Global Health And Fitness Club Market Set For 9.3% Growth, Reaching $144.82 Billion By 2028
Health And Fitness Club Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033
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How Has the Health and Fitness Club Market Grown and What Can Be Expected in the Coming Years?
The recent past has seen the health and fitness club market size grow robustly. Figures suggest a leap from $92.90 billion in 2023 to $101.46 billion in 2024 - a compound annual growth rate CAGR of an impressive 9.2%. This historical growth comes on the back of factors such as the increasing incorporation of job roles, the offer of benefits in apartment complexes, rapid urbanization, government initiatives for physical fitness, and the rising popularity of group fitness classes.
Peering into the future, the health and fitness club market size is set to expand exponentially. By 2028, it is forecasted to reach a whopping $144.82 billion in value with a CAGR of 9.3%. A shift towards preventive healthcare, a growing number of fitness franchises, personalized fitness programs and training plans, corporate wellness programs, and a focused community building strategy underpin this forecasted growth. Furthermore, virtual classes, a push towards sustainability, AI-enabled personalized workout recommendations, smart gym equipment, and health and fitness apps are likely to be significant trends in the forecast period.
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What Is Driving The Growth of The Health and Fitness Club Market?
The swelling rates of obesity are seen as a key driver propelling the growth of the health and fitness club market. Characterized by an excessive accumulation of body fat, obesity is a medical condition linked to an array of health issues including diabetes, heart disease, and joint problems. Blame for this rising prevalence of obesity largely rests on sedentary lifestyles, poor eating habits, and an increased intake of high-calorie processed foods.
Health and fitness clubs are addressing this issue by offering structured exercise programs, making fitness equipment available, and providing guidance from trained professionals. This encourages regular physical activity and healthier lifestyle habits, leading to weight loss and improved overall health. For instance, a rise in obesity figures among adults in England was seen between 2020-2022 25.2% to 25.9%, as per the UK’s Office for Health Improvement and Disparities. This rise underscores why the battle against obesity is so critical to the growth of the health and fitness club market.
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Who Are the Key Players in the Health and Fitness Club Market?
The health and fitness club market is replete with major companies such as Equinox Holdings Inc., 24 Hour Fitness Inc., Life Time Fitness Inc., LA Fitness, Anytime Fitness LLC, Gold's Gym International Inc., New York Sports Clubs NYSC, Planet Fitness, Virgin Active Ltd., InShape Health Clubs LLC, and David Lloyd Clubs among others. These industry behemoths are advancing the sector with innovative offerings and competitive strategies.
What Are the Emerging Industry Trends?
Industry leaders are focusing on developing advanced digital fitness solutions, such as personalized coaching applications apps, to sharpen their competitive edge and pull in more customers. Personalized coaching apps are digital platforms that offer tailored guidance and recommendations based on users' data and fitness goals. For example, US-based Anytime Fitness launched its AF Smart Coaching technology and AF App in April 2023. This innovation provides round-the-clock personalized fitness, nutrition, and recovery coaching, accessible from anywhere. Borne from real-time data and tailored guidance, the AF Smart Coaching technology enables coaches to craft customized health and fitness plans, with predictive analytics to tweak the programs as members progress.
How Is The Health and Fitness Club Market Segmented?
The health and fitness club market has an extensive segmentation:
1 By Facility: Aerobic Classes, Yoga Classes, Swimming Pool, Gym Equipment, and Other Facilities
2 By Membership Type: Monthly, Annually
3 By Trainer Type: Personal Training, Group Training, Self-Training
4 By End User: Men, Women
Which Regions Are Dominating The Health and Fitness Club Market?
In 2023, North America reigned as the largest region in the health and fitness club market. However, the forecast period is expected to see the Asia-Pacific region as the fastest-growing market. The regional analysis for the health and fitness club market also covers Western Europe, Eastern Europe, South America, the Middle East, and Africa.
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