Yoga Wear Market Intelligence Report Offers Insights on Growth Prospects 2022-2026
March 17, 2022
Mar 17, 2022/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Yoga Wear Market.
It was estimated prior to this unanticipated outbreak that the Yoga Wear Market is projected to grow from USD 32.6 billion in 2020 to USD 45.5 billion by 2026 at a CAGR of over 5.8% during the forecast period. Yoga wear can be defined as different types of yoga clothes that are worn when doing yoga. Various types of yoga clothes are available in the market including yoga tops, yoga pants, and yoga shorts among others. The choice of yoga clothes differs according to several different yoga styles. Yoga clothes help the person feel more comfortable and provides good support while doing yoga.
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The growth of the global yoga wear market is primarily driven by an increasing number of people doing yoga at home or going to yoga classes with rising fitness and health consciousness. Growing demand for trendy and fancy and comfortable clothing by the X generation and millennials is likely to drive the market growth significantly. Growing emphasis on offering new and high-quality products by the market players is likely to add to the growth of the yoga wear market substantially.
COVID-19 Impact on Global Yoga Wear Market
Covid-19 outbreak impacted the growth of the yoga wear market negatively for a short period of time. The spread of coronavirus led to the enforcement of lockdown to curb the spread of the virus. This led to travel restrictions and supply chain disruptions, which in turn affected the manufacturing and availability of the product in the market. Additionally, people moved out of the house only for essential activities and thus, affected the market growth. However, online product sales increased amid pandemics.
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Segment Analysis
By application, the yoga wear market has been bifurcated into men, women, and kids.
- Under these, the women segment accounted for the largest market share in 2020.
- The segment growth can be attributed to the increasing number of women fitness freaks.
- Additionally, the rising number of working women participants in fitness activities is also propelling the market growth.
By region, the market in Asia-Pacific garnered the largest market share in 2020 and is projected to grow at a significant CAGR during the assessment period.
- The regional growth can be attributed to increasing number of people participating in fitness activities particularly working-class population with rising fitness consciousness and growing emphasis on adopting a healthy lifestyle.
- The market in North America is expected to be driven by high demand fashionable and high-quality clothing.
Key Players:
Key players operating in the global Yoga Wear market are-
- Lululemon athletica (Canada),
- Green Apple Active (The U.S),
- Shining Shatki (The U.S),
- Alo Yoga (The U.S),
- Be Present, Inc (The U.S),
- Mika Yoga Wear Inc. (The U.S),
- Beyond Yoga (The U.S),
- Athleta Inc (The U.S),
- Lily Lotus (The U.S),
- Inner Waves (India),
- Proyog (India).
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Yoga Wear analysis report discusses the following heads in great detail:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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