Set to witness substantial growth, the global yoga clothing market projected to grow at a CAGR of 7.8 per cent from 2021-30 and reach a value of $70,291.0 million by 2030. This growth can be attributed to several key factors driving the demand for yoga apparel.
According to the report by Allied Market Research, a significant driver of this growth is the increasing awareness of the mental and physical health benefits associated with practicing yoga. There has been a notable rise in the number of people joining yoga classes, consequently fueling the demand for yoga clothing. Additionally, the escalating incidence of obesity and various health-related diseases has prompted consumers to adopt fitness practices like yoga, further contributing to market growth. Consumers are not only engaging in yoga but also investing in related accessories such as clothing, blocks, and mats, thus boosting the overall market.
Government initiatives and promotional efforts by yoga and fitness clubs have also played a pivotal role in expanding the global yoga clothing market. For instance, initiatives like International Yoga Day proposed by Indian Prime Minister Narendra Modi have garnered worldwide participation and interest in yoga. Furthermore, the call to make yoga a mass movement has spurred even more people to embrace the practice, subsequently driving up the demand for yoga apparel.
Despite the disruptions it caused to manufacturing and supply chains initially, the COVID-19 pandemic has paradoxically led to increased participation in yoga and other fitness activities. With people becoming more health-conscious during lockdowns, online platforms saw a surge in individuals learning and practicing yoga. While there were setbacks in terms of manufacturing and supply chain disruptions during the pandemic's onset, the overall impact on the yoga clothing industry has been mitigated by the sustained interest in yoga.
In terms of product type, the bottom wear segment is expected to witness the fastest growth, with a projected CAGR of 8.1 per cent during the forecast period. In 2020, the women's segment dominated the yoga apparels market by capturing 60.9 per cent of the global share.
Regionally, the United States emerged as the leading market in North America in 2020, with the market anticipated to further grow to $5,855.5 million by 2030, expanding at a CAGR of 6.4 per cent during the forecast period.
