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Fitness Ball Products Market Size, Share, & Trends Analysis Report (2023 – 2030)
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Report Overview
The global fitness ball products market was valued at USD 3.2 billion in 2022 and is expected to witness a CAGR of 7.3% from 2023 to 2030. This is due to the rising awareness about the benefits associated with using fitness balls in daily exercise routines. The demand for fitness ball products has been increasing due to its versatility and ability to target various muscle groups simultaneously. Fitness ball products are used for strength training and toning the body, which is driving the demand for these products. Furthermore, the rising awareness about the importance of fitness has led to the increasing demand for fitness products, further propelling the growth of the fitness ball products market.
The increasing demand for multifunctional fitness ball products, such as multifunctional exercise ball, is augmenting the market growth. These fitness balls are suitable for performing various exercises and can be used to target different muscle groups. Additionally, these balls come in a variety of sizes and colors, making them suitable for different people. Moreover, these balls are popular among athletes and are used for strength training, toning, and flexibility exercises, which is further driving the market.
The rising trend of home workouts is expected to drive the demand for lightweight fitness ball products. Consumers prefer fitness ball products due to their portability and ease of use. Manufacturers are also focusing on developing innovative fitness balls that are easy to handle and use. For instance, in June 2021, Adidas launched a range of fitness ball products that were designed to be lightweight and durable. In addition, the rising demand for eco-friendly fitness ball products is also driving the market growth. Companies are focusing on the production of these products using eco-friendly materials, such as recycled plastic and organic cotton, to ensure sustainability.
Furthermore, the availability of these products through e-commerce platforms is also driving the market growth. Retailers are focusing on increasing their online presence to target a larger customer base. For instance, in March 2022, Walmart announced the launch of its online store for fitness ball products. Additionally, the rising trend of customizing these products is also driving the market growth. Consumers are demanding custom-made fitness ball products that are tailored to their specific needs. Companies are focusing on meeting these demands by offering customized products. For instance, in April 2021, Fitball Australia launched a range of customizable fitness ball products.
Product Insights
The fitness ball segment accounted for the largest share of the market in 2020. Fitness balls are becoming increasingly popular among people for use in both home and gym settings. The rising demand for fitness equipment, increasing health awareness among individuals, and the growing number of health clubs and fitness centers are some of the key factors driving the growth of the market. According to an article published by The Physio Matters Magazine in 2019, using a fitness ball can improve posture, balance, and core strength.
The yoga ball segment is expected to witness the fastest growth during the forecast period. The increasing popularity of the ball for yoga and meditation is driving the market growth. The growing trend of yoga and meditation centers globally is also boosting the demand for yoga balls. According to an article published by the National Center for Biotechnology Information in 2019, yoga balls are used to assist in postures that require more focus, better balance, and greater flexibility.
Distribution Channel Insights
The fitness ball products market is mainly driven by the increasing availability of fitness ball products across different distribution channels. The supermarkets and hypermarkets segment accounted for the major market share of over 35.7% in 2022. The segment is expected to witness significant growth over the forecast period owing to the presence of large-scale supermarkets and hypermarkets. Supermarkets and hypermarkets offer convenient shopping experiences to customers by providing them with a wide variety of fitness ball products. For instance, in August 2020, Walmart, one of the largest supermarkets and hypermarkets in the US, launched a range of fitness balls and other fitness products.
The online segment is expected to witness the highest CAGR of 12.8% over the forecast period. The growth of the segment is attributed to the increasing internet penetration and growing inclination of customers towards online shopping. E-commerce players such as Amazon and Flipkart are offering a wide range of fitness ball products at competitive prices, which is expected to drive the segment growth. Moreover, the availability of attractive discounts and offers on online platforms is further expected to drive the segment growth.
Type Insights
The weighted fitness ball segment accounted for the largest revenue share of 70.6% in the year 2022. The demand for these balls is increasing due to their ability to provide strength and conditioning benefits, as they can be used in various exercises. Weighted fitness balls offer a higher challenge level as compared to conventional balls, and this is further driving its demand. Manufacturers such as Gaiam, Inc. are launching new products in this segment, which are made up of PVC material and are available in various sizes and weights. This is further increasing the acceptability of these products in the market.
The unweighted fitness ball segment is anticipated to expand at the highest CAGR of 8.3% over the forecast period. The demand for these products is increasing due to their ability to provide flexibility and strength training benefits. This is further driving the demand for these products, as they are lightweight and can be used for various exercises. Additionally, these products are easily available in the market, as they are offered by various key players such as Nike, Inc. and Adidas AG.
Regional Insights
Europe dominated the market and accounted for the largest revenue share of over 32.3% in 2022. This can be attributed to the rising number of health-conscious consumers in the region, as well as the increasing demand from fitness centers. Moreover, increasing awareness among consumers regarding the benefits of using fitness balls for workout, such as improved coordination and balance, is contributing to the growth of the market. For instance, in October 2021, Sissel, a German manufacturer, launched a new range of fitness balls for the European market.
Asia Pacific is expected to witness the highest CAGR between 2021 and 2022. Increasing disposable income, increasing awareness about health and wellness, and rising health consciousness among consumers are the key factors driving the market in the region. Additionally, the presence of a large number of fitness centers and gyms in the region is further expected to drive the market growth. For instance, in January 2021, the U.S. fitness and wellness products manufacturer, Core Balance, opened a new fitness center in India.
Financial Projections
In this section of the fitness ball products business plan we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your fitness ball products business.
