Global Yoga Mat Market Overview:
Yoga mats can be defined as specially-fabricated mats, which are used as surfaces on which to perform yoga exercises. There are different styles and types of yoga mats, which may be used as per the needs of the consumer. Yoga mats can be of diverse sizes, thickness, density, colours, qualities, textures, and materials. They aid in the improvement of body balance and coordination, which people may otherwise lack. The use of these mats’ aids in the prevention of injuries caused through slipping while doing yoga poses. Therefore, it is advisable to do yoga on a mat rather than on the bare floor. The yoga mat also aids in keeping the body warm and the energy generated is retained within the body rather than passing on to the floor. They are commonly used in households and yoga clubs, and their portability makes them usable everywhere.
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Global Yoga Mat Market Size and Share Analysis:
The global yoga mat market was valued at $1,107.75 million in 2016 and is estimated to grow at a CAGR of 8.81% till 2023 up to reach $2,000.98 million. The major markets for this segment are North America, Asia Pacific, Europe, and Latin America. The yoga market is growing huge in North America and this has propelled the growth of the market. Asia Pacific, from whose land the concept was originated, has a huge and robust growing market.
Major Players in Global Yoga Mat Market:
The major players in this market are Lululemon, Manduka PROlite, Jade Yoga, Hugger Mugger Para Rubber, PrAna Revolutionary, HATHAYOGA, Kharma Khare etc.
The latest trend gaining momentum in the market is increasing focus on the use of sustainable raw materials. The increasing popularity of yoga and fitness has also triggered the growth of the sales of yoga clothing and accessories worldwide. Manufacturers are focusing on using natural and recyclable raw materials for the yoga mats, which are biodegradable to avoid any negative impact on the environment.
Factors effecting on Growth of the Market:
One of the major factors hindering the growth of this market is inconsistent pricing of the raw materials. Rubber and plastic are the basic raw materials used in the manufacturing of yoga mats and manufacturers are exposed to risks arising from price changes for raw materials used in the manufacturing of these mats. Volatile prices of raw materials or commodities considerably affect the profit margins of manufacturers. However, the growth in the fitness industry and subsequent growth in the yoga industry is expected to keep the market growing for years to come.
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