Yoga Clothing Market Size was valued at USD 26.6 Billion in 2023. The yoga clothing industry is projected to grow from USD 28.78 Billion in 2024 to USD 54.06 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 8.20% during the forecast period (2024 - 2032). Millennials' rising awareness of the value of keeping a healthy lifestyle and a fit physique is anticipated to stimulate the application of yoga and be a major market driver for the yoga clothes market.
Source Secondary Research, Primary Research, MRFR Database and Analyst Review
Health clubs are growing in popularity worldwide as people become more conscious of their own health. A large number of health club members who encourage others to exercise for fitness and have attractive, healthy bodies have an impact on the demand for the product. For example, in August 2022, 66.5 million customers—young and old—were registered in health club studios in the United States in 2021, accounting for 21.8% of the nation's population, according to the International Health, Racquet & Sports club Association. Furthermore, anticipated to increase product demand over the course of the projected period is the growing trend of well-known clothing companies purchasing businesses with significant growth potential. The purchase of Beyond Yoga, a U.S.-based athletic and lifestyle wear brand, was announced by the clothing giant Levi Strauss in August 2021.
The way business is conducted has changed as a result of technology, which has altered practically every industry. Since recently, people have had access to a variety of fitness software on platforms including apple and android. Through the use of these applications, new variations of yoga clothes can be advertised and properly positioned in the minds of the targeted audiences, ultimately influencing their purchases. People are more dependent on convenient options, and these applications provide much-needed convenience by displaying information that can influence purchasing choices. In the upcoming years, it is anticipated that rising use of fitness applications would drive the market for yoga apparel. The World Economic Forum estimates that in the second quarter of 2020, users of fitness applications climbed by about 24% from the first quarter. This is further backed up by the growing online platform network of fitness studios and gyms, which is encouraging people to use fitness apps. In the years to come, it is anticipated that the demand for yoga apparel will significantly increase as a result of this technologically backed aspect.
The development of yoga apparel has forced industry rivals to concentrate on tactics like quicker delivery times and mass customization. In the market for yoga gear, mass customization has been steadily gaining prominence. Technology, changes to the supply chain, and organizational restructuring are the driving forces behind these aspects. To gather client feedback, create the finished product, and streamline deliveries, significant technological advancements have been observed. For instance, two of the pioneers in the creation and implementation of personalization techniques are Adidas AG and Nike Inc. By using online tools to choose their own sports, colors, or styles, NikeID enables customers to customize and design their own Nike Inc. products. Competitors in the market are now able to further entice customers and foster their strong brand loyalty thanks to the mass customization of yoga apparel. Thus, driving the yoga clothing market revenue.
The yoga clothing market segmentation, based on type includes Top Wear, Bottom Wear and Others. The bottom wear segment dominated the market. Due to their affordability and accessibility in all sizes for practicing yoga, bottom wear has seen substantial growth among young people in recent years. It is also anticipated that the market would develop as a result of the rise in awareness of the significance of maintaining one's general health and physical appearance, as well as new fashion trends and the effect of social media on attractive appearances.
The yoga clothing market segmentation, based on end-user includes Male and Female. The female segment dominated the market. Females spend a lot of time and money preserving their health and looks in order to appear appealing because they are very worried about their bodies and health. Growing interest in maintaining a healthy lifestyle and a balanced level of physical fitness is anticipated to encourage women to practice yoga and to increase the market for yoga apparel. Over the projected period, female’s demand is likely to be driven by the rising number of female yoga practitioners.
The yoga clothing market segmentation, based on distribution channel, includes Offline Stores and E-Commerce Stores. The offline stores category generated the most income. Supermarkets, specialty shops, hypermarkets, retail establishments, and other store-based distribution channels make up the offline market. These shops are chosen over internet retailers because they give customers the chance to examine the products in person, test them out, and get advice when needed. To accommodate every customer's budget, demands, and requirements, they offer a wide choice of brands at a wide range of prices.
Figure 1: Yoga Clothing Market, by Distribution channel, 2022 & 2032 (USD Billion)
Source Secondary Research, Primary Research, MRFR Database and Analyst Review
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American yoga clothing market area will dominate this market. The popularity of regular exercise pursuits like yoga has increased demand for such clothing in North America. Over 36,000 health and fitness clubs exist in the US, which is projected to give the industry more traction during the projection period due to rising subscription rates. To entice younger members, gyms and health clubs are incorporating buddy networks and health support groups. Aside from that, the US government encourages office exercise. As a result, during the course of the projected period, these variables will fuel regional market expansion.
Further, the major countries studied in the market report are the US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: YOGA CLOTHING MARKET SHARE BY REGION 2022 (USD Billion)
Source Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe yoga clothing market accounts for the second-largest market share. The demand for products is anticipated to increase in the coming years as more Europeans engage in physical activity. 46.6% of people in Europe participate in physical activity. The youth population in this area has significant purchasing power and a high level of health consciousness, which benefits the yoga gear market. This is due to the area's low unemployment rate. Further, the German yoga clothing market held the largest market share, and the UK yoga clothing market was the fastest growing market in the European region.
The Asia-Pacific Yoga Clothing Market is expected to grow at the fastest CAGR from 2023 to 2032. Market expansion in the Asia Pacific is positively impacted by the rising number of brands that can meet unique client needs. The expanding product demand is anticipated to be significantly impacted by the large number of people who practice yoga, especially in India. Moreover, China’s yoga clothing market held the largest market share, and the Indian yoga clothing market was the fastest growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the yoga clothing market grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the yoga clothing industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the yoga clothing industry to benefit clients and increase the market sector. In recent years, the yoga clothing industry has offered some of the most significant advantages to medicine. Major players in the yoga clothing market are attempting to increase market demand by investing in research and development operations includes 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.).
Designing, developing, and selling clothing, accessories, and footwear for men, women, and kids is the business of Puma SE (Puma), a manufacturer of sports products and equipment. Under the brand names Cobra Golf, stichd, and PUMA, the corporation sells its goods. Additionally, it grants licences to other independent businesses so they may manufacture and sell watches, accessories, eyeglasses, and perfumes. Through wholesale, e-commerce platforms, and company-owned and licenced retail locations, the corporation offers items directly to consumers.
Ralph Lauren Corp., also known as Ralph Lauren, is a company that produces, distributes, and promotes high-end lifestyle goods, such as home furnishings, clothing, accessories, shoes, and perfumes. Men's, women's, and children's clothing, leather goods, purses, shoes, bedding, furniture, skincare products, and cosmetics are among the products offered by the brand. The business sells its goods through department stores, specialty shops, golf, wholesale, retail, third-party licencing, and other channels.
Yoga Clothing Industry Developments
September 2022 Spanx introduced a line of activewear that included new track trousers, yoga pants, tennis skirts, and other items with pockets. It also enlarged its line of already existing products.
July 2022 The debut of Follett Higher Education's partnership with Beyond Yoga, the largest campus retailer in North America, was announced. Through this agreement, campus residents and students will have access to branded sportswear from well-known yoga gear manufacturers.
April 2021 Lululemon Athletica Inc., a Canadian manufacturer of sports clothing, recently announced the opening of a technology development center in Bengaluru, India, as part of a larger effort to improve its technological infrastructure and support for worldwide expansion.
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)