The global fitness industry is expected to register steady growth over the forecast period 2019-2025. The increasing emphasis among people on being healthy and strong rather than just shedding pounds, growing obesity rate, and a significant increase in the number of health clubs are augmenting the market growth of the fitness industry. Moreover, growing health awareness is also shifting people’s mindset from junk food to healthy foods and nutrition including supplements, which is also driving the business growth of the fitness industry. Further, gyms offering cost-effective services and companies tapping into untouched areas such as offering online classes and training sessions are also attracting a large pool of customers; thereby, fueling the market growth. 

The report analyzes the global fitness market on the basis of business type and geography. Based on the business type, the market is segmented into equipment manufacturers, health clubs, and supplement manufacturers. Health clubs are expected to have a severe impact on their operations due to the COVID-19 outbreak. Governments of several nations have announced nationwide partial or full lockdown which forced the fitness companies to close their gym outlets across the globe. This caused a heavy blow to several market players such as Equinox, Gold’s Gym, Orangetheory, among others. In March 2020, Equinox closed its health clubs in New York, New Jersey, and Connecticut. Further, Gold’s Gym and Orangetheory have closed all their corporate-owned locations.

The global fitness market is analyzed on the basis of the geographical regions that are contributing significantly towards the growth of the market. The market has been segmented into North America, Europe, Asia Pacific and Rest of the World (RoW). Europe is expected to be the major region in the global fitness market owing to the significant presence of health clubs and gyms in countries such as France, Germany, Spain, and Italy. According to the International Health, Racquet & Sportsclub Association (IHRSA), Europe has the largest number of health clubs followed by Latin America. However, in terms of revenue generation, Europe is estimated to be a dominating region followed by North America. Further, Asia-Pacific is expected to be the fastest-growing region in the global fitness market due to the growing health awareness coupled with the rising disposable income. 

Additionally, the industry is influenced by the presence of several players operating in the global industry. Some of the key market players of the industry include 24 Hour Fitness, Anytime Fitness, ClubCorp, Equinox Group, Konami Sports & Fitness, LA Fitness International LLC, Life Time, Inc., Planet Fitness, Virgin Active, and others. The industry is fragmented in nature, and players operating in the industry face tough competition with each other. Therefore, in order to stay competitive, these players adopt various strategies including mergers and acquisitions, product launches, geographical expansion, and others.

Research Methodology

The study on the Fitness industry is incorporated by extensive primary and secondary research conducted by the research team. In secondary research, different approaches have been adopted to derive the market value, market growth rate, and analyze trends in the industry due to the COVID-19 pandemic. In the report, the analysis of the country is provided by analyzing various regional players, laws & policies, consumer behavior, macro-economic factors, and impact of the pandemic. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures. 

Sources Include

• Financial reports of companies involved in the market
• Whitepapers, research-papers, and news blogs
• Company websites and their product catalog
• Government Organizations Reports

The report provides an in-depth analysis on market size, intended quality of the service preferred by consumers. The report will serve as a source for 360-degree analysis of the market thoroughly integrating different models.

The Report Covers

• Comprehensive research methodology of the global Fitness industry.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the global Fitness Industry.
• Insights about market determinants that are stimulating the global Fitness industry.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.