USD 53.46 billion
Global Exercise Band Market Size, Share, Growth Analysis, By Product(Strip Exercise Bands, Tube Exercise Bands), By Distribution Channel(Online, Offline), By End-use(Individual Users, Health Clubs) - Industry Forecast 2024-2031
Report ID:
SQSG30L2048 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
89 |
Figures:
76
Global Exercise Band Market Insights
Exercise Band Market size was valued at USD 53.46 billion in 2019 and is poised to grow from USD 61.3 billion in 2023 to USD 186.14 billion by 2031, growing at a CAGR of 14.6% in the forecast period (2024-2031).
Increased demand for low-cost fitness products for at-home workouts is expected to drive market growth. Physical activities and regular exercise to improve flexibility, mobility, and agility of the body are expected to drive exercise band market growth. Exercise bands can be used for a variety of exercises involving the shoulders, feet, knees, and elbows. These bands can improve core body strength by reducing muscular imbalance.
Rising online purchasing trends are driving up demand for exercise bands. E-commerce provides a wide range of brands to choose from, as well as various offers and discounts. As a result, the demand for exercise bands is increasing. Furthermore, the low cost of resistance bands and their numerous applications for whole-body workouts support exercise band market demand.
US Exercise Band Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Offline
Fastest Growth
Online
Growth Rate
14.6% CAGR
Global Exercise Band Market, 2021-2028($ Bn)
Country Share for North America Region- 2021 (%)
Global Exercise Band Market Size By Distribution Channel , 2021-2028 ($ Bn)
Global Exercise Band Market Size By Distribution Channel, 2021-2028 (%)
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Global Exercise Band Market Segmental Analysis
The global exercise band market is segmented based on the product, distribution channel, end user and region. Based on the product, Exercise Band Market segmented into strip exercise bands, and tube exercise bands. Based on distribution channel, Exercise Band Market segmented into online, and offline. Based on end user, Exercise Band Market segmented into individual users, health clubs and gyms, and other. Based on region Exercise Band Market categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Exercise Band Market Analysis by Distribution Channel
The global exercise band market is segmented based on distribution channel into online, and offline. The segment's growth is being driven by the increasing use of e-commerce platforms for shopping by millennials and working-class populations around the world. Such online marketplaces offer lucrative opportunities for new market entrants to promote and sell their products globally. Consumers can select from a wide variety of products and easily purchase some select products from remote locations. Companies such as Alibaba and Amazon offer significant discounts in order to increase sales. Convenience, remote shopping, and access to a diverse range of products will propel the online segment in the sale of resistance bands during the forecast period.
Global Exercise Band Market By Distribution Channel, 2021(%), 2023 (%)
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Global Exercise Band Market Regional Insights
The global exercise band market is studied on the basis of geography as North America, Europe, Asia-Pacific, South America, and Middle East & Africa. North America region is expected to account for the largest market due to the large number of people participating in fitness programmes throughout the region. The United States is expected to be a lucrative market for resistance bands. Consumer preferences for a healthier lifestyle are driving regional growth. Furthermore, the rising prevalence of chronic diseases such as cardiovascular disease is expected to drive demand for exercise band in North America. Rehabilitation and physical therapies required for the prevention of heart disease are expected to drive demand for effective fitness techniques.
The Asia Pacific market for exercise bands is expected to grow at the fastest rate. This is due to millennials and the working class becoming more aware of the benefits of living a healthy lifestyle. China and India are two prominent countries where governments are promoting sports and fitness activities through various initiatives. In the coming years, such initiatives are expected to boost regional demand for exercise bands.
Global Exercise Band Market By Geography, 2021 - 2028, 2024-2031
- Largest
- Fastest
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Global Exercise Band Market Dynamics
Exercise Band Market Driver
Launch of Innovative Products to Drive the market Growth
- The demand for exercise bands grows, market players are investing in R&D to introduce new technologies and improve band material. New and innovative products are gaining traction with consumers, which is driving market growth globally. Sensor-based devices, for example, are being introduced by market participants to track body mass index (BMI) and related indexes.
Increase In Physical Inactivity Will Drive Market Growth
- Increased physical inactivity on a global scale, as well as initiatives by various health organizations to reduce it, has resulted in an increase in demand for exercise bands. According to World Health Organization (WHO) statistics, approximately 20% of adults aged 18 and up have not engaged in any form of physical activity in the last decade. As a result, WHO launched the Global Action Plan on Physical Inactivity, with the goal of reducing inactivity by 10% by 2025 and 15% by 2030. As a result, these factors are expected to boost demand for exercise bands and fuel market expansion in the near future.
Exercise Band Market Restraints
Availability Of Counterfeit Products Limit the Market Growth
- The availability of counterfeit products, the potential for injury, the inability to control when stretched, and insufficient resistance are just a few of the constraints that will limit market growth.
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Global Exercise Band Market Competitive Landscape
The global exercise band market is fragmented, with several local and international players present. Resistance bands are manufactured using advanced raw materials and technology. Due to low entry barriers and low production costs, several new market players are entering the market. New product launches, the cost-effectiveness of resistance bands, and product diversification increase market competition. These companies are focusing on strategic partnerships, acquisitions, and venture capital investments to broaden their product portfolio, increase revenue share, and strengthen their market position.
Top Players in Global Exercise Band Market are
- TheraBand
- Black Mountain Products
- Fit Simplify
- Bodylastics USA Inc.
- WODFitters
- Serious Steel Fitness
- SPRI
- Limm
- Liveup SPORTS
- ProSource
- Perform Better
- Resistance Band Training
- Rubberbanditz
- Tarkana
- Super Exercise Band
- Iron Woody Fitness
- Synergee
- Letsfit
- Gaiam
- Victorem
Exercise Band Market Recent Developments
- In June 2021, NovoFit (which has a fitness equipment business in Australia) has announced a partnership with Amer Sports brand, Peecor, to increase strength by capturing a larger market share in the global market.
- In October 2021, Nautilus Inc. introduced the first Bowflex indoor cycling bike, which is affordable to the middle-class range and costs significantly less than the Peloton Bike. It was created to increase people's motivation to exercise.
Global Exercise Band Key Market Trends
- With the rise in health issues, there is a significant increase in regular exercise and physical activities to improve body mobility, flexibility, and agility. As a result, in order to improve health and lifestyle, people are turning to time-saving and alternative solutions such as exercise bands.
- Fitness equipment necessitates training to use and a large space to store it. exercise bands are extremely simple to use and store. As a result, its drift among consumers while performing in-house fitness activities increases.
Global Exercise Band Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global exercise band market analysis, the growing importance of physical fitness, combined with consumers' hectic schedules, propelled the global exercise bands market forward. Exercise bands have advantages such as being lightweight, portable, and inexpensive. Exercise bands function on the weight applied by the user, thereby eliminating the need for separate equipment targeting different muscle groups. However, improper use of exercise bands may result in injuries, which may impede market growth during the forecast period. These factors are expected to have a positive impact on market growth during the forecast period. The European region holds the second-largest market share in the global market due to increasing awareness about health issues, mental health, and fitness in the young generation, which boosts demand for market in the global market during the forecasted period. The Asia-Pacific region holds the third-largest market share because it is the fastest-growing region in the global market and has a positive growth rate toward the market.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 53.46 billion |
| Market size value in 2031 | USD 186.14 billion |
| Growth Rate | 14.6% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Exercise Band Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Exercise Band Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Exercise Band Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Exercise Band Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Exercise Band Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Exercise Band Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Exercise Band Market Report Snapshots
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