The Gym Accessories Market Size was valued at $6.5 billion in 2020, and is estimated to reach $12.0 billion by 2031, registering a CAGR of 6.2% from 2022 to 2031.
Increase in prevalence of obesity and rise in health consciousness majorly boost the growth of the global gym accessories market. Furthermore, surge in number of gym memberships, rise in sale of in-home equipment, upsurge in urban population, and increase in government initiatives to promote healthy life fuel the adoption of fitness equipment. However, high price of fitness equipment hampers the market growth. On the contrary, improvement in lifestyle, increase in youth population, and rise in per-capita income in the developing countries are the factors anticipated to provide lucrative opportunities for the market growth. Increase in penetration of various online portals in the developing regions and rise in number of offers or discounts attract consumers to purchase gym accessories through online channels. Moreover, online sales channel increased the consumer reach owing to which it has evolved as a key source of revenue for many companies. Furthermore, the online sales market is expected to expand in the near future due to rapid growth in online and mobile user customer bases in the emerging markets. Increase in e-commerce sales, improvements in logistics services, ease in payment options, and the facility to enter in new international markets for major brands further augment the growth of the gym accessories market.
The adoption of at-home fitness equipment is expected to increase in the coming years. Sedentary lifestyle and hectic schedules have led to the adoption of at-home fitness equipment. Exercising at home using fitness equipment saves gym membership expenses, which acts as a key driving force of the global market. Furthermore, leading players in the industry are coming up with innovative solutions. For instance, Life Fitness, one of the players operating in the market, offers F3 folding treadmill to home consumers with wireless telemetry heart rate monitoring and convenience of minimal storage space. Therefore boosting the gym accessories market in the process.
The gym accessories market is segmented into type, end user, distribution channel, and region. By type, the gym accessories market is classified into abs straps, belts, wrist wraps, heart rate monitor, blood pressure monitor, exercise balls, and others. Depending on end user, the market is categorized into home, apartment, health club/gym, hotel, corporate office, and public institution, hospitals & medical center. According to distribution channel used for gym accessory sales, the market is segmented into online and offline channels.. Region-wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, Italy, Spain, Russia and rest of Europe), Asia-Pacific (China, India, Japan, Australia & New Zealand, South Korea, ASEAN and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, Turkey, South Africa, and rest of LAMEA).
Europe leads in terms of market share, however, Asia-Pacific is anticipated to grow with highest CAGR during the forecast period. Upsurge in disposable income, increase in health consciousness, and rise in number of obese population in Europe are expected to augment the adoption of exercising and good food habits. Moreover, alarming surge has been witnessed in the incidence of lifestyle diseases such as obesity, diabetes, heart disease, hypertension, and other bone diseases. Rise in awareness among people about longterm consequences of such diseases has encouraged people to stay fit by working out regularly. Furthermore, rapid urbanization in developing economies of Asia-Pacific, increase in youth population, and rise in per capita disposable income are expected to propel the adoption of at-home fitness equipment in the region.
According to the market players, the major obstacle attributed to the pandemic was the disruption of the supply chain. Furthermore, all the Distribution Channel s were nearly shut down in the first quarter of the pandemic. However, online channels such as amazon and flipkart were delivering the products. The key players included in the market analysis are Icon Health & Fitness, Torque Fitness, Core Health & Fitness, Naitilus, Inc, Techno gym S.p.A, Peloton Interactive, Antasports, Lifefitness, Aerofit, beingstrong, sfhealth, jeraifitness, Proform, Fitness World AS, Hammer Sport AG, and Rogue Fitness.
Increase in prevalence of obesity and rise in health consciousness majorly boost the growth of the global gym accessories market. Furthermore, surge in number of gym memberships, rise in sale of in-home equipment, upsurge in urban population, and increase in government initiatives to promote healthy life fuel the adoption of fitness equipment. However, high price of fitness equipment hampers the market growth. On the contrary, improvement in lifestyle, increase in youth population, and rise in per-capita income in the developing countries are the factors anticipated to provide lucrative opportunities for the market growth. Increase in penetration of various online portals in the developing regions and rise in number of offers or discounts attract consumers to purchase gym accessories through online channels. Moreover, online sales channel increased the consumer reach owing to which it has evolved as a key source of revenue for many companies. Furthermore, the online sales market is expected to expand in the near future due to rapid growth in online and mobile user customer bases in the emerging markets. Increase in e-commerce sales, improvements in logistics services, ease in payment options, and the facility to enter in new international markets for major brands further augment the growth of the gym accessories market.
