According to CMi Global Health and Fitness Industry Market Size, Forecast, Analysis & Share Surpass US$ 125.23 Bn By2030
Custom Market Insights
Health and Fitness Industry Market was at US$ 78 Bn in 2021 and is growing to approx US$ 125.23 Bn by 2030, with a CAGR growth of 7.5% between 2022 and 2030.
— Custom Market Insights
AUSTIN, TEXAS, UNITED STATES, March 14, 2023 /EINPresswire.com/ — According to the study, The Global Health and Fitness Industry Market was estimated at USD 78 Billion in 2021 and is anticipated to reach around USD 125.23 Billion by 2030, growing at a CAGR of roughly 7.5% between 2022 and 2030.
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Health and Fitness Industry Market: Overview
GA 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.
Health and Fitness Industry Market: Growth Drivers
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.
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Key Insights:
A) As per the analysis shared by our research analyst, the Health and Fitness Industry market is estimated to grow annually at a CAGR of around 7.5% over the forecast period (2022-2030).
B) In terms of revenue, the Health and Fitness Industry market size was valued at around USD 78 Billion in 2021 and is projected to reach USD 125.23 Billion by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
C) 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 In addition, key factors such as outdated infrastructure, and a lack of skilled and professional trainers are limiting the market growth.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.
D) 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.
E) 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.
Press Release For Health and Fitness Industry Market : https://www.custommarketinsights.com/press-releases/health-and-fitness-club-market-size/
Regional Landscape
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.
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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
The Health and Fitness Industry Market is segmented as follows:
By Service Type
Membership Fees
Total Admission Fees
Personal Training & Instruction Service
Others
By Geography
North America
The USA
Canada
Mexico
Europe
The UK
Germany
France
Italy
Russia
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Malaysia
Philippines
Rest of Asia-pacific
Latin America
Brazil
Rest of Latin America
Middle East and Africa
GCC
North Africa
South Africa
Rest of Middle East & Africa
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