Athletic tape is a flexible and stretchable material used for wrapping and binding parts of the body for support during sports and exercise. Made of cotton, elastic or plastic materials, athletic tape helps support joints, muscles and areas prone to injury. It offers advantages like support, stability and prevention of injuries by holding muscles, bones and joints in optimal positions. The global athletic tape market is growing due to the increasing number of sports injuries and rise in participation in sports activities.
The Athletic Tape Market is estimated to be valued at US$ 727.03 Bn in 2024 and is expected to exhibit a 19% CAGR over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the athletic tape market include Yandex.Taxi LLC, Didi Chuxing Technology Co., Be Group JSC, Uber Technologies Inc., ZuumViet, Lyft Inc., FastGo Vietnam JSC, Grab Holdings Inc., ANI Technologies Pvt. Ltd., Free now (Daimler), and BlaBla Car. These companies are focusing on new product launches and collaborations to gain more market share.
The growing for Athletic Tape Market Demand from sports leagues and clubs is driving market growth. Increasing numbers of athletes, sports leagues and events is boosting demand. Usage of athletic tape helps reduces strain on joints, muscles and ligaments during sports ensuring faster recovery and less injuries.
Globally, the athletic tape market is expanding mainly due to growing sports industry, increasing participation in sports events and surging number of sports injuries. Especially in developing regions, demand is rising with growing awareness about health and fitness and growth of sports industry. Major players are focusing on these regions by opening local subsidiaries and distribution centers.
Market Key Trends
One of the key trends gaining traction in the athletic tape market is the availability of kinesiology tapes. Kinesiology tapes are elastic therapeutic tapes used majorly as an alternative treatment method for musculoskeletal pain. Compared to traditional athletic tapes, kinesiology tapes are thinner, stretchier and can be worn for longer durations even under clothing. They work on the basis of lifting the skin away from underlying tissues to provide space for better blood and lymphatic flow. This helps reduce muscle pain and soreness, improve performance and facilitate faster healing. Therefore, the demand for kinesiology tapes in the Athletic Tape Market is increasing.
Porter’s Analysis
Threat of new entrants: High initial investment and economies of scale make entry difficult for new players.
Bargaining power of buyers: Buyers have moderate bargaining power due to the presence of substitutes like bandage or muscle.
Bargaining power of suppliers: Suppliers have low bargaining power due to the availability of raw materials.
Threat of new substitutes: Substitutes like bandage and muscle tape pose low threat due to specific usages of athletic tape.
Competitive rivalry: High competition due to the presence of established players.
Geographical Regions
North America accounts for the largest share in the global athletic tape market owing to the high participation of athletes in various sports. The US holds the leading position due to robust sports infrastructure and high awareness about preventive taping.
Asia Pacific exhibits the fastest growth during the forecast period due to rising health consciousness among people and increasing participation in sports activities. Countries like China, India, and Japan are witnessing remarkable growth in the region supported by rising incomes, growing middle-class population, and popularity of new sports.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. With an MBA in E-commerce, she has an expertise in SEO-optimized content that resonates with industry professionals.