A resistance band is an elastic band used for strength training. They are also commonly used in physical therapy, specifically by convalescents of muscular injuries, including cardiac rehab patients, to allow slow rebuilding of strength. The resistance bands market is bolstering owing to consumer inclination toward home fitness and workout activities. Further, the rising popularity of strength training is further propelling the market growth. In addition, strength training amongst women is gaining popularity as they are opting for strength training over traditional cardio. These are the factors anticipated to fuel the resistance bands market growth in the coming years.
In 2020, various industries had to slow down their operations due to disruptions in value and supply chains caused by the shutdown of national and international boundaries. The COVID-19 pandemic adversely affected economies and industries due to lockdowns, travel bans, and business shutdowns. Disruptions in the supply chains of key raw materials and irregularities in manufacturing processes due to restrictions imposed by government authorities directly impacted the consumer goods industry, which hampered the production and demand of products such as resistance bands. However, the onset of the COVID-19 pandemic has helped video classes and at-home workouts become more mainstream and popular. In 2020, many people either temporarily discontinued their gym memberships or canceled them as gyms were forced to shut down due to the global lockdown. As a result, many people started a fitness routine at home with the help of virtual exercise content such as fitness-centric YouTube channels. Online fitness enthusiasts helped audiences keep their routines despite the drop in in-person classes. Thus, the rising adoption of in-home fitness practices increased the demand for resistance bands.
Sports trainers, physiotherapists, rehabilitation physicians, and orthopedists are adopting innovative exercise methods to treat patients and increase their strength. In recent years, the popularity of strength training has been increasing, making it the most popular workout. According to the State of Fitness Results for Fall 2021, strength training is the second most popular form of exercise. A few of the significant health benefits of strength training are increased muscle mass, stronger bones, joint flexibility, weight control, and increased flexibility and balance, among others. Resistance bands are beneficial for strength and muscular endurance. The more the band is stretched, its resistance to stretch becomes higher. Because of this, coaches often use elastic bands to increase an athlete’s strength. These factors are expected to drive the market growth in the coming years.
Based on type, the resistance bands market is segmented into pulled-up bands, tube bands, therapy bands, and others. The therapy bands segment is projected to register the highest CAGR during the forecast period. These bands are wide and flat, making them easy to wrap around hands and adjust the length easily. They can also be cut into smaller pieces or used to stretch. Therapy bands have gained popularity in Pilates programs to add resistance, and they can also be used for general strength training.
Based on distribution channel, the resistance bands market is segmented into supermarkets & hypermarkets, specialty stores, online retail, and others. The specialty stores segment held the largest share of the market in 2021. These stores are widely preferred distribution channels for fitness essentials such as resistance bands due to the availability of an extensive range of fitness products in one place. Also, the availability of products through different fitness brands, attractive deals, discounts, and high-end customer service attracts consumers. Trained staff in the store helps customers find the right product. Thus, the adoption of specialty stores for buying resistance bands is increasing.
The key players operating in the resistance bands market include 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. These players focus on providing high-quality products to fulfill customer demands. They also focus on strategies such as investments in research and development activities and new product launches.
The regional trends and factors influencing the Resistance Bands Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Resistance Bands Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 677.26 Million |
| Market Size by 2028 | US$ 881.28 Million |
| Global CAGR (2022 - 2028) | 4.5% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Resistance Bands Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Resistance Bands Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The major players operating in the global resistance bands market are Performance Health Holding, Inc.; Decathlon S.A.; Perform Better; Fitness Anywhere LLC.; Optibelt GmbH; Crown World Marketing Ltd.; Serous Steel, LLC.; Starwood Sports Ltd.; Flexible Sports GmbH; and Meglio Ltd.
Growth of e-commerce platform to provide potential market opportunities in the coming years for the resistance bands. The organized retail sector underwent a massive transformation. The emergence of e-commerce considerably changed how people shop and spend their money. The increasing penetration of the internet and smartphones, easy access to emerging technologies, rising purchasing power, and convenience of shopping from anywhere, anytime provided by online retail platforms are among the key factors bolstering e-commerce.
Based on type, pull-up bands segments mainly have the largest revenue share. Pull-up bands are used for resistance training, general conditioning, stretching, and rehabilitation. These bands are available in various types based on resistance and power levels. The thicker bands assist pull-ups, chin-ups, bar muscle-ups, and ring dips, while lighter bands are perfect for triceps and biceps exercises. Benefits associated with the use of these bands, such as building grip strength, helping train in a proper form, and improving stability, are fueling their demand.
North America accounted for the largest share of the global resistance bands market. The global resistance bands market in North America is further segmented into the US, Canada, and Mexico. In North America, resistance bands are being considered as one of the versatile strength training tools. The resistance bands are gaining traction due to its lightweight, and portability, and they cost less than month’s membership at most gyms. Hence, increasing demand for cost-effective fitness equipment to work at home or other convenient places is anticipated to fuel the resistance bands market growth.
Increasing consumer inclination toward home fitness and workout activities is driving the resistance bands market. 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. In addition, the rising number of fitness training applications and sites has further contributed to the growth of home fitness. Online fitness sites and mobile applications allow consumers to train at home with professionals who make their skills available through the tools of the network. Thus, with rising awareness about home fitness, companies are acquiring businesses to gain more profit.
Based on the distribution channel, online retail segment is projected to grow at the fastest CAGR over the forecast period. Online retail is one of the fastest-growing distribution channels due to its shopping and product delivery convenience. Online retail offers a wide variety of fitness equipment with heavy discounts, and consumers can conveniently buy desirable products remotely. Besides, home delivery service attracts a large group of customers to shop through e-commerce platforms. Manufacturers are also penetrating their products through online platforms, as the e-commerce industry is gaining traction.