The global yoga accessories market is estimated to grow at a compound annual growth rate (CAGR) of 6.91 percent from 2024 to 2028, according to a new report by research and advisory firm Technavio. The sales of yoga accessories are expected to increase alongside the significant growth of fitness clubs anticipated for the forecast period. In the US alone, the number of health and fitness clubs has grown by over 18 percent between 2012 and 2017, says Technavio. Indeed, 37 percent of the growth during the 2024-2028 forecast period will originate from North America.
Other trends that are driving growth in the yoga accessories market include personalization, high-level competition and health consciousness. Health benefits of yoga for various illnesses fuel demand. The rise of virtual classes on platforms like YouTube and Zoom is also driving the growth.
Meanwhile, the volatile prices of key raw materials – especially synthetic fibers like polyester – are indicated in the report as a significant challenge to the growth of the global yoga accessories market. Manufacturers are experiencing profit margin fluctuations as a result, since volatile prices makes it difficult for them to anticipate costs and maintain profitability. Furthermore, price-conscious consumers put pressure on manufacturers to keep costs low, with the potential risk of compromising product quality.
By product, yoga mats, yoga blocks and yoga apparel are the most popular categories, according to the report.
