Pilates & Yoga Studios Market Trends

Growth Drivers

• Increasing cases of obesity: The rate of obesity is skyrocketing and people are opting for yoga and pilates because of potential benefits. According to the World Health Organization in 2022, 1 in 8 people in the world were living with obesity. Yoga and Pilates can significantly contribute to weight loss by building muscle and enhancing body composition. People are willing to take time out from their hectic schedules to take care of their health and this awareness amongst the people is paving the way for the pilates and yoga studios market to expand.
   
• Technological advancements in yoga and pilates studios: Prominent companies such as Fitbit, Garmin, Apple Watch, and Whoop have introduced impeccable fitness trackers and smartwatches. Additionally, smart wearables enhance yoga practice by giving real-time posture feedback and guiding users through poses. Ultimately, these smart wearables make yoga more effective and accessible for individuals of all ages. In June 2023, the National Institute of Health stated that 1 in 3 Americans uses wearable devices. Other than this, various ultra-modern yoga studios including smart yoga mats useful in guided body weight exercises, activity tracking, and gamification. There has been a surge in demand for such technically equipped studious, majorly across the urban areas.
   
• Rising awareness about mental health: United Nations News published a report in June 2022 that nearly 1 billion people globally, suffer from some form of mental disorder. The burgeoning number of patients suffering from mental health problems is instilling the need for adopting a healthy lifestyle. Pilates exercise could lessen the levels of anxiety and depression symptoms. Also, the National Institutes of Health stated that yoga offers an efficacious method of managing stress, depression, and anxiety. These factors are propelling the pilates and yoga studios market growth during the assessed time.

Challenges

• Rising popularity of other forms of exercise: The popularity of other fitness platforms, such as Zumba, gyms, martial arts, and kickboxing is growing. Also, gyms' alluring deals and discount packages are predicted to impede the market's expansion.
• Associated risks: It has been estimated that yoga poses some potential disadvantages including musculoskeletal injuries, abnormal blood pressure, and complications with glaucoma. Also, forceful breathing causes fatigue and muscle strain in the person’s body.