Research Methodology on Yoga Mat Market
Introduction
The present research aims to provide comprehensive insights into the ‘Yoga Mat’ Market. For that purpose, we have adopted a methodological approach that comprises primary and secondary research. The following sub-sections present the details of our research strategy:
Research Type
The study of the ‘Yoga Mat’ Market was conducted with the help of qualitative and quantitative research. To gain an in-depth understanding of the market dynamics and the market estimation, a combination of both methods was used.
Secondary Research
To formulate our research report, we first relied on secondary research. We referred to information collated from whitepapers, reports published by renowned organizations, journals, online resources, and magazines. Using this data, we gained insights into known trends and identified the spending patterns of consumers in the industry.
Primary Research
After secondary research, conducted in-depth primary research to accomplish our objectives. In this section, we conducted quantitative and qualitative research. Year-on-year data and an in-depth analysis of the industry were used to come up with a quantitative assessment. Qualitative research was undertaken to gain an all-rounded understanding of the industry and its market trends, and for that, we conducted interviews and surveys.
Data Collection and Analysis
For our primary research, we used globally recognized databases such as the International Trade Centre (ITC) and the International Monetary Fund (IMF). The insights gained from them were validated with the help of surveys and interviews. We created a systematic approach to collect and document responses from industry experts.
Age-wise and region-wise data were collected and analyzed to understand the dynamic shifts in consumer behaviour and demands. We gathered data throughout the search, study, and analysis processes, which enabled us to gain actionable insights.
Data Triangulation
Using a triangulated approach, we have ensured that our collected data is consistent and accurate. To gain a better understanding of the ‘Yoga Mat’ market, we utilized different resources such as news and trade articles. We then verified our findings using different approaches such as interviews and surveys.
Market Estimation
To estimate market numbers, we utilized bottom-up and top-down approaches. We collected data from surveys and interviews to understand the market figures for each segment. We used several industry sources to understand the spending trends and capacity utilization of each region and came up with an initial market assessment.
Strategy for Data Validation
We employed three methods to analyse and validate our collected data. For instance, to overcome the data discrepancy, each data set is cross-checked and analyzed thoroughly using multiple sources. We also used advanced techniques such as gap analysis, difference analysis, and benchmarking for data validation.
Assumptions
The present study was designed on several assumptions. Firstly, economic growth in the market, and several other assumptions related to the ‘Yoga Mats’ market dynamics, have been taken into account by the research team while formulating the research report.
Furthermore, certain assumptions related to factors such as government regulations, product manufacturing, and spending patterns of manufacturers, and suppliers have also been taken into account.
Conclusion
The present research on the ‘Yoga Mat’ Market offers an in-depth and comprehensive approach to assess and estimate the size of the industry with its forecast from 2023 to 2030. We utilized an array of data sources and advanced analytical techniques to come up with a detailed report. A holistic research methodology comprising primary and secondary research was adopted to understand the market-specific dynamics and estimate its size.
