Innovation plays a vital role in the global yoga accessories market not only because it helps to differentiate the products of one market player from that of another, but also because it improves the performance of users. Many vendors have started offering innovative yoga accessories such as mats in various colors, patterns, and designs. The vendors offer yoga mats that are developed from natural jute and rubber. Consumers are willing to invest heavily in these premium products due to factors like superior quality and durability. The launch of such innovative and premium products is expected to help vendors widen their profit margins and gain a competitive edge during the forecast period. Acquire Market Research analysts have predicted that the yoga accessories market will register a CAGR of almost 7% by 2023.
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Growing number of yoga practitioners
The increase in the number of yoga practitioners across the world is driving the market for yoga accessories. Yoga is gaining popularity as a form of fitness activity, especially in North America. The increasing awareness of yoga and a subsequent rise in the number of people practicing it in most parts of the world will directly influence the sales of yoga products, including accessories.
Fluctuating raw material prices
In recent times, key manufacturers such as lululemon athletica are experiencing fluctuations in their profit margins due to the fluctuating prices of raw materials. Additionally, due to the non-availability of good quality polyester fibers, their prices are also rising. Subsequently, such volatility is resulting in high prices of yoga accessories made using these raw materials.
For the detailed list of factors that will drive and challenge the growth of the yoga accessories market during the 2019-2023, view our report.
The yoga accessories market appears to be fragmented and with the presence of several vendors. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the markets competitive landscape and offering information on the products offered by companies.
Table of Content:
PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
2.3 Currency conversion rates for US$
PART 03: MARKET LANDSCAPE
Market segmentation analysis
PART 04: MARKET SIZING
Market sizing 2018
Market size and forecast 2018-2023
PART 05: FIVE FORCES ANALYSIS
Bargaining power of buyers
Bargaining power of suppliers
Threat of new entrants
Threat of substitutes
Threat of rivalry
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