Personal Exercise Mats Garner Sales in ‘Non-PVC’ Category as Quest for High Sustainability Quo Remains Pervasive, Finds Fact.MR
Published : 26 Jun 2019 Industry: Consumer Goods
Sales of personal exercise mats exceeded 130 thousand units in 2018, according to a recent Fact.MR study. By the end of 2019, the sales are envisaged to register a Y-o-Y growth of 7%. While a paradigm shift of consumers to healthier lifestyle practices has been a prominent factor underpinning sales of personal exercise mats among individuals, the report expects an increasing number of institutional buyers to emerge as a strong demand determinant in the years to come.
“While the rising costs and health issues may seem like doom and gloom, personal exercise mats manufacturers look forward to capitalize on consumers’ increased focus on overall wellness. Growing participation of consumers in physical activities, coupled with a significant rise in the adoption of yoga as a part of curriculum across various academic institutions, has translated into a significant hike in sales of personal exercise mats,” says the analyst at Fact.MR.
Yoga, one of the most widely practiced fitness activities worldwide, accounts for a multibillion dollar market – yoga mats, being one of the several product beneficiaries. The number of professional and amateur yoga practitioners is increasing at a staggering rate, recently, which is further transforming into high sales of yoga mats and other type of personal exercise mats. The study finds that yoga mats accounted for ~45% of total personal exercise mats sales recorded in 2018, half of which remain concentrated in the North American region, particularly in the U.S. With growing manufacturing focus of companies on mats that are thick, sturdy, and have a high sticky factor, it is highly likely that yoga mats will remain among the popular personal exercise mats over other counterparts. Rising popularity of anti-skid yoga mats is currently a thriving trend, as indicated by the report.
Institutional Sales Uplift Prospects of European Market
Institutional buyers, accounting for a whopping 85% of sales, have been creating significant demand for personal exercise mats. As per the study, institutions buyers will continue to extend a substantial contribution to personal exercise mats market on account of the increasing number of yoga studios, fitness clubs, and wellness centers.
North America, closely trailed by Europe, has been leading the personal exercise mats sales. The report particularly highlights that the gains have been spectacular in European market, over the recent past, attributing to the dramatic rise in institutional sales of personal exercise mats within the region. The market will also remain influenced by the increasing number of yoga and Pilates practitioners in the non-traditional markets.
The global sustainability drive has been invading the fitness industry as well, as a result of which the manufacturers of fitness accessories, such as personal exercise mats are zooming in the focus on the raw materials. As the growing number of conscientious consumers are prioritizing the eco-friendly quotient of products that they use, along with the comfort, it is more likely that the use of sustainably sound raw materials will mark an important trend among the manufacturers of personal exercise mats. Consequently, although polyvinyl chloride (PVC) exercise mats have been the bestsellers owing to their higher sticky factor, organic cotton and similar materials have been recently registering strong growth in sales, banking on the reduced environmental impact. The study identifies healthy growth prospects facing non-PVC personal exercise mats in the forthcoming years.
Several manufacturers are also adopting advanced technologies to introduce durable, sweat-proof, anti-skid, and other personal exercise mat variants in the market. Steadily increasing penetration of personal exercise mats that specifically offer users a relaxing feel that plays an instrumental role in delivering the soothing impact of yoga and meditation, has been further adding to the market attractiveness of personal exercise mats. Recently, Blank Yoga, a recognized yoga mat company, has narrowed its focus on developing a range of self-cleaning yoga mats, which is likely to gain ground in the market.
This Fact.MR study provides a long-term outlook of the personal exercise mats market for the period, 2018 to 2028. The personal exercise mats market is envisaged to register a CAGR of ~7% through 2028.