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I AgreeAnalysis of Athletic Tapes Market Covering 30 + Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
The global athletic tapes market valued at US$ 543.8 Million in 2022 and in 2023 be valued at US$593.8 Million. During the 2022-2032 period of assessment, demand is expected to rise at a 9.2% value CAGR, likely to reach US$1431.7 Million by the end of the said forecast period.
Demand for oral sprays is expected to increase at 9.2% CAGR from 2023 to 2033 because they are very convenient to use and also cost-effective.
Demand for athletic tapes continues to be driven by their applications in injury prevention and management. In addition to their use as a preventive measure for injury reduction in collision sports, athletic tapes are also used to manage chronic injuries such as tibial stress syndrome. Use of athletic tapes for maintaining the posture and balance while playing a sport is another key factor driving the growth of the athletic tapes market globally.
Report Attributes |
Details |
Anticipated Base Year Value (2022) |
US$ 543.8 Million |
Expected Market Value (2023) |
US$ 593.8 Million |
Projected Forecast Value (2033) |
US$ 1431.7 Million |
Global Growth Rate (2023-2033) |
9.2% |
Market share of US (2023-2033) |
9.1% |
Key Companies Profiled |
|
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From 2018 and 2022, worldwide demand for athletic tapes increased at a steady CAGR of 9.1%, with the United States, Japan, China, Australia, and Europe holding significant shares in the global market.
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.
Meanwhile, the rise of e-Commerce platforms will lead to the added growth of the athletic tapes market. Customers like to take an overview of the products on online platforms before making a purchase. These online platforms help them compare products with several details, thereby enhancing customer experience.
Due to various restrictions enforced by the government to remain indoors with no outside activities, COVID-19 has adversely affected the athletic tapes industry, triggering less sports activities and slowing down the development of the market for athletic tapes.
Sustainable approaches and new design advancements are expected to drive the market forward. Over the next ten years, global sales of athletic tapes are anticipated to surge at 9.2% CAGR.
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The increasing number of sports-related accidents propel the athletic tapes market
The rising sports participation on one hand and an increase in injuries caused by physical activities on the other are expected to drive the adoption of athletic tapes over the coming years. Increasing incidents of muscular soreness among the populace as a result of minor sports-related accidents drive the athletic tapes market growth.
Athletic tapes are becoming more and more popular and in demand for use in injury treatment and prevention accelerating the expansion of the athletic tapes market.
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.
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There are several challenges impeding the athletic tapes market growth. The lack of knowledge in emerging nations and high prices of raw materials may restrain athletic tape demand.
One of the key obstacles that the global athletic tapes industry has faced is that the manufacture of athletic tapes requires the purchase of patent rights, which prohibits many new manufacturers from joining the sector, thus negatively impacting the development of the market.
Attributes |
Athletic Tapes Market |
Growth Factor |
Increasing the use of athletic tapes in preserving posture and balance while participating in sports is likely to drive the athletic tapes market over the course of the forecast period. |
Opportunity |
Increasing athletics, aerobics, and increased awareness to treat physiological illnesses are likely to positively influence market growth over the projection period. |
Attributes |
Sports protection Equipment Market |
Growth Factor |
Increasing engagement of people in sports activities all around the world and Schools are also including mandatory sports activities in their timetables, ultimately increasing the safety equipment sales are some of the factors that drive the growth of the sports protection equipment market. |
Opportunity |
Increasing minor accidents during sports and rising concern over severity of sports injuries are major factor expected to fuel revenue growth of the market in the near future. |
Attributes |
Sports Tapes Market |
Growth Factor |
Rise in athletics, aerobics, and growing knowledge of taking care of physiological disorders are some of the key factors projected to fuel the development of the global market for sports tapes. |
Opportunity |
The increase in body discomfort due to an increase in minor injuries during sports would continue to fuel the development of the sports tapes industry |
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 segment accounts for a CAGR of 9.0% during the forecast period.
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.
Kinesiology tape is highly effective in injury prevention, injury recurrence prevention, pain reduction, and rehabilitation. Also provides added support for muscle movement.
kinesiology tapes facilitate movement, ensuring the performance of the sportsperson is not compromised. In contrast, athletic tapes including zinc oxide and elastic adhesive bandages are waning in demand as they restrict the amount of an area that can move.
Sporting Goods stores will continue to be a lucrative sales channel during the assessment period.
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.
Gaining maximum revenue share in the athletic tapes, independent sporting goods stores emerge as one of the most lucrative sales channels. 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.
Built Active, Sports Thread, ENERTOR, Wuxi Beyon Medical Product Co, are some of the start-up operating in athletic tapes market.
Examples of some of the market participants in the global athletic tapes market identified across the value chain include Mueller Sports Medicine Inc. Kinesio Holding Corporation, 3M A/S, Nitto Denko Corporation, KT Health LLC, Johnson & Johnson, Cramer Products Inc., RockTape, Walgreen Co., PerformTex among others.
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. As part of their efforts to strengthen their market position, athletic tape product suppliers are pursuing partnership and joint venture tactics.
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From 2023 to 2033, demand for athletic tapes is anticipated to surge at a CAGR of 9.2%.
By the end of 2033, the global market for athletic tapes is predicted to reach a valuation of US$ 1431.7 million.
The U.S., Canada, Japan, China, and Germany are expected to drive most of the demand for athletic tapes products.
Mueller Sports Medicine Inc. Kinesio Holding Corporation, 3M A/S, Nitto Denko Corporation, KT Health LLC are top athletic tape manufacturers.
The global athletic tapes market was valued at US$593.8 Million in 2023.