Resistance Bands Market will generate new growth opportunities by 2028

 

Market Scope

Market Research Future (MRFR) affirms that the resistance bands market could touch an approximate valuation of USD 1.74 billion by the year 2027. It is also likely that the global market size can expand at a rate of 12.25% from 2020 to 2027.

Growth Boosters and Impediments

Expanding fitness industry along with the rising preference for cost-effective and compact products to be used at home should work in favor of the global market. Growth in regular exercise and physical activities to improve mobility, agility and flexibility of the body is also touted to boost the sales of resistance bands. Resistance bands are primarily used for performing various exercises for feet, shoulders, elbows, and knees, and are capable of fostering the core body strength. Therefore, in the event of any injuries or general fitness, consumers are increasingly adopting resistance bands and integrating them in their daily routines.

Emergence of smart resistance bands featuring Bluetooth transmitters and motion sensors has been a major technological disruption. These bands target shoulders, arms, back and legs, and provide multiple movements that facilitate effective full-body workout. The provision of several functionalities requiring no supervision and the availability at reasonable prices should also bolster the market share in the following years.

Market Segmentation

To offer a comprehensive outline of the Resistance Bands Market industry, the MRFR report has considered certain key segments, including product type, category, and distribution channels.

Depending on product type, the global market has been considered for tube bands, pull-up bands, therapy bands, fit loop bands, and more. Therapy bands form the largest share in the market and can expect to attain a decent growth rate over the coming years. Therapy bands facilitate improvement in joint mobility and flexibility. These help in the recovery process from shoulder, knee, and hip injuries. Recovery from other physical injuries such as post anterior cruciate ligament (ACL) repair, tennis elbow, shoulder dislocation, hip bursitis, runner's knee and strains and sprains is also enhanced by therapy bands. Apart from this, these bands are used to rehabilitate cardiac patients.

Categories listed in the report are light along with medium and heavy. Medium category is the leading segment, because of its multiple versatile use-cases. Consumers focused on maintaining their health opting for moderate exercise regimes opt for these bands. These are not used by professional bodybuilders.

 

Distribution channels selling resistance bands include store based as well as non-store based. Maximum sales of resistance bands take place via store-based channels as stores provide the option of feeling and touching the product along with demonstration. Some of the major store-based channels are specialty stores, supermarkets & hypermarkets, and others. The lead has been taken by supermarkets & hypermarkets in the market.

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Regional Status 

The resistance bands market is primarily spread across a few major regions, namely Asia Pacific/APAC and MEA or Middle East & Africa coupled with the North America as well as Europe.

North America is the highest gainer in the global market for sustainable resistance bands, backed by the escalating cases of weight-related issues and obesity that impact people’s lifestyle. Rising focus on physical fitness as well as weight training has been favorable as well. The recent COVID-19 pandemic has encouraged people to go for virtual workout classes for personal training. This scenario has led to skyrocketing sales of resistance bands in the region. Emerging trend of using compact and portable exercise equipment with several functions and the alarming rise in the burden of chronic disorders like cardiac disease has also facilitated market growth in North America. The Centers for Disease Control and Prevention says that in the year 2015, around 610,000 lives were claimed by heart diseases. This mounting number is giving way to physical and rehabilitation therapies, which require extensive use of different types of resistance bands.

Asia Pacific is one of the fastest progressing market for resistance bands, with the exploding population in India and China presenting significant opportunities to the vendors. Mounting number of sports activities and the general focus on staying fit has been driving the market growth rate in the region. Significance of fitness management programs, socially among millennials in line with growing health awareness due to social media will also boost the market’s growth scope. Government bodies in several countries are promoting fitness and sports activities, which should also bolster the sales of resistance bands in the region. Cheaper production costs in the region creates striking business opportunities for the new players. Surge in new product launches with enhanced features and different applications also benefit the APAC market.

Renowned Players

Fitness Anywhere LLC (US), Black Mountain Products, Inc. (US), Zaj Fit (US), Xtremebands (Canada), Performance Health Holding, Inc. (US), Decathlon S.A. (France), ProsourceFit (US), Wacces, Inc. (US), Bodylastics USA Inc. (US), The Peach Builder Co. (New Zealand) are some of the leading firms in the resistance bands industry.

NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.

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