LONDON--(BUSINESS WIRE)--The yoga mat market is likely to experience steady growth because of product premiumization owing to innovation in yoga accessories, and the growing obese population and increasing health consciousness. Rising at a CAGR of over 6%, the market is estimated to have an incremental growth of USD 480.87 million by 2024. Download Free Sample Report
A Technavio analyst says, "The extension of containment efforts due to the spread of COVID-19 has severely impacted businesses and economic activities worldwide. If the containment efforts go beyond Q2 2020, the global yoga mat market will witness a significant downsurge compared to our base case estimate."
Technavio’s recent analysis of the yoga mat market includes a detailed examination of its revenue forecasts, including market drivers and challenges, key market participants, and growth opportunities. The study segments the markets in North America, Europe, APAC, South America, and MEA, geographically. The North America region is expected to have a market share of 34% and will offer significant growth opportunities for market players during the forecast period.
For further information on this analysis, please visit: https://www.technavio.com/report/yoga-mat-market-industry-analysis
Inconsistent pricing of raw materials and the rising popularity of outdoor sports activities might hamper market growth. However, wellness initiatives being undertaken by government and corporate agencies will positively influence the growth of the global yoga mat market.
Technavio’s analysis of the yoga mat market also includes:
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will drive the yoga mat market growth during the next five years
- Precise estimation of the yoga mat market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the yoga mat market industry across North America, Europe, APAC, South America, and MEA
- A thorough analysis of the market’s competitive landscape
- Comprehensive details of factors that will challenge the growth of yoga mat market vendors
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