LONDON--(BUSINESS WIRE)--Technavio’s latest report on the yoga and exercise mats market in North America provides an analysis on the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
The research study by Technavio on the yoga and exercise mats market in North America for 2017-2021 provides a detailed industry analysis based on the product (yoga mats and exercise mats), country (the US and Canada), and distribution channel (mono-brand stores, department stores, and online retail).
|Mats that are used to practice yoga and other fitness exercises are considered as yoga and exercise mats, and they are manufactured using various raw materials such as natural rubber, synthetic rubber, jute, and cotton. Technavio analysts forecast the yoga and exercise mats market in North America to grow to USD 15.06 billion by 2021, at a CAGR of more than 5% over the forecast period.|
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The top three emerging trends driving the yoga and exercise mats market in North America according to Technavio consumer and retail research analysts are:
- Increasing focus on the use of sustainable raw materials
- Growth in the organized retail
- Product innovations
Increasing focus on the use of sustainable raw materials
“The rise in awareness and need to adopt green, sustainable practices are encouraging manufacturers in the market to adopt sustainable raw materials, which are biodegradable in nature,” says Manu Gupta, a lead analyst at Technavio for retail goods and services market.
Some of the popular raw materials used for the manufacturing of sustainable yoga and exercise mats include natural rubber, polymer environmental resin (PER), jute, and cotton. Yoga and exercise mats manufactured by using these materials can be easily decomposed in the landfills and helps to provide a sustainable solution to the consumers.
Growth in the organized retail
The yoga and exercise mats are sold through various distribution channels in North America, where organized retail is one of the most preferred retail channels. Yoga and exercise mats are significantly sold through mono-brand stores, supermarkets, department stores, and hypermarkets. For instance, in 2016, Costco Wholesale announced its plans to open more than five stores in the fiscal year 2017 in Canada. Similarly, Walmart also opened its new outlet in Mississauga, Canada in late 2016. Such ambitious expansion plans are expected to have a direct impact on the growth of the market.
“The manufacturers of yoga and exercise mats are constantly introducing new technologies and features to increase customer satisfaction and intensify sales. Smart mats are the latest trend in the market, attracting many consumers,” says Manu.
For instance, Indiegogo has developed smart mat embedded with more than 20,000 sensors, which provide the practitioner a vital information regarding the body alignment and correctness of the postures. These smart mats can be tethered to the smartphones with the help of Bluetooth technology.
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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