The global yoga apparel market is expected to grow at a CAGR of more than 3% during the forecast period, 2017-2021.
Technavio has announced its latest market research report on the global yoga apparel market, under its retail goods and services portfolio. This market analysis discusses the major drivers and key emerging trends and offers an analysis of key vendors like Adidas, Manduka, Nike, Puma, Under Armour, and VF Corporation.
According to Poonam Saini, a lead analyst for retail goods and services research at Technavio, “The popularity of yoga in the US and Canada is increasing rapidly. For instance, in 2016 there were more than 35 million people practicing yoga in the US as compared to around 20 million yoga practitioners in 2012. The growing inclination towards practising yoga is driven by benefits such as the stress relief, flexibility, general fitness, and overall development of health.”
Growing awareness about yoga in most parts of the world coupled with increased participation in this ancient art form has a direct and positive impact on the sale of yoga apparel across the world. This is attributed to many investments by people in yoga equipment, clothing, and accessories. These clothing and accessories are essential to perform yoga, with yoga apparel being one of the most important.
Technological advances in product features
Growing competition among the global players has paved the way for the development of innovative fitness apparel, including yoga apparel with a focus on improving user-experience. Consequently, leading players are launching products with advanced technologies, which can improve their overall fitness experience. For instance, Ralph Lauren has recently launched a new Polo Tech Shirt that is weaved with bio-sensing silver fibers. Manufacturers have also made great advances in protective materials that are called reactive materials. The availability of such technologically advanced products in the market is expected to propel the adoption of yoga apparel in the global market.
Increasing focus on use of sustainable raw materials
Vendors are catering to the rising demand for sustainable products by increasingly focusing on manufacturing products that can reduce negative effects on the environment. The manufacturers of yoga apparel are looking to use the sustainable raw materials, which are biodegradable in nature. The increasing popularity of yoga and fitness has also triggered the growth of the sale of fitness and yoga equipment, clothing, and accessories. As a result, the manufacturers are focusing on using natural and recyclable raw materials for their products.
This research report includes an in-depth analysis and market shares and sizes of the sub-segments and geography. An analysis of the key companies, including their market shares, business overview, key financials, etc. is provided in this study. This market study also provides a detailed analysis of key drivers, challenges, and opportunities influencing this market.
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