According to Custom Market Insights (CMI), the Global Health and Fitness Club Market size was estimated at USD 78.0 Billion in 2021 and is expected to hit around USD 125.23 Billion by 2030, poised to grow at a compound annual growth rate (CAGR) of 7.5% from 2022 to 2030.
A health and fitness club is a physical space where fitness freak people invest and spend money to meet their health benefits. It includes exercise equipment, machinery, a trainer, and among other fitness stuff. These clubs are organized with workout areas, functional and circuit training, yoga & meditation, indoor running tracks, and others. The young generation and millennials are more conscious regarding their physical, mental, and spiritual health, due to which the health and fitness club market is growing at a rapid pace.
Browse the full “Health and Fitness Club Market Size, Trends and Insights By Service Type (Membership Fees, Total Admission Fees, Personal Training & Instruction Service, Others), and By Region – Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2022–2030” report at https://www.custommarketinsights.com/report/health-and-fitness-club-market/
Market Dynamics.
Drivers.
Growing market trends regarding healthy lifestyle
Increasing consumption of sugar, and other fast food in turn leads to an increase in the number of Obese people, and most often people, are being diagnosed with high blood pressure, diabetes, and many other diseases. These factors will attract millennials to join fitness clubs, gyms, and other ongoing health-related activities. This is anticipated to increase the overall demand for the health and fitness club market during the forecast period.
Restraints.
High production cost
Owing to high production and installation cost is expected to hamper the health and fitness club market. In addition, key factors such as outdated infrastructure, and a lack of skilled and professional trainers are limiting the market growth. These factors are anticipated to dampen the market in the upcoming years.
Opportunities.
Growing physiotherapist and orthopaedics department
Furthermore, the rise in cases of orthopaedics department has driven the physiotherapist, which in turn leads to a rise in the health and fitness club market in upcoming years. Moreover, several physicians opt for health and fitness clubs due to their quick monitoring and health benefits. In response to this, the growing awareness related to good health and the rapid shift in the healthy lifestyle has increased the consumer purchasing power in fitness equipment. These factors are anticipated to enhance the overall demand for the health and fitness club market during the forecast period; thus, offering the most lucrative opportunities.
Challenges.
Preferences for E-health trends
Over the forecast period, the health and fitness club will hamper its growth rate due to increased dependency on self-operated eHealth platforms, and government initiatives for promoting digital health programs are the potential restraints impeding the overall growth of the health and fitness club market.
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Report Highlights.
Depending upon the service type, the health and fitness club is segmented membership fees, total admission fees, personal training & instruction service, and others.
The membership fees segment dominated the market in 2021 and is expected to grow over the forecast period with a total share of 16.87%. This is attributed to the fact that the latest launch of attractive fitness equipment has captured the overall market share and will escalate the demand for health and fitness clubs during the forecast period.
Regional Snapshots.
Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. North America is the dominant health and fitness club market region, with a total share of 28.67%. Rising awareness about healthy lifestyles will likely boost the market during the forecast period. An increase in well-established fitness clubs in the U.S. has increased the potential sales of the market. Moreover, the number of adults aged between 20 and 64 years, which is the largest gym-going demographic, has increased, spurring demand for gym memberships in the recent past in the United States. As a result, many baby boomers are expected to sign up for health club memberships as they become more health-conscious with age.
Most multipurpose health/fitness facilities offer a wide variety of speciality exercise services, equipment, and programs designed to encourage people of all ages and fitness levels to participate in regular exercise. Such initiatives are driving the health and fitness club market in the United States. Some examples are LA Fitness Irvine and Life Time Fitness Chanhassen. In addition, the U.S. has witnessed high growth in the gym and equipment field. For instance, according to an article published by IBIS World in July 2022, the gym, health & fitness clubs industry is expected to grow by $32.0 bn in 2022. These factors are projected to enhance the overall demand for the health and fitness club market in the North American region.
Key Players
- Planet Fitness Inc.
- Crunch Fitness
- UFC GYM
- Two Sports International Holdings Inc.
- Gold’s Gym International Inc.
- Equinox Holdings Inc.
- The Bay Club Company
- Self Esteen Brands LLC
- LTF Holdings Inc.
- Goodlife Fitness.
- Others
Table of Contents: https://www.custommarketinsights.com/report/health-and-fitness-club-market/#table-of-contents
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