Demand for athletic tapes continues to be driven by their applications in injury prevention and management. In addition to their use as a preventive measure for injury reduction in collision sports, athletic tapes are also used to manage chronic injuries such as tibial stress syndrome. Use of athletic tapes for maintaining the posture and balance while playing a sport is another key factor driving the growth of the athletic tapes market globally.
Empirical Evidence on Benefits of Kinesiology Tapes Can Open Up Sizeable Opportunities
Interest in kinesiology tapes piqued as athletes from around the globe have sported it while participating in prestigious international tournaments. Although the jury is still out on the empirical evidence linking kinesiology tape with improved performance, adoption continues to be driven by positive word-of-mouth. The kinesiology tape is usually applied to injuries affecting ankles, shoulders, back, and hands.
Although positive word-of-mouth has helped boost sales of athletic tapes, ambiguities about their actual benefits persist. According to an independent study published in the Sports Medicine, taping can only have a “beneficial role” in the improving the strength and range of motion. The report also suggested that further independent studies should be used for confirming the findings. Considering the market scenario, the demand for kinesiology and other athletic tapes can receive an impetus if conclusive and empirical studies demonstrate their benefits for injury prevention and rehabilitation.
Kinesiology tapes outsell both elastic adhesive bandages and zinc oxide tapes, owing to their numerous advantages. Kinesiology tapes currently account for over 50% revenue share of the market, and demand is likely to remain steady over the course of the forecast period. Conventional athletic tapes including zinc oxide and elastic adhesive bandages are waning in demand as they restrict the amount of an area that can move. In contrast, kinesiology tapes facilitate movement, ensuring the performance of the sportsperson is not compromised.
Although athletic tapes are available at modern trade channels, e-commerce, direct-to-customer channel, and some drug stores, sporting goods stores remain the preferred sales channel for end-users. Availability of a wide range of affordable and aesthetically pleasing athletic tapes at sporting goods stores continues to be a key factor driving demand.
Athletic tape sales through third-party online channels have emerged as a growing trend, with many leading manufacturers tying up with e-commerce portals to target last mile consumers. The availability of athletic tapes in tier II and suburban areas where supermarkets and sporting goods stores are lacking can be attributed to the growing popularity of online channels. Sans any physical presence, leading athletic tape manufacturers are now able to penetrate into markets that were once considered off-limits. It is highly likely that online sales will continue to be a lucrative sales channel during the assessment period.
Visibility Factor Remains Important for Manufacturers
Key participants in the athletic tapes market are focusing on improving product visibility by aligning with sports and tournaments where they expect hundreds of thousands of eyeballs. KT Sports, a key market participant, has frequently tied up with local and international teams to increase product visibility. The type of sport to tie-up with is also of paramount importance, as the visibility of the product varies from sport to sport.
Ongoing technological advancements have enabled leading manufacturers to broaden their product line of athletic tapes in alignment with the requirements of the sports enthusiasts and professionals. In order to restrict the motion of injured joints, support ligaments, and limit excessive abnormal anatomical movements, leading manufacturers are diverting their focus towards development of effective athletic tapes that offer enhanced flexibility and ‘twistability’ while applying to the skin.
Major companies are concentrating on offering their products at reasonable prices on e-commerce portals to expand their customer base and improve their brand identity. Leading companies such as KT Tape has developed blister prevention tapes to offer prevention care of blisters among athletes. These athletic tapes are composed of non-woven and synthetic fabric and protect the athletes from various abrasion injuries such as hot spots, blisters, and chafing while participating in rigorous athletic competitions and training.
In addition, leading companies are concentrating on incorporating advanced features such as latex-free patches in the athletic tapes to protect the skin from germs, water, and dirt in order to remain in the forefront of the competitive market. Through product innovation and differentiation, major companies are focusing on broadening their scope of growth globally.
A research report recently published by Fact.MR offers valuable intelligence on the athletic tapes market during the forecast period, 2018-2028. Extensive research information examines the athletic tapes market in depth, offering an accurate analysis on factors that are significantly impacting the overall market growth.
Athletic Tapes Market: Taxonomy
Valuable intelligence encapsulated in the research report offers qualitative & quantitative analysis on the athletic tapes market, offering an end-to-end view of the current market scenario and growth prospects in the foreseeable future. Detailed insights compiled in the research report offers imperative statistics in terms of US$ Bn. Perspectives derived from accurate insights also throws light on the macroeconomic and microeconomic factors that are influencing the customer purchase decisions, thereby reflecting on the overall market growth. In-depth insights provided in this report briefs the readers on major growth deterrents, determinants, threats, and lucrative opportunities that will impact the progress of market leaders over the coming years.
The research report offers accurate analysis and insights on various segments highlighted in the athletic tapes market, which can benefit the investors and stakeholders in making crucial investment decisions. Segments identified in the global market comprise product type, form type, buyer type, tape width, sales channel, and regions.
Competitive Landscape Assessment
Valuable insights compiled in the report imparts crucial information pertaining to the competitive landscape in the market that enables the leading market players and new entrants to formulate informed business strategies. Based on the accurate analysis and insights provided in the research report, prominent companies can identify the current market trends and redesign their strategies for effective outcomes.
The research report also offers SWOT analysis that discusses the threats, opportunities, weaknesses, and strengths to the key companies operating in the athletic tapes market. Crucial information apropos mergers & acquisitions among market players, novel product developments, and influence of regulatory changes has also been accommodated in the competitive landscape chapter of the study for the perusal of readers and investors.
Research Methodology
A tested & proven research approach has been employed by the analysts at Fact.MR for providing accurate and authentic intelligence derived through the evaluation of major industry dynamics. Valuable insights compiled encapsulated in the research report offers a blend of primary & secondary research to provide the readers and investors with estimates and predictions pertaining to the athletic tapes market.
The secondary research conducted forms the initial research phase, wherein the analysts conduct extensive mining of information by referring to latest and verified data resources, which comprise regulatory and government published material, independent studies, and technical journals. On the basis of this extensive research, market estimates and predictions are derived.
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Athletic Tapes Market Forecast, Trend Analysis & Competition Tracking - Global Market insights 2018 to 2028