LONDON--(BUSINESS WIRE)--Technavio has announced the top six leading vendors in their recent global yoga apparel market report. This market research report also lists nine other prominent vendors that are expected to impact the market during the forecast period.
Competitive vendor landscape
According to the research analysis, the global yoga apparel market is at a relatively nascent stage. It derives most of its growth from consumers in western countries, where the facilities and the associated adoption of yoga are stable. The global yoga apparel market is highly fragmented with the presence of multiple competitors in the market. Key market competitors are emphasizing more on business expansion to make their presence in developing regions.
“The booming travel and tourism industry will significantly contribute to the growth and expansion of the global yoga apparel market. Use of improved raw materials in yoga apparel has become one of the major distinguishing factors among key competitors. The key competitors must comply with strict environmental regulations in various countries for the supply of raw materials,” says Sharan J, a lead retail goods and services research analyst from Technavio.
The report also states that the global fitness apparel market, including the global yoga apparel market is being driven by the increase in awareness of the importance of leading a healthy lifestyle and being physically fit. Hectic work schedules and increasing health issues have been compelling people to opt for different sporting activities as a form of exercise.
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Technavio market research analysts identify the following key vendors:
adidas, along with its subsidiaries, designs, manufactures, and markets athletic, fitness, and sports lifestyle products across the world. It is considered one of the largest sportswear and fitness wear manufacturers in Europe. Its yoga apparel is made of good quality raw materials, which resist sweating and are breathable. They last longer than conventional yoga apparel.
Manduka specializes in manufacturing yoga gear and equipment. Its wide product portfolio includes apparels, accessories, blocks, bolsters, straps, blankets, yoga towels, bags, and yoga mats. The company markets yoga gear across 35 countries and caters widely to the general retail goods and services sector. The company markets its products through stores and through e-commerce distribution channels.
Nike designs, develops, markets, and sells athletic and fitness footwear, apparel, equipment, and accessories for men, women, and kids worldwide. Its brands include Nike, Converse, and Hurley.
PUMA operates as a sports and fitness brand. It provides footwear, apparel, and accessories for athletes. It offers products and accessories for various sports and outdoor activities like football, running, training and fitness, golf, and motorsports. It sells its products under the brands Puma, Dobotex, Brandon, and Cobra Golf.
Under Armour manufactures and markets apparel, footwear, and accessories for athletes, professionals, and others. The apparel segment of the company accounted for close to 70% of its total market share in 2016.
VF Corporation (VFC)
VFC provides branded lifestyle apparel, footwear, and related products for all ages in the US. It mainly operates through five business segments namely, outdoor and action sports, jeanswear, imagewear, sportswear, and other contemporary brands. Some of the key brands of the company include 7 For All Mankind, Ella Moss, Bulwark, Red Kap, Chef Designs, Horace Small, Lee, Majestic, Nautica, JanSport, and Eagle Creek.
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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, re-sellers, and end-users.
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