The global resistance bands market size is expected to reach USD 881.28 Million by 2028; registering at a CAGR of 4.5% from 2022 to 2028, according to a new research study conducted by The Insight Partners.
Increasing Consumer Inclination Toward Home Fitness and Workout Activities Boosting Demand for Resistance Bands
The report highlights key factors driving the market and prominent players along with their developments in the market.
The population across the globe is increasingly engaged in rigorous exercises that aid in weight control and increase strength and stamina, consequently improving the body’s overall health. The adoption of physical activities and regular exercise has increased to improve flexibility, mobility, and agility of the body. The preventive healthcare sector, coupled with an increased preference for customized workout regimes with comfortable home environments, has surged the demand for home fitness activities. Thus, companies are acquiring businesses to gain more profit with rising awareness about home fitness. For instance, in July 2020, Lululemon announced the acquisition of Mirror, an at-home fitness company. This acquisition benefited both the fitness company, which expects to generate more than US$ 100 million in revenue, and to break even or be slightly profitable in 2021. The above factors contribute to the demand for at-home fitness equipment, such as resistance bands. Resistance bands are gaining popularity as at-home fitness equipment due to their benefits in strength training and maintaining balance while exercising. These factors are expected to drive the resistance bands market growth in the forecast period.
Global Resistance Bands Market Breakdown – by Region
Resistance Bands Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Type (Pull-Up Bands, Tube Bands, Therapy Bands, and Others) and Distribution Channel (Supermarkets & Hypermarkets, Specialty Stores, Online Retail, and Others)
Resistance Bands Market Size, Share and Growth Report 2028
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Performance Health Holding Inc, Decathlon SA, Perform Better, Fitness Anywhere LLC, Optibelt GmbH, Crown World Marketing Ltd, Serous Steel, LLC., Starwood Sports Ltd, Flexible Sports GmbH, and Meglio Ltd are among the major players operating in the global resistance bands market. Market players are highly focused on developing high-quality and innovative product offerings to fulfill the varied requirements of their customers.
Impact of COVID-19 Pandemic on Resistance Bands Market
Consumer goods are one of the industries that suffered serious disruptions due to disturbances in supply chains and shutdowns of production plants amid the COVID-19 pandemic. The shutdown of various banks, manufacturing plants, and factories in regions such as North America, Europe, Asia Pacific, South America, and the Middle East & Africa had further ill effects on supply chains, manufacturing, delivery schedules, and sales. Many businesses announced possible delays in product deliveries and slumps in their future sales. However, due to the impacts of the COVID-19 pandemic, consumers have been increasingly attentive to their health and fitness. They started following fitness routines at home. These factors provided a strong growth opportunity for the resistance bands market during the pandemic. Moreover, video classes and at-home workouts have been around since before the emergence of the COVID-19 pandemic, but the pandemic has undoubtedly helped them become more mainstream and popular. Thus the demand of resistance band for at home workout has increased after pandemic.
The report includes the segmentation of the global resistance bands market as follows:
Based on type, the resistance bands market is segmented into pull-up bands, tube bands, therapy bands, and others. Based on distribution channel, the resistance bands market is segmented into supermarkets & hypermarkets, specialty stores, online retail, and others. By geography, the market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. The resistance bands market in North America is further segmented into the US, Canada, and Mexico. The Europe market is subsegmented into Germany, France, the UK, Italy, Russia, and the Rest of Europe. The resistance bands market in Asia Pacific is segmented into China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. The market in the MEA is further segmented into South Africa, Saudi Arabia, the UAE, and the Rest of MEA. The resistance bands market in South & Central America market is categorized into Brazil, Argentina, and the Rest of South & Central America.
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