Resistance Bands Market size was estimated at $900.6 Million in 2019 and is expected to reach $2,041.2 Million by 2027, growing at a CAGR of 12.4% during the forecast period of 2020 to 2027.
Resistance bands are elastic bands typically used for physical therapy or workout. These are lightweight bands that help in inducing muscular contraction. Fitness freaks would use them for strength training, and those undergoing any form of physiotherapy might well use it to regain traction in their muscles. Primarily, these bands are meant to be rehabilitation for the muscles as they assist damaged muscles to get back the lost strength. These bands have been in use for a long time but commoditised recently with a splurge of people seeking strength training.
Resistance Bands Market Growth and Trends
The resistance bands market growth in increasing rapidly due to the massive growth in the fitness and fitness industry. The awareness about the importance health and fitness is increasing with each passing day and this has a major impact in the increasing market demand for resistance bands. There has been a surge in the exercising activities globally that has necessitated the increase in the fitness equipment increasing the resistance bands market trend. Also, there has been an increase in the demand for cost-effective home work-out fitness products which has significantly contributed to the increase in the market revenue. Innovations and technological advancements have led to the introduction of smart resistance bands that are equipped with bluetooth sensors and this has accelerated the market demand. There has been an increase in the physical activities at home and this has exhibited the increase in the demand for comfortable and easy to use fitness products thus contributing to a high market demand for resistance bands.
Including exercising in your routine regularly strengthens your muscles and bones and provides the required agility and flexibility and the increasing awareness about the same has resulted in the increasing need for fitness equipments thus increasing its market demand. Various health initiatives by the government to improve the fitness has been a driving force to the increase in the resistance bands market growth. Effective marketing strategy and developments in the organized retail sector have been a key factor in the increase in the market revenue
The major limitation hindering the growth of the resistance band market sector is its low durability when compared to free weights.
Growth factors and trends
Resistance band market is all set to grow in the days to come due to more demand the in pocket-friendly home work out equipment category. With resistance bands, one can perform multiple exercises for elbows, shoulders, knees and feet. As people are increasingly aware of the ill-effects of obesity, such work out regimes is getting common. Right from reducing muscular imbalance to enhancing core strength of the body, the resistance bands have all the points to its favour and hence a bright prospect. In 2018, the market size for such bands was approximately USD 712 million. Till 2025, the market cap for this product is expected to increase by at least 12%, if not more. In the days to come, smart resistance bands with Bluetooth and WiFi connectivity will further rule the category. The use of a resistance band needs no supervision while a person can do at least 25 types of exercises. This cost-effectiveness will drive the market to only higher trends until the forecasted period, i.e., 2025.
The increasing awareness and importance of physical fitness alongside busy schedules of consumers has globally accentuated the growth of the resistance bands market. The benefits derived from resistance bands, such as being lightweight, portable, and inexpensive generate a high demand for them among consumers across all age groups. The advantage of a resistance band’s functioning on the weight applied by a user eliminates the need for separate equipment, therefore targeting different muscle groups in the body, another feature that adds to user satisfaction by helping in the avoidance of multiple use of fitness gadgets. The recent impact of COVID-19 is instrumental in increasing the demand for resistance bands considerably, as consumers have begun to exercise within their living spaces owing to social distancing norms being maintained. Since the global resistance bands market has already witnessed high growth in recent years with an increase in the consciousness for maintaining physical fitness, its growth is most likely to remain sustained at an increasing rate. Market players offering resistance band kits inclusive of a wide range of bands ranging across a huge variety of shapes, sizes, and tensile strengths, sensor-based devices to track body mass index and related indexes, along with specific accessories to perform all forms of exercises ensure a thriving market for these bands, which would propel positive market growth. Novel and innovative products in this segment are creating increased attraction and demand among consumers, consequently fuelling the market growth on a long-run basis across the globe.
However, incorrect usage of resistance bands may cause injuries, which as a result may turn out to be an obstacle in the market growth. Resistance bands are often characterised by low durability in comparison with free weights. Nevertheless, these are only disadvantages outweighed by the overall advantages that resistance bands offer to their users.
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