The global yoga accessories market is projected to expand exponentially, with an estimated increase of USD 6.55 billion from 2024 to 2028. The market is swiftly growing at an impressive Compound Annual Growth Rate (CAGR) of 6.91% during this forecast period. Driving the market growth is the product premiumization as a result of increased innovation in yoga accessories. Furthermore, a growing trend of increased enrolment in health and fitness clubs contributes to this market growth. However, fluctuations in raw material prices pose a significant challenge.
Key market players include 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.
The market research report on global yoga accessories has revealed significant details about the market’s forecast period, which from 2024 to 2028. Key data from 2017 to 2021 have been utilised to gain historical insights in the market.
The market segments covered in the report consist of product types (Yoga mats, Yoga straps, Yoga blocks, and others), distribution channels (Offline and Online), and geographical regions (North America, APAC, Europe, Middle East and Africa, and South America).
The health and fitness industry has significantly grown in recent years, with an increase in membership and new establishments of clubs worldwide. This trend drives the demand for yoga accessories. Health and fitness clubs, for instance, Planet Fitness, YMCA of the USA, Life Time Fitness, Anytime Fitness, and ClubCorp, have been expanding their offerings to allure customers with exclusive packages and discounts. Consequently, the sales of yoga accessories are expected to surge in agreement with the growth of these clubs during the forecast period.
The yoga accessories market is booming due to trends like personalization, high-level competition, and health consciousness. Yoga mats, apparel, blocks, and props are the popular components catering to the needs of yoga enthusiasts and practitioners.
However, the yoga accessories market is now facing challenges due to volatile prices of raw materials. Manufacturers, such as lululemon athletica, are experiencing fluctuation in profit margins. Synthetic fibres, like polyester, are specifically affected by such volatility, making it difficult for manufacturers to predict costs and maintain profitability.
The e-commerce boom has made yoga accessories more accessible, with brands offering high-quality, recyclable, natural rubber options beneficial to improving muscle flexibility, spine alignment, and preventing injuries. The rise in virtual classes on platforms like YouTube and Zoom, and the increasing prevalence of chronic diseases due to unhealthy lifestyles further boost the demand for yoga accessories. It is imperative for the brands to stay updated on the market trends and customer needs in this competitive landscape.
As the market moves forward, it is expected to continue growing and evolving, with yoga mats, yoga blocks, and yoga apparel remaining the most popular categories. Despite challenges, this market holds a lot of potential. Yoga enthusiasts can look forward to innovative designs, personalized options, and high-quality products that cater to their unique needs. Hence, for a prospering future, it remains crucial for the brands to step up to the evolving market dynamics.
