The global yoga product market registered a phenomenal growth in the year 2018. The industry grew by an estimated 5.8% on a year-on-year basis. The increase is expected to continue all across the globe at a compound annual growth rate of 7% between the years 2019-2023. The increase in the industry is expected to grow by $876.78 million in the same period. The industry is characterized by several key factors, with each factor playing a critical role-playing a crucial role in the growth of the sector.
When it comes to the yoga product market, there is a slew of factors that affect the growth prospects of the industry. Rising awareness about yoga and its advantages, coupled with the easy availability of products, has helped the industry grow by leap and bound. On the other hand, the rise in disposable income, coupled with a robust supply chain, has helped the industry flourish all across the globe. The industry is still in its nascent stages and is expected to proliferate further all around the world.
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However, despite the growth opportunities, the industry is looked at with skeptic’s eyes. The lack of awareness and the absence of trained professionals has been hurting the growth sentiments of the industry. However, despite the challenges, the analysts remain positive about the growing concerns of the industry. The rapid globalization and innovation in the product category have propelled the growth of the sector. This, in turn, has garnered the attention of major investors across the globe who have been investing aggressively in the growth of the industry.
The yoga product industry can be segmented upon a wide range of factors, with each element playing a crucial role in the growth of the sector. Segmentations enable one to look at the industry from multiple perspectives. This, in turn, has helped the industry grow by leaps and bounds all across the globe. However, two significant factors that affect the growth prospects of the industry are product type and distribution channel. Based on the product type, the industry is segmented into yoga mats, yoga bricks, yoga straps, and yoga clothes. On the other hand, based on the distribution channel, the industry is segmented into hypermarkets, supermarkets, specialty stores, and online channels like e-commerce websites.
The yoga product industry finds the largest market in the Asia Pacific region on the grounds of extensive practice in the area. India and China lead in the area, followed by other major nations in the area. North America and Europe show promising signs of growth too. The rise in the awareness of individuals, coupled with high disposable income, has helped the industry proliferate all across the globe.
In May of 2019, India’s largest e-commerce house Flipkart launched a private label named Adrenex. The private label will sell sports and fitness items only. One of the major products include yoga mats. Other sports item include dumbbells and volleyballs. The industry is excited about the launch and hence is expected to grow by leaps and bounds.
Table Of Content:
1 Report Overview
2 Global Growth Trends by Regions
3 Competition Landscape by Key Players
4 Breakdown Data by Type (2015-2026)
5 Cloud ITSM Breakdown Data by Application (2015-2026)
6 North America
10 Southeast Asia
12 Central & South America
13Key Players Profiles
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