The global sports and leisure products market, valued at $300.29 billion in 2020, is anticipated to reach $481.93 billion by 2027, according to recent business research. This growth, at a compound annual rate of 7.0%, underscores the substantial potential within the industry.
This surge is largely attributed to the global COVID-19 pandemic and the resultant heightened awareness of health and fitness among individuals worldwide. The pandemic, which emerged at the end of 2019, claimed millions of lives and underscored the critical importance of maintaining good health, thereby driving demand for sports and health-related products.
Sports products have emerged as a market with significant potential. However, it is dominated by major brands, covering a range of products from sportswear to various types of sports equipment. To gain a competitive edge in this saturated market, innovation and the introduction of new products become crucial.
Recent observations from the Paris Olympics indicate that products like cotton kinesiology tape and sports tape show considerable promise. These products, designed for sports protection, were prominently featured during the event.
Sports tape and kinesiology tape serve distinct purposes. Sports tape, known for its lack of elasticity and robust support, is primarily used for joint protection. On the other hand, kinesiology tape offers great elasticity and is used mainly to alleviate muscle pain.
For companies currently facing stagnation, exploring the sports tape market could offer new opportunities for growth and innovation. Engaging with a sports tape manufacturer could potentially provide the necessary impetus to overcome current challenges and capitalize on this growing market.
