Yoga accessories market size to grow by USD 6,159.41 million from 2022 to 2027: A descriptive analysis of customer landscape, vendor assessment, and market dynamics

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20 Dec, 2022, 01:30 ET

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NEW YORK, Dec. 20, 2022 /PRNewswire/ -- Technavio categorizes the global yoga accessories market as a part of the global leisure products industry, which covers a variety of categories, including yoga accessories, musical instruments, camping equipment, recreational vehicles, bicycles, toys, and other consumer-oriented games. The global yoga accessories market size is estimated to increase by USD 6,159.41 million between 2022 and 2027. The market's growth momentum will progress at a CAGR of 6.9%.

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Global yoga accessories market – Vendor analysis

Vendor offerings

Vendor landscape

The global yoga accessories market is fragmented, with the presence of with numerous market vendors and a few established players. A few prominent vendors that offer yoga accessories in the market are 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. and others.

Vendors compete on many factors, including price, quality, technology, brand, and variety. Different companies adopt diverse marketing strategies to increase their market share. Prominent vendors have adopted the practice of sustainability, which is essential for future production. They are expected to expand their presence in low-penetrated markets such as developing countries. As a result, the market is expected to experience a sizable production capacity growth. A rise in production capacity will enable vendors to meet the surging demand for yoga accessories. In addition, the increasing number of health clubs and gyms will contribute to the growth and expansion of the market.

Global yoga accessories market - Customer landscapeTo help companies evaluate and develop growth strategies, the report outlines –

Global yoga accessories market - Segmentation assessmentSegment overviewTechnavio has segmented the market based on product (yoga mats, yoga straps, yoga blocks, and others) and distribution channel (offline and online).

Geography overviewBased on geography, the global yoga accessories market is segmented into North America, Europe, APAC, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global yoga accessories market.

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Global yoga accessories market – Market dynamics

Leading drivers - The growing number of yoga practitioners is driving the market growth. The popularity of yoga is increasing, especially in North America. For instance, the number of yoga practitioners in the US rose by more than 11% in 2018 when compared to 6.40% in 2012. The benefits of yoga, such as stress relief, general fitness, flexibility, and overall development of health, are the main reasons behind this growth. The increasing awareness about yoga and the subsequent rise in the number of yoga practitioners globally will influence the sales of yoga products, including accessories. These factors will drive the growth of the global yoga accessories market during the forecast period.

Key trends - Growing enrolment in fitness and health clubs is a key trend in the yoga accessories market. Yoga products, including accessories, are used in health and fitness clubs for purposes such as weight training, limbering down, yoga, and general fitness exercises. The number of health and fitness clubs is expected to expand during the forecast period, which may increase the sales of yoga accessories. Many clubs offer exclusive packages to attract customers and increase their sales. Premium customers can get benefits such as free workouts and yoga. Thus, the rise in the number of memberships in health and fitness clubs has increased the demand for yoga products, including yoga accessories.

Major challenges - Fluctuating raw material prices are challenging the yoga accessories market growth. The profit margins of key manufacturers such as Lululemon Athletica are fluctuating due to the volatility in the prices of raw materials. For instance, the prices of synthetic fibers keep fluctuating, which increases the prices of yoga accessories made from these raw materials. In addition, cost-driven end-users prefer lower-priced yoga products, including accessories, which reduces the sales potential and revenue of global players. Such factors are hampering the growth of the market.

Drivers, trends, and challenges have an impact on market dynamics, which can impact businesses. Find some insights from a sample report!

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Yoga Accessories Market Scope

Report Coverage

Details

Page number

165

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 6.9%

Market growth 2023-2027

USD 6,159.41 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

6.1

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

North America at 38%

Key countries

US, China, UK, Germany, and France

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

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.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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Table of contents

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Product

7 Market Segmentation by Distribution Channel

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

About UsTechnavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

ContactTechnavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: [email protected]Website: www.technavio.com/

SOURCE Technavio