Yoga is a global industry worth a billion dollars. More and more people are looking for balance and wellness. This growth shows the rising popularity of yoga. It also presents big opportunities for B2B businesses, including yoga apparel suppliers.
To know how yoga can help you achieve your business goals, you must understand the different areas and methods of yoga market.
In this post, we’ll look at the size of the yoga market and how this trend is changing the wellness landscape. Stay with us!
Table of Contents
How Big Is The Yoga Market? Someting You Need Know
Global Yoga Market Trend
| Year | Market Size (Billion USD) | Practitioners (Million) | Clothing Revenue (Billion USD) | Equipment Revenue (Billion USD) | Growth Rate (%) |
|---|---|---|---|---|---|
| 2018 | 42.4 | 300 | 12.5 | 5.8 | 9.8 |
| 2019 | 46.7 | 320 | 13.8 | 6.2 | 10.1 |
| 2020 | 48.2 | 335 | 14.2 | 6.5 | 3.2 |
| 2021 | 54.9 | 350 | 16.0 | 7.1 | 13.9 |
| 2022 | 62.1 | 370 | 18.2 | 7.8 | 13.1 |
| 2023 | 70.3 | 390 | 20.5 | 8.6 | 13.2 |
For details on “Exploring The Demand For Cotton Yoga Clothes In The Fitness Apparel Market,” click here. You can also discuss it with our experts.
Yoga Market Segmentation
The global yoga market is segmented into yoga studios, online classes, yoga accessories, apparel and retreats. In 2023 offline yoga courses make up 74.3% of the total revenue. But, online yoga classes are growing fast. Tech and better access, especially post-pandemic, are driving this.
Market Growth Drivers
- Health and Wellness Awareness: A key driver of market growth is the rising awareness of yoga’s health benefits. More consumers are using yoga to reduce stress, improve flexibility, and boost well-being.
- Digital Transformation: The shift towards online yoga classes has been significant, especially post-pandemic. Analysts project that online platforms will grow at a CAGR of 10.5%, making yoga more accessible to diverse demographics.
- Yoga Tourism: It’s a $168.9 billion growth market. Travel firms and hotels cater to those seeking wellness retreats and unique experiences.
It is very important to understand the yoga market segmentation. If you need a fitness supplier or sportswear manufacturer in China, please contact us. You can rest assured that we will control the quality of our products.
Regional Yoga Market Share
The yoga market is growing due to rising consumer interest, government support, and cultural integration. Key areas are growing fast.
★ Asia Pacific Region
Asia Pacific is the largest contributor to the global yoga market with 37.2% of the market share in 2023. This growth comes from a large, diverse consumer base, rising incomes, and a growing awareness of yoga’s health benefits. Countries like India, China and Japan are seeing more people take up yoga.
★ North America
North America led by US and Canada is another big market for yoga, adoption is increasing. The region will grow at a CAGR of 8.8% during the forecast period. Key drivers of growth are strong health conscious culture, large number of yoga studios and growing online yoga platforms.
Corporate wellness programs and celebrity endorsements are also contributing to the growth. Now is the time to capitalize on these trends to expand your brand in this region.
★ Europe
Europe has a big market share with countries like Germany, UK, France and Spain driving the demand. These countries have health-conscious, wealthy populations. They are boosting yoga products and services.
★ Other Regions
Latin America and Middle East & Africa are smaller markets but are taking up yoga. Growing health awareness and growth of yoga studios and wellness centers is driving this trend.
These insights will help you decide where to expand your yoga business and serve local consumers.
Number of Yoga Practitioners
Yoga is growing globally with over 300 million people practicing it worldwide. This growth in participation is showing yoga’s mainstream appeal across many segments.
| Country | Number of Practitioners | Additional Information |
|---|---|---|
| Global | 300+ million | Growing mainstream appeal across many segments |
| USA | 36-38 million | 10-11% of population, $16 billion spent annually |
| Canada | 7.6 million | Popular in North America |
| Australia | 1.5 million | 1.7-2.9% of adult population |
| India | 150 million | Birthplace of yoga, part of the culture |
| China | 10 million | Growing as wellness trend increases |
| Japan | 7.7 million | Expected to double in the next few years (as of 2017) |
Global yoga market is expected to reach $66.2 billion by 2027 with 9.6% annual growth from 2021 to 2027. This rise in practitioners is a chance for wellness, fitness, and apparel businesses. For yoga businesses, this steady growth means a larger customer base.
If you are thinking about starting your own yoga business, it is recommended that you read this article.
Online Yoga Market
Online yoga market is growing fast and will continue to grow. 67% of all yoga practitioners practice yoga online, shows a clear shift towards digital. As demand for flexibility and convenience grows, online yoga courses will grow at 10.5% CAGR in the next few years, reflecting the market growth.
Global Online Yoga Growth and Trends
Global online fitness market including yoga is expected to reach $59.23 billion by 2027, shows the commercial potential of this space. Yoga app downloads grew 65% during COVID-19. This shows the yoga community has adapted to digital. YouTube’s yoga video views grew 40% in 2020. This shows a demand for online yoga content.
Market Engagement and Innovation
Virtual yoga is gaining popularity beyond online classes. 68% of yoga practitioners want to try VR yoga. This new way of practicing yoga offers immersive and interactive experiences. Samsung’s partnership with YogiFi, an Indian health-tech startup, shows how tech is changing online yoga. Smart TVs and AI yoga mats are improving the experience.
Expert Tip: Online yoga has many benefits for both practitioners and businesses. Practitioners can practice at home, at their own pace and on their own schedule. It lets you meet the demand for virtual fitness.
Davit A, Product Manager
Opportunities for B2B Stakeholders
- Corporate Partnerships: Partnering with companies to offer yoga programs can boost employee well-being. It can also provide studios with a steady revenue stream.
- Equipment Sales: As demand for yoga products rises, businesses can partner with manufacturers or retailers to supply quality yoga gear.
- Franchising Opportunities: Established brands can offer franchises. This lets entrepreneurs enter the growing yoga market with support from recognized names.
- Hybrid Classes: Studios can reach more people by offering hybrid classes that mix in-person and online experiences.
From the above information, we can see how big is the yoga market . If you want to know the best yoga clothing brands, where Lululemon’s clothes are made, it can help you get marketing inspiration for your business development.
End
The expanding yoga market presents numerous opportunities for B2B stakeholders across various sectors. By recognizing evolving consumer preferences and leveraging technological advancements, businesses can effectively position themselves within this vibrant industry landscape.
If you are paying attention to the yoga wear market and want to customize different types and specifications of yoga wear, please feel free to send us a message or [email protected].
FAQs
1. How big is the yoga market in terms of practitioners?
Over 300 million people practice yoga worldwide, showcasing its significant reach and influence.
2. How big is the yoga market for clothing and gear?
The yoga clothing market alone is valued at $20.5 billion in 2023, while the equipment market is worth $8.6 billion.
3. How big is the yoga market in India?
India, the birthplace of yoga, has 150 million practitioners. It is one of the largest yoga markets.
4. How big is the yoga market in terms of annual growth?
The yoga market grows by about 13.2% each year. This shows a strong, expanding industry.