Resistance Bands Market Will Reach US$ 4,172.32 Million by 2033, Driven by Fitness Trends and Home Workouts | FMI

Future Market Insights (FMI) recently released a report estimating the size of the resistance bands market will reach US$ 4,172.32 million by 2033. According to estimates, the market will grow at a CAGR of 12.5% over the forecast period. The market is anticipated to reach US$ 1,284.85 million in 2023.

The market is poised to grow on account of the enormous growth of the fitness industry. The growing awareness of the importance of health and fitness has had a greater impact on the resistance bands market. Due to an upsurge in the exercising routines, the demand for fitness equipment is escalating.

Additionally, the growing demand for cost-efficient home workout fitness products has contributed to the rise in market revenue. Technological advancements and innovations have resulted in the launch of smart resistance bands outfitted with Bluetooth sensors and are supporting the growth of the market.

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The surge in physical activities at home has led to an increase in the demand for easy-to-use fitness products, thus boosting market growth. In addition, the government has initiated health programs that are targeted to improve the fitness of citizens and are also acting as catalysts in market growth.

Moreover, effective marketing tactics and expansion of the organized retail sector are leading to enhance revenue generation in the market.

What’s fueling this explosive growth? Here are some key reps:

• Rising fitness awareness: More people are prioritizing their health and embracing home workouts, making resistance bands accessible and convenient options.
• Versatility and affordability: Offering a wide range of exercises for any fitness level and budget, resistance bands are appealing to a broad audience.
• Space-saving and portable: Perfect for home workouts or on-the-go exercise, resistance bands don’t require bulky equipment.
• Growing online fitness trends: Influencers and online fitness programs are showcasing the effectiveness of resistance bands, driving market awareness.
• Increasing focus on functional fitness: Resistance bands offer effective training for functional movements, improving daily activities and athletic performance.

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Companies Creating Fresh Inventions to Upscale Market Growth

In September 2022, the premier luxury lifestyle platform of India, Tata CLiQ Luxury, ventured into the fitness category by unveiling the ‘Workout Studio’, which is a premium home fitness store. The platform presents easy access to selected high-performance and high-tech premium fitness products from a vast assortment of brands across multiple specialized categories. To uplevel the exercise routines, the company’s home gym accessories category includes products like resistance bands, pads, balance boards, dumbbells, mats, and much more.

In August 2021, TRX, a global leader in world-class training content and functional training products, redefined resistance band training with the introduction of TRX Bandit, a recent fitness innovation. The product is an ergonomically-engineered handle that seamlessly snaps onto one or more strength bands for better comfort. Thereby, allowing users to concentrate on form, control, and overall improved movement patterns during endurance, strength, and mobility training.

Key Companies Profiled

Performance Health, LLC (TheraBand), Wacces, Black Mountain Products Inc., Prosource, ZAJ FIT, Xtreme Bands, Bodylastics International Inc., Fitness Anywhere LLC