Description
The global exercise bands market size is estimated to grow at a CAGR of 19.5% to reach USD 2,641.9 million in 2027 from USD 759.2 million in 2020. The gym and fitness industry is gaining traction across the globe, backed by increasing awareness about health regimes and benefits. Furthermore, the use of exercise bands for physical therapy to strengthen cardiac rehabilitation patients and treat muscular injuries is one of the recent trends in the global market. Thus, the above-mentioned factor will augment the global exercise bands market growth over the forecast period.
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Factors Affecting the Exercise Bands Market Over the Forecast Period:
Changing consumer preferences for a healthier and smart lifestyle is one of the key drivers for the growth of the exercise bands market. In addition, the growing demand for affordable and cost-effective bands for the gym and home workout is expected to boost the global exercise band market.
Furthermore, the introduction of smart exercise bands fitted with motion sensors and Bluetooth transmitters is expected to gain momentum in the global exercise bands market with more opportunities. However, the vulnerability of security and privacy is a key challenge in the global exercise bands market. Also, the short battery life of consumer electronics often hinders the growth of the exercise bands market.
Impact of COVID-19 on Exercise Bands Market:
The COVID-19 pandemic is expected to have a major effect on market growth in 2020. The role of exercise bands in the healthcare sector has been extended by the emergence of COVID-19 pandemic. Due to the unparalleled supply chain disruption caused by the COVID-19 outbreak globally, the FMCG industry is predicted to see checkered growth in 2020. Given the increasing prominence of online/e-commerce purchases, the exercise bands market is expected to rebound over the forecast period. Many countries have a significant presence of suppliers of the raw materials used in the manufacturing of exercise bands, which have been disrupted the production and development schedules due to pandemics.
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Scope of the Report
The report outlines the global exercise bands market study based on product type, distribution channel, and application.
Based on the product type, the exercise bands market has been segmented into –
- Therapy Bands
- Pull up Bands
- Exercise Bands
- Strip Exercise Bands
- Tube Exercise Band
Based on the distribution channel, the exercise bands market has been segmented into –
- Offline
- Supermarkets
- Departmental Stores
- Specialty Stores
- Online
- E-commerce Websites
- Company-owned Websites
Based on the application, the exercise bands market has been segmented into –
- Individual
- Health
- Sports Clubs
Exercise Bands Market: Regional Outlook
The global exercise bands market has been segmented into five geographical regions, namely, North America, Asia Pacific, South America, Europe, and the Middle East and Africa (MEA). In 2020, North America is expected to hold the largest share in the global exercise bands market, followed by Europe and the Asia Pacific. The growth in North America is associated with the vast number of fitness program participants throughout the region. Furthermore, over the forecast period, Asia Pacific is projected to have the highest CAGR globally.
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Key Global Exercise Bands Market Competitors Includes –
The global exercise bands market is highly fragmented, with the presence of a large number of small players across the globe. The key players operating in the global resistance bands market include –
- Black Mountain Products Incorporated
- Bodylastics USA Incorporated
- Fit Simplify
- Perform Better Incorporated
- Prosource Fit
- Reehut
- Rogue Fitness
- Sequential brands group Incorporated
- Performance Health LLC (TheraBand)
- Wacces
- Xtreme Bands
- Fitness Anywhere LLC.
The exercise bands market report provides a thorough analysis of macro-economic factors and the market attractiveness of every segment. The report will include an in-depth qualitative and quantitative assessment of the segmental/regional outlook with the presence of the market players in the respective segment and region/country. The information concluded in the report includes the inputs from primary interviews.
Exercise Bands Market Report Covers Comprehensive Analysis On:
- Market Segmentation & Regional Analysis
- Market Size of 10 years
- Pricing Analysis
- Supply & Demand Analysis
- Product Life Cycle Analysis
- Porter’s Five Forces & Value Chain Analysis
- Developed & Emerging Economies Analysis
- PEST Analysis
- Market and Forecast Factor Analysis
- Market Opportunities, Risks, & Trends
- Conclusion & Recommendation
- Regulatory Landscape
- Patent Analysis
- Competition Landscape
- 15+ Company Profiles
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Exercise Bands Market Regional Analysis Includes:
- North America (US, Canada, Mexico)
- South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, the Netherlands, Norway, Sweden, Denmark, Rest of Europe)
- Asia Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, the Philippines, Singapore, Australia & New Zealand, Rest of Asia Pacific)
- The Middle East & Africa (Saudi Arabia, UAE, South Africa, Northern Africa, Rest of MEA
Exercise Bands Market: Target Audience
- Exercise band manufacturers
- Fitness band manufacturers, suppliers, and distributors
- Exercise band sensor and related equipment manufacturers
- Resistance bands distributors, and suppliers
- Online and offline fitness equipment retailers
- Trade publications and magazines
- Government authorities, associations, and organizations
