The latest market report published by Credence Research, Inc. “Global Athletic Tape Market: Growth, Future Prospects, and Competitive Analysis, 2016 – 2028. The global Athletic Tape market is anticipated to grow at a substantial CAGR of 8.70% in the upcoming years. The global Athletic Tape industry was estimated to be worth USD 0.55 billion in 2022 and was expected to be worth USD 0.98 billion by 2030.
Athletic Tape Market Key Growth Trends have been showing a significant increase over the past few years. The global market for athletic tapes is expected to reach new heights due to its growing popularity among athletes and fitness enthusiasts worldwide. Some of the key growth trends that are driving this market include an increasing number of sports-related injuries, rising awareness about the benefits of taping, and advancements in tape technology. Additionally, there has been a surge in demand for kinesiology tapes as they offer several advantages such as improved flexibility and better skin breathability.
Segments Performance:
In 2022, the Kinesiology Tape segment accounted for the major market share, driven by increased muscle soreness from sports activities, minor accidents, and the aging population.
The 2-inch – 4-inch tape width segment held a heightened share in the market in 2022, as these tapes are effective for various ailments and injuries.
The Roll segment accounted for the largest market share in 2022, attributed to its affordability and high demand.
Regional Dominance:
Europe dominated the athletic tape market in 2022, with a market share of nearly 32%. The region has a large population engaged in sports and fitness activities, leading to a higher incidence of sports-related injuries.
The United States is anticipated to dominate the North American market, driven by the presence of key players, a high frequency of accidents, and the prevalence of muscular pains and spasms.
Impact of the Economy:
The COVID-19 pandemic has significantly impacted the athletic tape market, with a decrease in demand due to the reduction in sports and physical activities. The pandemic has also posed challenges in production and distribution due to disruptions in the supply chain.
Competitive Landscape:
Major players in the market, such as Kinesio Holding Corporation, Nucap Industries Inc., KT Tape Polska Sp, and others, are focusing on increasing product visibility through partnerships with events and competitions.
Recent investments by companies like Mueller Sports Medicine and SpiderTech indicate the growing interest and funding in the athletic tape market, supporting the development of new products and technologies.
Key Market Drivers:
The growing popularity of professional and Olympic-level sports globally has increased interest in sports activities, resulting in a higher demand for athletic tape.
Rising awareness about sports injuries and the need for injury prevention and rehabilitation are driving the market growth.
The increasing number of sports-related injuries worldwide, including knee injuries, muscle swelling, sprains, and strains, is propelling the demand for athletic tapes.
Major Challenges:
Lack of awareness in developing countries and the high cost of raw materials are some of the obstacles to market expansion.
Obtaining patent rights for athletic tapes is a significant challenge, restricting the entry of new manufacturers into the market.
Why to Buy This Report-
- The report provides a qualitative as well as quantitative analysis of the global Athletic Tape Market by segments, current trends, drivers, restraints, opportunities, challenges, and market dynamics with the historical period from 2016-2020, the base year- 2021, and the projection period 2022-2028.
- The report includes information on the competitive landscape, such as how the market’s top competitors operate at the global, regional, and country levels.
- In-depth analysis of the global market segmentation on the Component and Deployment
- Major nations in each region with their import/export statistics
- The global Athletic Tape Market report also includes the analysis of the market at a global, regional, and country-level along with key market trends, major players analysis, market growth strategies, and key application areas.
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