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The Global Fitness and Recreational Sports Centers Market size is estimated to grow by USD 88.61 billion accelerating at a CAGR of 9.97% between 2023 and 2027.
Our report offers in-depth analysis of market drivers, trends, opportunities, challenges, and restraints, with segmentation by End-user (men and women), Age Group (35 and younger, 35-54, and 55 and older), and Geography (North America, APAC, Europe, Middle East and Africa, and South America). Additionally, Technavio provides valuable insights through value chain analysis, parent market analysis, Porter’s Five analysis, vendor analysis, and COVID-19 impact data. The report also includes a thorough analysis of historical market data from 2017 to 2022.
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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 global fitness and recreational sports centers market is expected to experience significant growth in the forecast period.
The rise in integrated workout formats for group fitness classes is a major fitness And recreational sports centers 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 global fitness and recreational sports centers 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 the market growth. The global fitness and recreational sports centers market is characterized by fragmentation, lacking a dominant player with significant market share. Its unorganized nature hinders major players from exerting 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 global fitness and recreational sports centers 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 77.71 billion in 2017. 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 40% 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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The global fitness and recreational sports centers 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 WHO declared the COVID-19 outbreak a global pandemic in early 2020, leading to widespread lockdowns imposed by governments. For instance, in March 2020, then-US President Donald Trump declared a national emergency, restricting movement to emergency medical services only. This resulted in the closure of gyms and sports centers, impacting regional market growth. By early 2021, declining COVID-19 cases and vaccination efforts prompted governments to ease restrictions, reopening recreational facilities. The pandemic has increased awareness of health and fitness, positively influencing the fitness and recreational sports centers market in the region during the forecast period.
The market research report includes the adoption lifecycle of the market, 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 growth strategies.
The fitness and recreational sports centers market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
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Fitness And Recreational Sports Centers Market Scope |
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Report Coverage |
Details |
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Page number |
155 |
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Base year |
2022 |
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Historic period |
2018 - 2022 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 9.97% |
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Market growth 2023-2027 |
USD 88.61 billion |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
8.25 |
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Regional analysis |
North America, APAC, Europe, Middle East and Africa, and South America |
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Performing market contribution |
APAC at 40% |
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Key countries |
US, China, Japan, UK, and Germany |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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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., RSG Group GmbH, Self Esteem Brands LLC, The Gym Group plc, The Little Gym International Inc., Ultimate Fitness Group LLC, Virgin Active Ltd., and Youfit |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our 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 Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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