The yoga clothing market size was USD 19.24 billion in 2020. The market is projected to grow from USD 22.72 billion in 2021 to USD 39.91 billion in 2028 at a CAGR of 8.4% during the 2021-2028 period. This vital information is presented by Fortune Business Insights™, in its report titled, “Yoga Clothing Market, 2021-2028.” Factors such as the rising adoption of a healthier lifestyle and the ability to offer stretchability when adorned will increase the footprint of the market during the forecast period. Additionally, the growing popularity of yoga worldwide will boost the market growth.
Lockdowns & Work from Home Activities to Impact Market is a Positive Trend
The COVID-19 pandemic has impacted the market in a positive manner due to several lockdowns and restrictions on movement implemented by various government bodies worldwide. An increased emphasis on fitness & health was undertaken by the working population due to increased time spent working from home. Rising adoption of yoga was observed due to the ability to decrease back pain, ease arthritis symptoms, and lessen the stress level of individuals. These factors will push the boundary of the market toward a widened horizon.
Fortune Business Insights™ lists out all the yoga clothing market companies that are presently striving to reduce the impact of Covid-19 pandemic on the market:
- Adidas AG (Herzogenaurach, Germany)
- Alo Yoga (California, U.S.)
- Athleta Inc. (California, U.S.)
- Hanesbrands Inc. (North Carolina, U.S.)
- Lululemon Athletica Inc. (Vancouver, Canada)
- Nike Inc. (Oregon, U.S.)
- PUMA SE (Herzogenaurach, Germany)
- Ralph Lauren Corp. (New York, U.S.)
- Under Armour Inc. (Maryland, U.S.)
- Outdoor Voices (Texas, U.S.)
The report contains an analytical approach by encompassing critical factors such as leading companies, end-users, and leading types surrounding the market. Additionally, the report also contains the future trends and ongoing industry developments in order to present a comprehensive read for our consumers. Also, factors that are expected to impact the market in a positive/negative manner are also mentioned in the report.
Drivers & Restraints
Increasing Utilization of Fitness Apps & Increasing Number of Health Clubs to Bolster Market Growth
Factors such as increasing adoption of fitness apps worldwide and rising number of famous personalities launching yoga collections will boost the yoga clothing market growth during the forecast period. Additionally, an increasing number of health clubs and clothing brands integrating yoga clothing within their portfolio will increase the footprint of the market. Also, the rising utilization of recycled plastic will play to a consumer base of environmentally friendly means, thereby adding to the market value.
However, increasing availability of alternative products will limit the market growth during the forecast period.
North America to Dominate Market due to Increased Spending on Consumer Products
North America will witness the largest yoga clothing market share during the forecast period due to the flourishing economic nature in the region and an expanding e-commerce sector. Additionally, rising preference toward online shopping and rising spending by women toward fitness clothing will fuel the growth of the market.
Europe will hold a considerable market share owing to an increasing consumer base toward physical activities and rising purchasing power among consumers during the forecast period. Also, the lowered unemployment rate among the millennial population and an increasingly health-conscious population will increase the footprint of the market.
On the basis of type, the market can be segmented into top wear, bottom wear, and others.
By end-user, the market can be categorized into male and female.
With respect to distribution channel, the market can be broken down into offline stores and e-commerce stores.
The market can be categorized into North America, Europe, Asia Pacific, South America, and The Middle East and Africa in terms of geography.
Production & Development of Smart Yoga Clothing to Bolster Market Growth
The dominant market players are constantly focused on launching innovative products for presenting a diversified portfolio for their consumers. Smart yoga clothing is often designed to improve yoga practices and improve performance. For example, in July 2020, Asuno UK launched its presence in the U.K. by focusing on specialized ethical fitness and yoga apparel. This move is aimed at providing premium quality fitness wear to its consumers. Other players are focused on employing strategic tactics such as mergers & acquisitions and collaborations to capture larger market share.
Key Industry Development:
- March 2021: Puma launched its sustainable yoga with Cara Delevingne. This partnership is aimed to drive Cara’s fans toward the product.