The global resistance bands market is predicted to register a CAGR of 12.5% over the forecast period, as per FMI’s analysis. The industry’s size is anticipated to increase from US$ 1,284.85 million in 2023 to US$ 4,172.32 million by 2033 end
The market is poised to grow on account of the enormous growth of the fitness industry. The growing awareness of the importance of health and fitness has had a greater impact on the resistance bands market. Due to an upsurge in the exercising routines, the demand for fitness equipment is escalating.
Additionally, the growing demand for cost-efficient home workout fitness products has contributed to the rise in market revenue. Technological advancements and innovations have resulted in the launch of smart resistance bands outfitted with Bluetooth sensors and are supporting the growth of the market.
The surge in physical activities at home has led to an increase in the demand for easy-to-use fitness products, thus boosting market growth. In addition, the government has initiated health programs that are targeted to improve the fitness of citizens and are also acting as catalysts in market growth.
Moreover, effective marketing tactics and expansion of the organized retail sector are leading to enhance revenue generation in the market.
Top Highlights from the FMI’s Analysis of the Resistance Bands Market:
North American market took a large share of the market in the historical period and is expected to continue its dominance over the forecast period as well. The reason behind the region’s solid stand in the market can be attributed to the large population count involved in fitness programs across the region.
The Asia Pacific is predicted to flourish at a significant CAGR over the forecast period. The market is driven by widespread awareness of the advantages of a healthy lifestyle.
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The therapy bands segment, based on type, is forecast to expand at a robust pace. The growing significance of therapy bands in the Pilates program for better resistance is expected to propel segment growth.
The specialty stores segment is projected to represent a large share of the market. The availability of a wide range of fitness products in one place is pushing people to conveniently shop from specialty stores.
Companies Creating Fresh Inventions to Upscale Market Growth
In September 2022, the premier luxury lifestyle platform of India, Tata CLiQ Luxury, ventured into the fitness category by unveiling the ‘Workout Studio’, which is a premium home fitness store. The platform presents easy access to selected high-performance and high-tech premium fitness products from a vast assortment of brands across multiple specialized categories. To uplevel the exercise routines, the company’s home gym accessories category includes products like resistance bands, pads, balance boards, dumbbells, mats, and much more.
In August 2021, TRX, a global leader in world-class training content and functional training products, redefined resistance band training with the introduction of TRX Bandit, a recent fitness innovation. The product is an ergonomically-engineered handle that seamlessly snaps onto one or more strength bands for better comfort. Thereby, allowing users to concentrate on form, control, and overall improved movement patterns during endurance, strength, and mobility training.
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Key Companies Profiled
Performance Health, LLC (TheraBand), Wacces, Black Mountain Products Inc., Prosource, ZAJ FIT, Xtreme Bands, Bodylastics International Inc., Fitness Anywhere LLC
