Yoga & Meditation Product Industry Booms in North America, Poised to Reach US$ 39.7 Billion by 2034 | FMI

Thriving on wellness trends, North America's Yoga and Meditation Product Industry booms, catering diverse products to a health-conscious market.

NEWARK, DELAWARE, UNITED STATES OF AMERICA, December 8, 2023 /EINPresswire.com/ -- The North American yoga & meditation product industry size is poised to cross US$ 19,292.2 million in 2024 and is likely to attain a valuation of US$ 39,755.4 million by 2034. The market is projected to develop at a CAGR of 7.5% from 2024 to 2034.

Innovative products like wearable electronics and high-tech yoga mats have become popular in the yoga and meditation community. Market participants strategically launch cutting-edge and creative services to gain a larger consumer base. Profiting from the growing number of people who have access to the internet, companies are increasingly providing extra incentives for online purchases, such as discounts.

One of the primary benefits of yoga and meditation is that they are very adaptable. Anyone can do it at home with little equipment and without difficulty. Incorporating yoga and meditation programs into employee wellness efforts has become increasingly popular in the corporate sector since it aims to improve general well-being and productivity. The corporate sector's rapid adoption of these practices reflects people's growing awareness of their all-encompassing advantages.

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Key Takeaways from the North America Yoga & Meditation Product Market Report:

In 2023, the market size stood at US$ 17,879.6 million.

The wearables product type segment occupied 74.5% of the market shares in 2024.

The residential end user segment captured 46.8% of the market share in 2024.

The market size in the United States is projected to rise at a 7.9% CAGR through 2034.

The market size in Canada is anticipated to develop at a 12.3% CAGR through 2034.

“Growing awareness of the health benefits of yoga and meditation, increased stress levels, and technological advancements that improve accessibility and convenience are driving the yoga & meditation product market in North America,” - Sneha Verghese, Senior Consultant for Consumer Goods and Products at Future Market Insights (FMI).

Competitive Landscape:

Technology integration is becoming a vital battlefield, especially in wearables and digital platforms. Businesses compete to improve the user experience by utilizing cutting-edge applications, smart gadgets, and online communities to establish unique selling points and increase client retention.

Recent Developments:

Evolve Yoga, a new transformative yoga format with an evidence-based approach to promote flexibility and mobility, was unveiled by Cult.fit in September 2023. With this addition, Cult.fit.

In September 2023, Yoga Anytime and Oura Ring, a wearable that monitors activity and sleep, collaborated. Users of Yoga Anytime may now receive customized class suggestions using Oura Ring data due to this cooperation.

Key Companies of Yoga & Meditation Product Industry analysis in North America:

Core Power Yoga
Equinox
Gold's Gym
Lifetime Fitness
SoulCycle
YMCA
Obé Fitness
Peloton Digital
POPSUGAR Fitness
Yoga Anytime
YogaGlo
Alo Moves
Gaia
Down Dog
Virgin Pulse
Grokker
Lululemon Athletica
Nike
Adidas
Under Armour
New Balance
Columbia Sportswear
Others (as requested)

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North America Yoga & Meditation Product Market Segmentation:

By Product Type:

Wearables
Smart Sleep Masks
Meditation Headbands & Earplugs
Fitness Trackers
Clothing & Accessories
Devices
Meditation Cushions and Benches
Weighted blankets
Yoga Mats & Other Props
Other Devices

By End-use Sector:

Residential
Schools & Corporate Industry
Infotainment
Other End User

By Sales Channel:

Direct Sales
Modern Trade
Departmental Stores
Specialty Stores
Independent Small Stores
Online Retailers
Others

Authored by:

Sneha Varghese (Senior Consultant, Consumer Products & Goods) has 6+ years of experience in the market research and consulting industry. She has worked on 200+ research assignments about Consumer Retail Goods.

Her work primarily focuses on facilitating strategic decisions, planning and managing cross-functional business operations technology projects, and driving successful implementations. She has helped create insightful, relevant analyses of Food and beverage market reports and studies that include consumer market, retail, and manufacturer research perspective. She has also been involved in several bulletins in food magazines and journals.

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About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Ankush Nikam
Future Market Insights, Inc.
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