LONDON--(BUSINESS WIRE)--The global yoga accessories market is expected to post a CAGR of close to 7% during the period 2019-2023, according to the latest market research report by Technavio.
Vendors are offering innovative yoga accessories developed from natural jute and rubber. For instance, manufacturers are coming out with reversible mats, which are made from natural rubber. These mats are designed with an antimicrobial additive that helps to prevent mold and mildew on the mat. Such innovations are driving the market and consumers are willing to invest heavily in these premium products due to factors such as superior quality and durability. The launch of such innovative and premium products will help vendors widen their profit margins and gain a competitive edge during the forecast period.
As per Technavio, the increasing introduction of smart mats will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global yoga accessories market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
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Global yoga accessories market: Increasing introduction of smart mats
With smart mats trending in the global yoga accessories market, many manufacturers are continuously looking to improve yoga mats with additional features to increase customer satisfaction. One of the trending innovations in the field of yoga mats is smart connectivity using Wi-Fi and Bluetooth. Such smart mats can be monitored through mobile apps installed on smart gadgets. To garner customer attention and increase their market shares, manufacturers are focusing on introducing the smart connectivity feature in their upcoming yoga accessories. For instance, SmartMat is a portable yoga mat, which helps track and improve yoga practice by learning a users’ position and suggesting incremental improvements towards achieving the perfect position. Thus, with such advanced features, the global market is expected to witness a positive outlook during the forecast period.
“Along with the increasing introduction of smart mats, the growing number of yoga practitioners, the increasing wellness initiatives by government and corporate agencies and the rising availability of custom-made yoga mats are factors that will contribute to the growth of the global yoga accessories market,” says a senior analyst at Technavio.
Global yoga accessories market: Segmentation analysis
This market research report segments the global yoga accessories market by product (yoga mats, yoga straps, yoga blocks, others), by distribution channel (offline and online) and geographical regions (North America, Europe, APAC, South America, and MEA).
The North American region led the market in 2018, followed by Europe, APAC, South America, and MEA respectively. However, during the forecast period, the APAC region is expected to register the highest incremental growth due to increasing cases of obesity, and the adoption of healthy lifestyles.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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