Exercise Band Market size is projected to experience substantial progress from 2021 to 2027.
Exercise band, also known as resistance band, is a stretchable and an elastic band used for strength training. The band is used for physical therapy by health and fitness experts and by patients suffering with muscular injuries along with cardiac rehab patients to allow slow renewal of strength. Exercise band is used to improve muscular imbalance that aids in boosting core body strength. Additionally, an exercise band provides an alternative way for work out and weight loss as well as a defined muscular physique.
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Rising health concerns due to busy schedule of the population will drive the exercise band market growth. As per the statistics published by Centers for Disease Control and Prevention (CDC), 610,000 people died in the U.S. owing to heart diseases in 2015. With rise in health problems, there is significant adoption in regular exercise and physical activities to improve mobility, flexibility, and agility of the body. Therefore, to improve health and lifestyle, the population is moving towards time-saving and alternative solutions such as exercise bands.
Increase in physical inactivity on a global level and initiatives taken by several health organizations to reduce the same has led to an increased demand for exercise bands. As per the statistics published by the World Health Organization (WHO), around 20% of adults aged 18 years or above are not engaged in any form of physical activity in the last decade. Therefore, WHO initiated the Global Action Plan on physical inactivity to reduce the inactivity by 10% by 2025 and 15% by 2030. Hence, these factors are expected to augment the demand for exercise band and fuel the market expansion in the near future.
However, the availability of counterfeit products, potential for injury, uncontrollable when stretched and insufficient resistance are few of the restraints that will hinder the market value.
Strip exercise resistance bands is set to hold the significant exercise band market share in 2020 led by its ability to rehabilitate certain injuries and strengthen the lower body.
The online distribution channel is anticipated to dominate the market in 2020 as it offers several advantages such as convenience, remote shopping and accessibility to various products. In addition, growing acceptance of e-commerce platforms among millennial and working-class population is driving the market demand.
The health clubs and gyms segments are predicted to showcase significant growth during the forecast timeline. Increase in awareness regarding health and fitness along with growing trend aesthetic body will foster the demand and adoption rate of exercise bands. Growing number of health clubs and other fitness related facilities will further enhance the industry growth.
North America exercise band market accounted for majority of revenue share in 2020 impelled by increasing rate of chronic diseases, obesity and weight-related problems in the U.S.
The Asia Pacific region, particularly India and China, is poised to show rapid growth attributing to the factors such as increase in awareness related to health and fitness, government initiatives and growing awareness regarding benefits of healthy lifestyle among millennial and working-class.
Some of the major players involved in the global market are Black Mountain Products, Inc., Reebok, 4D Rubber Company, Reehut, Fitness Anywhere LLC, Rougue Fitness, Bodylastics USA, among others. These companies are focusing on strategic partnerships, acquisitions, and venture capital investments in order to expand their product portfolio, revenue share and strengthen their market position.
Market, By Product, 2016-2027 (USD Million)
Market, By Distribution Channel, 2016-2027 (USD Million)
Market, By End-use, 2016-2027 (USD Million)
The above information is provided for the following regions and countries: