LONDON--(BUSINESS WIRE)--The global exercise resistance bands market is expected to grow at a CAGR of close to 12% from 2018-2022, according to a new market research report by Technavio.
Global exercise resistance bands market by product and end-user
Technavio’s report on the global exercise resistance bands market analyses the business dimensions and presents a comprehensive breakdown in terms of market segmentation by product, which includes strip exercise resistance bands and tube exercise resistance bands.
Based on end-user, the global exercise resistance bands market has been segmented into individual users, health clubs, and gyms, and other commercial users. During the forecast period, the individual user segment will witness the highest growth because of advantages such as whole-body workout, exercise bands being cost-effective, space savers, and limited or no supervision being required while using them.
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Exercise resistance bands market: regional landscape
In 2017, the Americas and EMEA were the leading contributors to the market and are expected to continue leading the market during the forecast period. Increased interest in fitness in the developing countries of APAC and changing lifestyles in both developed and developing regions are the major factors offering a traction to the growth of the global exercise resistance bands market.
According to a senior analyst at Technavio for outdoor gear research, “High product adoption is expected to be a major feature of the market in the Americas and EMEA, where the US, Brazil, Canada, Germany, France, Spain, and the UK are expected to remain the leading markets for exercise resistance bands market during the forecast period. APAC is expected to be the fastest-growing market during the forecast period due to the growing demand from countries like China, Japan, and India.”
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Other topics covered in the report:
Market drivers:
- Low price and easy usage enhancing consumer adoption
- Penchant for a fit and healthy lifestyle
Market challenges:
- Aspects such as insufficient resistance, potential for injury, and others are deterring the growth of the market
- Rising consumer interest in yoga, aerobics, reiki, and others
Market trends:
- Advent of smart exercise resistance bands
- Growing online retail sales channel
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