Market Trends of Strength Training Equipment
Strong demand for different types of weights from fitness-conscious consumers
There has been a growing focus on the benefits of strength training and functional fitness, which involves movements and exercises that mimic real-life activities. Consumers are recognizing the importance of building muscle, improving bone density and enhancing overall physical function through resistance training. Weight training has been proven to offer numerous health and wellness benefits, such as improved bone health, muscle strength, metabolic rate, and overall physical function. Weights are widely used in various strength training exercises such as squats, lunges, bicep curls, press exercises, and many others. These exercises can be comfortably done at home using only weights that take up minimal space, thereby making them convenient for consumers to use and store. Consequently, the multifunctionality and space-saving features of different types of weights are propelling its demand among residential consumers.
Moreover, along with being compact and handy, individual weights such as dumbbells and kettlebells are generally priced much lower as compared to heavy home strength training equipment and do not require any installation, which, in turn, increases its demand among various segments of consumers, owing to the affordability of the product. Thus, due to growing demand various new players are entering the market, owing to the evolving requirements for weights across the globe. For instance, in October 2023, Nike entered the weight equipment market with the launch of dumbbells, bumper plates, kettlebells, and other strength training equipment in the United States. Amongst the various weight equipment, the company claims to offer rubber bumper. Furrther, as the awareness and appreciation for the benefits of strength training continue to grow, the demand for weight training equipment is expected to remain strong during the forecast period.
Asia-Pacific is the Fastest Growing Region.
Countries in the Asia-Pacific region, such as China, India, and Southeast Asian nations, have experienced increased consumer awareness towards a healthy lifestyle coupled with increased household expenditure, which allows more consumers to invest in health and fitness-related products, including strength training equipment. Australia, Singapore, Philippines, Hong Kong, Malaysia, Japan, India, and China are some of the popular countries in the region for fitness trends. There has been a growing trend of staying fit over the last few years. More people are getting involved in exercise, particularly strength and muscle training, focusing on their mental fitness, and adapting several technology tools to help them with their routine. Additionally, rising population spending toward a healthy and fit lifestyle can also stimulate market growth in the region. According to the Australian Fitness Academy, annual spending by Australian consumers on Fitness Services and Equipment was around AUD 8.5 billion. Furthermore, the yearly contribution of the fitness industry to the Australian economy is around AUD 3.0 billion.
Furthermore, social media platforms and fitness influencers have played a significant role in inspiring and educating Asian consumers about the benefits of strength training. This has created a strong fitness culture and increased the demand for different types of strength training equipment. For instance, Sahil Khan is one of the leading fitness influencers in India and has more than 11 million followers on Instagram. The rise of social media influencers in the health and fitness industry has had a significant impact on the way people approach their fitness goals, which is indirectly shaping the market for home strength training equipment in the country.
