The global pilates and yoga studios market is anticipated to witness a noteworthy growth during the forecast period, owing to the various benefits provided by pilates and yoga. The yoga classes sub-segment is expected to be most profitable. The Asia-Pacific region is expected to dominate the market in the analysis period.
New York, USA, Oct. 19, 2021 (GLOBE NEWSWIRE) -- According to the report published by Research Dive, the global pilates and yoga studios market is expected to a revenue of $269,301.8 million by 2028, growing rapidly at a CAGR of 10.0% during the forecast period (2021-2028). The inclusive report provides a brief overview of the current scenario of the market including significant aspects of the market such as growth factors, challenges, restraints and various opportunities during the forecast period. The report also provides all the market figures making it easier and helpful for the new participants to understand the market.
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Dynamics of the Market
Drivers: Numerous people across the globe are inclining towards practice of pilates and yoga, owing to their various benefits. Pilates significantly improve flexibility and posture of the body along with increasing the muscle strength. The further enhance concentration and alertness whilst favoring stress management. On the other hand, yoga exercises substantially boost the functioning of cardiovascular system regulating blood pressure and improving blood circulation. In addition, they enhance the functioning of digestive system and boosts musculoskeletal strength. These factors are expected to drive the growth of the pilates and yoga studios market during the forecast period.
Restraints: Increasing prevalence of alternate fitness platforms such as meditation centers, Zumba, martial arts, gyms, etc. are expected to impede the growth of the market during the forecast period.
Opportunities: Growing popularity of online yoga and pilates sessions among people, especially during lockdowns are expected to create immense opportunities for the growth of the market during the forecast period.
Segments of the Market
The report has divided the market into various segments based on activity type and region.
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Activity Type: Yoga Classes Sub-segment to be Most Profitable
The yoga-classes sub-segment is expected to generate a revenue of $144,293.7 million during the forecast period. Yoga significantly helps in relieving in back pain and can potentially ease arthritis which is common among the geriatric population. Regular practice of yoga further regulates stress levels, improves sleep quality, and promotes sound and healthier heart. These factors are expected to drive the growth of the pilates and yoga studios market sub-segment during the forecast period.
Region: Asia-Pacific Region Expected to Dominate the Market
The Asia-Pacific pilates and yoga studios market is predicted to generate a revenue of $89,790.9 million during the forecast period. Increasing awareness about various therapeutic benefits of yoga among people living this region is expected to bolster the growth of the market during the forecast period. In addition, massive presence of yoga schools and pilates studios in this region are further expected to accelerate the growth of the regional market during the forecast period.
Impact of COVID-19 on the Market
The outbreak of coronavirus has had a devastating impact on the growth of the global pilates and yoga studios market, owing to the prevalence of redundant lockdowns in various countries across the globe. Lockdowns led to the closure of various yoga and pilates studios around the world in order to curb the spread of the virus during the pandemic. More and more people inclined towards home workouts rather than spending on membership fees on pilates and yoga studios. Thus, the pandemic has had a negative impact on the growth of the market.
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Key Players of the Market
The prominent players of the market include
Core Studio Pilates & Yoga, LLC
Authentic Pilates Ltd.
Body & Soul Yoga Club
Fitness Firm Yoga and Pilates Studio
Flex Studios, Inc.
M Pilates+ Yoga, and many more.
These players are working on developing strategies such as product development, merger and acquisition, partnerships and collaborations to sustain the market growth.
For instance, in November 2020, Restored Motion and Pilates, a US-based pilates studio started a new venture called DUO Coffee and Pilates, where customers can choose their favorite coffee along with the workouts be it professional pilates with the help of six incredible reformer machines or classical or contemporary pilates and yoga.
The report also summarizes many important aspects including financial performance of the key players, SWOT analysis, product portfolio, and latest strategic developments.
In Addition, the report having some numorus point about the leading Business Manufactures, Like, SWOT analysis, Product Portfolio, Finanical Status - Inquire to Get access for Detailed Top Companies Development Strategy Report
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