Athletic Tape Market Size, Share, Growth, and Industry Analysis by Type (Roll Tape and Pre-cut Bandage) By Application (Pharmacy and Drugstore, Online Shop, Sports Franchised Store, Hospital, Physiotherapy and Chiropractic, and Others), Regional Forecast To 2031

Updated On: 01 April 2024

Athletic Tape Market REPORT OVERVIEW

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The global athletic tape market size was USD 498.9 million in 2021 and is projected to touch USD 1205.42 million by 2031, exhibiting a CAGR of 9.2% during the forecast period.

The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

The fact that athletes from all over the world use athletic tapes while competing in big international competitions has raised interest in them. Athletic tape is typically used to treat injuries to the hands, shoulders, back, and feet. Athletic tapes have a far higher degree of flexibility and may be worn for longer periods before needing to be reapplied. One of the major reasons anticipated to drive the growth of the global market for sports tapes is the increase in athletics, aerobics, and increased awareness of how to treat physiological illnesses. When doing an athletic activity, bones and muscles can be kept in a stable posture by athletic taping, which involves placing tape directly on the skin. It is a method that involves tape that is adhered to the skin to maintain the physical alignment of bones or muscles. This eases discomfort and speeds up healing. Taping is typically employed to aid in the healing of overuse injuries and other wounds.

Athletic taping has several general purposes, including limiting the motion of an injured joint, compressing soft tissues to reduce swelling, supporting injured anatomical structures, acting as a splint or holding one in place, holding dressings or bandages in place, protecting the injured joint from further injury, and protecting the injured part while it is healing. The business for sports tapes will continue to grow as a result of the rise in physical discomfort brought on by minor sports injuries. Additionally, these sports cassettes assist in easing senior pain, which tends to increase customer demand for sports tapes. The market for sports tapes is increasing as a result of some of the most recent products offered by major suppliers, such as ornamental tapes or butterfly designs.

COVID-19 Impact: Decline in Sports and Athletic Tournaments Hampered Market Growth

The COVID-19 outbreak has had a profound effect on the global sports and sports equipment industry, directly impacting athletic tape demand worldwide. Cancellation of various major as well as minor sports tournaments and events due to lockdown restrictions impacted the market growth. While demand dropped, manufacturers also faced other roadblocks such as supply chain hurdles, raw material shortages, and workforce shortages. The aforementioned factors negatively impacted athletic tape market growth amid the COVID-19 pandemic.                                                                                                                                                         

LATEST TRENDS

"Sales Through Third-Party Channels to Boost Market Growth"

The sale of sports tapes through online third-party channels has been a recent trend as several major producers are partnering with numerous online portals to target every customer. Sporting goods stores continue to be the favored sales channel for end users, despite athletic tapes being offered via contemporary trade channels, e-commerce, direct-to-customer channels, and even pharmacy stores. The sports goods industry's continued wide selection of reasonably priced and visually beautiful athletic tapes remains a major demand driver. To reach consumers in the last mile, several top manufacturers have partnered with e-commerce portals to sell athletic tape through third-party online channels, which is a trend that is only expected to expand.

Athletic Tape Market Segmentations

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• By Type Analysis

As per the type, the market is classified as follows: Roll Tape and Pre-cut Bandage. The roll tape segment holds the majority of the athletic tape market share.

• By Application Analysis

Based on application, the market is segmented as follows: Pharmacy and Drugstore, Online Shop, Sports Franchised Store, Hospital, Physiotherapy and Chiropractic, and Others. Pharmacy and drugstores are leading the segment in the market.

DRIVING FACTORS

"Need to Reduce Sports Related Accidents to Promote Industry Progress"

One of the key reasons propelling the expansion of the athletic tape market is the rise in the incidence of muscular soreness among the populace as a result of minor sports-related accidents throughout the world. Because pre-cut tapes are already cut and pre-shaped and because they are widely available in a variety of sizes and lengths, there is a rise in demand for them. Athletic tapes are becoming more and more popular and in demand for uses including injury treatment and prevention. This accelerates the expansion of the athletic tape market. Because athletic tapes are so good at treating both acute and chronic pain, especially the kind that results from burns, where the intensity of the pain frequently exceeds the seriousness of the damage, they have become increasingly popular.

"Utilization of Athletic Tapes by Sportspeople to Facilitate Market Development"

 Another important element boosting the growth of the athletic tape market globally is the use of athletic tapes for preserving posture and balance while participating in a sport. Without restricting movement, athletic tape provides support and flexibility to the muscles and joints. Sports tapes aid in pain relief and elevate the skin microscopically to promote blood flow. The skin's microscopic elevation also enables the formation of convolutions, an increase in interstitial space, and a reduction in muscle inflammation. According to a study that was published in Sports Medicine, the athletic tape may only help improve strength and range of motion

RESTRAINING FACTORS

"Difficulties in Getting Patents to Hinder Market Growth"

There are several challenges impeding the athletic tape market growth including strict laws and regulations governing patient rights, a lack of knowledge in emerging nations, a scarcity of expensive raw materials, and others. The requirement to obtain patent rights to make athletic tape have been one of the major challenges the worldwide market for sports tapes has had to overcome. As a result, many new manufacturers have been unable to enter the market, which has hampered its growth.

Athletic Tape Market REGIONAL INSIGHTS

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"Increase Number of Athletes to Propel Market Progress in North America"

North America is anticipated to be one of the largest markets for sports tapes, which helps fuel the athletic tapes market share. This is mostly due to the accessibility of the best quality products or remedies, a robust health care system, and significant investment in product research. The market for first aid supplies is expanding, notably in north American nations, which also provide low-cost manufacturing, which boosts sales of bandages and painkillers in addition to sports tapes and other equipment.

KEY MARKET PLAYERS

"Market Players Focus on New Product Launches to Strengthen Market Position"

Leading players in the market are adopting various strategies to expand their presence in the market. These include R&D investments and the launch of new, technologically-advanced products in the market. Some companies are also adopting strategies such as partnerships, mergers, and acquisitions to strengthen their market position.   

List of Market Players Profiled

• Kinesio Taping (U.S.)
• 3M (U.S.)
• SpiderTech (Canada)
• KT TAPE (U.S.)
• Johnson & Johnson (U.S.)
• RockTape (U.S.)
• Jaybird & Mais (U.S.)
• Mueller (U.S.)
• StrengthTape (U.S.)
• Atex Medical (U.S.)
• Towatek Korea (South Korea)
• K-active (Germany)
• Healixon (U.S.)
• LP Support (India)
• TERA Medical (U.S.)
• Kindmax (Germany)
• DL Medical&Health (China)
• Socko (U.S.)
• Medsport (U.S.)
• GSPMED (China)

REPORT COVERAGE

The report covers overall market aspects, including the market segmentation based on its type and application. The report depicts a diverse group of participants that includes the market and the potential market leaders. Major factors that are expected to drive major growth in the market. The factors anticipated to expand the market share are also included in the report to offer market insights. The estimated growth of the market in the forecast period is also included in the report. The regional analysis is completed to explain the region's dominance in the global market. The factors hindering the growth of the market are discussed in detail. The SWOT analysis of the market is depicted in the report. It contains all-inclusive market details.