Rising Popularity of Yoga Worldwide to Augment the Yoga Accessories Market Growth

 

Yoga is a group of mental, physical, and spiritual practices or disciplines that originated in ancient India. With time, people have discovered several health benefits associated with yoga. Yoga improves posture, increases flexibility, builds muscle strength, helps in lowering blood sugar, boosts metabolism, increases blood flow, increases self-esteem, keeps diseases at bay, helps you sleep better, and improves lung function. Accessories that one may need while doing yoga include yoga mats, yoga straps, yoga clothes, yoga bricks, yoga wheel, yoga belt, yoga wedge, yoga towel, exercise ball, yoga CD’s, etc.

Many factors are driving the overall growth of the yoga accessories market. The rising popularity of yoga, as well as the growing awareness among health-conscious people worldwide, is one of the key driving factors for the market growth. The number of ‘yogis’ has increased by more than 50% in the last few years. Growing concerns about health and fitness due to the rising health problems (such as obesity) has led to the increasing adoption of Yoga, which, in turn, boost the market growth. Moreover, people are signing up for yoga classes and performing different asanas to adopt a healthier lifestyle. Thus, the increasing number of yoga studios worldwide is also expected to propel the growth of the yoga accessories market.

The increasing popularity of yoga is increasing the demand for yoga accessories across the globe. Moreover, to avoid adverse impacts on the environment, manufacturers are switching to recyclable raw materials and biodegradable products for the development of these accessories. Manufacturers are opting for raw materials such as cotton, jute, and natural rubber over synthetic rubber, nylon, and polyurethane for eco-friendly yoga mats. Moreover, governments are focusing on initiatives to promote yoga and health benefits from yoga. For instance, in 2018, the Indian government allocated INR 1000 Cr for the development of the AYUSH (the Ayurveda, Yoga and Naturopathy, Unani, Siddha and Homoeopathy) system of medicine to promote yoga across the nation. These factors are expected to aid market growth.

In terms of geography, the yoga accessories market is divided into six regions, such as North America, Europe, Asia Pacific, South America, the Middle East, and Africa. Major players in the market are focusing on innovative and technologically advanced products to increase sales of yoga accessories. For instance, in 2017, Indiegogo developed smart mat technology that provides the practitioner with vital information about body alignment and the correctness of the postures. The smart mat is embedded with over 20,000 sensors. Moreover, in 2019, Flipkart launched private sports and fitness brand, Adrenex, which includes products such as yoga mats.