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Resistance Bands Market Report 2024: Size, Growth, Trends, Forecast to 2033
Resistance Bands Market Report
According to The Business Research Company's, The resistance bands market size has grown rapidly in recent years. It will grow from $1.31 billion in 2023 to $1.48 billion in 2024 at a compound annual growth rate (CAGR) of 13.1%. The growth in the historic period can be attributed to heightened physical activities and daily exercise, increased affordability and accessibility of resistance bands, rising home-based gym activity among people around the world.
The resistance bands market size is expected to see rapid growth in the next few years. It will grow to $2.39 billion in 2028 at a compound annual growth rate (CAGR) of 12.7%. The growth in the forecast period can be attributed to surging demand for resistance bands in physical therapy, growing adoption of physical activities and regular exercise, increasing awareness about fitness and health, and increasing preference for compact and portable exercise tools. Major trends in the forecast period include advancements in material science, increasing demand for more advanced and specialized resistance bands, increasing research and development activities, the integration of technology into resistance bands, and initiatives for technological advancements.
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Market Drivers and Trends:
The awareness of fitness and health is expected to propel the growth of the resistance band market going forward. Fitness and health are interrelated concepts that refer to the overall well-being of an individual, both physically and mentally. Fitness generally refers to the physical aspects of health, including strength and endurance, while health encompasses a broader spectrum, including physical, mental, and social well-being. Resistance bands are helpful in fitness and health betterment as they aid with ease of use and advantages for strength training, weight reduction, sports performance, injury rehabilitation, and functional fitness. For instance, in January 2022, according to reports published by Nasdaq Inc., a US-based stock exchange company, in 2021, the gym, health, and fitness club industry achieved a total revenue of $33.25 billion from $32 billion in 2020. Therefore, the growing awareness of fitness and health is driving the growth of the resistance bands market.
Major companies operating in the resistance bands market are developing innovative products, such as the STRAFFR band, to cater to the growing demand for intelligent fitness solutions. This innovative fitness tool integrates a patented sensor system directly into the band, allowing it to measure performance during workouts regardless of where it is pulled. For instance, in September 2021, Straffr, a Germany-based startup company, introduced a bluetooth and sensor-based smart resistance band called the STRAFFR band. This innovative fitness tool connects to a companion app via bluetooth, tracking performance metrics like repetitions, calories burned, and weight moved. This band is made of durable medical-grade silicone, offering enhanced durability compared to traditional resistance bands. Additionally, it comes in medium or strong strength grades and is designed for versatile use, allowing individuals to work out anywhere, be it at home or on the go.
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Major Key Players of the Market:
Lifeline Fitness, Everlast Worldwide Inc., Rogue Fitness Inc., Gaia Inc., Perform Better Inc., RDX Sports, Body-Solid Inc., SPRI Products Inc., ProsourceFit, WODFitters, Theraband Inc., Bodylastics USA Inc., Black Mountain Products Inc., GoFit LLC, Fitness Gear, Serious Steel Fitness, Power Systems Inc., NordicTrack Inc., Fitness Anywhere LLC (TRX), Gold's Gym International Inc., Liveup Sports Co.Ltd., Sling Shot, Wacces Inc., RitFit Inc
Resistance Bands Market 2024 Key Insights:
• The Resistance Bands Market is expected to grow to $2.39 billion in 2028 at a compound annual growth rate (CAGR) of 12.7%.
• Growing Awareness Of Fitness And Health On The Resistance Band Market
• Technologically Advanced Bluetooth And Sensor-Based Fitness Tool For Enhanced Workouts
• North America was the largest region in the resistance bands market in 2023. The regions covered in the resistance bands market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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