Market Forecast
Global Resistance Bands Market size is projected to be valued at USD 1.74 Billion by 2027, recording a CAGR of 12.25% between 2020 and 2027 Resistance bands act as an alternative to free weights and large equipment present at workout centers. These bands are generally made with latex rubber; however, market players are blending fabric with latex to add unique designs and color to the final products. Most of the resistance bands are color-coded to indicate the tensile strength such as red for light strength, black for medium-strength, purple for medium to heavy strength, green and blue for heavy strength. However, due to a variety of exercises, consumers using weights face difficulties in quantifying their progress. This is expected to restrict market growth during the forecast period. Moreover, due to the outbreak of COVID-19, consumers have increasingly become health conscious and are looking forward to a healthy lifestyle. The growing number of people involved in physical fitness and regular exercise have fueled the sales of resistance bands across the world.
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Market USP
Versatility, low-cost, and portability offered by resistance bands
Growth Opportunities in the Market
Growing Demand for Multi-Purpose Products: Products such as medicine balls and stability balls have multiple utilities. Similarly, resistance bands can be used to perform multiple exercises. Due to this, consumers save on additional costs and storage space. Resistance workouts are often based on modifying similar, strength-training exercises and can target multiple areas such as shoulders, waist, and abdomen. Thus, versatility and effectiveness are expected to drive the global sales of resistance bands during the forecast period.
Celebrity Promotions: Celebrities have always been idolized for their attractive appearances and fitness routines. Various celebrities not only follow healthy lifestyles but also promote their personal fitness regimes on social media, inspiring people across the world, especially the youngsters. Moreover, popular fitness coaches such as Jen Widerstorm, Katie Crewe, and Ben Bruno are taking initiatives through social media to influence the minds of consumers towards exercises and staying fit at home during the present scenario. These factors have directly boosted the demand for resistance bands across the world.
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Non-Store-Based Distribution Channels Gaining Popularity Across the Globe: The non-store-based segment is projected to register the higher growth rate during the forecast period.
Manufacturers of resistance bands are inclined towards non-store-based distribution channels for increasing product sales. Moreover, the COVID-19 pandemic has resulted in lockdowns being imposed in the majority of the countries and has resulted in the closure of retail stores. Companies are opting for online distribution platforms as they want to extend their consumer reach, considering the present situation. Also, consumers have the ease of choosing the right product from an extensive list of similar products along with detailed descriptions and product images captured from different angles for reference.
Key Players
- Performance Health Holding, Inc. (US)
- Wacces, Inc. (US)
- Black Mountain Products, Inc. (US)
- ProsourceFit (US)
- Zaj Fit (US)
- Xtremebands (Canada)
- Bodylastics USA Inc. (US)
- Fitness Anywhere LLC (US)
- Decathlon S.A. (France)
- The Peach Builder Co. (New Zealand)
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