The global yoga and exercise mats market size is projected to grow from USD 11.7 billion in 2021 to USD 15.2 billion by 2026, at a CAGR of 5.3% during the forecast period 2021 to 2026. This growth can be attributed to the rising awareness regarding healthy lifestyles and the inclination of people toward mind-body fitness across the globe.
This growth can be attributed to the rising popularity of yoga, an increase in the prevalence of lifestyle diseases, and an increase in the rate of obesity across the globe. The use of eco-friendly and biodegradable materials and development in innovative technological solutions for yoga and exercise mats are expected to act as new opportunities for the market to grow. However, volatility in raw material prices is expected to hinder the market growth during the forecasted period.
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Based on the end use, the yoga and exercise mats market has been segmented into personal and health club. The personal segment accounted for a largest share in the yoga and exercise mats market in 2020. Currently, one of the most active groups of people globally is millennials. The millennial generation is more inclined to exercising and eating health-enriching food products. However, due to time constraints, a lot of people prefer exercising at home. In addition, technology is reshaping the trends of home workouts. Through a combination of at-home gym equipment, fitness apps, and online digital streaming, the trend of at-home workouts is projected to continue in the coming years. This has directly impacted the yoga and exercise mats market, as consumers prefer adopting at-home workout routines and are purchasing related products.
Based on the distribution channel, the yoga and exercise mats market has been segmented into e-commerce, supermarket & hypermarket, and specialty store. The e-commerce segment accounted for a largest share in the yoga and exercise mats market in 2020. As the COVID-19 pandemic spreads around the world, more consumers preferred shopping online. Fitness products, such as yoga and exercise mats, witnessed a high demand due to the COVID-19-enforced lockdown of health clubs and gymnasiums. This has led to an increase in the expansion of e-commerce distribution channels and demand for fitness products.
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Based on material, the yoga and exercise mats market has been segmented into natural rubber, polyvinyl chloride, polyurethane, thermoplastic elastomer, and other. The polyvinyl chloride segment accounted for the largest share of the yoga and exercise mats market in 2020. The large share can be attributed to the advantages of polyvinyl chloride over other materials. This material is lightweight, durable, low cost, and easily processable.
Europe, Asia Pacific and North America, are significant regional markets for yoga and exercise mats. Asia Pacific accounted for the largest share of the yoga and exercise mats market in 2020. Factors such as the local government initiatives to support the yoga industry, such as the AYUSH initiative by the Indian government, the presence of cheap labor and multitude of raw materials, the health consciousness and inclination toward healthy lifestyle among the youth, and the presence of many local manufacturers of yoga and exercise mats are responsible for propelling the demand for yoga and exercise mats in the Asia Pacific region. North America accounted for the second-largest share in 2020 and is projected to be the fastest-growing market for yoga and exercise mats during the forecast period.
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Lululemon Athletica Inc (Canada), Columbia Sportswear Company (US), Adidas AG (Germany), Under Armour, Inc. (US), Sequential Brands Group Inc. (US), Airex AG (Switzerland), Jade Yoga (US), Manduka LLC (US), Hugger Mugger Yoga Products (US), Liforme Ltd. (UK), Barefoot Yoga Co. (US), Fabrication Enterprises, Inc. (US), Quanzhou Sansheng Rubber Plastic Foamed Shoes Materials Co., Ltd. (China), and La Vie Boheme Yoga (US) are some of the leading players operating in the yoga and exercise mats market.
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