Gym Accessories Market Revenue Estimated to Cross $12.01 Billion by 2031

According to a new report published by Allied Market Research, titled, "Gym Accessories Market," The Gym Accessories Market Size was valued at $6.51 billion in 2021, and is estimated to reach $12.01 billion by 2031, growing at a CAGR of 6.2% from 2022 to 2031.

Gym accessories include specialized support products that are designed to boost performance during and increase recovery speeds after physical activities like athletics, workouts, or bodybuilding as well as products that are used for refreshments, entertainment and nutrition intake during the workouts. These products are used during physical activity to provide support and maintain proper forms and angles of the body during strenuous physical activities to reduce muscle stress, hyperextensions, and muscle and joint fatigue.

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Recent years have seen a major increase in the awareness of consumers regarding health, fitness, and gym activities. This increase in awareness has caused an upsurge in the number of people who partake in such activates and also choose such activities as a profession. In order to obtain optimum performance and results out of such strenuous activities, the various parts of the body need support and strength which are provided by various kinds of gym accessories.

Most of the gym accessories available in the market aim at providing support to the consumers and maintaining proper posture and techniques in order to avoid strains, fatigue, and injury. This helps in increasing the time for which the consumer can carry out physical activities and in reducing the complexity of some difficult workouts. Moreover, the use of such products helps retain more energy in the body by providing adequate support to the bodies essential parts such as wrists, back and arms, so that unnecessary energy is not spent in the process of weightlifting or working out. Also, the use of products such and heart rate and blood pressure monitors can also help increase the stamina of the consumers and can help the consumers fine tune their fitness activities depending on their cardiovascular condition and their aim of fat loss or muscle development. Furthermore, supplementary accessories like towels, mats, sippers, mp3 players and fitness trackers also help in improving the overall experience and affectivity in the gym and in workout sessions.

The increasing use of gym accessories amongst casual consumers is due to the increase in the trend of going to the gym and working out, coupled with greater knowledge regarding the use of such products. Furthermore, an increase in the number of specialized shops dedicated to such products, coupled with the easy availability of such types of products through online retailers has made it very easy for consumers to procure such products, which is helping the market grow.

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Key Take Away

Heart rate monitor segment is likely to be the fastest growing segment during the forecast period.
Health club/gym dominated the market and is likely to remain dominant during the forecast period.
Specialty Stores segment dominated the market and is likely to remain dominant during the forecast period.
Asia-Pacific is likely to be the fastest growing region during the forecast period.
The gym accessories market is segmented into type, end user, distribution channel, and region. By type, the gym accessories market is classified into abs straps, belts, wrist wraps, heart rate monitor, blood pressure monitor, exercise balls, and others. Depending on end user, the market is categorized into home, apartment, health club/gym, hotel, corporate office, and public institution, hospitals & medical center. According to distribution channel used for gym accessory sales, the market is segmented into online and offline channels.. Region-wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, Italy, Spain, Russia and rest of Europe), Asia-Pacific (China, India, Japan, Australia & New Zealand, South Korea, ASEAN and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, Turkey, South Africa, and rest of LAMEA).

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According to the Gym Accessories Industry players, the major obstacle attributed to the pandemic was the disruption of the supply chain. Furthermore, all the Distribution Channel s were nearly shut down in the first quarter of the pandemic. However, online channels such as amazon and flipkart were delivering the products. The key players included in the Gym Accessories Market Analysis are Icon Health & Fitness, Torque Fitness, Core Health & Fitness, Naitilus, Inc, Techno gym S.p.A, Peloton Interactive, Antasports, Lifefitness, Aerofit, beingstrong, sfhealth, jeraifitness, Proform, Fitness World AS, Hammer Sport AG, and Rogue Fitness.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domains.

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