The number of Americans participating in yoga is about on par with the nation’s golfer population. The time has come to tap into this expanding industry.
It’s not a stretch to say that the yoga industry is booming.
Celebrity practitioners, greater health consciousness among Americans and the trendy, flattering fashions associated with yoga have sent participation rates soaring.
A survey from the Sports & Fitness Industry Association found that more than 24 million U.S. adults practiced yoga in 2013, a 41% increase from 2008. Similarly, the National Center for Health Statistics reveals that nearly 10% of American adults took part in yoga in 2012, up from 5% a decade earlier.
As the practice proliferates, so does industry revenue. IBISWorld, a market research firm, says yoga/Pilates studios experienced 7.5% annual revenue growth between 2010 and 2015. In fact, American yogis spend $2.5 billion per year on instruction alone, helping to propel an estimated $27 billion industry.
To capitalize on the bull market, yoga studios are increasingly offering more than instruction. “Many studios,” IBISWorld reports, “have expanded their product portfolio of ancillary items, (such as) merchandise and supplements, which has bolstered industry revenue.”
Studios’ move into merchandise presents distributors with sales opportunities. Help these businesses build their brands, attract clients and generate revenue with sales of products that appeal to yogis. Think items like yoga pants, exercise mats, towels, performance tank tops, moisture-wicking/antibacterial light jackets, sports duffels, headbands, spa-related items, natural hand sanitizer and fruit-infuser water bottles.
With the more than 30,000 yoga studios in America, there is a good chance you’ll find a business in your area, especially if you’re in yoga hotbeds like San Francisco, Seattle, Philadelphia, New York and Washington D.C. Studios tend to be independently owned, putting you in position to connect directly with decision-makers.
Of course, the yoga market is about more than studios. Gyms, lifestyle brands that make yoga-related clothing and products, industry trade shows/conferences, nonprofits like the Yoga Alliance and media sources like the Yoga Journal (with its 3.5 million monthly print and online readers) are potential clients, too. Namaste!
Know The End-User
More than 80% of American yogis are women. Increasingly, yoga studios and lifestyle brands will market yoga’s health benefits to attract both the ballooning population of aging baby boomers and young millennials with their interest in living mindfully.
Yoga originated in ancient India. It’s a system of physical, mental and breathing exercises that eliminate stress, producing a peaceful mind and strong body. There are more than 100 different schools of yoga. In America, Vinyasa is the most popular. Bikram and Ashtanga are widely practiced, too.