Charting a CAGR (Compound Annual growth Rate) of about 7% through the period 2018 to 2028, the global personal exercise mats market will see an increase in demand, owing to more and more people opting for physical exercise to stay in shape. The result is largely a result of the growing trend of staying at the top of the health and fitness game. Thus, it does not surprise that only are more people subscribing to long term gym memberships and yoga classes but also that the market over the period will generate a slew of growth opportunities.
One of the most significant trends in the global personal exercise mats market, that is shaping the way consumer would behave in the future, is the rise of sustainability. The new age consumer is aware of his choices on the environment and is thus consciously taking decisions. Thus, eco-friendly materials are definitely the go-ahead for the global personal exercise mats market players over the forecast period.
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Fragmented Competitive Landscape to Mark the Global Personal Exercise Mats Market over the Forecast Period
The global personal exercise mats market is a fragmented landscape, thanks to a large number of players operating the playfield. Some of the players that have left their mark in the global personal exercise mats market are EuProMed s.r.o., Lotus Design, Airex AG, Baya, Ecoyoga Ltd., and Equilibrium DFS, among others. One of the major strategies that the players are focusing upon is investment in research and development (R&D). Additionally, a number of players are also eyeing the European market where the potential is luring a number of players to itself. This potential is attributable to rising e-commerce in the region over the forecast period.
Here again, the players that occupy the middle rung include Jade Yoga, Kurma Grip Shenzhen Haifuxing Technology Co., Ltd., Stilelibero Ltd., Uwin, and Yoga Design Laps. And one of the most significant strategies that players in the market landscape are opting for are developing low-cost variants to tap into the lower and lower middle income group people. This will lead to a significant generation of revenue for these players as the consumer base in this band is quite wide.
North America and Asia Pacific to Hold the Limelight over the Forecast Period
Region-wise, the North America will chart an impressive CAGR over the forecast period owing to an ever increasing number of people fighting obesity, an issue that marked the region over the last few years in a major way, negatively impacting the dollars burnt on handling the issue. Besides, rise in yoga studios, and wellness centres in the region is also contributing to the growth of the region in the overall personal exercise mats market. It is also worth noting here that a number of institutional buyers are also dabbling with the healthcare game, promoting the use of exercise mats in the region over the forecast periods.
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Also, it is worth noting that the trend is also catching on with the Asia Pacific (APAC) region like wild fire with more and more people going for gym membership and yoga workouts. Since the region is only entering the fitness game this intensely only now, the opportunities arising in the region are untapped and thus a number of major market players are hooked to the regions, eyeing a lion’s share of the overall growth.
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