The adoption of at-home fitness equipment is expected to increase in the coming years. Sedentary lifestyle and hectic schedules have led to the adoption of at-home fitness equipment. Exercising at home using fitness equipment saves gym membership expenses, which acts as a key driving force of the global market. Furthermore, leading players in the industry are coming up with innovative solutions. For instance, Life Fitness, one of the players operating in the market, offers F3 folding treadmill to home consumers with wireless telemetry heart rate monitoring and convenience of minimal storage space. Therefore boosting the gym accessories market in the process.
The gym accessories market is segmented into type, end user, distribution channel, and region. By type, the gym accessories market is classified into abs straps, belts, wrist wraps, heart rate monitor, blood pressure monitor, exercise balls, and others. Depending on end user, the market is categorized into home, apartment, health club/gym, hotel, corporate office, and public institution, hospitals & medical center. According to distribution channel used for gym accessory sales, the market is segmented into online and offline channels.. Region-wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, Italy, Spain, Russia and rest of Europe), Asia-Pacific (China, India, Japan, Australia & New Zealand, South Korea, ASEAN and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, Turkey, South Africa, and rest of LAMEA).
Europe leads in terms of market share, however, Asia-Pacific is anticipated to grow with highest CAGR during the forecast period. Upsurge in disposable income, increase in health consciousness, and rise in number of obese population in Europe are expected to augment the adoption of exercising and good food habits. Moreover, alarming surge has been witnessed in the incidence of lifestyle diseases such as obesity, diabetes, heart disease, hypertension, and other bone diseases. Rise in awareness among people about longterm consequences of such diseases has encouraged people to stay fit by working out regularly. Furthermore, rapid urbanization in developing economies of Asia-Pacific, increase in youth population, and rise in per capita disposable income are expected to propel the adoption of at-home fitness equipment in the region.
According to the market players, the major obstacle attributed to the pandemic was the disruption of the supply chain. Furthermore, all the Distribution Channel s were nearly shut down in the first quarter of the pandemic. However, online channels such as amazon and flipkart were delivering the products. The key players included in the market analysis are Icon Health & Fitness, Torque Fitness, Core Health & Fitness, Naitilus, Inc, Techno gym S.p.A, Peloton Interactive, Antasports, Lifefitness, Aerofit, beingstrong, sfhealth, jeraifitness, Proform, Fitness World AS, Hammer Sport AG, and Rogue Fitness.
KEY BENEFITS FOR STAKEHOLDERS
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the gym accessories market analysis from 2021 to 2031 to identify the prevailing gym accessories market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the gym accessories market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global gym accessories market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By End User
- Home
- Apartment
- Health Club/Gym
- Hotel
- Corporate Office
- Public Institution, Hospitals Medical Center
By Distribution Channel
- Supermarkets and Hypermarkets
- Specialty Stores
- Online Sales Channels
- Brand outlets
By Type
- Ab Straps
- Belts
- Wrist Wraps
- Heart Rate Monitor
- Blood Pressure Monitor
- Exercise Balls
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- Italy
- France
- Spain
- Russia
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Singapore
- New Zealand
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Argentina
- South Africa
- Saudi Arabia
- UAE
- Rest of LAMEA
Key Market Players
- Anta.cn
- Body - Solid, Inc
- Concept2, Inc
- Core Health & Fitness
- Eleiko
- Exigo
- Hammer Sport AG
- Icon Health & Fitness
- Jerai Fitness
- Life Fitness
- Naitilus Inc
- Peloton interactive, Inc
- Rouge Fitness
- SportsArt
- TechnoGym
- Torque Fitness
- Tunturi New Fitness
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: GYM ACCESSORIES MARKET, BY TYPE
CHAPTER 5: GYM ACCESSORIES MARKET, BY END USER
CHAPTER 6: GYM ACCESSORIES MARKET, BY DISTRIBUTION CHANNEL
CHAPTER 7: GYM ACCESSORIES MARKET, BY REGION
CHAPTER 8: COMPANY LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report, 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.Gym accessories include specialized support products that are designed to boost performance during and increase recovery speeds after physical activities like athletics, workouts, or bodybuilding as well as products that are used for refreshments, entertainment and nutrition intake during the workouts. These products are used during physical activity to provide support and maintain proper forms and angles of the body during strenuous physical activities to reduce muscle stress, hyperextensions, and muscle and joint fatigue.
