Dumbbell Market shall reach a value of $297.7 Million in 2027, growing with a CAGR of 3% during the forecast period of 2020 to 2027.
The Dumbbell market has been gaining a lot of momentum in recent years. Increase in purchasing power and a better standard of living are key enablers of market growth. But the rise in obesity rates pre-dominantly in urban areas has necessitated in greater health and fitness awareness amongst people. When it comes to fitness equipments, dumbbells have seen significant adoption by consumers at gyms as well as at homes. Furthermore, not just burdened by necessity but general fitness enthusiasts are also on the rise. Widespread awareness of fitness amongst people has lead to an upward trend in usage of dumbbells as go-to equipment. This is because dumbbell based exercises can help in muscular coordination in addition to general muscle growth. Most importantly, dumbbells can be used for a variety of exercises and are compact plus easy to carry. This led to them being the most sought after fitness equipment when consumers were forced to stay home as a result of the outbreak of COVID-19. The pandemic has triggered the increase in demand for dumbbells. Given that the affected cases are seeing a surge and consumers are getting used to the ease of home workouts the trend is likely to continue upwards for the upcoming years.
Growth and Trends
The dumbbell market is a fragmented one, the degree of which will accelerate across the globe in the coming years. Exercise to prevent cardio-respiratory illnesses, joint-isolation exercises, and full body multiplanar movements, that is, a variety of different strength outcomes directly derived from the use of dumbbells during physical workouts generate growing demand among consumers who are conscious about overall fitness of the body. The sedentary lifestyle in the current work scenario has made it extremely significant for people to exercise regularly, where dumbbell exercises form an important part of any strength training regime. The most important benefit of dumbbell exercises is that along with strengthening the main muscle, it gets input from other vital stabilizing muscles at the same time. These are major factors triggering demand for dumbbells for usage at home as well, and not only fitness centres or health clubs, thus fostering dynamic and sustained growth of the dumbbell market. Balance and better grip exercises with classic dumbbell presses helps the body in strengthening it balancing movements which is found to be affected as one ages. Therefore, owning dumbbells is a convenient option to ensure that degenerative tendencies of the body are restricted, thus ensuring high levels of demand.
Since the Covid-19 virus outbreak, and the disease having spread to almost every country around the globe, thus public health emergency being declared by the World Health Organization, the global impacts of the coronavirus disease are starting to be significantly felt in the significantly affect the Dumbbell market. The outbreak of COVID-19 has brought effects on many aspects, like flight cancellations; travel bans and quarantines; restaurants closed; all indoor and outdoor events restricted; over forty countries state of emergency declared; massive slowing of the supply chain; stock market volatility; falling business confidence, growing panic among the population, and uncertainty about future.
Improvement of online fitness content like steaming guided training videos based hugely on the use of dumbbells is a key driving factor for the market growth.
However, health mixes and beverages pose as a substitute to dumbbells for muscle gain and weight loss, which could possibly restrict the demand. But the immediately visible muscle growth by training though dumbbells can counteract such restrictions.
Decathlon, a hugely successful French sporting goods retailer, said that it has recorded over 141% rise in demand for dumbbell sets as well as singular dumbbells, most of it being end consumer based because dumbbells are a safer fitness equipment option. Furthermore, because of their size, logistics and distribution via e-commerce operators help to boost supply.
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