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Yoga Accessories Market Showing A Potential Growth of 12% In Asia Pacific: Actual Market Research
Aug, 07
2021

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Yoga Accessories Market Showing A Potential Growth of 12% In Asia Pacific: Actual Market Research

 

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There is no question that modern lifestyles require much less physical exertion than those of previous generations like farmers, fishermen, tradesmen, or workers. In all aspects, life has become more sedentary. Across Asia, urbanization, technological developments, and growing service economies have drawn more people into desk-bound jobs. For the growing middle class and high-income countries, household chores have been greatly eased by modern appliances and industrialized food production. Meanwhile, the digital revolution has enabled one to shop, socialize, and access news and entertainment without leaving home or even the sofa. The trend is equally alarming for the youth, with many studies pointing towards a long-term decline in cardiovascular fitness levels. It won’t be surprising if, in just a generation or two, physical activity has become less natural and more structured and intentional. To stay active, many people now schedule a time to exercise. Increasingly, people also have to spend money for the opportunity to exercise. The recent publication by Actual Market Research, named Asia Pacific Yoga Accessories Market Outlook, 2026 studies the market based on product type, sales channel, and countries.

As people are becoming more aware of their health demands, they are moving towards dynamic yoga over traditional yoga. This had given a major push to the yoga accessories market in the region, which allowed it to reach a value of USD 3277.67 Million in 2015. With the introduction of International Yoga Day Celebrations in the year 2015, the region also gained more attention from the western countries, which brought in more modernization into yoga. This is to allow the market in the region to grow with a growth rate of over 12%.

Asian consumers are also big spenders on yoga apparel, global yoga retailer giant Lululemon is aggressively pursuing the region with store openings in Hong Kong, Singapore, Seoul. The trend of posting their workout schedules on social media has made the yoga clothing segment to be one of the most potential segments in the region. This segment held to a share of over 20% in the region. Even when the search for dynamic yoga practices is high in the region, people prefer to opt for unstandardized cloth mats or regular blankets & sheets for their practice. This is majorly due to the consideration of mats as a barrier saving clothes from being soiled, rather than a support for the body. With the increasing commercialization of yoga practices and celebrities endorsing the yoga props, the yoga mat segment is likely to cross a value of USD 6500 Million, by 2026.

With a huge unorganized market dealing with the major two product segments of mats and clothes, the difference between online and offline sales channel segments is quite low. With more millennials opting for premium products, the online sales channels had an upper hand. The online sales channel segment accounted higher, with a market value of around USD 1700 Million in 2015, while the offline segment is likely to be growing at 11.99% through the forecasted period.

The growing awareness regarding spiritual and therapeutic benefits offered by yoga is estimated to drive the market growth in the region. In addition, there are various yoga schools in India and China in which the students can learn yoga from the yoga gurus. Southeast Asian countries, such as Malaysia, Thailand, the Philippines, and Indonesia, have small physical activity markets, lower levels of participation, and the lowest fitness industry penetration rates across Asia. Tokyo is home to the most active and international yoga scene in East Asia with a dedicated community of practitioners made up of both home-grown and international yogis. The financial uncertainties laid down by the pandemic have forced many people to opt for home exercises rather than spending on yoga membership fees. Even now there is no clarity as to when people will be able to resume their normal routine exercises. All these factors have negatively impacted the yoga accessories during the pandemic.