Emerging Industry of Yoga

“Yoga teaches us to cure what need not be endured and endure what cannot be cured”

Yoga was born in India some 26,000 years ago and is one of the most significant ancient cultures of India. The health benefits of yoga, needless to say, are profound. Apart from that, there are other benefits too. The increasing enthusiasm to practice yoga has reformed yoga as an emerging market in the economy. Ranging from yoga mats, yoga pants to yoga props, yoga accessories etc. a numerous of sales have been made and has contributed to the growth of this industry. Other than that, yoga classes and yoga studios are also popular economic activities.

The yoga industry is worth of $80 billion worldwide. Majority of the yoga practitioners in the world are Indians but, U.S. has become the world’s largest yoga market with $27 billions of worth. There are over 20 million Americans who practice yoga. To America, Yoga was first introduced by Swami Vivekananda in the year 1893. According to the recent studies the yoga market in the U.S. is growing around $11 billion a year. There has been an 87% increase in the spending in yoga products. There are many famous yoga studios spread across different states in all over the country.

For example, one of the leading yoga studios is the Iyenger yoga association which has its presence not only in India but in several countries. It has various studios in U.S., UK, and Australia etc. Various online ventures are also coming up like the yogaworks.com etc. Also Yoga services are an emerging option for business.

Though India has given birth to yoga, Yoga Industry sales in India is just around 3-5% of the world. Majorly Indian yoga market is unorganized. Our Prime Minister has succeeded in giving international recognition to yoga in the United Nations. Moreover, the government has also proposed a certain share of expenditure in the promotion of yoga by setting up ashrams in various states. This initiative is expected to pace up the growth of yoga industry in India. The ASSOCHAM’s studies show that Yoga in India is expected to grow by 30-35% in the coming years.

A healthy country has better prospects for growth. Yoga contributes to the development of the human capital. Also studies show yoga is beneficial in reducing stress during economic crises and helps in rebuilding the economy by inducing positivity. Yoga is India’s greatest cultural exports. Indian economy needs a right direction in using yoga as a growth factor. India is the mother of history and culture. Proud to be an Indian!

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