The global yoga clothing market size was valued at USD 25.74 billion in 2022 and is projected to reach a valuation of USD 27.63 billion in 2023. The market is expected to reach USD 46.67 billion by 2030 with a CAGR of 7.78% during the forecast period.
With the population increasingly adopting healthier lifestyles, there has been a spike in the demand for products among fitness enthusiasts. Growth in the popularity of yoga is set to pave a positive pathway for product demand. Rising number of health clubs & major clothing brands to propel market growth. Fortune Business Insights™ shares this information in its report titled “Yoga Clothing Market, 2023-2030.”
List of Key Players Profiled in the Yoga Clothing Market Report:
Adidas AG (Germany)
Alo Yoga (U.S.)
Athleta Inc. (U.S.)
Hanesbrands Inc. (U.S.)
Lululemon Athletica Inc. (Canada)
Nike Inc. (U.S.)
PUMA SE (Germany)
Ralph Lauren Corp. (U.S.)
Under Armour Inc. (U.S.)
Outdoor Voices (U.S.)
Report Coverage
The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market's key players.
Drivers and Restraints
Focus On Key Brands on the Utilization of Recycled Plastic to Propel the Demand for Product
Focus on key brands on the utilization of recycled plastic is anticipated to drive the yoga clothing market growth. Major brands have been directing their focus toward utilizing recycled plastic for yoga apparel production. The increasing adoption and utilization of fitness apps and celebrities launching their product line is also set to fuel the market growth.
However, the presence of availability of various alternatives is expected to hamper the market growth.
COVID-19 Impact:
Individuals Prioritized the Maintenance of Fitness and Health As They Were Forced To Work from Home
During the time of the COVID-19 pandemic, individuals prioritized the maintenance of fitness and health as they were forced to work from home. Individuals spent long hours without physical movements which led to the adoption of physical exercise amid the pandemic, as it reduces back pain, eases arthritis symptoms and lessens the stress level. Such factors propelled the market growth along with demand for the product.
Segmentation
Bottom Wear to Lead Due To Its Popularity
On the basis of type, the market is divided into top wear, bottom wear, and others. The bottom wear segment is projected to have the largest market share due to the popularity of bottom wear being commonly used as fashion apparel.
Female Segment to Lead As Many Women Adopt and Practice Yoga
On the basis of end-user, the market is divided into male and female. The female segment dominates with the largest market share as many women use yoga to have healthy menstrual cycles and treat menstrual problems.
Offline Stores to Lead As They Offer the Chance to Physically Verify a Product's Quality
On the basis of distribution channels, the market is divided into offline stores and e-commerce stores. Offline stores are set to dominate with the largest market share as these stores offer shoppers the opportunity to physically verify a product's quality before purchasing it.
Regional Insights
North America To Lead Due To Increasing Adoption Of The Product
North America holds the largest part of the yoga clothing market share due to the increasing adoption of the product. The market stood at USD 8.56 billion in 2022 due to increasing spending on consumer products of fitness clothing. The region’s e-commerce sector is experiencing increasing consumer preference for online shopping is fueling the consumption rate.
Europe has a significant market share due to its high purchasing ability owing to the low unemployment rate and being highly health-conscious works.
Competitive Landscape
Key Market Players Have Been Shifting Their Attention toward the Production of Smart Yoga Pants
The key market players have been shifting their attention toward the production of smart yoga pants which are designed for yoga practices. The newly designed pants provide users with accurate feedback on their performances.
Key Industry Development
September 2022- Spanx launched a set of activewear which includes new tracks pants, yoga pants, tennis skirts, and others with pockets. This expanded the existing product portfolio of the company.
Browse Detailed Summary of Research Report:
https://www.fortunebusinessinsights.com/yoga-clothing-market-106312