New York, US, March 15, 2023 (GLOBE NEWSWIRE) -- Resistance Bands Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), Resistance Bands Market Information By Product Type, Category, Distribution Channel, And Region - Forecast till 2027"; the market will USD 1.74 billion by 2027 at a 12.25% CAGR.
Market Synopsis
Resistance bands are well-known for being used in patient rehabilitation and physical therapy to build muscle strength. The four major resistance levels for the resistance bands are heavy, light, medium, and extra-heavy. The color codes distinguish various strain degrees, such as yellow, green, and red. An elastic band used only for strength training is called a resistance band. It is projected that rising demand for affordable workout equipment for use at home would drive market expansion. Increasing sports and regular exercise to increase the body's flexibility, movement, and agility is anticipated to drive market expansion. Numerous workouts for the knees, shoulders, feet, and elbows can be done using resistance bands. These elements are projected to drive the market for resistance bands in the upcoming years.
By balancing out the muscles, these bands can increase core body strength. They are also frequently used in physiotherapy, particularly by patients undergoing cardiac rehabilitation and convalescents recovering from muscular injuries. The market for resistance bands is expanding due to consumer preference for at-home workouts and fitness activities. Exercise resistance bands are predicted to be used more frequently as the fitness and exercise sector expands since they offer the support required to build muscle during training exercises. People use workout equipment for medical benefits today since they are more conscious of healthy fitness regimens. The market for exercise resistance bands is projected to rise due to increased usage of resistance bands due to increased exercise activities. Also, the growing acceptance of resistance training is accelerating market expansion. Also, as more women choose strength training over conventional cardio, the popularity of strength training among women is growing.
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Report Scope:
| Report Attribute | Details |
| Market Size in 2027 | USD 1.74 billion |
| CAGR | 12.25% |
| Base Year | 2019 |
| Forecast Period | 2020-2027 |
| Historical Data | 2018 |
| Forecast Units | Value (USD billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Product Type, Category, Distribution Channel, And Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Launch of Innovative Products |
| Growth of the Organized Retail Sector in Developing Countries |
Market Competitive Landscape:
The well-known contenders in the resistance bands market are:
- Performance Health Holding Inc. (US)
- Xtremebands (Canada)
- Bodylastics USA Inc. (US)
- Fitness Anywhere LLC (US)
- Decathlon S.A. (France)
- Wacces, Inc. (US)
- Black Mountain Products, Inc. (US)
- ProsourceFit (US)
- Zaj Fit (US)
- The Peach Builder Co. (New Zealand)
Market U.S.P. Covered:
Market Drivers:
The rising adoption of fitness activities and exercising regularly to increase flexibility and mobility in the body are significant factors anticipated to drive the development of the resistance bands market during the forecast period. The use of affordable and pleasant products in residential areas has expanded as people adopt more physical activities at home. The adaptability and agility of a person's body are all improved by regular exercise. It improves physical fitness and body strength for the individual. Health groups have launched several efforts to promote physical activity among individuals worldwide. The workout resistance band market, anticipated to exhibit positive growth during the forecast period, is significantly impacted by these reasons.
Additionally, it is projected that the growing number of health concerns among the populace due to busy schedules will fuel the market for resistance bands. Also, the working-class and millennial populations' increased use of e-commerce platforms is predicted to temper the market expansion for resistance bands. Over the projection period, the market will be driven by the introduction of smart resistance bands that include Bluetooth transmitters and motion sensors. Resistance bands improve the strength and endurance of the muscles. Customers have access to a large selection of goods and can conveniently purchase some niche goods from distant regions.
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Market Restraints:
However, the market expansion for resistance bands is anticipated to be hampered by their lower durability than free weights over the forecast period. The expansion of health clubs and other fitness-related services will also likely present chances for the market for resistance bands to expand over the next several years. The market for resistance bands may face more challenges shortly due to the availability of fake goods.
COVID 19 Analysis
COVID-19 has directly impacted the sales and distribution of many items across industries. Many nations have put themselves on lockdown to stop the virus from spreading and barricaded their borders. Because of COVID-19's effects on logistics, the flow of raw materials has been disrupted, further leading to decreased manufacturing capacity and, as a result, product shortages. Due to lockdowns, travel bans, and company closures caused by the COVID-19 epidemic, these sectors of the economy and industries suffered.
Diversions immediately impacted the consumer goods industry in the supply chains of essential raw materials and abnormalities in manufacturing processes due to limitations put in place by government authorities, which hindered the manufacturing and consumer demand for goods like resistance bands. These elements are anticipated to increase the costs of resistance bands in the short run. Furthermore, gyms and fitness facilities are seen as gathering places and have been shut down because of the COVID-19 pandemic in several nations. Because more people are exercising at home, there is a significant growth in the demand for resistance bands.
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Market Segmentation
By category, the market includes medium, light, and heavy. By product type, the market includes pull-up bands, tube bands, fit loop bands, and therapy bands. The distribution channel includes store-based, which covers supermarkets & hypermarkets, specialty stores, and non-store-based.
Regional Insights
North America largely dominated the market for resistance bands. The rising obesity rate and weight-related problems have impacted the well-being of Americans. Resistance bands are increasingly in demand as physical fitness, or weight training becomes more important. Due to increased participation in fitness programs, North America controls most of the resistance band market. Also, during the projection period, the market for resistance bands in the region would grow more rapidly as consumer preferences for a healthy lifestyle rise.
Resistance band sales are expected to grow significantly in Asia-Pacific over the coming years as millennials, and younger generations become more aware of the advantages of leading healthy lives. The resistance band market has a new source of revenue in the Asia-Pacific region. The expanding populations in China and India have created a profitable market for the current companies. Due to the increased interest in sporting activities and the resulting demand to stay fit, the market in the area is expanding.
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