Growing at a CAGR of 7.8 per cent from 2021-30, the global yoga clothing market is projected to reach a value of $70,291.0 million by 2030, as per a report by Allied Market Research.
This expansion is largely fueled by a significant increase in obesity rates and health-related ailments worldwide, driving more consumers to embrace fitness practices like yoga.
The market's growth is also propelled by the rising consumer inclination to purchase specialized accessories, including yoga apparel, blocks, and mats. Furthermore, concerted efforts by governments and fitness organizations globally to promote yoga have substantially heightened awareness of its numerous health benefits.
By product type, the bottom wear segment is anticipated to experience the fastest growth, with an estimated CAGR of 8.1 per cent during the forecast period. This growth is linked to the increasing number of yoga practitioners and ongoing R&D investments aimed at enhancing the comfort and functionality of yoga wear.
In terms of end-users, the women's segment dominated the market in 2020, valued at $20,520.7 million and capturing 60.9 per cent of the global share. This dominance is attributed to increased aesthetic awareness among women and the influence of female celebrities promoting yoga.
Regionally, North America remains a prominent market, with the US leading the charge. The US market is projected to reach $5,855.5 million by 2030, growing at a CAGR of 6.4 per cent0. Specialty stores were the leading distribution channel in 2020, accounting for 60.8 per cent of the market, primarily due to their strong presence in developed markets like North America and Europe.
The COVID-19 pandemic spurred increased participation in yoga and home-based fitness activities as people became more health-conscious and utilized online platforms. However, the initial lockdown phases led to manufacturing halts and supply chain disruptions, causing some losses for the yoga clothing industry. Despite these short-term setbacks, the underlying trend of increased health awareness reinforced the long-term growth prospects for the market.
Leading players in the yoga clothing market, including Nike, Puma, Asics, Under Armour, Inc., Adidas, Lululemon Athletica, Manduka, Prana, Hugger Mugger, and Aurorae Yoga, LLC., continue to employ various strategies to expand their market share and capitalize on growth opportunities.
