Middle East & Africa Yoga Accessories Market Outlook, 2027
For a long time, yoga was not seen as acceptable in the conservative Islamic kingdom. Because yoga was primarily considered a Hindu practice, yoga was not allowed in Saudi Arabia for decades. Extremists challenged the notion that yoga was incompatible with Islamic practices. The market got a boost when yoga received formal recognition as a sporting activity in November 2017. This has allayed the misplaced fears among many in the Arab and the Muslim World that the practice of Yoga was incompatible with Islamic beliefs and gave confidence to several Muslim Yoga practitioners around the world.
According to the report, “Middle East & Africa Yoga Accessories Market Outlook, 2027” published by Bonafide Research, the market witnessed over 1 Billion difference in revenue share from 2016 to 2027. Further, the market is anticipated to grow with more than 12% CAGR during the forecast period. The past year, especially the months under the shadow of the Covid pandemic have led to increased awareness about personal health. Residents of the region have started investing in wearable devices, fitness apps, and telemedicine services to keep track of the wellbeing of their bodies and mind. The yoga clothing segment wasn’t able to make for much of the market share given the region’s clothing restrictions and beliefs.
The online sales segment in the region dominated because of the lack of awareness and the availability of these products through the local vendors. The online segment accounted for more than 65% of the region’s share. The key is to have flexibility within a structured, data-driven process. Some players have driven growth by broadening their delivery assortment. Against this, the offline sales channel segment is to grow with a growth rate of more than 11%. 47 Islamic nations among the 177 countries of the United Nations General Assembly (UNGA) officially co-sponsored with India, a resolution to establish the International Day of Yoga. Afghanistan, Bangladesh, Turkey, Iran, Indonesia, UAE, Qatar, and Oman were among the Islamic nations that co-sponsored the UN resolution. Arab countries have begun to practice yoga, most specifically in Saudi Arabia and Egypt. In 2010, the formation of the Arab Yoga Foundation provided a platform for Yoga enthusiasts to practice Yoga and remain connected. South Africa is expected to be dominating the region with the highest share by the end of the forecasted period.
Mega brands such as Reebok and Nike do not track yoga accessories as a separate category but say there has been a jump in demand for accessories used for practice. Major companies mentioned in the report are: Adidas AG, Aurorae, Barefoot Yoga Co, Gaiam, Hugger Mugger Yoga Products LLC, LululemonAthleticaInc, Manduka LLC, Nike INC.
Major Companies Present In the Market
Adidas AG, Lululemon Athletica Inc, Manduka, Nike Inc
Considered In the Report
• Geography: Middle East & Africa
• Historical year: 2016
• Base year: 2021
• Estimated year: 2022
• Forecasted year: 2027
• Saudi Arabia
• South Africa
Aspects Covered In the Report
• Market Size By Value for the historic time period (2016-2021)
• Market Size By Value for the forecast time period (2022-2027)
• Market Share by Product (Mats, Clothing, Straps, Blocks, others)
• Market Share by Sales Channel (Online & Offline)
• Market Share by Region (2016, 2021 & 2027F)
• Market Share by Country (2016, 2021 & 2027F)
The approach of the report:
We keep an eye on evolving markets and try to evaluate the potential of the products and services. If we find the market interesting, we start working on it and create the desired table of content, considering all aspects of the business. We start by creating separate questionnaires for C-level executives, national/regional sales personnel, company owners, dealers, distributors, and end-users. Once the questionnaires have been finalized, we start collecting the primary data (mostly through phone calls) and try to understand the market dynamics regionally or tier-wise. This process gives us in-depth details of the market, including all present companies, the top-performing products with reasons why they dominate; we get the details of new players and their innovative approaches; market trends; dynamics; and all the small details of the market. After the collection of primary inputs, we then cross-check the same with secondary sources that include associations, trade journals, annual reports, paid databases, newspapers, magazines, press releases, government sources, etc. From this, we get a rough estimate of the market and start checking existing product price variants, trade, production, raw material scenarios, policies and regulatory landscape, etc. Then, to finalize the market, we start collecting financials of each player present in the market, including limited, private limited, and LLPs. Moreover, we perform cross-industry and cross-region analysis of the product, and based on collected primary inputs and using statistical modeling, we start forecasting the market. We follow our forecasting algorithm, which is unique for each product but gives more weight age to primary inputs. At the same time, the content team starts preparing company profiles, market dynamics, market trends, five forces, PEST analysis, etc. Once the data is verified by the data expert, the team (primary team, content team, and data team) together crosscheck the segmentations, validate the market, and then the designing team starts plotting the graphs. Once the file is ready, the content team completes the report and makes sure that all the discussed points have been covered and provides their valuable inputs in the form of strategic recommendations for new as well as existing players. The QC team then checks the overall report that includes spell check, data verification, and makes the same dispatch ready and error-free.
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the yoga accessories manufacture industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.
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