Market Overview:
Athletic tape is used widely in sports and fitness activities to support, wrap and protect injuries. It is an elastic adhesive tape commonly used by athletes, physical therapists and trainers to prevent injuries by supporting ankles, wrists, knees and other joints. The different types of athletic tapes available includes zinc oxide tape, latex-free tape and kinesiology tape. These tapes are designed to provide support, relief from pain and prevent muscle strains.
Market Dynamics:
Two major drivers aiding the growth of athletic tape market is rising participation in sports and fitness activities and increasing incidences of sports injuries. With increasing focus on health and fitness globally, participation in sports and recreational activities has grown significantly over the years. This has increased the demand for athletic tapes for injury prevention among both professional and amateur athletes. Additionally, higher risk of sports injuries due to intense training, rigorous practices and competitive games has further fueled the need for athletic tapes in treating wounds and providing support to injured muscles and joints.
The global Athletic Tape Market Demand is estimated to be valued at US$ 631.1 Mn in 2023 and is expected to exhibit a CAGR of 8.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Segment Analysis
The athletic tape market can be segmented into kinesiology tape, rigid tape, and soft athletic tape. The kinesiology tape segment currently dominates the market due to its ability to treat musculoskeletal conditions like muscle strains, sprains, and joint pains by restoring the body’s natural muscle alignment and support. The stretchy quality of kinesiology tape allows it to adhere directly to the skin providing support without restricting movement.
PEST Analysis
Political: Trade relations between countries can impact the supply chain and costs of raw materials for athletic tape manufacturers.
Economic: A rise in participation levels in sports and fitness activities along with the trend of preventive health management drives demand for athletic tapes and leads to market growth.
Social: Fitness and wellness have become integral parts of lifestyle and social image motivates people to adopt supporting products like athletic tapes for their daily fitness regimes.
Technological: Advancements in materials allow manufacturers to develop tapes that are thin, flexible, non-irritant to skin, and long-lasting to provide optimized support during sports and performance activities.
Key Takeaways
The global athletic tape market is expected to witness high growth, exhibiting CAGR of 8.6% over the forecast period, due to increasing sports culture and preventive healthcare trend among consumers globally. North America currently dominates the market accounting for around 40% share due to substantial sports leagues and active lifestyle of consumers in the region. Increased participation in sports and physical activities has propelled demand for supporting products like athletic tapes for injury prevention and management.
The global athletic tape market size for 2023 is estimated at US$ 631.1 Mn. Regional analysis indicates Asia Pacific is the fastest growing market projected to witness a CAGR of 10% owing to rising health and fitness consciousness among young population in countries like India and China.
Key players operating in the athletic tape market are Johnson & Johnson, Mueller Sports Medicine, 3M Company, KT Tape, Medco Athletics, Nitto Denko Corporation, Andover Healthcare Inc., Medline Industries, Inc., Jaybird & Mais, SpiderTech. The players focus on new product launches catering to specific sporting applications to gain increased market share.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
