Analysis on Impact of COVID-19 – Technavio Evaluates the Impact of Product Premiumization Owing to Innovation in Yoga Accessories, and Growing Obese…

Posted: May 13, 2020 at 10:41 pm

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LONDON--(BUSINESS WIRE)--The yoga mat market is likely to experience steady growth because of product premiumization owing to innovation in yoga accessories, and the growing obese population and increasing health consciousness. Rising at a CAGR of over 6%, the market is estimated to have an incremental growth of USD 480.87 million by 2024. Download Free Sample Report

A Technavio analyst says, "The extension of containment efforts due to the spread of COVID-19 has severely impacted businesses and economic activities worldwide. If the containment efforts go beyond Q2 2020, the global yoga mat market will witness a significant downsurge compared to our base case estimate."

Technavios recent analysis of the yoga mat market includes a detailed examination of its revenue forecasts, including market drivers and challenges, key market participants, and growth opportunities. The study segments the markets in North America, Europe, APAC, South America, and MEA, geographically. The North America region is expected to have a market share of 34% and will offer significant growth opportunities for market players during the forecast period.

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Inconsistent pricing of raw materials and the rising popularity of outdoor sports activities might hamper market growth. However, wellness initiatives being undertaken by government and corporate agencies will positively influence the growth of the global yoga mat market.

Technavios analysis of the yoga mat market also includes:

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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavios report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavios comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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Analysis on Impact of COVID-19 - Technavio Evaluates the Impact of Product Premiumization Owing to Innovation in Yoga Accessories, and Growing Obese...

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May 13th, 2020 at 10:41 pm

Posted in Yoga