At 5.3% CAGR, the Asia Pacific Resistance Band Market is projected to be worth US$ 237.15 million by 2028, says The Business Market Insights

According to the Business Market Insights’ research, the Asia Pacific resistance band market was valued at US$ 174.05 million in 2022 and is expected to reach US$ 237.15 million by 2028, registering a CAGR of 5.3% from 2022 to 2028. Increasing consumer inclination toward home fitness and workout activities and rising popularity of strength training are the critical factors attributed to the Asia Pacific resistance band market expansion.                     

In recent years, the organized retail sector underwent a massive transformation. The rising popularity of e-commerce considerably changed the shopping experience of customers. The rise in penetration of the internet and smartphones, easy access to emerging technologies, high purchasing power, and convenience of shopping from anywhere and anytime provided by online retail platforms are a few of the key factors bolstering the growth of e-commerce Thus, with the rising penetration of e-commerce platforms across the Asia Pacific, the sales of fitness equipment, such as resistance bands, through online platforms are also increasing.

Moreover, people increasingly prefer online retail platforms to buy resistance bands, owing to the availability of various products of different brands at affordable prices, detailed product descriptions, consumer ratings and reviews, and home delivery services. According to eBay sales data, the online sales of at-home fitness equipment have been record-breaking, Fitness equipment retailers such as Decathlon and marketplaces, including Flipkart, Amazon, and Snapdeal, witnessed a surge in the online sale of fitness equipment amid the lockdown. Many manufacturers prefer e-commerce platforms over physical stores to sell home fitness equipment such as yoga mats and resistance bands. The growing e-commerce platform is providing a lucrative opportunity for manufacturers to expand their sales and reach a larger consumer base. Therefore, the growth of e-commerce platforms is expected to offer a lucrative opportunity for the resistance bands market in the coming years.

On the contrary, high popularity of substitute products hurdles the growth of Asia Pacific resistance band market.

Based on type, the Asia Pacific resistance band market is segmented into pull-up bands, tube bands, therapy bands, and others. The pull-up bands segment held 32.1% share of Asia Pacific resistance band market in 2022, amassing US$ 55.81 million. It is projected to garner US$ 75.82 million by 2028 to expand at 5.2% CAGR during 2022–2028.

Based on distribution channel, the Asia Pacific resistance band market is segmented into supermarkets and hypermarkets, specialty stores, online retail, and others. The specialty stores segment held 39.9% share of Asia Pacific resistance band market in 2022, amassing US$ 69.44 million. It is projected to garner US$  92.56 million by 2028 to expand at 4.9% CAGR during 2022–2028.  

Based on country, the Asia Pacific resistance band market has been categorized into China, Japan, India, Australia, South Korea and the Rest of Asia Pacific. Our regional analysis states that the Rest of Asia Pacific captured 38.4% share of Asia Pacific resistance band market in 2022. It was assessed at US$ 66.82 million in 2022 and is likely to hit US$ 88.43 million by 2028, exhibiting a CAGR of 4.8% during the forecast period.      

Key players dominating the Asia Pacific resistance band market are Decathlon SA; Flexible Sports GmbH; Optibelt GmbH; Perform Better; and Serious Steel, LLC among others.  

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