Fitness accessories market to reach $12.01 billion globally by 2031 at 6.2% CAGR: Allied Market Research

The rising prevalence of obesity and increasing health awareness mainly drives the growth of the global gym accessories market.

PORTLAND, Ore., August 1, 2022 /PRNewswire/ — Allied Market Research published a report titled, Gym Accessories Market by Type (Abdominal Belts, Belts, Wrist Wraps, Heart Rate Monitor, Blood Pressure Monitor, Exercise Balls, Other), by End User (Home, Apartment, Fitness Center, Hotel, Corporate Office , Public Institution, Hospitals and Medical Center), by Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online Sales Channels, Points of Sale): Global Opportunity Analysis and Sector Forecast, 2021-2031.’ According to the report, the global fitness accessories industry was estimated to $6.51 billion in 2021, and is expected to reach US$ 12.01 billion to 2031, recording a CAGR of 6.2% from 2022 to 2031. The report offers an explicit analysis of changing market trends, key segments, key investment pockets, value chain, competitive landscape and regional landscape.

Allied Market Research logo

Drivers, constraints and opportunities-

The rising prevalence of obesity and increasing health awareness mainly drives the growth of the global gym accessories market. In addition, the increase in the number of gyms, the growing sale of equipment for domestic use, the increase in urban population and the emergence of various government initiatives to promote healthy living drive the adoption of fitness equipment, further complementing the growth of the Marketplace. On the other hand, the high price of fitness equipment hinders growth to a certain extent. However, improving lifestyle, increasing youth population and rising per capita income in developing countries are the main factors that should create lucrative opportunities in the sector.

Covid-19 Scenario-

  • Disruptions related to reduced production capacity, human resources and transportation had an absolute negative impact on the global gym accessories market.

  • The scarcity of raw materials, on the other hand, gave rise to higher prices and encouraged the use of alternative products, which made the situation even worse.

  • Strict restrictions on gym closures in most countries have completely diminished the demand for gym accessories. However, the market almost recovered slowly and steadily.

Request a sample report at https://www.alliedmarketresearch.com/request-sample/17316

The fitness center segment to dominate by 2031-

By end user, the fitness center segment contributed nearly two-fifths of the global fitness accessories market share in 2021 and is expected to lead the way by 2031 due to the increase in the number of health clubs and fitness centers worldwide. world. The corporate office segment, on the other hand, is expected to show the fastest CAGR of 9.3% from 2022 to 2031. This is because several corporate organizations have created fitness centers and offer fitness programs to improve employee health and increase your productivity.

The specialty stores segment to maintain the lion’s share

Based on distribution channel, the specialty stores segment generated nearly two-fifths of the global fitness accessories market revenue in 2021 and is expected to lead the way through 2031. Sports specialty stores can serve as meeting places for enthusiasts, particularly if the owners host special events and product demonstrations, which indirectly promote the newly launched or existing product on the market. Employees at sports specialty stores are familiar with the different fitness accessories available and provide information to their customers to better understand the properties and use fitness accessories effectively. Such characteristics of specialized sports stores attract customers, contributing to the growth of the gym accessories market. The online sales channel segment, on the other hand, would manifest the fastest CAGR of 9.8% from 2022 to 2031, due to the rapid growth of online and mobile user customer bases in developing economies.

The heart rate monitor segment to manifest the highest CAGR-

Based on type, the heart rate monitor segment would manifest the fastest CAGR of 9.8% from 2022 to 2031. This is because heart rate monitors help identify whether your workout is burning fat or carbs as heart rates Faster times indicate burning of carbohydrates and a decrease in heart rate. rates indicate fat burning. This helps users to develop cardiovascular exercise routines depending on their preferences and training goals. The Others segment simultaneously held nearly a quarter of the global fitness accessories market revenue in 2021 and is expected to lead the way through 2031.

Asia Pacific won the biggest share in 2021-

Based on the region, Asia Pacific held the largest share in 2021, generating more than two-fifths of the global gym accessories market. The same region would also achieve the fastest CAGR of 6.2% by 2031. Rapid urbanization in developing economies, rising youth population and rising disposable income per capita should drive the adoption of fitness accessories in the region.

For purchase inquiry at https://www.alliedmarketresearch.com/purchase-enquiry/17316

Major industry players –

  • fitness torque

  • Health and Fitness Center

  • Naitilus, Inc.

  • Peloton Interactive

  • antasports

  • Lifefitness

  • Aerofit

  • Being strong

  • sfhealth

  • Health and wellness icon

  • Jerafitness

  • proforma

  • Techno gym SpA

  • Fitness World AS

  • Rogue Fitness

The Hammer Sport AG report analyzes these key players in the global fitness accessories market. These players have incorporated various strategies like expansion, new product launch, partnerships and others to increase their market penetration and strengthen their position in the sector. The report is useful for evaluating operating segments, their business performance and product portfolio, and so on.

Avenida Library Subscription | Request a free 14-day trial before you buy: https://www.alliedmarketresearch.com/avenue/trial/starter

Get more information: https://www.alliedmarketresearch.com/library-access

Similar reports:

About Us:

Allied Market Research (AMR) is a full-service market research and business consultancy from Allied Analytics LLP based in Portland, Oregon. Allied Market Research offers global companies as well as small and medium-sized companies unparalleled quality of “Market Research Reports” and “Business Intelligence Solutions”. AMR has a focused vision to provide business insights and consulting to help its clients make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services in 11 industry sectors, including Life Sciences, Consumer Goods, Materials and Chemicals, Construction and Manufacturing, Food and Beverage, Energy and Energy, Semiconductor and Electronics, Automotive and Transportation, ICT and Media, Aerospace and Defense and BFSI.

We have professional corporate relationships with various companies and this helps us to discover market data which helps us to generate accurate research data tables and confirm the utmost accuracy in our market forecasts. Each and every one of the data presented in the reports published by us is extracted through primary interviews with senior officials of the main companies in the domain in question. Our secondary data acquisition methodology includes in-depth online and offline research and discussion with experienced industry professionals and analysts.

Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll free: 1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (punish): +91-20-66346060
Fax: +1-855-550-5975
[email protected]
Web: https://www.alliedmarketresearch.com
Follow us on: LinkedIn | twitter

Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg

spin-off

spin-off

See original content: https://www.prnewswire.com/news-releases/gym-accessories-market-to-reach-12-01-bn-globally-by-2031-at-6-2-cagr-allied – market research-301596828.html

SOURCE Allied market research

Leave a Reply