The yoga market size was valued at $37,462.5 million in 2019, and is projected to reach $66,226.4 million by 2027, growing at a CAGR of 9.6% from 2021 to 2027. North America leads in terms of share in the yoga market; however, Asia-Pacific region is anticipated to grow at the highest CAGR during the forecast period.Myriad of health benefits offered by yoga have resulted increase in number of individuals practicing around the world. Practicing yoga aids in effectively treating a majority of ailments such as insomnia hypertension, gastrointestinal afflictions, diabetes, anxiety, depression, psychosis, and sleep disorders. Furthermore, yoga significantly improves regulation of blood pressure, aids in prevention of diseases, stabilizes hormonal changes, maintains blood sugar, and helps in balancing bodily fluids. Such extended health benefits offered by yoga are expected to drive the market growth in the years to come.
The global population is getting impacted profoundly amidst the outbreak of the coronavirus. The virus originated in China and is now spreading all across the globe, making it a pandemic, which resulted in lockdown and ceasing of activities. The widespread lockdown has enforced humans to stay within their homes. These restrictions have decreased social interactions, which, in turn, has resulted in increase in mental stress among the population. Practicing yoga has helped practitioners to release mental stress. Furthermore, various studies have been carried out to find the effect of yoga on health.
Increase in modernization and changes in lifestyle have caused devastating effects on the health of people, which has resulted in increase in awareness of health wellness programs. Consequently, the demand for instructors and teachers has escalated multifold in the past few years. This has further boosted the number of yoga accreditation programs helping practitioners to transform into teachers and instructors to guide people while performing yoga.
Segment review
The global yoga market is analyzed depending on expenditure incurred by yoga practitioners. The report covers the study of the yoga market along with its types and geographical prospects. By type, the market is segregated into online yoga course, offline yoga course, and yoga accreditation training programs. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
By Type
Online Yoga Course segment would exhibit the highest CAGR of 12.3% during 2021-2027.
By type, the offline yoga course segment accounts for the major yoga market share; however, the online yoga market has flourished enormously, due to the outbreak of the COVID-19 pandemic. This is attributed to the fact that various online yoga platforms have emerged multifold amidst this pandemic. In addition, offline players are providing virtual classes to untap colossal opportunity arising due to widespread lockdown and social distancing norms. Considering highly infectious nature of virus and no sign of immediate recovery, the global yoga industry is transforming rapidly with much of the focus on high quality, easy to understand, and interactive virtual yoga content. Though offline classes were the major revenue contributor to the market, ongoing pandemic has certainly augmented the growth of such online platforms.
By Region
Asia-Pacific region would exhibit the highest CAGR of 10.8% during 2021-2027.
Regional review
The current pandemic disease of COVID-19 has affected several communities, countries, business, and lifestyle. Moreover, the COVID-19 has negatively affected the yoga studios or yoga classes, owing to stringent lockdown measures and social distancing norms imposed across North America. Yoga studios are likely to open in upcoming months with stringent measures such as online reservations, smaller batch size, touchless entry, and increased deep cleaning measures. However, lack of uniform standards and enforcement remains a major challenge for the players operating in the region.
Furthermore, the restrictions implemented in various fitness centers and other public places in Europe have forced people to train and exercise in confined places of their homes. This has severely affected the profitability of yoga centers in Europe. Practicing outdoor sports while maintaining physical distancing has now been permitted in most European countries and measures for indoor sports are further being relaxed. Yoga studios are now reopening in some countries such as Italy, Germany, and the UK. On the contrary, interest of people in Europe to exercise at home has increased tremendously. People have been more inclined toward bodyweight exercise, yoga, Pilates, and martial arts to stay healthy physically and mentally, which is anticipated to create remunerative opportunities for the expansion of online yoga classes.
The report focuses on the growth prospects, restraints, and opportunities of the global yoga market. The study provides Porter’s five forces analysis to understand the impact of various factors such as competitive intensity of competitors, bargaining power of suppliers, threat of substitutes, threat of new entrants, and bargaining power of buyers of the yoga market.
Some of the key players profiled in the yoga market report include Flyogi LLC., Gaia, Inc., Alo Moves, Inc., Omstars LLC., Momo Studio B.V. (Momoyoga), Yoga International, One Yoga London, Yoga Today LLC, Yogaglo, Inc., and Yogiapproved LLC.
Other players analyzed in the yoga market research study include Endurance Pilates & Yoga, Core Pilates & Yoga Studio, Breathe Pilates & Yoga, Pure International, The flow yoga and Pilates, Azulfit, the Movement Studio, Vista Equity Partners, YogaWorks Inc, and CureFit.
Key Benefits For Stakeholders
- The report provides an extensive analysis of the current and emerging yoga market trends and opportunities.
- The report provides detailed qualitative and quantitative analysis of the current trends and future estimations that help evaluate the prevailing opportunities in the market.
- The yoga market forecast is offered along with information related to key drivers, restraints, and opportunities.
- The yoga market analysis is conducted by following key product positioning and monitoring the top competitors within the market framework.
- The report provides extensive qualitative insights on the potential and niche segments or regions exhibiting favorable growth.
Yoga Market Report Highlights
| Aspects | Details |
 By Type |
|
 By Region |
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 Key Market Players | FLYOGI LLC., YOGAGLO, INC., YOGIAPPROVED LLC., ONE YOGA LONDON, MOMO STUDIO B.V.(MOMOYOGA), GAIA, INC., OMSTARS LLC, YOGA TODAY LLC, ALO MOVES, INC., YOGA INTERNATIONAL |
Analyst Review
Highly stressful and competitive world has resulted in increasing popularity of wellness and health consciousness. As a result, sharp increase in the acceptance of yoga and associated practices around the world has significantly contributed toward the growth of the global yoga market. In addition, rapid urbanization along with myriad of health issues has enforced individuals to incorporate practicing yoga in their daily routine, including but not limited to breathing exercises asana and meditation.
The global yoga industry has come up with innovative spectrum of offerings meeting the demands of increasingly tech-savvy consumers. Virtual yoga classes, social media platforms, and yoga tourism are some of the key areas where the engaged stakeholders are continuously investing, innovating, and reaping profits. Furthermore, the sub-continent of India has played a conspicuous role in proliferating yoga practices on global platforms by developing a unique market position, image, and brand through its rich heritage of indigenous knowledge coupled with strong infrastructure and skilled manpower.
The global yoga market size was valued at $37.5 billion in 2019.
The forecast period for yoga market report is from 2021 to 2027.
The base year used for calculations of yoga market is 2019.
Leading players operating in the yoga market includes Gaia, Inc., Alo Moves, Inc., Omstars LLC., Momo Studio B.V. (Momoyoga), Yoga International, and Yogiapproved LLC.
Online yoga courses segment is the most influential segment in the yoga market analysis.
The offline yoga course segment accounts for the major yoga market share in the year 2019.
The company profile has been selected based on revenues, geographical presence, market penetration and product offerings.
The global yoga market is expected to reach $66.2 billion in the year 2027.
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