Home Speciality Chemicals Resistance Bands Market Size, Demand, Report to 2031

Resistance Bands Market

Resistance Bands Market Size, Share & Trends Analysis Report By Product (Therapy Bands, Pull Up Bands, Exercise Bands), By Applications (Individual, Health and Sports Clubs), By Distribution Channel (Offline, Online) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2023-2031

Report Code: SRSC54667DR
Study Period 2019-2031 CAGR 12.3%
Historical Period 2019-2021 Forecast Period 2023-2031
Base Year 2022 Base Year Market Size USD 1.4 Billion
Forecast Year 2031 Forecast Year Market Size USD 2.7 Billion
Largest Market North America Fastest Growing Market Asia Pacific
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Market Overview

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).

Resistance bands are fitness workout tools typically consisting of a rubber tube with a handle on one end attached to a wall, post, or other stationary objects. These bands come in various thicknesses, providing the user with a comprehensive range of resistance options. Usually, the bands are color-coded to show various resistance levels, and users must choose the proper level.

Resistance bands can be used to perform a range of resistance training methods and simulate weight-bearing workouts. They are also commonly employed in physical therapy, particularly by convalescents of muscular injuries, like cardiac rehab patients, to facilitate the gradual restoration of strength. Resistance bands are easy to use, and their light weight makes them portable so that strength training routines can be continued while traveling. They are efficient, low-cost, and simple to use.

Market Dynamics

Market Drivers

Growing Adoption of Physical Activities and Regular Exercises

The demand for resistance bands is expected to increase as more adults engage in physical activities and exercise regularly. A growing tendency among customers of all ages to wear comfortable and activity-appropriate clothes and accessories drives the resistance bands market demand. The resistance bands market expansion is expected to be aided by the increased consumer awareness of physical fitness.

People are becoming more interested in various physical activities, including stretching, yoga, Zumba, aerobics, gym workouts, walking, running, and jogging. Therefore, resistance bands are in high demand. According to a survey by Natural England in May 2020, 9 in 10 people believe running or walking outdoors in open and natural spaces is good for their mental health. People have been engaging in various outdoor recreational activities, which has led to an increased demand for resistance bands.

Increasing Number of Gyms and Fitness Clubs

Following the COVID-19 pandemic, the fitness industry is primed for explosive expansion, shifting fitness habits away from gyms and toward outdoor, home fitness, and digital options. According to the data released by RunRepeat in October 2021, the fitness industry's income dropped by 32.45% in 2020, but it is expected to recoup to 0.55% of pre-pandemic levels by the end of 2021.

Additionally, the fitness equipment market grew the greatest during the foremost year of the pandemic, going from 6.81 billion in 2019 to 10.21 billion in 2020, a 50.6% increase. On the other hand, the online/digital fitness industry has had the most growth throughout the pandemic. The Global Wellness Institute estimated that 3.7% of the world's population is a gym or fitness studio member, attends independent fitness classes regularly, or works out in public facilities or on their own, with each participant spending USD 384 in 2018. Such factors boost resistance bands market growth.

Market Restraint

Injuries from Incorrect Use of Resistance Band

Like all workout equipment, resistance bands can be dangerous if not handled and used properly. Resistance band exercise's two main dangers are breaking the band or letting go of a tensioned end. These activities can cause the band's end to snap violently toward the user, perhaps causing significant injury. Additionally, there are injuries resulting from tube snapping back in on the user and injuries caused by a product failure, such as a broken tube, handle, or another component. Some accidents occur when the person is wearing the band and falls, which can happen if the band breaks while the user puts their weight onto it. Thus, such factors hinder market growth.

Market Opportunities

Technological Advancements in Resistance Bands and Growing Use in the Emerging Economies

Market participants are investing significantly in R&D to provide new technologies and enhance band material in response to the rising demand for resistance bands. Consumers respond positively to new and inventive products, propelling global market growth. For example, sensor-based bands to track body mass index (BMI) and related measures are being introduced by companies.

Additionally, emerging markets, like those in India and China, are forming long-term goals focused on a healthy lifestyle. This tendency has boosted gym membership and overall physical fitness in countries such as the Philippines, China, Japan, and India, whether at home, in gyms, or outdoors. For instance, when the Indian Express polled over 11,500 people across India, almost 58% stated they were comfortable working in an open space. In addition, virtual classes, yoga, dance fitness, aerobics, cross-country running, and strength training were popular among respondents. These trends are expected to create resistance bands market opportunities over the forecast period.

