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Global Yoga Accessories Market 2023-2027

Global Yoga Accessories Market 2023-2027

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