The global yoga market, valued at $37.5 billion in 2019, is projected to grow to $66.2 billion by 2027, reflecting a compound annual growth rate (CAGR) of 9.6% from 2021 to 2027. While offline yoga courses currently dominate the market, the online segment is anticipated to experience the highest growth in market share in the coming years.
According to a recent report from Allied Market Research, the study outlines anticipated revenue trends and emerging opportunities within the industry. It includes various analytical tables and graphs to highlight market complexities, alongside a thorough assessment of factors influencing market growth.
The report provides a comprehensive evaluation of both drivers and restraints affecting the yoga market, enabling stakeholders to identify significant opportunities. Furthermore, it offers insights into regional market dynamics and an analysis of leading industry players, detailing their financial strategies, profit segments, service offerings, and key approaches.
Market Segmentation
The report segments the global yoga market based on practitioner expenditures, analyzing three main categories: online yoga courses, offline yoga courses, and yoga accreditation training programs. It also examines regional markets, including North America, Europe, Asia-Pacific, and LAMEA.
Key Players
Prominent companies in the yoga market include Alo Moves, Inc., Flyogi LLC, Gaia, Inc., Momo Studio B.V. (Momoyoga), Omstars LLC, One Yoga London, Yoga International, Yogaglo, Inc., Yoga Today LLC, and Yogiapproved LLC.
Recent trends show a rising interest in hybrid yoga experiences, such as yoga combined with sports, surfing, cruises, detox programs, and wine, alongside traditional offerings like yoga and meditation. These engaging formats have led to increased enrollments, a trend expected to continue as social distancing measures ease.
Key Findings
North America leads the yoga market share and is expected to maintain this position throughout the forecast period.
The offline yoga course segment was the largest in 2019, but the online course segment is expected to gain significant market share.
The Asia-Pacific region is projected to grow at a robust CAGR of 10.8% during the forecast period.
Strategic Insights
The report emphasizes the importance of strategic planning for mergers and acquisitions, identifying potential partners, and gaining insights for tactical initiatives. It also encourages businesses to explore licensing opportunities and recognize emerging competitors to enhance market positioning.
Analyst Review
The yoga industry is evolving with innovative offerings that cater to increasingly tech-savvy consumers. Virtual classes, social media engagement, and yoga tourism are key areas of investment. Additionally, India plays a vital role in promoting yoga globally, leveraging its rich heritage and skilled workforce.
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