Athletic Tape Market – Global Outlook & Forecast 2023-2028

Athletic Tape Market – Global Outlook & Forecast 2023-2028
The global athletic tape market is expected to grow at a CAGR of 8.41% from 2022-2028.
MARKET TRENDS & OPPORTUNITIES

Market players adopt business-driving strategies such as collaborations, partnerships, and others, offering lucrative revenue growth opportunities. The growing partnership among the sports authorities, clubs, franchises, and others are the potential business strategies that offer direct consumers for the vendors without investing in market and networking business strategies. In recent years the partnerships between sports authorities have opened the space for new potential market geographics and demographics.

MARKET DRIVERS
Worldwide Increasing Sport Injuries
Globally, millions of sports injuries are registered every day that require care. Athletic tapes stabilize ankles, solidify the shoulder, and support the knee, opening elbow, and weak and injured muscle. Athletic tapes provide lightweight and external support that helps athletes remain active while recovering from injury. In sport injury types, knee injuries, swollen muscles, and sprains and strains are the major sports injuries that occur worldwide, where athletic tapes are used as a vital part of first aid to deliver emergency care. The increasing worldwide number of sports injuries is one of the leading factors driving the athletic tape market growth. In addition, the continued growth in fitness and sports has increased minor to major injuries that demand injury prevention and management tools. In the US, only overall children who participate in any sport, around 10% of children, get any injury.
Rising Demand for Athletic Tapes in Preserving Posture and Balance
With the growing concern about sports injuries, people are taking preventive measures to avoid or tackle them, where athletic tapes play a vital role. Furthermore, the world is evolving with sports and physical fitness, resulting in minor to major sports injuries. The increasing demand for preventing injury and rehabilitation and chronic pain management required athletic tapes in posture management and balance.
Increasing Athletic Population
Worldwide professional and Olympic-level sports positively influenced the attention towards the sports and have led to an increase in the number of athletes that seem to be faster and stronger compared to the last several decades. More than one billion people worldwide are engaged in some sport, domestic to national. Such factors are projected to positively influences the growth of the athletic tape market during the forecast period.

SEGMENTATION INSIGHTS

INSIGHTS BY FORMAT

The global athletic tape market by format is segmented into roll and pre-cut tape. The roll tapes segment accounted for a higher market share over the pre-cut tapes format segment in 2022. The general purpose of rolling athletic tapes is to restrict the motion of an injured joint and add stability for a temporary period. With the rising burden of sport-associated injuries across the world's athletic population, the demand for athletic tapes is increasing rapidly. Further, pre-cut tapes are becoming popular in recent years. Compared to pre-cut tape, roll tapes have penetrated the market for longer and are well-known for the huge athletic population in various use. Also, roll tape is easier to handle and use and is cost-effective compared to pre-cut tapes.

Segmentation by Format Roll Tape Pre-Cut TapeINSIGHTS BY TYPES

The global athletic tape market by tape is segmented into elastic and non-elastic. In 2022, the elastic athletic tapes segment accounted for the highest industry share. Elastic athletic tapes are self-adhesive back and deliver several benefits. Elastic tapes are easy to apply and offer flexibility, making them easy to use on major muscle areas of the body, such as the hamstring muscle on the back of the leg. Elastic tapes allow better movement and circulation around the injury. Sports injuries during competitions/matches are one of the major burdens experienced by athletes. During matches, elastic stapes rapidly relieve pain and improve body posture. Athletic elastic tapes offer a unique design that athletes can wear on the body during training or competition to protect vulnerable joints, ankles, and knees.

Segmentation by Type Elastic Non-ElasticINSIGHTS BY APPLICATION

The injury prevention application segment accounted for the highest share of over 61% in the global athletic tape market in 2022. In taping methods, traditional taping is one of the common methods used to prevent injury in the athletics sector. Athletic taping is a method that involves using a more rigid athletic tape to keep bones or muscles in a specific position. This taping method is used in areas of the body near joints such as hands, wrists, and ankles. These additional supports can help prevent breaks, sprains, and other injuries from competitive sports and exercise. Globally, athletes use less restrictive tapes to help prevent injuries. Elastic types of athletic tapes are the most used athletic tapes. Further, athletic tape popularity in injury prevention increased after the 2008 Beijing Olympics, as most athletes were seen using and wearing these tapes while competing.

Segmentation by Application Injury Prevention Post Injury Management, Stabilization, & Rehabilitation Chronic Issue & Pain ManagementINSIGHTS BY DISTRIBUTION CHANNELS

The global athletic tape market by distribution channels is segmented into sports stores, sports clubs, franchises, & federations, pharmacies and drugs stores, e-commerce, and supermarkets & hypermarkets & retail stores. In 2022, sports stores, sports clubs, franchises, & federations held a major industry share, accounting for over 39%. Globally, several sporting goods stores are commonly present in urban and semi-urban areas that make sure to fulfill consumer needs. The athletic population most commonly prefers sporting goods stores due to the availability of overall sporting goods in one place with different qualities, quantities, and price ranges. Further, the factors behind the segmental growth are the growing network of sports stores, clubs, franchises, and federations and increasing access to athletic tapes. These are major distribution channels for athletic tapes due to the wide access and direct-to-consumer sale.

Segmentation by Distribution Channels Sports Stores, Sports Clubs, Franchise, & Federations Pharmacies & Drugs Stores E-Commerce Supermarkets & Hypermarkets, & Retail StoresGEOGRAPHICAL ANALYSIS

Europe dominated the global athletic tape market share, accounting for over 32% in 2022. In Europe, huge populations are engaged in sports and fitness, resulting in more sport-associated injuries. European countries, such as Germany, France, the UK, Italy, and others, are witnessed for huge athletic populations, accelerating the higher revenue growth for athletic tapes. In Europe, outdoor sports are majorly played by general and professional sports persons. Football, basketball, baseball. Volleyball, rugby, and some other sports are played by millions of people in the region, which resulted in an increasing number of sports-associated injuries.

Segmentation by Geography EuropeGermanyFranceUKItalySpainRussia North AmericaUSCanada APACChinaIndiaJapanSouth KoreaAustralia Latin AmericaBrazilMexicoArgentina Middle East & AfricaTurkeySouth AfricaSaudi ArabiaVENDOR LANDSCAPE

In the global athletic tape market, the competition among market players is significantly high in pricing strategies, product quality, material, quantity, and associated brand image. Currently, 3M, Mueller Sports Medicine, and Nitto Denko Corporation are three leading market players that dominate the market in terms of market penetration, revenue, distribution channels, geographical presence, & brand image. These industry players compete with rapidly growing players such as KT Tape, Jaybird & Mais, SpiderTech, Johnson & Johnson, and others.

Key Company Profiles 3M Nitto Denko Corporation Mueller Sports Medicine SpiderTechOther Prominent Vendors Cardinal Health Essity Healixon Hangzhou Gspmed Medical Appliances Co. Ltd. Jaybird & Mais KT Tape K-Active LP Supports Suzhou Medsport Products Co., Ltd Performance Health (Cramer Products Inc) Phiten Presidium Athletics LLC HARTMANN USA WUXI BEYON MEDICAL PRODUCT CO., LTD Scapa Group plcKEY QUESTIONS ANSWERED:

1. How big is the athletic tape market?

2. What is the growth rate of the athletic tape market?

3. What are the growing trends in the athletic tape industry?

4. Which region holds the most significant global athletic tape market share?

5. Who are the key players in the global athletic tape market?