by Athletic tape is widely used for sports injury prevention and management. It is used to support injured muscles, joints, or soft tissues during physical activity or training. Kinesiology tape is specially designed for athletic activities as it is flexible, waterproof and withstands heavy exercise and sweat.
The global Athletic Tape Market is estimated to be valued at US$ 350 million in 2023 and is expected to exhibit a CAGR of 19% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
There is a rising awareness about sports injuries and preventive measures among players as well as coaches. According to the National Athletic Trainers’ Association, each year over 3.5 million athletes suffer sports-related injuries that require medical attention in the United States alone. Athletic tape is effective in preventing ankle, knee, shoulder and muscle injuries. It provides added support to injured joints or muscles without restricting the range of motion. The increased adoption of athletic tape for injury prevention instead of relying solely on rehabilitative options after injury bodes well for the market.
SWOT Analysis
Strength: Athletic tape is lightweight, flexible and stretches on impact which helps in supporting joints, muscles and bones. It is cost effective for small injuries during sports activities.
Weakness: Non-waterproof nature of athletic tape makes it unsuitable for use in wet conditions. Repeated use leads to loss of adhesiveness and need frequent replacement.
Opportunity: Growing participation in sports and fitness activities creates demand for athletic tape. Technological advancements to develop waterproof and reusable athletic tapes present new opportunities.
Threats: Popularity of alternative support options like knee braces, compression sleeves and bandages restrict the tape market growth. Economic downturns impact the discretionary sports spending.
Key Takeaways
The Global Athletic Tape Market Size is expected to witness high growth owing to increasing health awareness and participation in sports and fitness activities.
North America dominates the athletic tape market currently due to high sports culture and availability of state-of-art sports medical facilities in the region. Key players like KT Health, RockTape, SpiderTech and MUHLENFAHR are actively manufacturing premium quality athletic tapes catering to different sports requirements.
Key players operating in the athletic tape market are KT Health, RockTape, SpiderTech, MUHLENFAHR, Kinesio Taping, StrengthTape, Atex Medical, K-active and Nitto Denko. These players are launching innovative sports tapes with specific features for different sports events like basketball, football, wrestling, gymnastics etc. to meet the customized needs of players. Sponsorships of major sports leagues and teams help key players strengthen their brand positioning in the market.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.
