The global exercise bands market size was US$ 899 million in 2021. The global exercise bands market is forecast to grow to USD 4101.9 million by 2030 by registering a compound annual growth rate (CAGR) of 18.5% during the forecast period from 2022 to 2030.
Factors Influencing the Market
The gym and fitness sector is growing in popularity around the world. It is attributed to the rising public knowledge of health regimens and their advantages. Furthermore, one of the most recent trends in the worldwide market is the use of exercise bands for physical therapy to strengthen cardiac rehabilitation patients and treat muscular injuries. Thus, all of this will contribute to the growth of the global exercise bands market during the forecast period.
Growing consumer awareness about healthier and smart lifestyles will propel the exercise bands market forward. Furthermore, the rising demand for affordable and cost-effective bands will offer ample growth opportunities for the global exercise band market growth.
In addition, smart exercise bands with motion sensors and bluetooth transmitters are likely to gain traction in the coming years. However, growing concerns over security and privacy may limit the growth of the market.
COVID-19 Impact Analysis:
The COVID-19 pandemic is likely to have a significant impact on market growth. The COVID-19 pandemic has expanded the importance of exercise bands in the healthcare industry. The FMCG business will witness a huge growth potential even in the future. Thus, the exercise bands market is forecast to witness substantial growth. In addition, the growing trend of home exercise will offer ample growth opportunities for the market players. ,
COVID-19 pandemic has mandated the need to shut down public places. Thus, people are avoiding visiting gyms and other places. Thus, the market will get the benefit due to the pandemic.
Regional Analysis
North America is forecast to dominate the global exercise band market in terms of revenue. It is attributed to the growing awareness among the population about a healthy lifestyle. In addition, the presence of a vast number of fitness programs will contribute to the growth of the exercise band market. Furthermore, high disposable income and growing awareness related to the health benefits of exercise bands will drive the regional exercise band market forward.
Competitors in the Market
Market Segmentation
The global exercise band market segmentation focuses on Product, Distribution Channel, Application, and Region.
Based on Product Type
Based on Distribution Channel
Based on Application
Based on Region
