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Yoga Clothing Market reach USD 54.06 Billion at a CAGR of 8.20% during the forecast period 2023-2032

Growing millennial awareness of leading a healthy lifestyle and maintaining a balanced level of physical fitness is expected to drive market expansion in the near future at a CAGR of 8.20% during the forecast period 2023 to 2032.


Market Research Future (MRFR) has published a cooked research report on the “Global Yoga Clothing Market that contains information from 2018 to 2032. The yoga clothing market is estimated to register a CAGR of 8.20% during the forecast period of 2023 to 2032.


MRFR recognizes the following companies as the key players in the global yoga clothing market - Adidas AG (Germany), Alo Yoga (U.S.), Athleta Inc. (U.S.), Hanesbrands Inc. (U.S.), Lululemon Athletica Inc. (Canada), Nike Inc. (U.S.), PUMA SE (Germany), Ralph Lauren Corp. (U.S.), Under Armour Inc. (U.S.), and Outdoor Voices (U.S.).


Yoga Clothing Market Highlights


The global yoga clothing market is accounted to register a CAGR of 8.20% during the forecast period and is estimated to reach USD 54.06 billion by 2032.


Growing yoga studios, increased population adoption of yoga due to its many health benefits, and rising government initiatives to promote yoga are some of the major factors, among others, accelerating the growth of the yoga clothing market. Furthermore, the growing the number of yoga enthusiasts in some regions of the world is a significant factor driving the yoga clothing market. In addition, growing R&D efforts to improve efficiency, advancing technology, and modernization of production methods will all contribute to the creation of new market prospects for yoga clothing during the aforementioned projected period.


Segment Analysis


The global yoga clothing market has been segmented into type, end-user, and distribution channel.


On the basis of type, the market is segmented into Top Wear, Bottom Wear and Others. The bottom wear segment was attributed to holding the largest market share in 2022. This is a result of an increase in yoga studios and health & fitness centers around the world, as well as their marketing initiatives, which have raised the number of yoga practitioners, predicted to advance the market. Many yoga practitioners all across the world consider bottoms essential. The growing popularity of bottom wear among young people is a major element in the segment's expansion.


Based on end-user, the global yoga clothing market has been segmented into Male and Female. The female segment was expected to hold the largest market share in 2022. This is because there are more yoga studios and health & fitness centers throughout the world, and they are promoting their services more. More people are practicing yoga, which is projected to drive the industry ahead. For a huge percentage of yoga practitioners worldwide, bottoms are a need. Women are doing more yoga as they become more conscious of their bodies' attractiveness.


On the basis of distribution channel, the market is segmented into Offline Stores and E-Commerce Stores. The offline stores segment was attributed to holding the largest market share in 2022. These shops give customers the chance to examine products in person before making a purchase and determine their quality. This increases the appeal for this distribution channel because it allows customers to test a physical product in physical stores.


Regional Analysis


The global yoga clothing market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe yoga clothing market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The yoga clothing market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World yoga clothing market comprises of Middle East, Africa, and Latin America.


The largest market share for yoga clothing was maintained by the North American regional sector. Customers are more likely to purchase the product because of the booming economic expansion in this area. Fitness apparel is one of the many consumer goods that women in North America are spending more money on, which is anticipated to have a favorable impact on product demand. Additionally, the North American e-commerce market is growing favorably, supported by rising customer demand for online purchasing, which is boosting consumption.


Moreover, the Europe market has been persistently growing over the forecast period. The demand for the product is anticipated to increase in the upcoming years due to a large increase in physical activity among Europeans. In addition, the youth in this area have great purchasing power due to the low unemployment rate, and their high level of health consciousness helps the market flourish.


Additionally, Asia Pacific is anticipated to experience the quickest growth over the forecast period. The development of the market is positively impacted by the rise of local brands in Asian nations that can meet the needs of certain consumers. Additionally, a substantial impact on the rising product demand is anticipated from the high number of people who practice yoga, particularly in India.


Furthermore, the rest of the world's yoga clothing market is divided into the Middle East, Africa, and Latin America. In the near future, it is projected that the rest of the world will make tremendous development. Urban population growth has increased people's awareness of their health and wellbeing. Market growth is favored by an increasing urban population who practice yoga for their mental and physical well-being.


Key Findings of the Study



  • The global yoga clothing market is expected to reach USD 54.06 billion by 2032, at a CAGR of 8.20% during the forecast period.

  • The Asia-Pacific region accounted for the fastest-growing global market. The introduction of regional brands in Asian countries that may satisfy specific customer wants has a favorable impact on market growth.

  • Based on end-user, the female segment was attributed to holding the largest market in 2022, with an approximate market share of 57%.

  • Adidas AG (Germany), Alo Yoga (U.S.), Athleta Inc. (U.S.), Hanesbrands Inc. (U.S.), Lululemon Athletica Inc. (Canada), Nike Inc. (U.S.), PUMA SE (Germany), Ralph Lauren Corp. (U.S.), Under Armour Inc. (U.S.), and Outdoor Voices (U.S.).


 

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Companies Covered 15
Pages 128
Certified Global Research Member
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