Yoga Clothing Market Projected To Exhibit Robust CAGR of 6.2% For The Forecast Period From 2019 To 2025: Grand View Research Inc.

 

The global yoga clothing market size is expected to reach USD 47.8 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 6.2% over the forecast period. Shifting inclination towards comfortable and stylish clothing among fitness enthusiasts at the global level is expected to remain a favorable factor for the industry growth. Additionally, increase in stress levels among the millennial population due to hectic workstyle has paved the way for practicing various fitness exercises including yoga on a daily basis. Yoga clothes are considered comfortable for stretching and have the ability to absorb sweat during vigorous physical activity.

The clothing, footwear, & accessories industry is anticipated to witness checkered growth throughout 2020, as a result of the unprecedented supply chain disruptions caused by the COVID-19 outbreak worldwide. The expected decline in the global sales of clothing, footwear, & accessories is attributable to massive supply chain disruptions across significant export markets, including China and India. However, the industry is likely to recover over the forecast timeframe, given the rising popularity of online/e-commerce sales. From a manufacturing standpoint, the sustainable or ethical fashion trend is expected to favor market growth throughout the forecast timeframe. Luxury apparel is another lucrative space for prospective manufacturers to target, given the mushrooming number of affluent and fashion-conscious consumers across the globe. Our team is diligently working towards accounting these factors in our report with the aim of providing you with the up-to-date, actionable market information and projections.

The children application segment is expected to expand at the fastest CAGR of 7.5% from 2019 to 2025. It has been observed that parents are encouraging their children to join yoga classes as it can be beneficial for their mental and physical health. The health experts recommend that yoga can increase concentration level, along with improving mental health, among children.

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The offline channel generated a revenue of USD 24.7 billion in 2018. Majority of the consumers prefer to purchase their yoga clothing after giving it a try on the supermarket or specialty cloth stores. Moreover, these stores keep products and sizes of different brands. Some of the offline stores also provide customized offerings to their buyers in order to keep their products’ visibility high in the clothing products market.

Further key findings from the report suggest:

• The women application segment generated a revenue of USD 20.7 billion in 2018. The children segment is expected to register the fastest CAGR of 7.5% from 2019 to 2025 due to high participation by children in yoga classes to maintain physical and mental health
• The offline channel generated a revenue of USD 24.7 billion in 2018. The online channel is expected to expand at the fastest CAGR of 6.9% from 2019 to 2025 due to growing popularity of e-commerce channel as a purchasing medium among the millennials
• Asia Pacific dominated the yoga clothing market in 2018 with a revenue of USD 11.9 billion in 2018.

Asia Pacific led the yoga clothing market and generated a revenue of USD 11.9 billion in 2018. Consumers are expected to increase spending on various fitness activities due to expansion in the middle-class working age groups in developing countries including China, India, and Bangladesh. Additionally, the governments of various countries including China, Japan, and India have been framing favorable policies, which are aimed at promoting the fitness activities from school to the professional level. This inclination towards health and fitness among the consumers and governments is expected to promote the yoga participation and thus, in turn, will fuel the market demand for clothing products over the next few years.

Some of the key players operating in this market are Lululemon athletica, Green Apple Active, Alo Yoga, Be present, Hosa Yoga, Athleta, Inner Waves, Lily Lotus, Mika Yoga Wear, and Shining Shatki. Various manufacturers are taking efforts on new product launches, along with collaborating with the distributors, to expand their brand reach over the next few years.

The children application segment is expected to expand at the fastest CAGR of 7.5% from 2019 to 2025. Parents are encouraging their children to pursue fitness activities due to increasing consumer awareness about the health benefits of yoga. Additionally, it has been observed that these kind of physical activities can improve mental health including concentration and quality of sleep among children. Health experts have recommended that these activities are considered beneficial in improving the overall development of children by enhancing physical abilities, along with mental development. Additionally, many private level pre-schools and schools are providing yoga classes. The aforementioned advantages of yoga to the children will expand the scope for clothing over the next few years.

Grand View Research has segmented the global yoga clothing market on the basis of application, distribution channel:

Yoga Clothing Application Outlook (Revenue, USD Billion, 2015 - 2025)

·         Men

·         Women

·         Children

Yoga Clothing Distribution Channel Outlook (Revenue, USD Billion, 2015 - 2025)

·         Offline

·         Online