Yoga and Exercise Mats Market in North America 2017-2021
About Yoga and Exercise Mats
The market is largely driven by the growing culture and adoption of yoga and other fitness programs in the region. This will directly influence the sales of yoga and exercise mats in the region. Various organizations in the region conduct yoga festivals and events to promote this ancient art to make people aware of the benefits of practicing yoga. The growing awareness of yoga in the region pushes the yoga and exercise mats vendors to promote their products in the North American market. In addition, the high obesity rates in the region also trigger the need for an increase in physical activities among the population. Due to such health concerns, people are adopting various fitness regimes such as general fitness exercises, yoga, and weight trainings.
Technavio’s analysts forecast the yoga and exercise mats market in North America to grow at a CAGR of 5.12% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the yoga and exercise mats market in North America for 2017-2021. To calculate the market size, end-users such as individual consumers, fitness centers and health clubs, and yoga studios are being considered.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Yoga and Exercise Mats Market in North America 2017-2021
Technavio recognizes the following companies as the key players in the yoga and exercise mats market in North America: Barefoot Yoga, Gaiam, JadeYoga, and Manduka.
Other Prominent Vendors in the market are: Adidas, Body-Solid, HuggerMugger, Indiegogo, La Vie Boheme Yoga, Merrithew, Nike, prAna, TriMax Sports, and YogaDirect.
Commenting on the report, an analyst from Technavio’s team said: “One trend in market is increasing focus on the use of sustainable raw materials. The manufacturers of the yoga mats and exercise mats are looking to use sustainable raw materials which are biodegradable in nature. The increasing popularity of yoga and fitness in the region has also triggered the growth of the sale of fitness equipment, clothing and accessories in North America.”
According to the report, one driver in market is growing popularity of yoga. Yoga is an ancient form of workout and meditation that originated in India. In recent years, yoga has gained significant popularity in Western countries, particularly in North America. The popularity of yoga in the US and Canada is increasing; and North America at large posted a significant acceptance of yoga in the last few years. In 2016, there were more than 35 million yoga practitioners in the US, which posted a significant growth as compared to the 20 million in 2012. People are increasingly opting for yoga due to the various health benefits associated with this ancient form of workout and meditation, which include stress relief, flexibility, general fitness, and the overall positive impact on one's health. Apart from the US, yoga is also becoming popular in Canada. In 2016, various yoga festivals and conferences were organized in Canada to increase the awareness of the benefits of practicing yoga among the population.
Further, the report states that one challenges in market is raw material supply constraints. North America is one of the largest importers of the natural rubber from the Asian countries. In 2015 China and the US were the top two countries that imported the highest dollar value of natural rubber in the country. In 2015, the US imported natural rubber worth around $2 billion, similarly Canada also imported natural rubber worth close to $240 million during the same period. Meanwhile, in 2015 Indonesia, Thailand, and Malaysia were the three top countries from where the US imported its maximum worth natural rubber. However, in early 2017 Indonesia, Malaysia, and Thailand have agreed to cut the exports of natural rubber by around 680,000 metric tons from March 2017 till six months so that the natural rubber can be exported at higher prices. This may lead to an increase in the natural rubber import prices in the US and Canada, which may directly impact the price of yoga and exercise mats as natural rubber is one of the major raw materials of these mats. The surge in the import price of natural rubber may increase the manufacturing cost of yoga and exercise mats and reduce the profit margin of the yoga and exercise mat manufacturers.
Barefoot Yoga, Gaiam, JadeYoga, Manduka, Adidas, Body-Solid, HuggerMugger, Indiegogo, La Vie Boheme Yoga, Merrithew, Nike, prAna, TriMax Sports, and YogaDirect.