Resistance Band Market Size, Share, and COVID-19 Analysis By Type (Flat Resistance Bands, Loop Resistance Bands, and Tube Resistance Bands), By Material (Fabric and Latex), By Distribution Channel (Hypermarkets & Supermarkets, Specialty Stores, Online Stores, and Others), and Regional Forecast, 2024-2032

Growing awareness regarding the health benefits of strength training exercises mainly drives the resistance band demand globally. In addition, the governmental initiative in promoting and encouraging people to participate in physical activities such as muscle building, cardio training, and others is likely to increase the exercise equipment demand and favor the global market growth.

• For example, in August 2019, the Indian government launched the 'Fit India Movement' to encourage people to adopt a body-building exercise routine.

Nowadays, companies such as Performance Health, Bodylastics International Inc., and others focus on offering motion sensors & Bluetooth transmitter-based resistance bands to enable users to track their workout performance while exercising with such products. This aspect will create newer market growth opportunities. 

• For instance, In March 2021, STRAFFR GmbH, a German fitness equipment maker, launched a Bluetooth and sensor-based smart resistance band for medium to high level resistance training users. The users can track their stretching and flexing performances by such a band.

Furthermore, the rising number of gym & fitness centers and physiotherapy clinics suggesting high-quality resistance bands for their clients is expected to increase the product consumption rate among these centers. 

• According to the report ‘Evaluation of Jiankang Health Club’s Business Model Research,’ presented by the International Conference on Economic Management and Cultural Industry (ICEMCI), globally, the number of gyms increased from 183,000 in 2014 to 205,176 in 2020.

Also, the growing popularity of fitness applications among youngsters for maintaining a healthy workout routine is anticipated to increase the product demand globally.

• According to data presented by the World Economic Forum, an international non-governmental institution, globally, between the 1st and 2nd quarter of 2020, the number of health and fitness application users increased by 46% and reached 1.5 billion by the 2^nd quarter of 2020.


• Below are the growth rates for health and fitness-related application downloads in the period, by region,
  
  
  
  • India – 157%
  
  
  • The Middle East & North Africa – 55%
  
  
  • Europe – 25%
  
  
  • Asia Pacific – 47%
  
  
  • Americas – 21%
  
  
  • Rest of World – 43%
  
  
  
  

Impact of COVID-19 on the Resistance Band Market

Nowadays, people prefer doing body exercises in the comfort of their homes to avoid coronavirus infection while exercising at gyms & fitness clubs. In addition, the closure of gym settings and adherence to the COVID-19-related social distancing norms is pushing them toward attending body workout sessions at their homes. These aspects have collectively resulted in accelerated consumer demand for the exercise bands amid the COVID-19 pandemic.   

• For instance, From April 2020 to June 2020, Decathlon S.A., a French sporting goods retailer, reported a 2,000% growth in its resistance band sales globally.

However, the key players’ limited availability of the raw material supplies such as latex, fabric, plastic tubes, and others required in producing resistance bands due to the COVID-19-related supply chain disruption has posed challenges to the market growth during the period.

Key Insights

The report will cover the following key insights:

• Rising Number of Gyms and Fitness Centres – Resistance Band Market.


• Fitness Equipment Industry Overview.


• Market SWOT Analysis.


• Supply Chain and Regulatory Landscape.


• Key industry developments (Merger & acquisition, Product Innovation, and Partnership & Expansion) – Resistance Band Market.


• Impact of COVID-19 - Resistance Band Market.

Analysis by Type

Tube resistance bands’ segment is expected to hold a significant market share due to the higher durability and prices of these resistance bands over counterparts. In addition, users can flexibly change the resistance levels of the tube bands over the loop and flat band types. This aspect results in considerable tube resistance bands globally.

Analysis By Material

The fabric segment is anticipated to lead the market as users can better avoid skin redness and pinch by using fabric-based resistance bands over counterparts. Furthermore, higher durability and cost-effectiveness of fabric-based bands result in considerable product demand in such a segment.

Analysis By Distribution Channel

Hypermarkets & supermarkets’ segment is likely to hold a significant market share due to easy accessibility to these stores' wide variety of resistance bands of different colors, sizes, and designs. Furthermore, the continual provision of discounted fitness items by Hypermarkets & supermarkets is expected to influence consumers to buy exercise bands from these shops, thereby fueling the segmental growth.

Regional Analysis

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The North American region is projected to exhibit the largest global resistance band market share due to the significant U.S. and Canadian spending on fitness products, resulting in considerable key players’ product revenue generation from the region.

• For instance, Peloton Interactive, Inc., a U.S.-based fitness equipment maker, reported an increase in its overall sales from USD 440 million in 2018 to 1,830 million in 2020.

Furthermore, increasing awareness regarding maintaining body weight and the overall health among Canadians and Mexicans is expected to fuel the product demand in these countries.

Key Players Covered

The report will include key players such as Performance Health, Four D, Black Mountain Products Inc., Fitness Anywhere LLC, Bodylastics International Inc., Reebok International Limited, Rogue Fitness, Xtreme Bands, Fit Simplify, HYGEAR Inc., ZAJ FIT, and others.

Segmentation

Key Industry Developments

• March 2021: BODYGYM Fitness introduced a fitness system of resistance bands for world-class at-home workouts.


• August 2021: TRX, a Fitness Anywhere LLC owned-resistance band products brand, launched TRX Bandit, an ergonomically designed resistance band equipped with a handle grip for the users' comfort while using the product.