Yoga Clothing Market will Exceed US $70,291.0 million by 2030, with a projected CAGR of 7.8% from 2021 to 2030
Yoga Clothing Market Report
U.S. is the most prominent market in North America, and is projected to reach $5,855.5 million by 2030, growing at a CAGR of 6.4% during the forecast period.
PORTLAND, OREGON, UNITED STATES, May 29, 2023/EINPresswire.com/ -- According to a new report published by Allied Market Research, titled, “Yoga Clothing Market by Product Type, End User, and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2021–2030,” the global yoga clothing market size is expected to reach $70,291.0 million by 2030 at a CAGR of 7.8% from 2021 to 2030.
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Yoga is a combination of spiritual, physical, and mental discipline originated in India. It is a holistic discipline based on an extremely subtle science, majorly focusing on bringing harmony between body and mind. Yoga is well-known for promotion of health, management, disease prevention, of many lifestyle-related disorders. In addition, practicing yoga improves strength, flexibility, breathing & lung capacity, and posture. It thus aids in managing anxiety, stress, depression, and other chronic diseases. The rising awareness regarding the mental and physical health benefits of practicing yoga is compelling the population to increasingly join yoga classes, thereby increasing the number of yoga participants. The rising number of yoga participants is a significant driver of the global yoga clothing market.
The yoga clothing market growth is propelled by alarming surge in incidence of obesity and health-related diseases. In addition, consumers are increasingly following fitness practices such as yoga and are engaged in purchasing accessories for the same such as yoga clothing, blocks, and yoga mats, which boost the growth of the global yoga clothing market. Furthermore, governments of various countries and yoga & fitness clubs have been actively engaged in promoting yoga worldwide, which has resulted in increased awareness of benefits of yoga globally. For instance, the Indian Prime Minister Narendra Modi proposed the idea of International Yoga Day at United Nations General Assembly (UNGA) in 2014. This encouraged people worldwide to practice and get involved in yoga and Pilates. Moreover, in 2016, the Indian Prime Minister asked his ministers to make Yoga a mass movement. All these factors collectively are anticipated to increase the number of yoga practitioners, which, in turn, will propel the demand for yoga clothing, thereby driving the growth of the global yoga clothing market.
The outbreak of COVID-19 pandemic resulted in increased participation in yoga and other fitness activities. People became more health conscious and started practicing yoga by learning on online platforms. However, the manufacturing plants of apparels were halted during the initial phase of lockdown restrictions and there were significant disruptions in the supply chain. This resulted in certain loss to the yoga clothing industry.
According to the global yoga clothing market analysis, the market is segmented on the basis of product type, end user, and distribution channel. On the basis of product type, the market is segregated into top wear and bottom wear. On the basis of end user, it is classified into men and women. On the basis of distribution channel, the yoga clothing market is segmented into supermarkets/hypermarkets, specialty stores, e-commerce, and others.
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On the basis of region, the yoga clothing market is analyzed across North America (U.S., Canada, and Mexico), Europe (UK, Germany, France, Spain, Netherlands, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
According to the yoga clothing market forecast, on the basis of product type, the top wear segment is expected to be the fastest-growing segment owing to the growing number of yoga practitioners owing to the rising prevalence of obesity among the global population. Upsurge in investment in R&D to enhance characteristics, usability, effectiveness, and comfort of yoga clothing is anticipated to propel the market growth.
On the basis of the end user, the women segment accounted for 60.9% of the overall market share. The increased awareness among the women regarding the body aesthetics is propelling the women participation in yoga. Further, female celebrities such as Kim Kardashian, Demi Moore, Madonna, Shilpa Shetty, Kareena Kapoor, and Bipasha Basu encourages the female population to indulge in yoga activities.
As per the yoga clothing market trends, on the basis of distribution channel, the specialty stores segment accounted for 60.8% in 2020 due to their increased penetration in the developed markets like North America and Europe.
Players operating in the yoga clothing market have used a variety of developmental strategies to expand their market share, exploit the yoga clothing market opportunities, and boost market profitability. The key players profiled in this report include Nike, Puma, Asics, Under Armour, Inc., Adidas, Lululemon Athletica, Manduka, Prana, Hugger Mugger, and Aurorae Yoga, LLC.
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Key findings of the study
The yoga clothing market was valued at $33,680.0 million in 2020, and is estimated to reach $70,291.0 million by 2030, growing at a CAGR of 7.8% during the forecast period.
By product type, the bottom wear segment is estimated to witness the fastest growth, registering a CAGR of 8.1% during the forecast period.
In 2020, depending on end user, the women segment was valued at $20,520.7 million, accounting for 60.9% of the global yoga clothing market share.
In 2020, the U.S. was the most prominent market in North America, and is projected to reach $5,855.5 million by 2030, growing at a CAGR of 6.4% during the forecast period.
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David Correa
Allied Analytics LLP
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