Yoga Industry Growth, Market, Trends & Analysis 2024

The yoga industry has really come into its own in recent years. It’s benefited from numerous headwinds and complimentary trends, like the growth of boutique fitness and rise of athleisure. So, what’s next for the global yoga market and how can you tap into the (spoiler alert) rising tide?

In this article – we explore the latest yoga industry statistics, market data, and trends, then analyse what it means for the future.

We’ve spent 15+ years working in the wellness industry, from leading gym chains to global equipment manufacturers, so know the market inside-out. We proactively study the ever-changing landscape, highlight new trends, and analyse the big players. For the last 5 years, we’ve shared this expertise with the wider industry through our articles and Research Reports which are available to purchase.

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Yoga Industry Growth

The yoga industry is worth over $117.2bn worldwide and expected to grow at a compound annual growth rate (CAGR) of 9.4%!

And that’s just studios, once you account for retreats, clothing, mats, blocks, and other accessories, the global yoga market size is well over $338bn.

• USA – the American yoga studio market is worth £11.8bn and currently experiencing flat growth (IBIS World)
• UK – the studio market is worth £895m (down £13m from last year) and decreasing at 2.7% each year. (IBIS World)
• Australia – the studio industry is worth $635m and decreasing at 3% each year. (IBIS World)
• Asia Pacific – is the biggest regional yoga market accounting for 37.2% of revenue. (Grand View Research)
• Japan – has seen a 413% increase in the number of yoga practitioners in the last five years. (Grand View Research)
• China – yoga-related revenue in China was expected to almost double from 25.4 billion yuan ($3.6bn/£2.9bn) to 46.8 billion yuan ($6.6bn/£5.3bn) over a five year period. (Statista)

There are 48,547 yoga studios in the USA, 4833 in the UK, and 3314 in Australia. But, as with other areas of the fitness industry, it’s the Asia Pacific region that’s expected to see the highest growth over the coming years.

Let’s look at some of the yoga market sectors beyond traditional studios…

• Apparel – the yoga clothing market is worth $29.8bn globally in 2024 and expected to grow at around 7.8% CAGR.
• Equipment – the yoga mat industry generates $8.9bn worldwide and continues to grow at 6.8% each year.
• Tourism – the yoga tourism market which includes yoga retreats, is projected to reach $182.5bn in 2024 (overall wellness tourism is worth $1.03 trillion).

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Trends in the Yoga Industry

Yoga has a long and rich history but it’s not been left behind like other fitness trends. It continues to adapt and evolve, keeping pace with current times.

According to Google data, top yoga trends include kids yoga, restorative yoga, yoga teacher training, goat yoga, and YouTube yoga. Could your business tap into these opportunities?

Yoga features consistently in the top 20 fitness trends compiled by the ACSM annually. However, it is ranked number 15 in 2024, down from number 7 just five years previously.

So, although the market research predicts that yoga is a growth area, other exercise industry trends are currently proving more popular.

The yoga pants trend and mainstreaming of athleisure looks set to continue, although at a slower pace than previously. Sportswear hit the height of fashion a few years back and is no longer as trendy as it once was. But the trend towards owning yoga pants in statement colours or bold patterns continues to drive sales, as Lululemon and Alo Yoga can attest.

We’re also seeing the same yoga fashion trends impact the mat industry. This sector has exploded in recent years as these products increasingly become a style accessory and not just equipment. Mats are available in a huge range of colours, patterns, and even custom designs. 

You might also like… Nutrition Market Size, Growth & Trends 2023 or our Complete Industry Insights Hub. 

Yoga Industry Analysis

These yoga industry statistics make for interesting reading. While the market is growing globally, it’s shrinking in Western countries where it had previously boomed, like the US, UK, and Australia. This mean the growth is being driven by other markets like Asia Pacific.

This may be surprising to some as it can seem like yoga is a wellness growth industry as it’s everywhere these days. But we’d argue that the previous growth was actually being driven by other trends – the rise of boutique fitness studios, athleisure, home workouts, and meditation are just a few.

According to Google trends, US interest in yoga has actually decreased over the last five years. However, global interest remains consistent, with annual peaks in January and June (around International Yoga Day).

One thing remains true no matter which month of the year it is – yogis spend a lot of money on their hobby. According to research by the Yoga Alliance, a typical yogi will spend $62,640 on classes, workshops, and accessories over their lifetime. This equates to about $90 per month, almost half of which is just on classes. There’s clearly a huge opportunity to serve this dedicated audience and generate a strong income in the process.

So, there you have our roundup of the latest yoga trends, market situation, and industry predictions. While there are many factors that influence this sector, the future of yoga looks positive with the biggest growth likely to be in Asia Pacific and online classes.

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Bonus Yoga Statistics & Research Findings

Here are a few extra yoga statistics that provide insights into its popularity, health benefits, and more…

• Popularity – around 300 million people globally practice yoga on a regular basis. (Unwind Yoga Studio)
• Industry Perception – According to a 2024 survey of fitness professionals, yoga is the 15th most popular fitness trend. (ACSM)
• Physical Benefits – Research shows that yoga improves flexibility, helps to build muscle mass, and maintain strength. (NIH)
• Drivers – Mental health issues such as depression, anxiety, stress, and insomnia are the most common reasons why people take up yoga. (NIH)
• Stress reduction – A review of 12 scientific studies involving 672 participants found that yoga reduced feelings of stress. (NIH)
• Mental health. – A review of 14 studies involving 1084 participants found that yoga positively affected mental health, especially improvements in resilience and general mental well-being. (NIH)
• Weight management – Research found that people who practiced yoga once a week gained less weight during middle adulthood and people who were overweight actually lost weight. (Harvard)

You might also like… Top Personal Training Trends For This Year or a Day In The Life of a Pilates Instructor.

Buy Our Complete 2024 Fitness Market Report

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• Health and fitness industry revenue & growth by market segment
• Gym market size, growth & membership statistics
• Online & virtual fitness market developments
• Financial information for the largest club operators globally
• Biggest & fastest growing fitness franchises
• Insights into the boutique fitness studio & personal training segments
• Latest industry trends & how to capitalise on them
• Growth markets, segments & audiences including Millennials
• Data on fitness tracker, app & equipment segments
• Outlook & evidence-based predictions for the future of the industry
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Note: Data is correct at the time of publishing, but it’s important to do your own local research when making business decisions.