International Yoga Day 2021: If we look at yoga as an industry, it is currently worth $ 88 billion globally. It is believed that by 2025 it will be worth $ 215 billion.
The US market is worth $12 billion.
International Yoga Day 2021: Today is International Yoga Day and it is celebrated like a festival all over the world. In 2014, for the first time as Prime Minister, Narendra Modi in his address to the United National General Assembly (UNGA) said that June 21 (the biggest day) should be celebrated as International Yoga Day and it started from 2015. This journey has improved significantly in the last six years and has grown into an industry.
If we look at Yoga as an industry, it is currently worth $ 88 billion (about 65 lakh crore rupees) globally. It is believed that by 2025 it will be worth $ 215 billion. During this period, the compound annual growth rate ie CAGR has been estimated to be 11.7 percent. The size of $88 billion is just the size of the Yoga studio market. If yoga mats, blocks, accessories, clothing are added to this, then this size becomes about 130 billion dollars.
Fast growth happening all over the world
Talking about the yoga market, the US market is worth $ 12 billion. It is growing at an annual rate of 9.8 percent. The UK market is worth £908 million, growing at a rate of 2 per cent. China’s yoga related revenue was $3.6 billion in 2017, which was projected to reach $6.6 billion in 2020. Australia’s total market is $621 million, which is growing at a rate of 2.2 percent.
Demand decreased in Corona
The Yoga industry has changed very rapidly during the Corona period. In the lockdown, the interest of people towards yoga has increased a lot. However, the Yoga studio business has suffered a lot. After the first wave, people are scared of the second wave. In such a situation, the morale of those who do yoga by going to the studio has decreased. Apart from this, due to the change in the economic situation, people have not continued the membership. When people are not going to the studio, then the demand for yoga-specific clothes, shoes, mats etc. has also decreased accordingly.
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