According to a new report published by Allied Market Research, titled, “Gym Accessories Market,” The Gym Accessories Market Size was valued at $6.51 billion in 2021, and is estimated to reach $12.01 billion by 2031, growing at a CAGR of 6.2% from 2022 to 2031.
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Consumer awareness of fitness, health, and gym activities has significantly increased in recent years. The number of persons engaging in such activities and choosing them as careers has increased as a result of this rise in awareness. The different sections of the body need support and strength, which are offered by various types of gym accessories, in order to function and produce their best during such demanding activities.
The majority of gym accessories on the market are designed to support customers and uphold good technique and posture in order to prevent strains, exhaustion, and damage. This aids in extending the amount of time that the customer can engage in physical activity and in simplifying some challenging workouts. Additionally, using such goods helps the body retain more energy by adequately supporting the body’s vital areas, such the wrists, back, and arms, so that less energy is used during weightlifting or exercise.
Additionally, using gadgets like heart rate and blood pressure monitors can help users gain more endurance and fine-tune their training routines based on their cardiovascular health and whether they want to build muscle or lose weight. Additionally, supplemental equipment like towels, mats, sippers, mp3 players, and fitness monitors enhance the effectiveness of workouts and the overall experience in the gym.
The rise in the popularity of working out and going to the gym, along with improved awareness of how to utilise these products, has led to an increase in the use of gym accessories among casual customers. In addition, the proliferation of specialty stores selling these products, along with the simple accessibility of these products through internet sellers, have made it very simple for customers to buy them, which is fostering the expansion of the industry.
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The health club/gym segment to dominate by 2031-
By end-user, the health club/gym segment contributed to nearly two-fifths of the global gym accessories market share in 2021, and is expected to lead the trail by 2031, due to increase in the number of health clubs and gyms across the world. The corporate office segment, on the other hand, is expected to exhibit the fastest CAGR of 9.3% from 2022 to 2031. This is because several corporate organizations have set up fitness centers and offer fitness programs to improve the health of employees and increase their 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 gym accessories market revenue in 2021, and is expected to lead the trail by 2031. Specialty sporting stores can serve as gathering places for enthusiasts, particularly if the owners host special events and product demonstrations, which indirectly promotes the product that is introduced newly or already exists in the market. Employees at specialty sporting stores are familiar with different gym accessories available and provide insights to their customers for a better understanding of the properties and usage of gym accessories in an effective manner. Such features of specialty sporting stores entice customers, thus 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 rapid growth in 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 the workout is burning fats or carbohydrates, as faster heart rates indicate burning of carbohydrates and lower heart rates indicate burning of fat. This helps users develop cardiovascular workout routines depending on their preferences and workout goals. The others segment, simultaneously, held nearly one-fourth of the global gym accessories market revenue in 2021, and is expected to lead the trail by 2031.
Asia-Pacific garnered the major share in 2021-
Based on 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 garner the fastest CAGR of 6.2% by 2031. Rapid urbanization in developing economies, increasing youth population, and rising per capita disposable income are expected to propel the adoption of gym accessories in the region.
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Key players in the industry-
- Torque Fitness
- Core Health & Fitness
- Naitilus, Inc
- Peloton Interactive
- Antasports
- Lifefitness
- Aerofit
- Beingstrong
- Sfhealth
- Icon Health & Fitness
- Jeraifitness
- Proform
- Techno gym S.p.A
- Fitness World AS
- Rogue Fitness
- Hammer Sport AG
The 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 assessing the operating segments, their business performance & product portfolio, and so on.
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