Global Yoga Clothing Market Size, Share, Market Research and Industry Forecast Report, 2020-2026 (Includes Business Impact of COVID-19) – Eurowire
October 18, 2020 - Short Yoga Pants
Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Yoga Clothing market.
Trusted Business Insights presents an updated and Latest Study on Yoga Clothing Market. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Yoga Clothing market during the forecast period.
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
Industry Insights, Market Size, CAGR, High-Level Analysis: Global Yoga Clothing Market
The global yoga clothing market size was valued at USD 31.3 billion in 2018. Rising awareness regarding a healthy lifestyle and maintaining balanced body fitness among millennials is expected to promote the application of yoga and thus, in turn, will expand the market scope of clothing products. The product is considered to be a comfortable and convenient clothing option during yoga. Generation X and Millennial population prefer to purchase trendy, comfortable, and fancy clothing to enhance their appearances during yoga classes.
Over the past few years, growing working class population, coupled with hectic workstyle at corporates and manufacturing sectors, has led to increase in spending on fitness exercise including Yoga and Zumba. The buyers are choosing their yoga clothing as per their preferred exercise.
Companies are offering advanced variants including cotton fabric clothing, which can quickly absorb sweat for vigorous yoga enthusiasts. Some of the buyers prefer short length clothing for heated room yoga. Furthermore, shifting trend towards social media photography during physical activities in order to showcase a healthy lifestyle on Facebook, YouTube, and Instagram is expected to promote the scope for such type of clothing products.
Majority of the yoga pants are manufactured with different types of fabrics including Lycra and cotton. Large number of women population prefer this product as it can go well with anything else. These pants are available with different color combinations. Additionally, growing popularity of athleisure as a fashion style among the millennials is expected to promote the utility of such kind of clothing for casual wear and formal wear.
Application Insights of Global Yoga Clothing Market
The women application segment led the market and generated a revenue of USD 20.7 billion in 2018. It has been observed that majority of the fitness freak participants are women, who predominantly spend more on fitness accessories. Yoga pants are very popular among women as it can be worn anywhere and provides better ability to stretch. Rising number of working class women participants in yoga as a fitness activity at the global level is projected to expand the market scope over the next few years.
The children application segment is expected to expand at the fastest CAGR of 7.5% from 2021 to 2026. Parents are encouraging their children to pursue fitness activities due to increasing consumer awareness about the health benefits of yoga. Additionally, it has been observed that these kind of physical activities can improve mental health including concentration and quality of sleep among children. Health experts have recommended that these activities are considered beneficial in improving the overall development of children by enhancing physical abilities, along with mental development. Additionally, many private level pre-schools and schools are providing yoga classes. The aforementioned advantages of yoga to the children will expand the scope for clothing over the next few years.
Distribution Channel Insights
Offline channel led the yoga clothing market and generated a revenue of USD 24.7 billion in 2018. Availability of different products under a single window makes purchasing convenient for the buyers from the offline channels including supermarkets and convenience stores. People prefer to try and buy options provided by hypermarkets, convenience stores, and local outlets. Additionally, these stores offer customized stitched products, where the buyers can choose their customized colors and designs with proper fittings. Some of the key U.S. based offline yoga clothing stores include Pure Barre, lululemon athletica, and James Perse.
Online channel is expected to expand at the fastest CAGR of 6.9% from 2021 to 2026. E-commerce retailers provide various benefits including attractive discounts, membership benefits, and cashbacks. Doorstep delivery services by the online suppliers are attracting people to buy from this channel. Ali Express, Amazon, and Flipkart are the key online suppliers. These players are using artificial intelligence technologies as tools for advertising their products in order to address the consumers requirements. In addition, rising number of smartphone users in emerging economies including India, China, Mexico, and Brazil is expected to expand the utility of online channels over the next few years.
Regional Insights of Global Yoga Clothing Market
Asia Pacific led the market and generated a revenue of USD 11.9 billion in 2018. Growing popularity of a healthy living lifestyle among the working class population in countries including China, India Japan, and Indonesia is expected to remain a main factor driving the industry. Yoga clothing helps to make smoother stretches, which is attracting the buyers to purchase. Furthermore, implementation of various initiatives in countries such as China and India on improving fitness and adoption of a healthy lifestyle is expected to promote the scope for yoga and thus, in turn, will fuel demand for yoga clothing in the near future.
North America is expected to expand at the fastest CAGR of 7.4% from 2021 to 2026. The urban population in countries including U.S. and Canada prefer to use fashionable clothing during their yoga classes. In addition, the clothing companies are offering attractive offers and discounts on the product in order to expand their customer base.
Yoga Clothing Market Share Insights
Major players include Lululemon athletica, Green Apple Active, Alo Yoga, Be present, Hosa Yoga, Athleta, Inner Waves, Lily Lotus, Mika Yoga Wear, and Shining Shatki. Companies are adopting strategies such as product innovation and development to increase their market share. For instance, in January 2019, Nike Inc. has launched its first designed yoga clothing collection. It came into market under their brand Nike Training line. The company has also introduced workouts on the Nike Training Club app. Furthermore, in January 2018, Proyog has launched a global yoga wear brand manufactured, developed, and designed entirely in India.
Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Global Yoga Clothing Market Research Report
This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, this market research report has segmented the global yoga clothing market report on the basis of application, distribution channel, and region:
Application Outlook (Revenue, USD Billion, 2019 – 2030)
Distribution Channel Outlook (Revenue, USD Billion, 2019 – 2030)
Quick Read Table of Contents of this Report @ Global Yoga Clothing Market Size, Share, Market Research and Industry Forecast Report, 2020-2026 (Includes Business Impact of COVID-19)
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