Global Resistance Bands Market Ascends at a Healthy CAGR of 12.3%

Introduction

Resistance bands are exercise equipment that comprises a rubber tube with a handle attached to a wall, post, or another stationary object. These bands are available in various widths, providing the user with various resistance options. Typically, the bands are color-coded to indicate different resistance levels, and users must select the appropriate level. The bands can be used to simulate a variety of resistance training techniques and weight-bearing exercises. They are also commonly utilized in physical therapy, especially by convalescents of muscular injuries, such as cardiac rehabilitation patients, to facilitate the gradual restoration of muscle.

Market Dynamics

Growing Adoption of Physical Activities and Regular Exercises Drives the Global Market

The demand for resistance bands is driven by the increasing trend among consumers of all ages to wear comfortable and activity-appropriate clothing and accessories. Increased consumer awareness of physical fitness is anticipated to boost the expansion of the resistance band market. People are increasingly interested in physical activities such as yoga, Zumba, aerobics, the gym, strolling, running, jogging, cycling, and stretching. Therefore, resistance bands are in high demand. According to a survey by Natural England in May 2020, nine out of ten individuals believe that running or walking in open and natural spaces benefits their mental health. Individuals have been engaging in various outdoor recreational activities, resulting in a rise in demand for resistance bands.

Technological Advancements in Resistance Bands and Growing Use in the Emerging Economies Creates Tremendous Opportunities

Consumers respond positively to innovative and novel products, driving the expansion of the global market. Companies are introducing sensor-based bands to monitor body mass index (BMI) and related measures. Emerging markets, like India and China, are developing long-term health-related objectives. This trend has increased gym membership and overall physical fitness in the Philippines, China, Japan, and India, whether at home, in a gym, or outside. Nearly 58% of respondents in an Indian Express survey of over 11,500 people said they were happy working in an open environment. Popular among respondents were virtual seminars, yoga, dance fitness, aerobics, cross-country running, and strength training. These trends are anticipated to produce opportunities for the resistance band market over the forecast period.

Regional Analysis

North America is the most significant global resistance bands market shareholder and is anticipated to exhibit a CAGR of 9.2% during the forecast period. The increasing number of health clubs equipped with the most advanced fitness apparatus for various exercises, such as strength training, calisthenics, and yoga, contributes to the expansion of the resistance band market in the region. Resistance band sales in North America are anticipated to be driven by the surging number of product innovations by key competitors such as Performance Health LLC and ProsourceFit. Additionally, the increasing prevalence of obesity in the region's population and rising health concerns drive the regional demand for resistance bands. According to the Centers for Disease Control and Prevention (CDC), roughly two-thirds of adult Americans are overweight. Due to the competitive character of the market, the in-home workouts and do-it-yourself fitness industry has attracted numerous entrepreneurs.

Asia-Pacific is estimated to exhibit a CAGR of 10.0% over the forecast period. Asia-Pacific consumers have started working out at home due to the COVID-19 pandemic, driving up demand for resistance bands. The temporary lockdowns also motivated individuals to upgrade their home gyms and purchase home fitness equipment, significantly impacting the regional market expansion. The region's consumers have become more health and wellness conscious. They seek alternatives to hospital and clinic visits for health surveillance and consultation. This has increased resistance band utilization throughout the region, especially for stretching and exercise. In addition, governments in most Asia-Pacific nations are subsidizing community fitness centers and gyms and funding youth and community sports leagues and training programs, which is anticipated to generate significant market growth opportunities.

Key Highlights

• The global resistance bands market size was valued at USD 1.4 billion in 2022. It is estimated to reach USD 2.7 billion by 2031, growing at a CAGR of 12.3% during the forecast period (2023–2031).
• Based on product, the global resistance bands market is segmented into therapy bands, pull-up bands, and exercise bands. The exercise bands segment owns the highest market share and is predicted to exhibit a CAGR of 9.5% during the forecast period.
• Based on application, the global resistance bands market is divided into individual and health and sports clubs. The health and sports clubs segment is the most significant contributor to the market and is estimated to exhibit a CAGR of 9.31% over the forecast period.
• Based on the distribution channel, the global resistance bands market is bifurcated into offline and online channels. The offline segment dominates the global market and is projected to exhibit a CAGR of 9.2% over the forecast period.
• North America is the most significant global resistance bands market shareholder and is anticipated to exhibit a CAGR of 9.2% during the forecast period.

Competitive Players

Competitive Players

The key players in the global resistance bands market are Performance Health, Black Mountain Products Inc., Bodylastics, ProsourceFit, Fitness Anywhere LLC, Xtreme Bands, 4D, ISO FITNESS EQUIPMENTS, FitCord, and Rubberbanditz, LLC.

Recent Developments

Market News

• In February 2023, the Marvel series was introduced by PowerMax Fitness, one of the leading names in India's fitness equipment and accessories market, to increase the desirability for fitness enthusiasts to own high-quality gym equipment and to leverage the popularity of the Marvel Cinematic Universe (MCU).
• In September 2022, TUT Fitness Group Inc., the leading supplier of high-performance and affordable fitness products, added an 18th patent to its growing worldwide IP portfolio. It continues accomplishing its mission to make functional fitness training accessible to all. The TUT TrainerTM micro gym provides a high-performance functional fitness experience using patented stackable resistance band technology.

Segmentation

Global Resistance Bands Market: Segmentation

By Product

• Therapy Bands
• Pull Up Bands
• Exercise Bands

By Applications

• Individual
• Health and Sports Clubs

By Distribution Channel

• Offline
• Online

By Regions

• North America
• Europe
• Asia-Pacific
• Central and South America
• The Middle East and Africa