Gym Accessories Market Forecast and CAGR
Gym accessories market has registered to grow at a CAGR of 3.5% from 2021-2031. The pandemic caused by COVID-19 not only affected millions of people but also ended up closing areas where individuals socialized, which further led to altering of fitness scheduled and methods which is helping the gym accessories market to grow.
What is Driving Demand for Gym Accessories Market?
The worldwide gym accessories market is developing characterized by a rapid adoption of innovations and a willingness to adapt to changing trends. The business is flourishing enormously on internet business, which is a mainstream retail medium these days that likewise offers purchasers the advantage to look at all the accessible brands of athletic gear.
Gym accessories market is driven especially from the urban and working class population as their schedule involves activities, which have led to mental stress, diabetes, heart diseases etc., which has triggered the need and importance to keep oneself involved in activities using gym accessories.
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What are the Factors Growing the Gym Accessories Market?
As COVID-19 had caused all the individuals to sit at home and maintain their workout programs. Earlier home fitness was a practice for beginners, but the recent happening has caused all to perform workouts at home from different accessories that are financially affordable and not too space acquiring. Furthermore, as a result of the pandemic, people have become more mindful of health problems and obesity, which has resulted in a rise in the sales of gym accessories.
Also as the population is performing home fitness activities, it has resulted in saving their time and money of inconvenience of commuting to a gym, using gym equipment, trainer fees, etc. Therefore, the increase in customized and comfortable schedule of an individual with the liberty of privacy, gym accessories are observing a growth.
Why is U.S. and Canada the Biggest Market for Gym Accessories?
The gym accessories market in the region of the US and Canada expects to grow by a margin of 2.09% from 2021-2031. One of the major reasons for the increase in gym accessories in the region is their food culture, which had led to people suffering from rising fatness, followed by numerous health concerns.
In addition, the companies that are supplying gym accessories are collaborating with fitness enthusiasts and delivering videos and seminars to spread awareness about the importance of physical fitness. Therefore, primitive health care, along with increasing self-awareness about personalized exercise and the availability of a private and comfortable environment is boosting the gym accessories market.
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Europe Demand Outlook for Gym Accessories
Urbanization is the fastest method for growing economy. Also in the competitive era, individuals want a luxurious and comfortable lifestyle but are forgetting the importance of fitness and thus neglecting the concerns caused due to it. Therefore, it has led people to develop health concerns like obesity, fluctuation of blood pressure and osteoporosis, etc.
The growing awareness among individual about the problems is causing to grow of the gym accessories market in Europe. In addition, many of the activities in the field of sport now focus on HEPA (Health-enhancing physical activity) across sectors, to promote physical activity and health, which are enhancing growth. In addition, the demand for strong refurbished accessories is also likely to push the growth of gym accessories.
Some of the major manufacturers of gym accessories are
- Nautilus Inc.
- ICON Health & Fitness Inc.
- Amer Sports
- Torque Fitness
- Brunswick Corporation
- True Fitness
- Octane Fitness LLC.
- Star Trac
- Precor Inc
- Dyaco International Inc
- Senoh Corporation
- Life Fitness
- Foshan Laijian Fitness Equipment Co.Ltd.
Many companies are also working on the innovation that are possible in the gym accessories that can help save energy consumptions. Designers like Byoung-soo Choi and Jun-Kyeong Kim have developed One Bike that is combination of exercise bike and bicycle that is charge via kinetic energy during workout in its stationary mode.
An Adaptive Approach to Modern-day Research Needs
Gym Accessories Market Report Highlights:
- Detailed overview of the parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company
By Product Type
- Ab Straps
- Wrist Wraps
- Body Fat Tester
- Heart Rate Monitor
- Blood Pressure Monitor
- Music Players
- Lifting Chalk
- Exercise Balls
By Distribution Channel
- Retail Stores
- Online Retailers
- Direct Selling
- Specialty Stores
- Home consumer
- Health clubs
- North America
- US & Canada
- Latin America
- Brazil, Mexico, Others
- Western Europe
- Eastern Europe
- Asia Pacific
- Australia and New Zealand (ANZ)
- Greater China
- Rest of Asia Pacific
- Middle East and Africa
- GCC Countries
- Other Middle East
- North Africa
- South Africa
- Other Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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