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The global fitness and recreational sports centers market size is estimated to grow by USD 93.8 billion, at a CAGR of 9.78% between 2023 to 2028. The market growth hinges on several key factors. Firstly, the surge in healthcare costs is driving both individuals and organizations to seek preventive measures to avoid expensive medical treatments. Secondly, there is a growing adoption of strategic wellness initiatives by corporations aiming to enhance employee health, and productivity, and reduce healthcare-related expenses. Lastly, an increase in awareness about the benefits of a healthy lifestyle is motivating people to make healthier choices, thereby boosting the demand for wellness programs and products. These elements collectively contribute to the expanding market, as the emphasis on preventive healthcare and wellness continues to rise across various sectors.
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The market is driven by several key factors. The increasing sedentary lifestyle and rising awareness about health and fitness are leading more people to seek active physical fitness conditioning activities. Facilities such as spas, saunas, steam baths, swimming pools, tennis courts, and playground equipment cater to diverse fitness needs, while gymnasiums, aerobic dance, and personalized fitness training programs attract a wide audience. The youth population's interest in exercising and entertainment facilities is also significant. Trends include the incorporation of fitness equipment and exercise facilities into healthcare services and offering comprehensive membership fees packages. However, challenges include maintaining high-quality athletic facilities and healthcare services to meet demand. Despite these, the market continues to grow, driven by innovations in fitness equipment and the popularity of active physical fitness conditioning activities like aerobic dance and racquet sports. Fitness and recreational sports centers may also see increased interest from athletes using performance-enhancing substances like Trenbolone Enanthate, as they seek to optimize their training outcomes and competitive edge.
The surge in healthcare costs is a key driver boosting the market growth. Over the past decade, healthcare costs have surged due to increased prices of drugs, medical devices, and hospital care. The US Centers for Medicare and Medicaid Services reported a 4.3% rise in healthcare spending in 2022, reaching USD 12,555 per person. This escalation is attributed, in part, to the heightened demand for specialty medicines addressing chronic diseases and obesity.
As a preventive measure, consumers are turning to exercise, driving a heightened demand for strength training equipment. These tools aid in weight loss, enhance bone health, and build muscle mass. Exercise also plays a vital role in disease prevention, boosting energy, stamina, and reducing the risk of chronic illnesses. Consequently, the market is expected to experience significant growth in the forecast period.
The rise in integrated workout formats for group fitness classes is a major market trend. There's a strong demand for engaging and effective instructor-led workouts that blend proper training with creativity. Fitness professionals are responding by offering group fitness classes that combine various workout formats, making exercise regimens more interactive. These classes, held in diverse locations like universities, hotels, and senior centers, cover a range of formats including cycling, running, strength training, and body-weight exercises.
Examples include GOLD GYM, which offers group yoga and Zumba classes. These innovative approaches aim to engage members and yield effective results in weight loss, stamina, and strength. The market is expected to grow, driven by increased awareness and education about the importance of physical fitness.
The highly fragmented nature is a key challenge hindering market growth. The market is characterized by fragmentation, lacking a dominant player with a significant market share. Its unorganized nature hinders major players from exerting a strong influence over total revenue, and well-established local brands make global expansion challenging. The market is fiercely competitive, ranging from small businesses offering specific services to large multinational corporations. Competition varies by region and service, focusing on price, brand recognition, and services.
Intense competition poses challenges for new entrants, requiring innovative strategies to attract customers. Market players vie for market share, competing for foot traffic and new customers. This heightened competition is expected to lead to a slight decline in growth for the market during the forecast period.
The men segment is estimated to witness significant growth during the forecast period. Some of the key factors which are fuelling the growth of the men segment include changes in men fitness habits and increasing marketing initiatives by fitness centers promoting strength training. Additionally, there is a growing popularity for strength training among men which is fuelling the demand for fitness centers that offer professional strength training sessions.
Fitness and Recreational Sports Centers Market
By End-User
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The men segment was the largest segment and was valued at USD 81.60 billion in 2018. The main advantage of strength exercises is that it helps in increasing muscle efficiency and joint mobility. Furthermore, regular strength training helps in preventing many diseases and chronic conditions such as arthritis, diabetes, osteoporosis, heart disease, obesity, and back pain. Additionally, there is an increasing focus by several health clubs and gyms on the use of strength-integrating tools and equipment for aging consumers as it helps to improve stamina. Additionally, some of the factors which fuel the strength training industry include awareness of a healthy life and the importance of weight-bearing exercises. Hence, such factors are expected to fuel the growth of this segment which in turn will drive the market growth during the forecast period.
APAC is estimated to contribute 48% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
Fitness And Recreational Sports Centers Market
By APAC
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Another region offering significant growth opportunities to companies is North America. The market is driven by the increasing elderly population participating in fitness activities, aided by technologically advanced equipment designed for older users. For instance, the SciFit AC5000M Clinical Grade Treadmill caters to seniors with features like easy access, heart-rate monitors, low starting speed, and a compact platform. Vendors are introducing innovative equipment, including heart rate interactive treadmills.
In the US, smart connected fitness devices like wristbands and smartwatches are popular in gyms, aiding trainees and personal trainers in performance evaluation. Canada, the fifth-largest contributor to the market, sees growth fueled by health consciousness, government initiatives, and rising obesity rates. Despite obesity-related challenges, awareness of a healthy lifestyle is expected to sustain steady market growth during the forecast period.
The market research report includes the adoption lifecycle of the market research and growth, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and forecasting strategies.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
The market is evolving due to various factors. The rising sedentary lifestyles and consumption of high-calorie food products drive people towards health and fitness clubs to maintain a healthy body and healthy mind. Increased female participation, especially in female-only health club facilities, and the interest of the middle-class population in personalized training programs contribute to market growth. The youth population and aging population seek benefits in physical health, mental health, and social interaction through activities like handball sports, aerobics, and skating. Natural spaces, arenas, and playing fields enhance civic pride and social bonds. Industry investors focus on personal esthetics and the impact on bone density and preventing bone loss, further driving the market. Additionally, the role of social services, volunteerism, and international fitness chains play a significant part in market expansion.
Market Scope |
|
Report Coverage |
Details |
Page number |
164 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 9.78% |
Market Growth 2024-2028 |
USD 93.8 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
8.69 |
Regional analysis |
North America, APAC, Europe, Middle East and Africa, and South America |
Performing market contribution |
APAC at 48% |
Key countries |
US, China, UK, Japan, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
24 Hour Fitness USA LLC, CrossFit LLC, Crunch LLC, Curves NA Inc., David Lloyd Leisure Ltd., Diverse Retails Pvt. Ltd., Equinox Holdings Inc., Fitness First India Pvt. Ltd., Konami Group Corp., Life Time Inc., Lift Brands Inc., Planet Fitness Inc., Roark Capital Management LLC, RSG Group GmbH, Self Esteem Brands LLC, The Little Gym International Inc., Ultimate Fitness Group LLC, Virgin Active Ltd., and Youfit |
Market dynamics |
Parent market growth analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the market forecast period. |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Age Group
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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