Dublin, June 14, 2023 (GLOBE NEWSWIRE) -- The "Resistance Bands Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Type and Distribution Channel" report has been added to ResearchAndMarkets.com's offering.
The resistance bands market share is projected to grow from US$ 677.26 million in 2022 to US$ 881.28 million by 2028; it is expected to grow at a CAGR of 4.5% from 2022 to 2028.
The population across the globe is increasingly engaged in rigorous exercises that aid in weight control and increase strength and stamina, consequently improving the body's overall health. The adoption of physical activities and regular exercise has increased to improve flexibility, mobility, and agility of the body.
The preventive healthcare sector, coupled with an increased preference for customized workout regimes with comfortable home environments, has surged the demand for home fitness activities. Resistance bands are gaining popularity as at-home fitness equipment due to their benefits in strength training and maintaining balance while exercising.
Further, the rise in initiatives by various organizations to increase physical activity is surging the demand for resistance bands. Moreover, consumers are shifting to cost-effective and sustainable workout products such as resistance bands, thereby surging the demand for resistance bands. Thus, the increasing consumer inclination toward home fitness and workout activities boosts the demand for resistance bands and further expected to drive the market growth.
In 2021, North America held the largest revenue share of the global resistance bands market owing to the organized retail sector in the region and the increasing demand for strength training equipment among the population. In North America, the popularity of resistance bands is increasing due to their lightweight, portability, and versatility, as well as cost-effectiveness in gyms and home setups.
Over the past few years, governments of several countries and various associations across the region have been taking initiatives and recommending guidelines regarding exercises to maintain good health. According to the World Health Organization (WHO), on October 5, 2022, insufficiently physically active people across North America had a 20-30% increased mortality risk compared to sufficiently physically active people.
Hence, the WHO has established partnerships to support Member States in promoting physical activities. It has resulted in increased adoption of physical activities among the population, which tends to increase the demand for physical training tools.
For instance, the EU partnered with the United Nations Educational, Scientific and Cultural Organization (UNESCO) in 2017 to advance and align the implementation of GAPPA and the Kazan Action Plan on physical education, sports, and physical activity. Eventually, this resulted in increased adoption of physical activities, which tends to increase the purchase of physical training tools. These aforementioned factors are expected to propel the resistance bands market in the coming years.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 140 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $677.26 Million |
| Forecasted Market Value (USD) by 2028 | $881.28 Million |
| Compound Annual Growth Rate | 4.5% |
| Regions Covered | Global |
Market Dynamics
Drivers
- Increasing Consumer Inclination Toward Home Fitness and Workout Activities
- Rising Popularity of Strength Training
Restraints
- High Popularity of Substitute Products
Opportunities
- Growth of E-commerce Platform
Future Trends
- Increasing Influence of Social Media on Fitness Activities
Companies Mentioned
- Performance Health Holding, Inc.
- Decathlon S.A.
- Perform Better
- Fitness Anywhere LLC.
- Optibelt GmbH
- Crown World Marketing Ltd.
- Serous Steel, LLC.
- Starwood Sports Ltd.
- Flexible Sports GmbH
- Meglio Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/cldm4n
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