The global Resistance Bands Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.
Market Overview:
The global resistance bands market is anticipated to reach USD 1.62 billion by the end 2025, according to a new report released by Million Insights. The market is anticipated to grow at a CAGR of 12.4% during the forecast period, 2019 to 2025. This growth is attributed to growing inclination towards healthy and fit lifestyle and availability of affordable products. Moreover, manufacturers are focusing on providing customized products to cater to rising consumer demand. Furthermore, these resistance bands are prescribed by majority of doctors, physicians, fitness trainers, and sports coaches to build inner strength and reduce the strain of physical injuries.
Key Players:
- Performance Health, LLC (TheraBand)
- Black Mountain Products Inc.
- ProSource
- Xtreme Bands
- Wacces
- Reehut
- Fitness Anywhere LLC
- Bodylastics International Inc.
- Four D Rubber Company Ltd.
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Growth Drivers:
Rising concerns regarding fitness and health issues is enforcing people to perform physical activities at home. Moreover, availability of affordable as well as durable equipment is expected to drive the demand for resistance bands over the forecast period. Resistance bands are multi-purpose equipment that can be used for performing exercises of knees, shoulder, elbows, and feet. They also help in building inner strength which is expected to propel the market growth over the forecast period.
The rate of physical activity among people across the globe is reducing with time. Therefore, several health organizations are coming with effective action plans to overcome this issue. For example, WHO started ‘Global Action Plan’ which aimed at lowering the rate of physical inactivity by 15% by the end of 2030. These factors are projected to proliferate the market growth over the forecast period.
Incorporation of new technologies such as Bluetooth transmitters and motion sensors in the resistance bands have paved the product demand from 2019 to 2025. These bands help in targeting specific body part such as shoulders, back, arms, and legs. Moreover, these bands can function with zero supervision and are highly affordable. These properties are expected to proliferate the market growth over the forecast period, 2019-25.
Product Outlook:
- Therapy
- Pull up
- Exercise
Application Outlook:
- Individual
- Health & Sports Clubs
Distribution Channel Outlook:
- Offline
- Online
Regional Outlook:
In 2018, North America dominated the global resistance bands market with market share of over 35% and is projected to grow significantly from 2019 to 2025. U.S. is projected to be the prominent market for this product owing to rising number of fitness conscious people in the region. Moreover, rising awareness regarding benefits of exercising and growing inclination towards healthy lifestyle are the factors projected to drive the market growth in this region. In addition, increasing number of cardiac patients in this region is expected to impact positively on the market growth.
Asia Pacific is anticipated to expand at the fastest CAGR of over 13% during the forecast period owing to shifting trend towards healthy lifestyle in developing countries such as India and China. Moreover, governments of these countries are encouraging people to participate in sports and physical activities. This is anticipated to propel the product demand in the regional market.
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