The yoga market: an endless boom
If a friend or colleague of yours hasn’t reported attending a yoga class at least once — you might be in the minority. It might go by different names, Hatha Yoga, Vinyasa, Hot Yoga or even Yogalates — but it all comes down to one fact: yoga is seemingly everywhere. According to a 2016 Yoga Journal report, 36.7 million people practiced yoga in the United States alone. Four years prior, that same number of people was 20.4 million. That’s almost 80 percent! If you want to think about that financially, the market for yoga was worth $16 billion USD in the United States in 2016 and $80 billion USD globally.
The market for yoga and exercise mats is no less impressive. In 2020, that market is expected to grow over $3 billion USD and reach sales of 14.3 billion USD. If you want to practice yoga at home, a mat is necessary — so it’s no surprise that these sales are reaching record highs. Each yogi has a different favorite mat, so you might hear brands like Lululemon Athletica, Barefoot Yoga or Jade Yoga — just to name a few. All of this to say that, the yoga business is booming. From the classes themselves to the actual material that yogis practice on are all experiencing high growth in sales all across the world.
Have you noticed it in your own community? Just think to yourself if you’ve noticed a new sign for the opening of a studio in your neighborhood, or perhaps your gym is now offering complementary classes. Perhaps even more subtle is your favorite clothes store now selling yoga pants or supplying brands that could be categorized as athleisure. All across the United States, yoga is fast becoming the go-to class and the way that people not only stay active, but mindful. In the nonstop American culture, it’s important to take a moment and breathe. Yoga does just that, which is why it’s so popular. It lets us unwind while including exercise in a short 60 to 90-minute session.
And it’s not just limited to America. Yoga is popping up everywhere you look. Celebrity trainers mention their favorite yoga and barre studios in London and Paris. Berlin is known for kick starting beer yoga and even in small villages across Europe, Africa and Asia — yoga is becoming popular.
Part of that is the spread of technology and nowhere can you find a better community place suited for it than yoganect. Depending on where you live, it can be hard to find your own yoga community. Youtube and other online resources mean that you can practice at home — but part of the joy of yoga is meeting likeminded people and learning new things together. Yoganect brings together the community and social networking aspect of yoga while offering the chance to book events, attend retreats and meet other yogis, teachers and influencers from all across the world.
What’s so magical about yoga is that the marketplace for it is constantly growing. As more and more people discover the physical and mental benefits of it, it’s only natural to assume that more people will want to partake. There are countless different types of yoga, so try them out — one just may be for you. Luckily, the market for yoga just continues to expand, which means that the options and innovations will continue to grow. And more yoga is never a bad thing.
