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.
Decreasing rate of physical activity among people across the globe is enforcing governments and health organizations to take initiatives that promote sports activities and fitness. Moreover, consumers prefer technologically advanced products that have Bluetooth transmitters and motion sensors. This is influencing manufacturers to focus on product innovations and new product launches. For example, a latex free resistance band with a brand name ‘TheraBand’ was launched by Performance Health, LLC in 2015.
The segment of exercise bands dominated the market in 2018 owing to its multi-functional properties that target arms, lower body, and upper body. Moreover, exercise bands are preferred for weight management by reducing muscular imbalance. The health and sports club application segment held the largest market share in 2018 owing to increasing number of working-class population and growing awareness regarding fitness and health issues among consumers across the globe. Therefore, people are joining gyms, health clubs, and sports clubs to maintain a fitness regime. This factor is expected to drive the segment growth over the forecast period.
North America dominated the resistance bands market in 2018 owing to rising awareness regarding benefits of exercising and shifting trend towards healthy and fit lifestyle among the people in this region. Moreover, increasing number of people with cardiac disorder is also influencing people to use resistance bands.
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Further key findings from the report suggest:
• Asia Pacific is projected to grow at the fastest CAGR of 13.0% over the forecast period. This growth is attributed to increasing number of working population and growing inclination towards healthy lifestyle
• In 2018, the segment of exercise bands accounted for the largest market share of around 50% across the global resistance bands market.
• The segment of online distribution channel is projected to expand at the fastest CAGR of 12.8% over the forecast period due to improved accessibility, hassle free return policy, easy payment option, and convenience.
• Leading players in this industry are Wacces; Performance Health, LLC (TheraBand); Black Mountain Products Inc.; ZAJ FIT; Prosource; Fitness Anywhere LLC; Bodylastics International Inc.; and Xtreme Bands.
Million Insights has segmented the global resistance bands market based on product, application, distribution channel, and region:
Resistance Bands Product Outlook (Revenue, USD Million, 2015 - 2025)
• Pull up
Resistance Bands Application Outlook (Revenue, USD Million, 2015 - 2025)
• Health & Sports Clubs
Resistance Bands Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)
Resistance Bands Regional Outlook (Revenue, USD Million, 2015 - 2025)
• North America
• Asia Pacific
• Central & South America
• Middle East & Africa