Yoga Mat Market Analysis & Evolving Opportunities Studied for the Period until 2028

From: Fact Market Research
Published: Mon Jul 15 2019

Sales of personal exercise mats exceeded 130 thousand units in 2018, according to a recent Fact.MR study. By the end of 2019, the sales are envisaged to register a Y-o-Y growth of 7%. While a paradigm shift of consumers to healthier lifestyle practices has been a prominent factor underpinning sales of personal exercise mats among individuals, the report expects an increasing number of institutional buyers to emerge as a strong demand determinant in the years to come.

"While the rising costs and health issues may seem like doom and gloom, personal exercise mats manufacturers look forward to capitalize on consumers’ increased focus on overall wellness. Growing participation of consumers in physical activities, coupled with a significant rise in the adoption of yoga as a part of curriculum across various academic institutions, has translated into a significant hike in sales of personal exercise mats," says the analyst at Fact.MR.

This Fact.MR study provides a long-term outlook of the personal exercise mats market for the period, 2018 to 2028. The Yoga Mat Market is envisaged to register a CAGR of ~7% through 2028.

Personal Exercise Mats Market in Numbers

Yoga Mat Market was valuated at ~US$ 2 Bn in 2018. The proliferating trend of ‘health & fitness’ and rising preference for gyming and yoga are touted as the key demand determinants.

Estimated to witness a robust ~7% CAGR through 2028, the personal exercise mats market is likely to remain influenced by the growing consumer awareness about the preventative care.

North America is anticipated to be the leading market for personal exercise mats, in line with the growing number of yoga studios, fitness clubs, and wellness centers. Institutional buyers have been promoting personal exercise mats among consumers, within the region.

Looking at the expanse of health & fitness industry across the South Asian region, it is likely to remain a high growth market for personal exercise mats sales.

Use of sustainable materials in the making of personal exercise mats is currently trending among leading manufacturers.

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Key Factors Determining Growth of the Yoga Mat Market

Growing adoption for yoga and other fitness programs, coupled with shifting focus of consumers to total well-being, has been substantially favoring the sales of personal exercise mats, such as yoga mats. The expanding workout and wellness culture continues to nourish the growth of manufacturers that are offering value added products with appealing discounts.

The proliferating health and wellness industry, primarily driven by influencers and celebrities that are increasingly sharing daily workout regimes on social channels, continue to keep personal exercise mats market attractiveness intact, particularly among millennial. Growing focus of brands on leveraging celebrity impact to appeal consumers to make a purchasing decision is likely to reinforce the position of personal exercise mats market in near future.

While consumers are feeling the pinch of rising health care costs, a plethora of physical wellness related activities have taken a center stage in their life. Brands are capitalizing on consumers’ increased focus on health and wellness with their multipurpose product offerings, such as personal exercise mats for yoga and fitness activities.

Growing focus of manufacturers on offering eco-friendly and non-toxic material based personal exercise mats in line with shifting consumer preference for greener products is likely to translate into steady growth of the market. Development of yoga mats that are composed of recycled foam to offer the highest level of comfort and stability to the customers has witnessed a marked adoption in recent years.

Rising popularity of yoga, particularly in Western countries is favoring the sales of yoga equipment and accessories, such as mats.

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