July 24, 2024
Athletic Tape Market

Ankle Tape Is The Largest Segment Driving The Growth Of Athletic Tape Market

Market Overview:
Athletic tape is a type of adhesive tape used as a tool to securely wrap and support soft tissues and joints of the body. It is commonly used by athletes, coaches, and health professionals for protecting muscle strains or supporting joints during athletic activities and training.

Market key trends:
One of the key trends in the athletic tape market is the emergence and growing demand of kinesiology tape. Kinesiology tape is specifically designed tape that can be stretched about 30% to 140% of its original length. When applied correctly on the skin, it creates wrinkles and lifts the skin so that it does not restrict the range of motion of the joint beneath it. This helps to support muscles without restricting normal movement. As kinesiology tape does not alter circulation or nerve sensation beneath the tape, it is replacing conventional athletic tapes in various sports applications.

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.

The athletic tape market is witnessing increased demand due to rising incidences of sports injuries. Athletes across various contact sports widely use athletic tape to prevent injuries, provide support, and improve performance. Innovation in athletic tape products including the incorporation of new materials for improved breathability, comfort, and strength has fueled the market growth. Brand endorsement by celebrity athletes has also enhanced the brand awareness and popularity of premium athletic tapes globally.

SWOT Analysis:
Strength: Athletic tapes are cost-effective, easily available, and provide quick relief. They are regarded as the first line of defense against common sports injuries.
Weakness: Some athletic tapes may cause skin irritation in sensitive individuals. Lower-quality tapes may not offer adequate support.
Opportunity: Growing participation in sports and fitness activities creates potential opportunities. Demand can be increased by product endorsement from professional players.
Threats: Stiff competition from emerging local players. Alternative injury prevention methods may also affect market demand.

Key Takeaways:
The global athletic tape market is expected to witness high growth, exhibiting a CAGR of 8.6% over the forecast period, due to the increasing popularity of various contact sports and growing health and fitness consciousness. North America currently holds the largest share in the athletic tape market owing to high sporting activities in the region. Some of the 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.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it