Resistance Bands Market Size, Share, Market Research and Industry Forecast Report, 2025 (Includes Business Impact of COVID-19)

                                          
Industry Insights, Market Size, CAGR, High-Level Analysis: Resistance Bands Market


The global resistance bands market size was valued at USD 712.8 million in 2018 and is anticipated to exhibit a CAGR of 12.4% over the forecast period. Resistance bands are used in physical therapy to build muscular strength and in rehabilitation of patients. These bands are available in four main categories of resistance: light, medium, heavy, and extra-heavy. In addition, there are color codes to define tension level such as green, yellow, and red. Consumers can choose their equipment according to their fitness and muscle endurance.

Increasing demand for cost-effective fitness products to work out at home is anticipated to propel market growth. Growing adoption of physical activities and regular exercise to improve flexibility, mobility, and agility of the body is expected to impel market growth. Resistance bands can be used to perform multiple exercises for shoulders, feet, knees, and elbows. These bands are capable of boosting core body strength by reducing muscular imbalance.

Various health organizations are taking initiatives in order to decrease significantly rising physical inactivity among people around the world. For instance, according to statistics provided by the World Health Organization (WHO), around 23% of adults aged 18 or above were not involved in any form of physical activity in 2010. By 2016, the number had risen to 28% or 1.4 billion people in the world, according to health and wellness journal ˜The Lancet Global Health published in September 2018. In order to reduce this inactivity, WHO has introduced Global Action Plan on Physical Activity to reduce physical inactivity by 10% by 2025 and 15% by 2030. These aforementioned factors are anticipated to propel demand for resistance bands in the coming years.

Advent of smart resistance bands equipped with motion sensors and Bluetooth transmitters will drive the market over the forecast period. Such bands can be used to target arms, shoulders, legs, and back. In addition, they can offer 25 different movements to support full-body workout. Moreover, availability of multiple functionalities without any supervision and the overall cost-effectiveness of the product will drive the market in the coming years.

Product Insights of Resistance Bands Market

The exercise bands segment held the largest market share of close to 50.0% in 2018 and is anticipated to continue its dominance over the forecast period. It can be segmented into tube, flat loop, figure 8, and ring. Such resistance bands are primarily used to train upper body, lower body, and arms. The product is available with two different surfaces, tube-shaped and flat surface. Major manufacturers are launching new products to match consumer demand. For instance, in 2015, TheraBand, a renowned brand of Performance Health, LLC, launched a latex-free resistance band.

Application Insights of Resistance Bands Market

The health and sports clubs segment held the largest share of more than 70% in the resistance bands market in 2018 and is expected to continue its dominance over the forecast period. Resistance bands are beneficial for muscle endurance and strength. Thereby, they are being used in gyms, health clubs, and sports clubs. Physiotherapists, sports trainers, orthopedists, rehabilitation physicians or physiatrists are adopting innovative methods of exercising to treat their patients.

Healthcare professionals are using resistance bands to treat physical injuries including shoulder dislocation, tennis elbow, runners knee, hip bursitis, sprains and strains, post anterior cruciate ligament (ACL) repair. They are also being used for rehabilitation of cardiac patients across the globe. Individual segment is expected to exhibit highest CAGR of 12.8% from 2019 to 2025 owing to easy accessibility and cost-effectiveness of resistance bands.

Distribution Channel Insights

The online segment is predicted to witness a CAGR of 12.8% from 2019 to 2025 owing to convenience associated with the channel. Growing adoption of e-commerce platforms among millennials and working-class population around the world for shopping is driving segments growth. Such online portals provide lucrative opportunities for new market entrants to promote and sell their products across the globe.

Consumers can choose among wide range of products and can easily buy some selective products from remote locations. Companies including Alibaba and Amazon offer considerable discounts in order to boost their sales. Factors such as convenience, remote shopping, and accessibility to wide range of products will drive the online segment when it comes to sale of resistance bands over the forecast period.

The offline segment held the largest share in the market for resistance bands in 2018 and is expected to continue its dominance over the forecast period. Major retailers including Wal-Mart Stores, Inc. and Decathlon S.A. are expanding their business across the globe in order to gain maximum footfall. They are launching retail stores in developing countries such as Thailand, Bangladesh, Vietnam, India, and China, where unorganized retail is one of the primary distribution channels.

Regional Insights of Resistance Bands Market

North America held the largest share of more than 35.0% in the market for resistance bands in 2018 and is predicted to continue its dominance over the forecast period. This is owing to large number people indulged in fitness programs across the region. The U.S. is expected to be one of the lucrative markets for resistance bands. Shifting consumer preferences towards healthy lifestyle is driving regional growth.

In addition, increasing prevalence of chronic diseases such as cardiac disorder is expected to impel demand for resistance bands in North America. According to the statistics provided by Centers for Disease Control and Prevention (CDC) in 2015, 610,000 people died in the U.S. due to heart diseases. Rehabilitation and physical therapies required for prevention of heart diseases is anticipated to fuel demand for effective techniques to achieve fitness.

The Asia Pacific market for resistance bands is anticipated to witness the highest CAGR of more than 13.0% from 2019 to 2025. This is attributed to growing awareness regarding benefits of healthy lifestyle among millennials and working-class. China and India are some of the prominent countries where governments are taking various initiatives to promote sports and fitness activities. Such initiatives are expected to augment regional demand for resistance bands in the coming years.

Market Share Insights of Resistance Bands Market

Key players in the market for resistance bands include Performance Health, LLC (TheraBand); Wacces; Black Mountain Products Inc.; Prosource; ZAJ FIT; Xtreme Bands; Bodylastics International Inc.; and Fitness Anywhere LLC. The market is governed by utilization of advanced raw materials and technology involved in manufacturing of resistance bands. Low production cost is creating lucrative business opportunities for new market entrants. Companies are able to launch new products to capture significant market share.

Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Resistance Bands Market Research Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, this market research report has segmented the global resistance bands market report on the basis of product, application, distribution channel, and region:

Product Outlook (Revenue, USD Million, 2019 - 2030)

  
Therapy
  
Pull up
  
Exercise

Application Outlook (Revenue, USD Million, 2019 - 2030)

  
Individual
  
Health & Sports Clubs

Distribution Channel Outlook (Revenue, USD Million, 2019 - 2030)

  
Offline
  
Online