Increase in prevalence of obesity and rise in health consciousness majorly boost the growth of the global gym accessories market. Furthermore, surge in number of gym memberships, rise in sale of in-home equipment, upsurge in urban population, and increase in government initiatives to promote healthy life fuel the adoption of fitness equipment. However, high price of fitness equipment hampers the market growth.
On the contrary, improvement in lifestyle, increase in youth population, and rise in per-capita income in the developing countries are the factors anticipated to provide lucrative opportunities for the market growth. Increase in penetration of various online portals in the developing regions and rise in number of offers or discounts attract consumers to purchase gym accessories through online channels. Moreover, online sales channel increased the consumer reach owing to which it has evolved as a key source of revenue for many companies. Furthermore, the online sales market is expected to expand in the near future due to rapid growth in online and mobile user customer bases in the emerging markets. Increase in e-commerce sales, improvements in logistics services, ease in payment options, and the facility to enter in new international markets for major brands further augment the growth of the gym accessories market.
The number of social media users has increased considerably with rise in internet penetration. Taking this into consideration, most of the key players in the gym accessories market strategize on promoting their products and services on these social media platforms. Social media marketing is one of the major strategies adopted by various companies and industries on imparting awareness about their product offerings among the target customers on social media channels. Thus, through social media marketing strategy, the global gym accessories market sights critical Gym Accessories Market Opportunity in gaining traction and increasing its customer reach among its target segments. However, high price of gym accessories leads to increase in demand of reused fitness equipment, which limits the gym accessories market growth. To reduce cost, new start-up gyms and fitness centers as well as in-house arrangements prefer the use of resale products. This gGym Accessories Market Trends is observed especially in the developing countries where small gyms procure used equipment from large gyms and fitness centers. This results in equipment failure within a short span of time, thereby disappointing their potential members. Moreover, it hampers the sale of new gym accessories, which in turn restrains the growth of the global market.
The gym accessories market is segmented into type, end user, distribution channel, and region. By type, the gym accessories market is classified into abs straps, belts, wrist wraps, heart rate monitor, blood pressure monitor, exercise balls, and others. Depending on end user, the market is categorized into home, apartment, health club/gym, hotel, corporate office, and public institution, hospitals & medical center. According to distribution channel used for gym accessory sales, the market is segmented into online and offline channels. Region-wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, Italy, Spain, Russia and rest of Europe), Asia-Pacific (China, India, Japan, Australia & New Zealand, South Korea, ASEAN and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, Turkey, South Africa, and rest of LAMEA).
According to the Gym Accessories Industry players, the major obstacle attributed to the pandemic was the disruption of the supply chain. Furthermore, all the Distribution Channel s were nearly shut down in the first quarter of the pandemic. However, online channels such as amazon and flipkart were delivering the products. The key players included in the Gym Accessories Market Analysis are Icon Health & Fitness, Torque Fitness, Core Health & Fitness, Naitilus, Inc, Techno gym S.p.A, Peloton Interactive, Antasports, Lifefitness, Aerofit, beingstrong, sfhealth, jeraifitness, Proform, Fitness World AS, Hammer Sport AG, and Rogue Fitness.
Key Findings of the Study
- On the basis of type, belts segment had the major Gym Accessories Market Share and is likely to remain dominant during the gym accessories market forecast period.
- By end user, processed health club/gym dominated the market and is likely to remain dominant during the forecast period.
- By distribution channel, online channel is likely to be the fastest growing segment during the forecast period.
- On the basis of region, Asia-Pacific is likely to be the fastest growing region during the forecast period.
Companies Mentioned
- Anta.Cn
- Body - Solid, Inc
- Concept2, Inc
- Core Health & Fitness
- Eleiko
- Exigo
- Hammer Sport AG
- Icon Health & Fitness
- Jerai Fitness
- Life Fitness
- Naitilus Inc
- Peloton Interactive, Inc
- Rouge Fitness
- Sportsart
- Technogym
- Torque Fitness
- Tunturi New Fitness
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 337 |
| Published | July 2022 |
| Forecast Period | 2020 - 2031 |
| Estimated Market Value ( USD | $ 6.5 billion |
| Forecasted Market Value ( USD | $ 12 billion |
| Compound Annual Growth Rate | 5.7% |
| Regions Covered | Global |
| No. of Companies Mentioned | 17 |
