The fitness industry is witnessing a significant growth due to the increasing consciousness about health fitness among the consumers. The fitness industry has been growing rapidly as it serves an essential need of combating the effects of sedentary lifestyles, especially among the baby boomers. The fitness industry has a positive impact on the exercise and fitness accessories market. It has resulted in the increasing demand of the fitness accessories market. Exercise and fitness accessories include skipping ropes, Stretch Mats, Power Tubes, Ankle support, Wrist support, and others. Exercise and fitness accessories manufacturers are focusing on manufacturing more attractive and improved quality accessories, keeping in mind the needs and necessity of the consumers. The exercise and fitness accessories market is expected to grow during the forecast period as a result of rapid growth of fitness industry.
Exercise and Fitness Accessories Market: Market Dynamics
Exercise and fitness accessories market is driven by the growth in the fitness industry. The growing concern about body fitness and physical well-being is fueling up the fitness industry thereby pulling up the exercise and fitness accessories market. Another factor that boosts up the fitness accessories market is the demand for fitness accessories by the young generation who are driven by the inspiration to look good and use appropriate exercise and fitness accessories. Rising disposable income also contributes to the growth of exercise and fitness accessories market.
Exercise and Fitness Accessories Market: Market Segmentation
Exercise and fitness accessories market can be segmented on the basis of product types which includes:
- Exercise Accessories
- Skipping Ropes
- Stretch Mats
- Push up Bars
- Power Tubes
- Wrist Weights
- Light-Weight Lifters
- Fitness Accessories
- Heart Rate Monitor
- Wearable Accessories
- Power bands
- Elbow, Knee, Wrist, Ankle Support
- Fitness Belts
Exercise and fitness accessories market can be segmented on the basis of end-users, which includes:
- Fitness Clubs/Gyms
Exercise accessories such as skipping ropes, stretch maps, power tubes, push up bars and others are must have in gym bags. These accessories can be used for exercising at homes as well as in fitness clubs. Fitness accessory includes heart rate monitor which gives the percentage of one’s heart rate along with and average heart rate of each lap of workouts and the same for overall workouts. It also indicates some calories burnt in each exercise. Wearable accessories include a broad range of products such as shoes, power bands, ankle support, wrist supports, gloves, knee support, elbow support, and others. These accessories help the individual to perform workouts in an appropriate manner thereby enhancing the workout experience.
Exercise and fitness accessories market can be classified based on the end users. These fitness accessories are used either by individuals or fitness clubs/gyms or by both.
Exercise and Fitness Accessories Market: Regional Outlook
Regional coverage for exercise and fitness accessories include North America’s exercise and fitness accessories market, Latin America’s exercise and fitness accessories market, Europe’s exercise and fitness accessories market, Asia-Pacific’s exercise and fitness accessories market and China’s exercise and fitness accessories market and the Middle East’s and Africa’s exercise and fitness accessories market. Exercise and fitness accessories market have a high demand in North America followed by Latin America and Europe. It is because high consciousness about one’s physical well-being which drives them to join fitness clubs or perform indoor exercises thereby impacting the demand for fitness accessories market.
The exercise and fitness accessories market in APAC have a comparatively less penetration as compared to North America, however, is estimated to grow during the forecast period. Developing economy such as India provides a potential scope for the fitness accessories market to grow during the forecast period. Growing population and their concern about health fitness, rising disposable income, increasing youth population are expected to stimulate the growth of fitness clubs in India thereby increasing the demand for exercise and fitness accessories market.
Exercise and Fitness Accessories Market: Market Players
Market players for exercise and fitness accessories market include Adidas, Nike Inc., Puma SE, Biosig Instruments Inc., Hangzhou Gymbo Sports Co., Ltd., and others.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
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- Actionable Results to meet all the business priorities
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The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
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- Latin America
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Below is a snapshot of these quadrants.
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The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
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