Revenue Assumptions
The main source of revenues for a fitness ball products business comes from direct sales, e-commerce, and distributors and wholesalers. Here you will find a list with a description of each of them and other possible sources of profit such as affiliate marketing, networking events, and the sale of merchandise.
Projecting Expenses
In this section, all the regular expenses related to keeping the fitness ball business running will be described. The list of operating expenses includes rent, wages, utilities, insurance policies, advertising, and others. Additionally, you’ll need to factor in manufacturing costs for the balls, packaging, and other materials you will need to create a profitable product.
Key companies & market share insights
Some of the key companies operating in the fitness ball products market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:
– In September 2022, Ball Dynamics International launched the Core Balance Pro, a fitness ball designed to improve core strength and balance.
– In October 2022, ProsourceFit launched the Stability Trainer, a fitness ball designed to target specific muscle groups and improve coordination.
– In November 2022, Gaiam launched the Balance Ball Chair, a fitness ball designed to improve posture and provide ergonomic support.
Some of the prominent players in the fitness ball products market include:
– Ball Dynamics International
– ProsourceFit
– Gaiam
– URBNFit
– Trideer
– DynaPro
– Live Infinitely
– Thrive Fitness
– BalanceFrom
– Yes4All
Global Fitness Ball Market Segmentation
This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global fitness ball products market based on product type, distribution channel, type, and region:
1. Product Type Outlook (Revenue, USD Million, 2017 – 2030)
– Exercise Balls
– Balance Balls
– Stability Balls
– Pilates Balls
– Yoga Balls
– Others
2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)
– Online
– Retail Stores
– Others
3. Type Outlook (Revenue, USD Million, 2017 – 2030)
– Standard
– Specialty
4. Regional Outlook (Revenue, USD Million, 2017 – 2030)
– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa
Frequently Asked Questions
[Q]: What is the Potential of Product Innovation?
[A]: Product innovation in the fitness ball market is driven by the need to improve user experience and performance. Manufacturers are developing new designs and features that enhance the functionality of fitness balls, such as adjustable inflation, ergonomic shapes and sizes, and improved grip. Additionally, manufacturers are investing in research and development to create new materials that provide additional benefits, such as improved impact absorption, durability, and comfort.
[Q]: Who are the Key Players in the Fitness Ball Products Market?
[A]: Key players in the fitness ball products market include Thera Band, Everlast Worldwide, Inc., Reebok International, Gaiam, Power Systems, Inc., and Per4max.
[Q]: Which Region Offers the Largest Opportunity for Sales of Fitness Ball Products?
[A]: North America is expected to dominate the global fitness ball products market, with an absolute dollar opportunity of $2.7 B (USD). This is due to the high prevalence of health and fitness trends, increasing disposable income, and the availability of advanced fitness equipment.
[Q]: What are the factors driving the fitness ball products market?
[A]: Increasing government focus on health and wellness, rising health awareness, growing participation in sports, and the emergence of e-commerce are the key factors driving the global fitness ball products market. Additionally, the increasing popularity of home-based workouts, such as yoga and pilates, is boosting the demand for fitness balls.
Research Methodology
Impact Analytix employs a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. In Addition, a recurring theme prevalent across all our research reports is data triangulation which looks market from three different perspectives. Critical elements of the methodology employed for all our studies include:
Preliminary data mining
Raw market data is obtained and collated on a broad front. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. For a comprehensive understanding of the market, it is essential to understand the complete value chain and in order to facilitate this; we collect data from raw material suppliers, distributors as well as buyers.
Technical issues and trends are obtained from surveys, technical symposia, and trade journals. Technical data is also gathered from an intellectual property perspective, focusing on white space and freedom of movement. Industry dynamics with respect to drivers, restraints, and pricing trends are also gathered. As a result, the material developed contains a wide range of original data that is then further cross-validated and authenticated with published sources.
Statistical model
Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously. These factors are studied on a comparative basis, and their impact over the forecast period is quantified with the help of correlation, regression, and time series analysis. Market forecasting is performed via a combination of economic tools, technological analysis, industry experience, and domain expertise.
Econometric models are generally used for short-term forecasting, while technological market models are used for long-term forecasting. These are based on an amalgamation of the technology landscape, regulatory frameworks, economic outlook, and business principles. A bottom-up approach to market estimation is preferred, with key regional markets analyzed as separate entities and integration of data to obtain global estimates. This is critical for a deep understanding of the industry as well as ensuring minimal errors. Some of the parameters considered for forecasting include:
Market drivers and restraints, along with their current and expected impact
Raw material scenario and supply v/s price trends
Regulatory scenario and expected developments
Current capacity and expected capacity additions up to 2030
We assign weights to these parameters and quantify their market impact using weighted average analysis, to derive an expected market growth rate.
Primary validation
This is the final step in estimating and forecasting our reports. Exhaustive primary interviews are conducted, face to face as well as over the phone to validate our findings and assumptions used to obtain them. Interviewees are approached from leading companies across the value chain including suppliers, technology providers, domain experts, and buyers so as to ensure a holistic and unbiased picture of the market. These interviews are conducted across the globe, with language barriers overcome with the aid of local staff and interpreters. Primary interviews not only help in data validation but also provide critical insights into the market, current business scenario, and future expectations and enhance the quality of our reports. All our estimates and forecast are verified through exhaustive primary research with Key Industry Participants (KIPs) which typically include:
Market-leading companies
Raw material suppliers
Product distributors
Buyers
The key objectives of primary research are as follows:
To validate our data in terms of accuracy and acceptability
To gain an insight into the current market and future expectations
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