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Exercise Resistance Bands Market By Product (Tube Resistance Bands, Strip Resistance Bands, Rope Resistance Bands, Others), By Applications (Individual Users, Gyms and Health Clubs, Others), By Distribution Channel (Online, Offline) - Growth, Share, Opportunities & Competitive Analysis, 2018 – 2026

Key Market Insights

Emerging trends for smart exercise equipment are driving the exercise resistance bands market globally. The global exercise resistance bands market is, expected to grow at a CAGR of 11.5% during the estimated period from 2019 to 2027, starting from US$ 290.6 Mn in 2018. The inclination of customers towards smart exercise equipment is one of the key factors for the growth of the market. Manufacturers are focusing on the incorporation of IoT in conventional exercise resistance bands. The incorporation of IoT aims to enhance the performance and connectivity of conventional resistance bands by equipping them with motion sensors and Bluetooth transmitters. Moreover, initiatives by various health organizations to reduce rising physical inactivity among people across the world. For instance, The World Health Organization introduced a program, The Global Action Plan on Physical Activity was launched to reduce physical inactivity by 10% by 2025 to 15% by 2030. The aforementioned factors are going to propel the growth of the market. 

The cost-effectiveness associated with exercise resistance bands is a key factor supporting the growth of the market.

Resistance bands are inexpensive in nature, thereby customers tend to purchase them more in comparison with bulky gym equipment. Resistance bands are available at multiple resistance levels, such as high, medium, and heavy. Moreover, the portability accomplices with resistance bands are another factor driving the market growth. Additionally, the increasing trend for home fitness globally is also considered for the growth of the exercise resistance bands market. 

Expanding Health Awareness globally adds to market growth.

Consumers nowadays are becoming more health-conscious due to increasing obesity among the population. For instance, according to the report “the State of Obesity” by Trust for America’s Health, around 100 million people in America suffer from obesity. The report also suggests, in 2015-2016, 93.3 million adults and 13.7 million children in the U.S. had obesity. The aforesaid reason is one of the key factors supporting the growth of the market. 

Market Synopsis

Application Analysis

Convince of using resistance bands is a major factor supporting market growth.

The application segment is further classified into individual users, gyms, and health clubs. The individual user segment held the major share of the exercise resistance bands market in 2018. The dominance is supported by reasons such as exercise resistance bands are easy to carry. Consumers prefer exercise resistance bands due to their portability. Consumers can travel with resistance bands and can use them whenever they want.

Individual consumers are more inclined towards using exercise resistance bands as they require very less or no space for storing or keeping them. In Addition, the low price associated with exercise resistance bands is a major factor in the dominance of the individual segment. 

Multiple fitness usage of exercise resistance bands will drive the market among individuals.

The main benefit of using exercise resistance bands is a single band can be used for various exercises. Consumers can use the same band for upper as well as lower body workouts. Moreover, exercise resistance bands can be used for treating injuries and chronic diseases, which is the key factor for the growth of the market.

Regional Analysis 

Trends for Home-Fitness drives the growth of the market.

In 2018, North America dominated the exercise resistance bands market, increasing awareness of the people towards living a healthy and fit lifestyle is increasing the growth for the exercise resistance bands market. Additionally, the trend for smart fitness equipment is increasing the demand for smart exercise resistance bands in North America as people in North America are early adopters of new and improved technology. 

According to a research study, flourishing trends for home-fitness classes are also booming the demand for the exercise resistance bands market. The studies also suggest that men in North America are more inclined towards working out at home thereby, likely to purchase at-home fitness equipment. Moreover, increasing demand from women, including young mothers, who prefer convenient living room workouts is also a major factor for the dominance of exercise resistance bands in the North American region. 

List of Companies Covered:

  • Wacces Store.
  • TheraBand
  • Reehut
  • Xtremebands
  • Bodylastics USA Inc.
  • Fitness Anywhere LLC
  • Reebok
  • 4D Rubber Company       
  • Rogue Fitness
  • Black Mountain Products, Inc.
  • Perform Better
  • SPRI
  • RIMSports
  • WODFitter 

Key Industry Developments:

  • In October 2017, Xiaomi launched a smart elastic band. Xiaomi’s “Move it” band is available in various lengths, sizes, and strengths. The Move bands can be used as different fitness tools, such as abdominal wheels, push-up rope-weights, and others. The Move, its bands, contains three sensors, each of which detects different things such as posture and elastic tension. 
  • In October 2016, Les Mills launched a new Smartband. The Smartband includes nylon webbing that moves smoothly through the spine and eliminates rolling and anchoring issues.

Historical & Forecast Period 

This study report represents an analysis of each segment from 2017 to 2027, considering 2018 to be the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period from 2019 to 2027. 

Market Segmentation

ATTRIBUTE DETAILS

Research Period : 2017-2027

The base Year: 2018

Forecast Period : 2019-2027

Historical Year: 2017

Unit USD Million

Segmentation Product Type (2017–2027; US$ Mn)

  • Tube Resistance Bands
  • Strip Resistance Bands
  • Rope Resistance Bands
  • Others (Loop Resistance bands, etc.)

 Applications (2017–2027; US$ Mn)

  • Individual Users
  • Gyms and Health Clubs
  • Others

 Distribution Channel (2017–2027; US$ Mn)

  • Online
  • Offline
  • Supermarkets and Hypermarkets
  • Brand Outlets
  • Other Retail Stores

 Geography Segment (2017–2027; US$ Mn)

  • North America (U.S. and Canada)
  • Europe (U.K., Germany, Spain, Italy, and the Rest of Europe)
  • Asia Pacific (Japan, China, India, and the Rest of Asia Pacific)
  • Rest of World (Middle East & Africa (MEA), Latin America)

The current report also comprehends qualitative and qualitative market valuation factors such as key market drivers, market trends, restraints, and opportunities that give a better market understanding of the overall exercise resistance bands market. Additionally, the global report also comprises a graphical representation of the competitive landscape based on their market initiatives and strategies, product portfolio, and business strengths. 

Key questions answered in this report. 

  • What are the current market trends and dynamics in the exercise resistance bands market and valuable opportunities for emerging players?
  • Which segment accounts for the fastest CAGR during the forecast period?
  • Which product type segment holds a larger market share and why?
  • Are low and middle-income economies investing in the exercise resistance bands market?
  • What is the market trend and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?

Frequently Asked Questions:

The market for Exercise Resistance Bands Market is expected to reach US$ US$ 290.6 Mn By 2026.

The Exercise Resistance Bands Market is expected to see significant CAGR growth over the coming years, at 11.5%.

The report is forecasted from 2018-2026.

The base year of this report is 2017.

Wacces Store., TheraBand, Fitness Anywhere LLC, Bodylastics USA Inc., Black Mountain Products, Inc., 4D Rubber Company are some of the major players in the global market.

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Trusted By
Godaddy
Published Date:  Jan 2020
Category:  Consumer Goods
Report ID:   60151
Report Format:   PDF
Pages:   120
Rating:    4.4 (56)
Delivery Time: 24 Hours to 48 Hours   
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