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Resistance Bands Market Size & Share, 2019-2025 | Industry Report

Resistance Bands Market Analysis Report By Product, By Application, By Distribution Channel And Segment Forecasts From 2019 To 2025

Report ID: MN17619673  |  Published: May 2020  |  No of Pages: 80
Format: Electronic (PDF)  |  Industry: Consumer Goods  |  Publisher: Grand View Research

Industry Insights

The global resistance bands market size was accounted for USD 712.8 million, in 2018. It is estimated to grow at a CAGR of 12.4% during the forecast period, 2019 to 2025. Consumers use these resistance bands for building muscles and they are widely use in rehabilitation centers to restore normal health of patients. Light, medium, heavy, and extra-heavy are four major categories of these bands available in the market. Additionally, they are marked with different color codes and each color signifies a specific tension level. These bands are designed differently because requirement of consumers are different based on their muscle strength and fitness.

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.

U.S. resistance bands market size

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 Insights

In 2018, the segment of exercise bands accounted for the largest share of around 50% and is expected to maintain its leading position from 2019 to 2025. This segment is further categorized into ring, figure 8, tube, and flat loop exercise bands. These bands are preferred by consumers who need to shape their arms, upper body, and lower body. This product is designed with flat surface and tube-shaped surface. Consumers can get a customized products as per their requirements and leading companies are focusing on new product launches to cater to increasing demand. For instance, Performance Health, LLC, introduced a resistance band which is free of latex under a brand name of TheraBand, in 2015.

Application Insights

In 2018, the health & sports clubs application segment accounted for the market share of over 70% across the global market. Resistance bands have wide application in sports clubs, gyms, and health clubs as they help in developing muscular strength and fitness. Innovative techniques of exercising are being prescribed by majority of sports trainers, rehabilitation physicians, sports coaches, physiotherapists, and orthopedists across the globe. This is expected to drive the segment growth over the forecast period. There bands are widely used to cure injuries such as tennis elbow, hip bursitis, shoulder dislocation, runner’s knee, post anterior cruciate ligament repair, and sprains & strains. In addition, they are prominently used to treat cardiac patients. This is expected to boost the product demand across the healthcare sector from 2019 to 2025.

The individual application segment is projected to grow at the fastest CAGR of 12.8% over the forecast period due to ease of accessibility and high affordability of the product. 

Distribution Channel Insights

In 2018, the segment of offline distribution channels accounted for the largest market share and is projected to maintain its leading position from 2019 to 2025. This growth is attributed to presence of dominant offline retailers such as Decathlon S.A. and Wal-Mart Store, Inc. Moreover, they are focusing on business expansion by launching retail outlets in emerging economies such as India, China, Thailand, Vietnam, and Bangladesh.

Global resistance bands market share

The segment of online distribution channels is projected to grow at a CAGR of 12.8% over the forecast period. Rising penetration of e-commerce portals and increasing number of working population is proliferating the product sales through online channels. These channels provide potential growth opportunities to new entrants for promoting their products. Consumers can easily compare multiple products and choose the best among them through online channels. Moreover, online retailers such as Amazon and Alibaba offer variety of products at discounted price. In addition, improved accessibility, remote shopping, and convenience are some of the factors projected to proliferate the segment growth from 2019 to 2025.

Regional Insights

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.

Resistance Bands Market Share Insights

Leading players operating in this industry include Wacces; Performance Health, LLC (TheraBand); Black Mountain Products Inc.; ZAJ FIT; Prosource; Fitness Anywhere LLC; Bodylastics International Inc.; and Xtreme Bands.These companies are focusing on R&D and new product launches. Moreover, there are low to moderate entry barriers for new entrants owing to low cost of production. Adoption of new technology is considered to be the prominent strategy to gain an edge over other competitors.

Report Scope

Attribute

Details

Base year for estimation

2018

Actual estimates/Historical data

2015 - 2017

Forecast period

2019 - 2025

Market representation

Revenue in USD Million & CAGR from 2019 to 2025

Regional scope

North America, Europe, Asia Pacific, Central & South America, Middle East & Africa

Report coverage        

Revenue forecast, company share, competitive landscape, and growth factors and trends

Country Scope

U.S., U.K., Denmark, France, China, India, Brazil

15% free customization scope (equivalent to 5 analyst working days)

If you need specific information, which is not currently within the scope of the report, we will provide it to you as a part of customization


Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, Million Insights has segmented the global resistance bands market report based on product, application, distribution channel, and region:

• Product Outlook (Revenue, USD Million, 2015 - 2025)
    • Therapy
    • Pull up
    • Exercise

• Application Outlook (Revenue, USD Million, 2015 - 2025)
    • Individual
    • Health & Sports Clubs

• Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)
    • Offline
    • Online

• Regional Outlook (Revenue, USD Million, 2015 - 2025)
    • North America
        • U.S.
    • Europe
        • U.K.
        • Denmark
        • France
    • Asia Pacific
        • China
        • India
    • Central & South America
        • Brazil
    • Middle East & Africa (MEA)

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