Resistance Band Market Size to Grow At 11.5% CAGR From 2024 to 2030.

Resistance Bands Market Size (2024 – 2030)

As per our research report, the Resistance Band Market size is estimated to be growing at a CAGR of 11.5% from 2024 to 2030.

A resistance band is a durable, elastic band composed of rubber or comparable materials designed to enhance muscle strength. In workouts, resistance bands introduce resistance or tension, challenging movements and thereby engaging more muscles, which helps in building strength. Both elderly individuals and those in rehabilitation utilize resistance bands to boost muscle strength, size, and function.

The market's growth is influenced by competition from alternative exercise products. Strength training holds approximately 35% of the fitness equipment market share, while over 60% is dominated by the cardiovascular segment. Although resistance bands are cost-effective and user-friendly, they lack the durability of free weights, weight machines, and other exercise equipment. This lower durability might deter buyers, prompting them to opt for different equipment. Additionally, limited awareness of the effectiveness of resistance bands may lead some individuals to prefer free weights or gyms, potentially impeding market growth.

The resistance bands market is witnessing substantial growth due to rising demand and the proliferation of physical therapy centers, gyms, and fitness centers in the region. The market demand is driven by their frequent use in physical therapy, especially for patients recovering from fractures, or muscular injuries, or undergoing cardiac rehabilitation to progressively regain strength. These bands are also ideal for strength training in gyms and fitness centers. According to the IRHSA, there will be approximately 82.7 million users of health facilities in the US in 2023. FitPass has announced plans to expand in India in 2023, adding up to 2,000 gyms and fitness centers.

The growth of the resistance band market is bolstered by governmental and organizational initiatives worldwide aimed at promoting fitness and exercise. The World Health Organization (WHO) has launched the Sport for Health Program to encourage sports participation and improve global health. The demand for resistance bands is anticipated to rise as a result of government efforts to motivate people to engage in physical activities, such as cardiac training, muscle building, and other sports.

The COVID-19 pandemic significantly impacted the resistance band market, resulting in reduced growth. Supply chain disruptions and temporary manufacturing facility closures led to a 32.45% income drop in 2020. The shutdown of gyms, fitness clubs, rehabilitation centers, and public parks shifted people's preference toward home workouts. The closure of retail stores also affected shopping experiences. However, post-pandemic, the demand for resistance bands surged as more people worked from home. The bands' ease of use, portability, and affordability made them popular for home workouts, driving market growth.

In April 2024, Target Corporation plans to launch a major wellness expansion, introducing over 1,000 new health-conscious products across various categories. These products, starting at $1.99, will be available in stores across 50 states and the District of Columbia. The Blogilates category will feature different types of resistance bands for consumers.

KEY MARKET INSIGHTS:

• Based on the Product Type, loop resistance bands and tube resistance bands dominate the market share due to their wide range of applications. Mini bands and therapy bands have a dedicated customer base seeking specific functionalities, while figure 8 bands carve out a niche for upper-body workouts. The overall demand for these resistance bands is increasing, driven by a growing fitness-conscious population and the convenience they offer in various workout scenarios.
• Based on the End-User, Health and sports clubs dominate the market, accounting for over 70% of the market share, followed by individual users who contribute 29%. Resistance bands are utilized by health clubs and gyms for yoga and strength training. Rehabilitation centers employ these bands for physical therapy, enhancing muscle and bone strength, and conditioning against fractures and injuries. Their portability and ease of use make them a preferred choice for individual users. Sports clubs and athletes utilize resistance bands for mobility training, muscle toning, and strengthening. Since the COVID-19 pandemic, the resistance band market has seen substantial growth as more people began training and working from home. The rise in lifestyle changes and development in emerging economies has further driven market expansion.
• Based on the region, the Asia-Pacific region, encompassing economies such as China, India, and Japan, is the fastest-growing market for resistance bands. Conversely, the North American region holds the largest market share, predominantly driven by the United States, which has a high concentration of fitness and health clubs. The International Health, Racquet, and Sports Club Association (IHRSA) estimates that one in five Americans is a member of at least one health club or studio. The increasing number of chronic disease patients and the shift in preferences toward home fitness are key factors propelling the growth of the resistance band market in North America.
• Companies playing a leading role in the Resistance Band Market profiled in this report are Performance Health, LLC; Black Mountain Products, Inc.; Bodylastic International, Inc. and Xtreme Bands.

Global Resistance Band Market Segmentation:

By Product Type:

• Loop Bands
• Tube Bands
• Mini Bands
• Therapy Bands
• Figure 8 Bands

By End User:

• Individuals
• Health and Sports Clubs
• Others

By Region:

• Asia-Pacific
• North America
• Europe
• South America
• Middle East and Africa

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