Regional Analysis

Based on region, the global resistance bands market is bifurcated into North America, Europe, Asia Pacific, Central and South America, and the Middle East and Africa.

North America Dominates the Global Market

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. Higher spending power and the growing concerns over lifestyle diseases have increased consumer awareness of healthy living across the region. Furthermore, the growing number of health clubs with the latest fitness equipment for different exercises, such as strength training, calisthenics, and yoga, consolidates the growth of the resistance bands market in the region. The rising interest in in-home workouts and fitness equipment also boosts North America's resistance bands market growth. Similarly, the rising number of product innovations by key players like Performance Health LLC and ProsourceFit is anticipated to drive the sale of resistance bands in North America.

Additionally, the growing rate of obesity among the regional population and the rising health concerns are further driving the demand for resistance bands in the region. As per the Centre for Disease Control and Prevention (CDC), approximately two-thirds of the adult U.S. population is overweight. Furthermore, the emergence of mobile workout applications and home workouts has surged during the COVID-19 pandemic. Due to the market's competitive nature, the in-home workouts and DIY fitness sector has attracted several entrepreneurs.

Asia-Pacific is estimated to exhibit a CAGR of 10.0% over the forecast period. The market for resistance bands is gaining momentum in Asia-Pacific as consumers switched to exercising at home owing to the onset of the COVID-19 pandemic. The temporary lockdowns also inspired people to improve their home gyms and invest in home fitness equipment, significantly impacting the regional market growth. In addition, consumers in the region have become more conscious of health and wellness. They seek alternative health monitoring and consultation methods to avoid visits to hospitals and clinics. This has increased the usage of resistance bands across the region, particularly for stretching and exercising. In most countries across the Asia-Pacific, governments are supporting recreational physical activities and sports in a variety of ways, such as subsidizing community fitness centers and gyms, as well as providing funding for youth and community sports leagues and training programs, which is also expected to create significant growth opportunities for market growth.

In Europe, a robust fitness industry is the primary aspect driving the resistance bands market demand. Several international gyms and fitness clubs across the region offer consumers modular and flexible subscription offers, spurring the usage of various resistance bands within these segments. Additionally, the surge in fitness apps for home workouts and the rising availability of these products in the online marketplace is increasing the market for resistance bands. According to England Athletics, in 2020, more than 7 million people run twice a month, and 12 million are occasional runners. Many running and training mobile apps encourage people to stay fit. According to Our Sporting Life, more than 1 million people downloaded the "Couch to 5K" running plan app in 2020. Such trends are expected to create an optimistic outlook for the growth of the resistance bands market in the coming years.

The Central and South America market's growth is driven by the regional population's inclination toward healthier lifestyles due to the COVID-19 pandemic. Demographically, the region is home to a sizeable population of young people, with the median age of the regional population ranging between 26 and 35 years. In recent years, trends in the fitness industry across the region have shifted from multipurpose clubs to specialized fitness centers, signifying a change in consumer preferences and the willingness of fitness establishments to invest capital in venturing into new business models. According to the International Health, Racquet, and Sportsclub Association (IHRSA), the average membership rate of the population in Central and South America in fitness clubs stands at 2.15%, indicating a huge potential for market growth.

Report Scope

Report Metric Details
Segmentations
By Product
  1. Therapy Bands
  2. Pull Up Bands
  3. Exercise Bands
By Applications
  1. Individual
  2. Health and Sports Clubs
By Distribution Channel
  1. Offline
  2. Online
Company Profiles Performance Health Black Mountain Products Inc. Bodylastics ProsourceFit Fitness Anywhere LLC Xtreme Bands 4D ISO FITNESS EQUIPMENTS FitCord Rubberbanditz, LLC.
Geographies Covered
North America U.S. Canada
Europe U.K. Germany France Spain Italy Russia Nordic Benelux Rest of Europe
APAC China Korea Japan India Australia Taiwan South East Asia Rest of Asia-Pacific
Middle East and Africa UAE Turkey Saudi Arabia South Africa Egypt Nigeria Rest of MEA
LATAM Brazil Mexico Argentina Chile Colombia Rest of LATAM
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends
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Segmental Analysis

The global resistance bands market is segmented by product, application, and distribution channel.

