The yoga clothing Industry size was USD 19.24 billion in 2020. The market is projected to grow from USD 22.72 billion in 2021 to USD 39.91 billion in 2028 at a CAGR of 8.4% during the 2021-2028 period. This vital information is presented by in its report titled, “Yoga Clothing Market, 2021-2028.” Factors such as the rising adoption of a healthier lifestyle and the ability to offer stretchability when adorned will increase the footprint of the market during the forecast period. Additionally, the growing popularity of yoga worldwide will boost the market growth.
On the basis of type, the market can be segmented into top wear, bottom wear, and others.
By end-user, the market can be categorized into male and female.
With respect to distribution channel, the market can be broken down into offline stores and e-commerce stores.
The market can be categorized into North America, Europe, Asia Pacific, South America, and The Middle East and Africa in terms of geography.
Increasing Utilization of Fitness Apps & Increasing Number of Health Clubs to Bolster Market Growth
Factors such as increasing adoption of fitness apps worldwide and rising number of famous personalities launching yoga collections will boost the yoga clothing market growth during the forecast period. Additionally, an increasing number of health clubs and clothing brands integrating yoga clothing within their portfolio will increase the footprint of the market. Also,healthtracksolution the rising utilization of recycled plastic will play to a consumer base of environmentally friendly means, thereby adding to the market value.
However, increasing availability of alternative products will limit the market growth during the forecast period.
North America to Dominate Market due to Increased Spending on Consumer Products
North America will witness the largest yoga clothing market share during the forecast period due to the flourishing economic nature in the region and an expanding e-commerce sector. Additionally, rising preference toward online shopping and rising spending by women toward fitness clothing will fuel the growth of the market.
Europe will hold a considerable market share owing to an increasing consumer base toward physical activities and rising purchasing power among consumers during the forecast period. Also, the lowered unemployment rate among the millennial population and an increasingly health-conscious population will increase the footprint of the market.
Production & Development of Smart Yoga Clothing to Bolster Market Growth
The dominant market players are constantly focused on launching innovative products for presenting a diversified portfolio for their consumers. Smart yoga clothing is often designed to improve yoga practices and improve performance. For example, in July 2020, Asuno UK launched its presence in the U.K. by focusing on specialized ethical fitness and yoga apparel. This move is aimed at providing premium quality fitness wear to its consumers. Other players are focused on employing strategic tactics such as mergers & acquisitions and collaborations to capture larger market share.