Global Yoga Accessories Market 2019-2023 | 7% CAGR Projection Over the Next Five Years | Technavio
LONDON--(BUSINESS WIRE)--Dec 3, 2019--
The yoga accessories market size is expected to post a CAGR of close to 7% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled global yoga accessories market 2019-2023. (Graphic: Business Wire)
Product premiumization due to increasing innovation will be one of the major factors behind the yoga accessories market growth. Vendors are offering innovative yoga accessories such as reversible mats, which are made from natural rubber along with eco-friendly mats that are developed from jute. These mats are designed with antimicrobial additives that helps 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.
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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 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Yoga Accessories Market: Increasing Introduction of Smart Mats
Several 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. Several 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.
“Other factors such as the growing enrolment in fitness and health clubs, and the increase in availability of custom yoga mats will have a significant impact on the growth of the yoga accessories market value during the forecast period,” says a senior analyst at Technavio.
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Yoga Accessories Market: Segmentation Analysis
This market research report segments the yoga accessories market by distribution channel (offline and online), products (yoga mats, yoga straps, yoga blocks, and others), and geography (North America, APAC, Europe, South America, and MEA).
The North American region led the yoga accessories market in 2018, followed by Europe, APAC, South America, and MEA respectively. The growth of the yoga accessories market share in North America can be attributed to several factors such as the rising participation in regular fitness activities, and the introduction of new product offerings by vendors in the region.
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Some of the key topics covered in the report include:
Five Forces Analysis
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SOURCE: Technavio Research
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PUB: 12/03/2019 12:00 PM/DISC: 12/03/2019 12:01 PM