Based on product, the global market is segmented into therapy bands, pull-up bands, and exercise bands. 

The exercise bands segment owns the highest resistance bands market share and is predicted to exhibit a CAGR of 9.5% during the forecast period. Exercise resistance bands have become a popular way of creating resistance to build strength since the COVID-19 pandemic hit because they take up little to no storage space and are an easily accessible way to work out from home. The demand for exercise bands is rising as more people realize how crucial exercise is to maintaining their physical and mental health. In addition, these bands help build muscle by recruiting stabilizing muscle groups and providing extra intensity to other body-weight exercises. Other benefits include greater body control, flexibility, and rehabilitation aid. The growing availability of these bands through e-commerce portals like Amazon, Walmart, SuzieB Fitness, Clench Fitness, Target, and Tesco is driving product visibility.

Therapy resistance bands have been gaining prevalence among athletes and fitness enthusiasts to strengthen, stretch, and perform physical training. These bands are considered versatile strength training tools, lightweight and portable, and cost less than a month's membership at most gyms. Additionally, therapy bands can be easily wrapped around the hands, and their length can be adjusted accordingly. The growing focus on fitness has driven the demand for therapy bands, particularly for general strength training. Bodylastics, TheraBand, and Power Systems are the key manufacturers of therapy bands.

Based on application, the global 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. In recent years, a rising number of adults have been going to health clubs and gyms to curb the side effects of a hectic urban lifestyle, specifically to increase cardiovascular fitness and improve overall health. Moreover, the rise in health issues pushes people toward a healthy diet and daily exercise, propelling the demand for health and sports clubs and fitness studios. This drives the uptake of resistance bands at such commercial avenues. For instance, F45 Training, a fitness studio, has expanded to over 1,200 F45 Training studios in 36 countries and counting. According to the CEO, the need for gyms is expanding owing to increasing urbanization, a burgeoning middle class, and rising disposable incomes. They offer specialized fitness training styles and luxurious surroundings, which are some of the prominent factors attracting its clientele.

Resistance bands could replace gym equipment because many consumers have been exercising at home due to the COVID-19 pandemic. During the imposed lockdown, consumers explored ways alternate exercises and fitness activities could be done at home to help them deal with psychological and physical health issues and consequences, significantly boosting resistance bands' use. An increasing number of consumers suffer from obesity, driving the demand for resistance bands. The rise in government initiatives for improving the fitness of people across the globe is expected to fuel market growth.

Based on the distribution channel, the global 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. Consumers are increasingly purchasing resistance bands from offline stores. The increased focus on self-care and physical well-being has driven consumers' interest in resistance bands, which has led major offline retailers, including prominent supermarket chains, to witness a surge in product sales. Decathlon, Walmart, Target, and Costco are among the prominent supermarket chains that stock and sell a range of resistance bands.

Online channels have been gaining popularity over the past few years owing to the growing trend of online shopping across the globe. Consumers are increasingly shopping for resistance bands online due to the rising visibility of premium brands like Performance Health (TheraBand), Fitness Anywhere, XTREME BANDS, and Bodylastics. E-commerce portals offer free shipping on premium and higher-priced products and other features such as free delivery, deals, gift vouchers, and gift cards. This has been boosting the growth of the online segment.

Market Size By Product

Recent Developments

  • 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).
  • 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.

Top Key Players

Performance Health Black Mountain Products Inc. Bodylastics ProsourceFit Fitness Anywhere LLC Xtreme Bands 4D ISO FITNESS EQUIPMENTS FitCord Rubberbanditz, LLC. Others

Frequently Asked Questions (FAQs)

Who are the prominent players in the resistance bands market?
The key players in the global resistance bands market are Performance Health, Black Mountain Products Inc., Bodylastics, ProsourceFit, Fitness Anywhere LLC.
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).
The market is being driven by the increasing adoption of physical activities and regular exercises, as well as the increasing number of gyms and fitness clubs.
Based on application, the market for resistance bands is divided into individual and health and sports clubs.
North America is the largest worldwide resistance bands market shareholder, with a CAGR of 9.2% expected throughout the projection period.


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