Recreational Oxygen Equipment - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029

Recreational Oxygen Equipment - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029

The recreational oxygen equipment market is poised to grow at a CAGR of 14.52% over the forecast period.

COVID-19 had a significant impact on the recreational oxygen equipment market. For instance, according to an article published by Elsevier in July 2022, every element of sports was affected, from athletes and club sponsorships to media coverage during the COVID-19 pandemic. Gradually, with COVID-19 having spread across the globe, the Olympic and Paralympic Games in Tokyo were also postponed to 2021. This led to reduced requirements of recreational oxygen for energy or recovery. However, as COVID-19 cases declined and the restrictions were lifted, the pandemic accelerated the sports events, generating demand for recreational oxygen.

Factors such as youth's preference towards sports activities and the rising stress and pollution levels are expected to drive market growth. For instance, according to the United States Environmental Protection Agency update in March 2023, emissions of air pollutants continue to play an important role in a number of air quality issues. In 2022, about 66 million tons of pollution were emitted into the atmosphere in the United States. Air pollution is a major cause of lower levels of optimal oxygen worldwide. Hence, this is likely to lead to an increase in the requirement for recreational oxygen equipment.

Besides, the benefits of recreational oxygen, such as higher energy and vitality, faster muscle recovery, and better athletic performance, are projected to boost the market growth. Besides, recreational oxygen also helps in reducing stress and easing jet lag. Hence, it is used by athletes, actors, singers, and business people to ease the jet lag. Furthermore, the people's preference for different types of sports is also likely to contribute to the market growth. For instance, as per the survey published in March 2022, football is popular in the United States, and Japan prefers baseball. Moreover, the survey results on people's physical activities in Korea, Japan, and the USA represented the varying sports preferences in each nation. A closer look reveals that walking (40.8%), mountain climbing (23.2%), and fitness (11.9%) are popular activities in Korea. Data from Japan, on the other hand, shows that walking (57.0%), fitness (12.9%), and gymnastics (12.4%) are preferred by most people. Additionally, the USA favors outdoor sports (59.2%), fitness sports (66.0%), and individual sports (45.3%). Hence, the huge preference towards different sports & fitness activities is likely to create demand for recreational oxygen, thereby boosting the market growth.

Additionally, with increased stress, the optimal oxygen level decreases, which is further likely to create demand for recreational oxygen equipment. For instance, according to the Workplace Health Report published in June 2022, various professionals are impacted by stress at their workplace in the United Kingdom. It stated that 1 in 14 UK adults (7%) feel stressed daily. Around 76% of employees reported moderate-to-high or high stress levels in 2023. This number has increased from 67% in 2022 to 76% in 2023, reflecting a percentage increase of 13%. With such a high-stress level, the demand for recreational oxygen equipment is likely to increase, thereby driving market growth.

Thus, factors such as high preference for sport activities among people, stress level in working professional, and advantages associated with recreational oxygen is projected to contribute to the market growth. However, regular restrictions and misuse of the equipment are expected to impede market growth over the forecast period.

Recreational Oxygen Equipment Market Trends

Oxygen Bar Segment is Expected to Show a Significant Growth Over the Forecast Period.

Oxygen Bar is an establishment where customers pay to inhale pure oxygen to combat the effects of air pollution, boost performance, and promote relaxation. The increasing deterioration of air quality encourages a preference for oxygen bars. For instance, according to the Air Quality and Pollution city ranking, as of May 2023, out of the top 40 most polluted cities in the world, 20 are from Asia-Pacific. Apart from that, high levels of air pollution are recorded in China, Japan, and India. This creates an opportunity for oxygen bars, which is expected to drive market growth.

The favorable government support is also propelling the growth of the market segment. For instance, in March 2023, the China Meteorological Service Association and the local government sponsored the "China Natural Oxygen Bar" homestay promotion plan to build natural oxygen bars and is supported by the "Special Fund for the Realisation of Climate Ecological Value". The activity aims to upgrade the business format of oxygen bar homestays, empower rural revitalization, and promote high-quality development of the green economy.

Thus, factors such as increasing deterioration of air quality encourage, and strategic development is expected to boost the segment growth over the forecast period.

North America is likely to Show a Significant Market Growth Over the Forecast Period

North America holds a significant share of the recreational oxygen equipment market due to the increasing air pollution and advanced research and development (R&D) facilities leading to the development of technologically advanced devices. For instance, according to the State of the Air 2022 report, more than 40% of Americans, over 137 million Americans, live in places with failing grades for unhealthy levels of particle pollution or ozone. Furthermore, 2.1 million more people were breathing unhealthy air in 2022 compared to 2021. Nearly 9 million more people in the year 2022 were impacted by daily spikes in deadly particle pollution than in 2021. Hence, the increased air pollution is expected to increase the need for recreational oxygen, further augmenting the market growth during the forecast period.

Furthermore, increased sports activity and participation are expected to drive the market growth. For instance, according to the Sports & Fitness Industry Association report published in 2023, in the United States, more than 76% of all Americans, or 236.9 million people, participated in at least one sports activity during the year 2022. Further, the United States saw a 1.9% increase in total sports participation rates in 2021. Thus, with increased sports activity, the demand for recreational oxygen increases, driving market growth.

Therefore, due to factors such as increasing air pollution and increased sports participation, North America is predicted to grow over the forecast period.

Recreational Oxygen Equipment Industry Overview

The recreational oxygen equipment market is fragmented in nature due to the presence of companies operating globally and regionally. The competitive landscape includes an analysis of a few international and local companies that hold market shares and are well-known, including Boost Oxygen LLC, Oxygen Plus Inc., Vitality Air, and Pilots HQ LLC, among others.

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