Market Research Future (MRFR) confirms that the Resistance Bands Market will touch approximately USD 1.74 billion by 2027-end. The market size will be expanding at a rate of 12.25?tween 2020 and 2027 (review period).
Major Drivers and Deterrents
The thriving fitness industry combined with the surging preference for cost-effective and compact products for use at home will favor the global market in the years to come. Surge in regular exercise and various 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.
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Product type, category, and distribution channels are the top segments considered in the MRFR research study to give a detailed framework of the global market for resistance bands.
With respect to 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 studied in the report include 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 are store based coupled with non-store based.
North America is the top gainer in the worldwide industry, backed by the soaring 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.
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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. Mounting prevalence of fitness programs, especially among millennials as health awareness rises backed by social media should enhance the region’s growth scope in the future. 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.
Zaj Fit (US), Xtremebands (Canada), Fitness Anywhere LLC (US), ProsourceFit (US), Wacces, Inc. (US), Bodylastics USA Inc. (US), The Peach Builder Co. (New Zealand), Black Mountain Products, Inc. (US), Decathlon S.A. (France), Performance Health Holding, Inc. (US), are the top developers of resistance bands profiled in the review report.
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