New York, US, Aug. 17, 2021 (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 2026”, the market is projected to cross USD 1.74 Billion by 2026 at 12.25% CAGR.
Market Scope
Resistance bands are elastic bands that were first used in rehabilitation exercises for patients who had sustained an injury. Consumers, on the other hand, have used these bands in conjunction with their usual routines. Resistance bands are available in a variety of colors, widths, lengths, and strengths. Resistance bands come in a variety of shapes, including straight, flat, and tubular, and are used for a variety of activities. Resistance bands are more portable than free weights, are easier to take on the move, and are less expensive.
Market Drivers
As the need for resistance bands grows, market participants are spending in research and development to offer new technologies and improve the band material. Consumers are responding positively to new and inventive products, which is propelling global market growth. Market expansion is expected to be fueled by rising demand for low-cost workout devices that can be used at home. Various health groups are taking steps to reduce the global trend of increasing physical inactivity. Over the projection period, the market will be driven by the introduction of smart resistance bands with motion sensors and Bluetooth transmitters.
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Resistance Bands Market Competitive Landscape
The notable players of the market are:
Performance Health Holding, Inc. (US)
Wacces, Inc. (US)
Black Mountain Products, Inc. (US)
ProsourceFit (US)
Zaj Fit (US)
Xtremebands (Canada)
Bodylastics USA Inc. (US)
Fitness Anywhere LLC (US)
Decathlon S.A. (France)
The Peach Builder Co. (New Zealand)
COVID-19 Analysis
COVID-19 has had a direct impact on the distribution and sales of various items across industries. Many countries are on lockdown and have closed their borders to prevent the virus from spreading. COVID-19's influence on logistics has interrupted the supply of raw materials, resulting in reduced manufacturing capacity and, as a result, product shortages. In the short term, these variables are projected to produce a spike in the price of resistance bands. Furthermore, because of the COVID-19 outbreak, gymnasiums and workout centers are deemed gathering places and have been closed in some nations. As a result, the demand for resistance bands has risen dramatically, as people have begun to exercise at home.
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Market Restraints
However, the risk of injury from bands snapping could stifle market expansion during the foreseeable period.
Segmentation
The treatment bands category held the biggest market share by type in 2019 and is expected to increase moderately over the forecast period. Therapy bands can aid with joint mobility and flexibility. They are both safe and effective at helping people heal from hip, shoulder, and knee problems. During the forecast period, these factors are expected to fuel market expansion.
Because of its versatility, the medium segment accounted for the most market share by category in 2019. Because medium strength bands are not ideal for professional bodybuilders, they are preferred by consumers who want to maintain their health with modest training programs at home. Furthermore, according to MRFR data, the majority of customers worldwide in 2019 were moderately constructed. The segment's rise is being fueled by these people's growing preference for medium-strength bands.
The majority of resistance bands are sold through brick-and-mortar stores because brick-and-mortar stores provide the opportunity to touch and feel the product before seeing it in action. During the forecast period, the non-store-based segment is expected to grow at a significant rate. Resistance band manufacturers are leaning toward non-store-based distribution methods to boost product sales.
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Regional Insights
In 2019, the global resistance band market was dominated by North America. The increased occurrence of obesity and weight-related disorders has had an impact on Americans' lifestyles. Resistance bands are in high demand in the region due to the growing relevance of physical fitness and weight training. Resistance bands are predicted to be a lucrative business in the United States. Consumer preferences are shifting toward a healthier lifestyle, which is propelling regional prosperity.
For the resistance band market, Asia-Pacific is a new revenue source. China's and India's rising populations have created a lucrative market for existing businesses. The rising demand for athletic activities has resulted in a need to stay fit, which is propelling the market in the region forward.
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Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
