Yogic Revolution: Yoga Retreats Advance, But Can They Satiate the Consumer Trends? Insights from FMI Analysts!
Future Market Insights, Inc.
10 min read
The severely nerve-racking and competitive environment has resulted in the surging traction of fitness and health cognizance. The acute soar in the adoption of yoga and linked patterns has amply been bestowed in the direction of the growth of the global yoga industry
NEWARK, DE / ACCESSWIRE / December 5, 2024 / The Yoga Market from 2024 to 2034 is poised for remarkable growth, with its valuation set to escalate from USD 119.1 billion in 2024 to an impressive USD 288.0 billion by 2034. This projected expansion, fueled by a CAGR of 9.20%, reflects the increasing global adoption of yoga as a mainstream wellness practice.
Numerous stimuli advance yoga market growth, comprising the escalating perception and cognizance of health and wellness, the spurring fitness demand, health maintenance, and wellness actions, and the thriving choice for home workouts and online yoga curriculums. The market is augmented by the launch of favorable government proposals to stimulate yoga and the intensifying demand for yoga and meditation embodying wellness routines
The growth trajectory of the yoga market is underpinned by rising health awareness, government wellness campaigns, and corporate wellness initiatives worldwide. Notably, the demand for yoga accessories, classes, and specialized retreats is experiencing a sharp uptick. An increasing number of consumers are incorporating yoga into their daily routines to manage stress, enhance physical fitness, and improve mental well-being.
Technological integration in the form of virtual yoga classes and mobile applications has played a pivotal role in making yoga accessible to millions. Platforms offering on-demand yoga tutorials have surged in popularity, especially during the pandemic, with the trend showing sustained momentum.
Another key driver is the expansion of yoga tourism. With destinations offering immersive yoga retreats in serene settings, the sector is drawing travelers seeking holistic experiences. This trend is expected to remain a significant contributor to revenue generation in the coming decade.
The offline yoga course segment in the delivery mode category to procure a share of 74.30% in 2024.
In the age group category, the 30-50 years segment to garner a market share of 43.50% in 2024.
The United States yoga industry imply augmentation at a CAGR of 9.50% between 2024 and 2034.
The United Kingdom yoga market indicates a CAGR of 10.40% from 2024 to 2034.
China yoga and meditation market indicates a CAGR of 9.90% through 2034.
Japan's demand for yoga indicates a CAGR of 10.70% from 2024 to 2034.
South Korea yoga market reflects expansion between 2024 and 2034 at a CAGR of 11.60%.
The United Kingdom yoga adoption to experience an absolute dollar growth of US$ 7.30 billion through 2034.
The United States yoga market to witness an absolute dollar growth of US$ 30.90 billion between 2024 and 2034.
China yoga industry to see an absolute dollar growth of US$ 27.80 billion from 2024 to 2034.
South Korea's demand for yoga to observe an absolute dollar growth of US$ 12.50 billion through 2034.
Japan yoga and wellness market to vouch an absolute dollar growth of US$ 20.30 billion between 2024 and 2034.
"The yoga market demonstrates an exceptional trajectory, driven by the convergence of health consciousness and digital transformation. With governments and corporations actively promoting wellness, yoga is no longer confined to niche audiences but has evolved into a mainstream global movement. "Opines Sudip Saha, managing director at Future Market Insights (FMI) analyst.
Component Insights
Yoga Accessories: Yoga mats, blocks, straps, and other accessories dominate the market, accounting for over USD 50 billion in 2024. With rising consumer demand for eco-friendly and premium-quality products, this segment is expected to witness sustained growth.
Yoga Services: Yoga classes, workshops, and retreats are key revenue contributors. Virtual classes, powered by platforms like YouTube and subscription-based apps, are predicted to experience a 12.5% CAGR over the forecast period.
Yoga Technology: Wearables and AI-driven applications are transforming how yoga enthusiasts track progress, enabling a more tailored approach to practice.
Market's Prime Determinants of Growth, Trends, and Opportunities
Drivers:
Rising prevalence of lifestyle-related illnesses such as obesity and stress disorders.
Government campaigns like International Yoga Day fostering widespread participation.
Growing interest in holistic wellness among millennials.
Trends:
Surge in demand for sustainable yoga products.
Increasing penetration of AR/VR in virtual yoga tutorials.
Growth in corporate wellness programs integrating yoga sessions.
Opportunities:
Expansion into untapped markets in Africa and South America.
Partnerships with fitness clubs and sportswear brands.
Regional Outlook
Asia Pacific is paramount in the yoga and meditation market, with India governing the regional market. Yoga's escalated entrance in countries like India and Japan and its steadily proliferating prevalence in other nations, including China, Thailand, and Australia, have conducted to the Asia Pacific market growth for yoga. The prevalence of affluent yogic culture, conventional proficiency, and many yoga institutes in the Asia Pacific nations expedite the market expansion of yoga.
