by Athletic tape is a flexible material that is used for supporting muscles, joints, soft tissues, bandaging wounds, and general injury prevention. Athletic tape products such as kinesiology tape, medical tape, elastic therapeutic tape, and prewrapped athletic tape aid in injury prevention, pain mitigation, blood flow support, and faster recovery. Growing sports culture and adoption of fitness activities have increased the awareness about sports injuries, strains, sprains, and other such ailments among athletes and those who regularly work out. Sports medicine experts recommend taping muscles before strenuous physical activities to offer support and prevent injuries. Growing number of sports tournaments, camps, and organized fitness programs are promoting injury-preventing practices including proper taping, thereby driving the demand for athletic tape.
The global Athletic Tape Market 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.
Market key trends:
Kinesiology or muscle tape is one of the key trends gaining prominence in the athletic tape market. Kinesiology tape is specially designed tape that can be stretched up to 120-140% of its original length. When applied to the skin, it provides support to muscles and joints without restricting the movements. Unlike rigid taping methods, kinesiology taping supports muscles without constricting blood circulation. It is becoming increasingly popular among athletes and fitness enthusiasts for preventing injuries in running, basketball, football, and other high-impact sports. Manufacturers are focusing on innovating kinesiology tape varieties for specific muscle groups and injury conditions. Strong demand for this type of flexible and breathable tape variant is expected to propel the athletic tape market revenues over the forecast period.
Porter’s Analysis
Threat of new entrants: Low, as athletic tape market is already dominated by key players with strong brand presence. requires high initial costs.
Bargaining power of buyers: Moderate, as buyers have very less switching costs and can choose products from various brands offering athletic tapes.
Bargaining power of suppliers: Low, as raw materials required for athletic tapes are easily available and market is served by large number of suppliers globally.
Threat of new substitutes: Low, as no direct substitutes are available for athletic tapes in terms of application and benefits provided.
Competitive rivalry: High, as market is dominated by top players like Johnson & Johnson, 3M Company, and Mueller Sports Medicine. Players compete based on product quality, features, and pricing.
Key Takeaways
The Global Athletic Tape Market Size is expected to witness high growth. North America is the largest market for athletic tape currently due to high sports culture and participation. Growth in Asia Pacific region is projected to be fastest due to rising healthcare infrastructure and focus on fitness.
Regional analysis: North America region dominates athletic tape market led by US and Canada on account of higher participation in sports and fitness activities. Asia Pacific region is expected to witness fastest growth during forecast period with China, India and Japan being major countries. Growth opportunities lie in countries like Brazil and Middle Eastern countries.
Key players: 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. Players compete on product quality and expanding business operations in high growth regions.
