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Yoga Apparel Industry (Market), Size, Key Vendors, Growth Drivers, and Competitive Landscape to 2030

PORTLAND, Oregon, US, Sep 17, 2022 / EINPresswire.com/ – Allied Market Research has published a report titled “Yoga Wear Market by Product Type (tops and bottoms), end user (men and women), and distribution channel (supermarkets). / Supermarkets, Specialty Stores, E-Commerce, etc.): Global Opportunity Analysis and Industry Outlook 2021-2030”. According to the report, the global yoga apparel industry generated $33.68 billion in 2020, is expected to generate $70.29 billion by 2030, and is experiencing a compound annual growth rate of 7.8% from 2021 to 2030.

The main determinants of growth

Increasing demand from emerging markets, rising prevalence of obesity, and increasing government initiatives to promote yoga are driving the growth of the global yoga apparel market. However, the increase in the number of yoga incidents is hampering the growth of the market. On the other hand, the promotion of yoga for male practitioners presents new opportunities in the coming years.

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According to the viewpoint of high-level executives, the highly stressful and competitive world has led to the popularity of wellness and health awareness. As a result, the sharp increase in the acceptance of yoga and related practices around the world has contributed significantly to the growth of the global yoga apparel market. Additionally, rapid urbanization along with a myriad of health issues has forced individuals to incorporate yoga practice into their daily routine, including but not limited to asana breathing exercises and meditation.

CXOs further added that the global yoga industry has come up with an innovative range of offerings that meet the demands of increasingly tech-savvy consumers. Virtual yoga classes, social media platforms, and yoga tourism are key areas in which participating stakeholders invest, innovate, and consistently generate profits. This is a critical factor responsible for the growth of the number of yoga practitioners worldwide. Moreover, the Indian subcontinent has played a prominent role in the spread of yoga practices on global platforms by developing a unique market position, image and brand through its rich heritage of indigenous knowledge along with strong infrastructure and skilled workforce. These factors are expected to contribute significantly to the growth of the yoga wear market.

Lower wear fraction to maintain its leading position throughout the forecast period

Based on product type, the bottoms segment held the highest market share in 2020, accounting for more than half of the global yoga apparel market, and is estimated to maintain its leadership position throughout the forecast period. This is due to the rise in the number of yoga studios and health and fitness clubs all over the world. Moreover, the segment itself is expected to show the highest compound annual growth rate of 8.1% from 2021 to 2030. The report also mentions the upper wear segment.

The women’s sector maintains its leading position during the forecast period

Based on the end user, the women’s segment captured the largest share in 2020, contributing to more than three-fifths of the global yoga apparel market, and is expected to maintain its leading position during the forecast period. This is due to the increased participation of women in yoga. However, the men’s segment is expected to exhibit the largest compound annual growth rate of 8.3% from 2021 to 2030, due to the high prevalence of obesity among men worldwide.

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North America maintains its dominance by 2030

Based on region, North America had the highest market share in terms of revenue in 2020, accounting for more than a third of the global yoga apparel market. This is due to the increased health awareness and fitness concerns among North American consumers. Moreover, the Asia Pacific region is expected to experience the fastest compound annual growth rate of 8.8% from 2021 to 2030. The rise in popularity of yoga has led to many forms of hybrid yoga such as nude, hot, strength, goddess and dog yoga Snowga (yoga in snow) has been adapted to suit the requirements of the participants. This has greatly increased the demand for yoga apparel, which has resulted in the growth of the market. Other regions discussed in the report include Europe and LAMEA.

Market Leading Players:-

nike
puma
Asics
Under Armor, Inc.
Adidas
Lululemon Athletica
manduca
prana
hugger mugger
Aurorae Yoga, LLC

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Allied Market Research (AMR) is a full-service market research and business consultancy of Allied Analytics LLP, headquartered in Portland, Oregon. Allied Market Research provides global organizations as well as medium and small businesses with unparalleled quality of Market Research Reports and Business Intelligence Solutions. AMR has a targeted viewpoint to provide business insights and consultancy to help its clients make strategic business decisions and achieve sustainable growth in their respective market areas. AMR provides its services across 11 industrial sectors including life sciences, consumer goods, materials and chemicals, construction and manufacturing, food and beverages, energy and power, semiconductors and electronics, automotive and transportation, information and communications technology and media, aerospace and defense, and BFSI.

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