Balance Bike Market to Exhibit Steady Growth Owing to Rising Popularity of Outdoor Activities among Children
The balance bike market offers children a fun and engaging way to learn balancing, coordination and cycling skills without pedals. Balance bikes help instill confidence in children as young as 18 months old. The key advantages of balance bikes include their durability and suitability for different terrains such as grass, pavement, beaches and even snow. Balance bikes allows kids to remain active outdoors and learn important skills through play. The global balance bike market is estimated to be valued at US$ 1,570.7 Mn in 2024 and is expected to exhibit a CAGR of 6.8% over the forecast period 2024 to 2031.
The growing popularity of outdoor recreational activities among kids is driving Balance Bikes Market Demand Balance biking helps young children exercise outdoors and aids in their physical and mental development. Rising awareness about benefits of physical activity from a young age and desire of parents to encourage active play in children is propelling the balance bike market growth.
The current geopolitical situation is impacting the growth of the balance bike market. Rising tensions between major economies like the US, China and Russia are causing disruptions in the global supply chains. Raw material prices are increasing due to shortages resulting from restrictions in trade between warring nations. This is negatively impacting balance bike manufacturers who are facing higher production costs. Some companies are even shifting their manufacturing facilities to alternative low cost regions to avoid logistical issues in sourcing supplies from sanctioned countries.
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