The global resistance bands market size is expected to reach USD 1.62 billion by 2025, expanding at a CAGR of 12.4% over the forecast period according to a new report by Grand View Research, Inc. Rising awareness for the fit and healthy lifestyle among millennials with a cost-effective fitness product which can be accessible in the least amount of space is the key factor for the augmented sales of resistance bands in the market. In addition to this, increasing applications of these bands such as in the rehabilitation centers, sports, and medical field across the globe is propelling the demand for resistance bands.
Over the past few years, exercise with these resistance bands has become one of the effective ways of functional training, which helps to gain body flexibility, muscle endurance, agility and it helps to boost cardio fitness too. These exercise bands are also beneficial for improving the body’s metabolism and hence widely used for weight management by many of the therapists. In addition, some of the physical therapists provide the resistance band training to arthritis. These factors are expected to expand the market scope of exercise resistance bands over the forecast period.
Health organizations across the globe are taking initiatives to decrease the rising physical inactivity in the millennials and the adults. According to a health and wellness journal ‘The Lancet Global Health’ published in September 2018, around 28% of the world population which is approximately 1.4 billion people in the world are inactive. In order to reduce this inactivity, WHO is set to reduce physical inactivity by 10% by 2025 and 15% by 2030 as per the new ‘Global Action Plan.
North America was the largest market for resistance bands with a share of more than 35% in 2018. The increased importance of fitness management programs among millennials in countries such as the U.S. and Canada as a result of rising health awareness from social media channels including YouTube and Facebook is expected to promote the resistance bands market scope of over the next eight years.
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Resistance Bands Market Report Highlights
• Asia Pacific is anticipated to be the fastest-growing market with a CAGR of 13.0% from 2019 to 2025 owing to increasing awareness towards the healthy and for lifestyle among the millennials and the working-class population in emerging economies including China and India.
• Exercise bands were the largest product segment with a market share of more than 50% in 2018. This segment is expected to witness growth as a result of the increased utility of these products among fitness freak people in their daily workouts.
• The online sales channel is the fastest-growing market segment with a CAGR of 12.8% from 2018 to 2025 owing to convenience and ease of shopping associated with the channel.
• Key market players include Performance Health, LLC (TheraBand), Wacces Store, Black Mountain Products Inc., Prosource, ZAJ FIT, XTREMEBANDS, Bodylastics USA Inc., Four D Rubber Co Ltd, and Fitness Anywhere LLC
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Resistance Bands Market Segmentation
Grand View Research has segmented the global resistance bands market on the basis of product, application, distribution channel, and region:
Resistance Bands Product Outlook (Revenue, USD Million; 2015 – 2025)
• Pull up
Resistance Bands Application Outlook (Revenue, USD Million; 2015 – 2025)
• Health & Sports Clubs
Resistance Bands Distribution Channel Outlook (Revenue, USD Million; 2015 – 2025)
Resistance Bands Regional Outlook (Revenue, USD Million, 2014 – 2025)
• North America
• Asia Pacific
• Central & South America
• Middle East & Africa
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