The United States plays an important role in the North American market. Any alterations from the United States impact the evolution trend of Yoga. The escalation in the adoption of leading-edge technology and the presence of cosmic yoga vendors in North America generate considerable growth opportunities for the yoga market between 2024 and 2034.
Key Companies & Market Share Insights
The yoga providers continue to launch monitoring sustainability, attainability, and consumer participation. The escalating choice for offline and online yoga experiences, associated with the upsurge of yoga authorization strategies, accentuates the sector's versatility in satisfying practitioner requirements.
The role of yoga in corporate health and wellness programs is a conducive element to yoga market expansion, with more corporates proposing Yoga as an adjunct to employee healthiness stratagems
Momentous Advancements
•Akhanda Yoga Institute is going to offer a 200-hour Yoga Teacher Training in November 2024, concentrating on authentic, broad activities and professional educational materials.
•Akhanda Yoga Institute, in January 2024 is set to establish a digital Yogic Agni Hotra Chanting Book to assist individuals in intensifying their yoga exercise and awareness.
•Peloton and Lululemon made a strategic partnership of 5 years in September 2023, tacking together athletic wear and fitness matters to prompt a community of more than 20 million people.
Leading players shaping the yoga market include:
CorePower Yoga
Honor Yoga
Pure Yoga
Glo Digital, Inc.
YogaOne
YogaSix
Yoga Pod
MoreYoga
Power Yoga Canada
Flyogi LLC
Country-wise Yoga Market Analysis (2024 to 2034)
Country
CAGR% (2019-2023)
CAGR% (2024-2034)
Key Highlights
South Korea
18.9%
11.6%
Rising trend of fusion yoga combining traditional practices with Korean meditation. Corporate wellness programs gain momentum with increasing focus on work-life balance.
Japan
15.0%
10.7%
Aging population drives demand for therapeutic yoga. Eco-conscious yoga studios and niche practices like postpartum yoga flourish.
United States
12.4%
9.5%
Celebrity branding fuels adoption. Hybrid studios combining yoga with HIIT and Pilates gain popularity, alongside unique offerings like aerial and beer yoga.
United Kingdom
14.7%
10.4%
Diverse yoga options for niche communities (seniors, LGBTQ+). Growth in yoga tourism integrating practices with British culture and heritage sites.
Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector across verticals in APAC, EMEA, and the Americas reflecting his growth-oriented approach to clients.
He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client's requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting' at the ET Inspiring Leaders Awards 2022.
Top Reports Related to Services and Utilities Market:
The private tutoring market size is marked to progress at a CAGR of 9.3% through 2034. Parents' trust in private tutors for their children's education boosts their demand. A variety of lessons offered by private tutors enhances the market outlook.
The FMCG logistic market share is set to progress at a CAGR of 4.1% through 2034. The eCommerce sector within FMCG logistics is shaking the demand.
The car rental service market size is projected to reach a value of USD 3,09,703.4 million in 2024, at a CAGR of 7.3% from 2024 to 2034. Car rental service sales are likely to be USD 6,25,867.4 million by 2034.
The global pest control service market is slated to register a CAGR of 6.5% over the period from 2024 to 2034. Demand is estimated to be worth USD 24,416.6 million in 2024. By 2034, sales are anticipated to have reached USD 49,665.8 million.
The handyman service market demand is anticipated to reach USD 1.8 billion by 2033 from an estimated USD 390.9 million in 2023. The handyman services industry is projected to develop at a healthy CAGR of 16.5% through 2033.
The global personal fitness trainer market is estimated to be valued at USD 41.8 billion in 2023 and is projected to surpass a valuation of USD 65.5 billion by 2033. Adopting personal fitness trainer services is likely to rise at a CAGR of 4.6% from 2023 to 2033.
The yacht charter market trends is estimated to be valued at USD 19 billion in 2023 and is expected to reach a valuation of USD 31 billion by 2033.
The global power rental market is expected to be valued at USD 10.22 Billion in 2023. With the fast development of the industrial sector, coupled with the rising need for an uninterrupted and dependable power supply, the overall demand for Power Rental is projected to grow at a CAGR of 6.0% between 2023 and 2033, totaling around USD 18.31 Billion by 2033.
The global eCommerce logistics market is predicted to reach USD 626.23 billion in 2023. It is anticipated to develop at a CAGR of 17.8%, reaching USD 3221.36 billion by 2033. The global eCommerce logistics business is anticipated to be valued at USD 531.6 billion in 2022.
The global online laundry services market garnered a market value of USD 31 Billion in 2023 and is expected to accumulate a market value of USD 450 Billion by registering a CAGR of 30% in the forecast period 2023 to 2033.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries. Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.
