In Australia yoga is preferred as a cardio, strength and flexibility exercise by millions of Australians. Yoga has seen a huge growth since 2016 when more than 2 million people participated in the exercise and after that yoga became a popular exercise for the Australians. Here with yoga, pilates and aerobics have also become popular exercise choice for the population. All the three activities yoga, aerobics and pilates are mostly dominated by women and also dominated in the top two socio-economic quintiles. It has been researched that over 50% of the participants in these three activities are either on the AB or C quintiles and it is been said that, the top two quintiles comprise with 40% of the overall population in a socio-economic sense.
According to the research report published by Actual Market Research titled as “Australia Yoga Accessories Market Research Report, 2027”. Australia is supposed to grow with more than 8% CAGR by the forecasted period. The yoga accessories market in Australia is segmented by product which includes yoga mats, straps, blocks and within these products the straps are growing with the highest CAGR.
Further, increasing concerns regarding health and fitness among population, owing to rising health problems such as obesity and others has led to increasing adoption of Yoga. Rising popularity of yoga is fueling demand for yoga accessories such as yoga mats, yoga straps, yoga clothes, and yoga bricks across the world. Manufacturers are switching to recyclable raw materials and biodegradable products for development of these accessories, to avoid adverse impacts on the environment. Raw materials such as natural rubber, jute and cotton are preferred over polyurethane, nylon, leather and synthetic rubber for sustainable and eco-friendly yoga mats. Increasing number of people are opting for eco-friendly products, owing to rising awareness regarding adverse effects of using polyurethane, nylon, leather and synthetic rubber products. Lower emissions generated in manufacturing of eco-friendly, sustainable mats encourages consumer to adopt these products, which is creating conductive environment for growth of yoga mats and other yoga accessories.
According to the report, the market is segmented into various product types including mats, clothing, straps, blocks and others. Among these types, yoga mat is anticipated to occupy largest market share during the upcoming timeframe. Yoga mat act as an insulation between the human body and the ground. This prevents any loss of heat, charge or energy from the body to the ground and thereby provides a thermo-insulation. Due to anti-slipping nature of yoga mat, it helps the person to keep strong hold on the surface hence; the rise in popularity of yoga is projected to drive the growth of the yoga mat market. Further, the market is segregated into online and offline sales channel. Among them, online segment is leading the market in 2021. Businesses have been able to reach their potential customers by setting online stores where the products offered by manufacturers can be accessed on a larger base. This channel includes online marketplaces, such as Amazon, Walmart, and eBay, along with third-party e-retailers who provide business merchandising online. Accessories such as yoga mats, witnessed a high demand due to the COVID-19-enforced lockdown on health clubs and gymnasiums. This has led to an increase in the expansion of online distribution channels and demand for yoga accessories.
While Covid-19 brought the world at risk of anxiety and post-traumatic stress disorder yoga was preached as an aid to deal with such crises. Yoga has also played a significant role in the psycho-social care and rehabilitation of Covid-19 patients in quarantine and isolation. It particularly helped in allaying the fears and anxiety. With more millennial drawn towards this ancient practice, the market for yoga accessories is expected to grow with an anticipated to gain higher momentum in Australia by 2027.
Considered In the Report
• Geography: Australia
• Historical year: 2016
• Base year: 2021
• Estimated year: 2022
• Forecasted year: 2027
Aspects Covered In the Report
• Market Size By Value for the historic time period (2016-2021)
• Market Size By Value for the forecast time period (2022-2027)
• Market Share by Product (Mats, Clothing, Straps, Blocks, others)
• Market Share by Sales Channel (Online & Offline)
• Market Share by Region (2016, 2021 & 2027F)
• Market Share by Country (2016, 2021 & 2027F)
The approach of the report:
We keep an eye on evolving markets and try to evaluate the potential of the products and services. If we find the market interesting, we start working on it and create the desired table of content, considering all aspects of the business. We start by creating separate questionnaires for C-level executives, national/regional sales personnel, company owners, dealers, distributors, and end-users. Once the questionnaires have been finalized, we start collecting the primary data (mostly through phone calls) and try to understand the market dynamics regionally or tier-wise. This process gives us in-depth details of the market, including all present companies, the top-performing products with reasons why they dominate; we get the details of new players and their innovative approaches; market trends; dynamics; and all the small details of the market. After the collection of primary inputs, we then cross-check the same with secondary sources that include associations, trade journals, annual reports, paid databases, newspapers, magazines, press releases, government sources, etc. From this, we get a rough estimate of the market and start checking existing product price variants, trade, production, raw material scenarios, policies and regulatory landscape, etc. Then, to finalize the market, we start collecting financials of each player present in the market, including limited, private limited, and LLPs. Moreover, we perform cross-industry and cross-region analysis of the product, and based on collected primary inputs and using statistical modeling, we start forecasting the market. We follow our forecasting algorithm, which is unique for each product but gives more weight age to primary inputs. At the same time, the content team starts preparing company profiles, market dynamics, market trends, five forces, PEST analysis, etc. Once the data is verified by the data expert, the team (primary team, content team, and data team) together crosscheck the segmentations, validate the market, and then the designing team starts plotting the graphs. Once the file is ready, the content team completes the report and makes sure that all the discussed points have been covered and provides their valuable inputs in the form of strategic recommendations for new as well as existing players. The QC team then checks the overall report that includes spell check, data verification, and makes the same dispatch ready and error-free.
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the yoga accessories manufacture industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.