iResearch estimates that in 2018, the revenue of yoga market will reach 32.2 billion Yuan in China, and the growth mainly resulted from yoga-related vertical products, such as yoga clothes, yoga matt, and other supportive equipment. During 2015-2017, the high growth rate of yoga market mainly came from payment of pan client group and core clients, as well as the course revenue in offline yoga studios. However, the growth led by the core client groups has slowed down in 2018. What’s more, the yoga spending of per customer increase potential is limited due to the fierce price competition among offline yoga studios. Thus, iResearch believes that the future growth of China’s yoga market will mainly come from pan client groups and the growth speed will be relatively slow. As the focus of competition shifts from price to courses and services, more pan clients will become core clients and the whole market may embrace a new booming period.
The industry chain of yoga market centers on yoga courses (mainly in offline yoga studios) and springs up different branches like yoga coach training, yoga popularization, yoga supportive equipment and commercial trainings. Yoga clothes and supportive equipment market started early, while it is still under-developed. The concentration rate of this market segment is still low, and there are no giant brands in this market.
In contrast, online yoga app market has a high concentration rate. Daily Yoga, the earliest yoga app in China, has the highest user share in the market. Commercial training companies was mostly established in 2012-2015, and usually concentrate on the daily demand for yoga lovers (for instance social networking and cheap courses), business operation knowledge demand for small yoga studios and membership management and marketing demands for large and medium-sized yoga studios. The development of yoga commercial training companies is slightly delayed compared with the general development of yoga industry, and the entry cost for commercial training companies will be larger as the yoga getting increasingly popular among the public.
Yoga coaches are one special link on the industry chain, because they are both important consumers and service providers in yoga industry, and they have great potential to start yoga studios on their own. Thus, the companies offering professional services for yoga coaches are emerging and the number of the companies rises rapidly.
Currently, Internet has become an important channel for information gathering and experience sharing among people. New life style enhanced the popularity of yoga apps. At the same time traditional marketing method was changed, and new media and we-media have become the main marketing channel nowadays. Online courses and online brand promotion of yoga studios aroused huge interest among related companies as well. For instance, Pure has started to offer online yoga courses. Meanwhile, large and medium-sized yoga studios are now faced with dilemma in striking a balance between guaranteeing user experience and achieving studio expansion. Online membership management allows members choose courses online to avoid overload of courses, and online membership management allows companies to manage records and information of their members more conveniently, which helps them to offer targeted services based on the client features.