Northbrook, IL -- (SBWire) -- 04/29/2021 --The report "Yoga and Exercise Mats Market by Material (Polyvinyl Chloride, Natural Rubber, Polyurethane, Thermoplastic Elastomer, Others), Distribution Channel (E-Commerce, Supermarket & Hypermarket, Specialty Store), End-Use, Region - Global Forecast to 2026", 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. The market growth is driven by the rising awareness regarding healthy lifestyles along with the rising popularity of yoga.
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The polyvinyl chloride segment accounted for the largest share of the yoga and exercise mats market in 2020.
By material, the polyvinyl chloride segment accounted for the largest market share in 2020. Polyvinyl chloride is used for manufacturing yoga and exercise mats as it is cheaper than other polymers, provides flexibility, durability, and is also easier to wash in comparison to other materials. Hence, polyvinyl chloride is preferred for manufacturing low-cost yoga and exercise mats. The use of polyvinyl chloride yoga and exercise mats is observed to be higher in developing countries, such as India, Brazil, Argentina, and Mexico.
The e-commerce segment accounted for the largest share of the yoga and exercise mats market in 2020.
By distribution channel, the e-commerce segment accounted for the largest share of the yoga and exercise mats market in 2020. Fitness products, such as yoga and exercise mats, witnessed a high demand due to the 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. This distribution channel has been growing due to the advancements in technology and internet accessibility.
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The personal segment accounted for the largest share of the yoga and exercise mats market in 2020.
By material, the personal segment accounted for the largest market share in 2020. Yoga and exercise mats witness increased adoption for at-home workouts, as they are used as heat protectors, absorbing wipes, in garden laying, and other recreational activities. Yoga and exercise mats have more uses than their basic functions, due to which its consumption has been steadily increasing in the consumer market. This is projected to drive the growth of the yoga and exercise mats market during the forecast period.
Asia Pacific accounted for the largest share in the global yoga and exercise mats market in 2020
Asia Pacific accounted for the largest share of the yoga and exercise mats market in 2020. The countries considered for study in the Asia Pacific yoga and exercise mats market include China, India, Japan, South Korea, Malaysia, Thailand, Australia, and Singapore. According to the UN study, the number of yoga practitioners is maximum in the Asia Pacific region. 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.
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), La Vie Boheme Yoga (US), Accessory Arcade (India), Eupromed S.R.O. (Czech Republic), Ningbo Mylon Rubber & Plastic Co., Ltd. (China), Winboss International Co., Ltd (Taiwan), Xiamen Sanfan Sports Products Co, Ltd. (China), Alo Yoga (US), TEGO (India), Ecoyoga (US), Shenzhen Haifuxing Technology Co., Ltd (China), Shanghai Fitness Sourcing Inc. (China), Fitness Mats (India), and Yoga Direct LLC (US), among others are the key players operating in the yoga and exercise mats market.
Recent Developments :
- In July 2020, Lululemon Athletica Inc. entered into a definitive agreement to acquire MIRROR (US), an in-home fitness company, for a valuation of USD 500 million. MIRROR offers a mirror-style product that mimics an in-studio experience, as well as more than 70 new classes and over 40 class types per week, including strength training, weight training, pre-and post-natal workouts, and yoga. This acquisition is expected to enhance the annual sale of yoga mats by Lululemon Athletica Inc.
- In May 2020, Columbia Sportswear Company (CSC) entered into a definitive agreement with Steelpoint Capital Partners (US) and other minority members to acquire all controlling interests of the yoga-inspired prAna apparel brand. prAna will join CSC's portfolio of authentic, active outdoor brands and is expected to propel CSC into the yoga and exercise mats market.
- In January 2019, Columbia Sportswear Company (CSC) acquired the remaining 40% interest in Columbia Sportswear Commercial (Shanghai) Company, its joint venture in China with Swire Resources Limited. The joint venture began operations on January 1, 2014, with headquarters in Shanghai, China. This acquisition enhanced the distribution channel of CSC in the South-East Asian region.
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Yoga and Exercise Mats Market Worth $15.2 Billion by 2026 : Growing , at a CAGR of 5.3%
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) among others are the key players operating in the yoga and exercise mats market.