Rising prevalence of obesity and skyrocketing health consciousness are significantly driving the growth of the global gym accessories market.

PORTLAND, Oregon., August 1, 2022 /PRNewswire/ — Allied Market Research has released a report titled, gym accessories market by type (abdominal straps, belts, wrist guards, heart rate monitor, blood pressure monitor, exercise balls, others), by end user (house, apartment, health club/gym, hotel, corporate office, public institution , hospitals and medical center), by distribution channel (supermarkets and hypermarkets, specialty stores, online sales channels, branded outlets): analysis of global opportunities and industry forecast, 2021-2031.’ According to the report, the global gym accessories industry was estimated to $6.51 billion in 2021, and should reach $12.01 billion by 2031, registering a CAGR of 6.2% from 2022 to 2031. The report offers an explicit analysis of changing market trends, major segments, major investment pockets, value chain, of the competitive scenario and the regional landscape.

Drivers, constraints and opportunities –

Rising prevalence of obesity and skyrocketing health consciousness are significantly driving the growth of the global gym accessories market. In addition, the increase in the number of gym memberships, the growing sale of home equipment, the increase in the urban population and the emergence of several government initiatives to promote healthy living are fueling the adoption. of fitness equipment, thus further complementing the growth of the market. On the other hand, the high price of fitness equipment is holding back growth to some extent. However, improving lifestyle, increasing youth population and rising per capita income in developing countries are the major factors that are expected to create lucrative opportunities in the industry.

Covid-19 scenario-

  • Disruptions related to reduced production capacity, human resources and transportation have had a significant negative impact on the global gym accessories market.
  • The scarcity of raw materials, on the other hand, gave way to an increase in prices and encouraged the use of alternative products, which further aggravated the situation.
  • Strict restrictions on closing gyms in majority of countries have completely reduced the demand for gym accessories. However, the market almost recovered slowly and steadily.

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Health Club/Gym Segment Will Dominate by 2031-

By end-user, the health club/gym segment contributed nearly two-fifths of the global gym accessories market share in 2021 and is expected to lead by 2031, owing to the increase in the number of health clubs and gyms across the world. world. The corporate office segment, on the other hand, is expected to show the fastest CAGR of 9.3% from 2022 to 2031. Indeed, several companies have set up fitness centers and offer fitness programs. fitness to improve employee health and increase productivity. .

The specialty store segment to retain the lion’s share

Based on the distribution channel, the specialty stores segment generated nearly two-fifths of the global gym accessories market revenue in 2021 and is expected to lead the way by 2031. Specialty sports stores can serve as venues for gathering for enthusiasts, especially if the owners host special events and product demonstrations, which indirectly promote the product that is recently introduced or already exists in the market. Employees of specialized sports stores know the different gym accessories available and provide information to their customers for a better understanding of the properties and the use of gym accessories effectively. Such features of specialty sports stores attract customers, thereby contributing to the growth of the gym accessories market. The online sales channel segment, on the other hand, would show the fastest CAGR of 9.8% from 2022 to 2031, owing to the rapid growth of online and mobile customer bases in developing economies.

The segment of the heart rate monitor to manifest the highest CAGR-

Based on type, the heart rate monitor segment would exhibit the fastest CAGR of 9.8% from 2022 to 2031. This is because heart rate monitors help determine whether the workout is burning fat or carbs, because faster heart rates indicate carbohydrate burning and a lower heart. the rates indicate fat burning. This helps users develop cardiovascular training routines based on their training preferences and goals. The others segment, simultaneously, held almost a quarter of the global gym accessories market revenue in 2021 and is expected to take the lead by 2031.

Asia Pacific collected most of it in 2021-

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

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Key Industry Players-

  • Couple suitability
  • Core Health and Fitness
  • Nautilus, Inc.
  • Interactive Platoon
  • Antasports
  • lifefitness
  • Aerofit
  • To be strong
  • Sfhealth
  • Health and fitness icon
  • jerafitness
  • Form
  • Technogym SpA
  • AS Fitness World
  • Thug Fitness

Hammer Sport AG’s report analyzes these key players in the global gym accessories market. These players have incorporated various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in evaluating the operating segments, their business performance and product portfolio, etc.

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