The global health and fitness club market size was valued at USD 104.05 billion in 2022 and is expected to be worth USD 112.17 billion in 2023. The market is projected to reach USD 202.78 billion by 2030, recording a CAGR of 8.83% during the forecast period.
Health and fitness clubs are centers equipped with advanced amenities to offer full-body wellness to health-conscious individuals. The demand for these clubs has increased in recent years as they improve their physical health and also offer programs that take care of their mental health. The growing percentage of the fitness-conscious population is one of the key factors that will accelerate market growth.
Fortune Business Insights™ displays this information in a report titled, “Health and Fitness Club Market, 2023-2030.”
Information Source:
https://www.fortunebusinessinsights.com/health-and-fitness-club-market-108652
List of Key Players Profiled in the Health and Fitness Club Market Report:
- 24 Hour Fitness USA, LLC (U.S.)
- Gold’s Gym International, Inc. (U.S.)
- Life Time, Inc. (U.S)
- Planet Fitness Franchising, LLC (U.S)
- CrossFit, LLC (U.S)
- The Bay Club Company (U.S)
- Equinox Group (U.S)
- CRUNCH FITNESS (U.S)
- Basic-Fit (Netherlands)
- SATS Group (Singapore)
Segments:
Preference for Personalized Training to Increase Due to Rising Demand for Personal Attention and Expert Advice
Based on type, the market is segmented into personal training, group training, and self-training. The personal training segment dominates the global health and fitness club market share as more people seek personal attention and expert advice from personal trainers to enhance the results of their workouts.
Individuals Aged 20-40 Years to Increase Service Demand Due to Growing Fitness Consciousness
Based on age group, the market is divided into up to 20 years, between 20 and 40 years, 40 to 55 years, and over 55 years categories. The between 20 and 40 years segment might dominate the market during the forecast period as people in this age category are becoming more health conscious.
With respect to region, the market covers North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
COVID-19 Impact:
Stringent Movement Restrictions Impeded Market Growth During Pandemic
The COVID-19 pandemic negatively impacted the market progress as governments across the world enforced social distancing norms and lockdowns to contain the spread of the virus. This factor compelled health and fitness club owners to shut down their operations. Moreover, many people turned to at-home workouts by accessing exercise videos on online platforms. This scenario impeded market growth during this period.
Report Coverage:
The report has conducted an in-depth study of the market and highlighted various crucial areas, such as leading service types and age groups. It offers key insights into the market’s competitive landscape, recent market trends, and top industry developments. Apart from the abovementioned factors, the report delves into several factors that have bolstered the market’s growth.
Drivers and Restraints:
Growing Health and Fitness Consciousness Among People to Amplify Market Growth
More people are increasing their spending on various wellness programs as there has been a considerable rise in the awareness and importance of maintaining good health among people in recent years. This awareness grew tremendously after the COVID-19 pandemic as having excellent immunity reduced people’s chances of contracting the virus. This factor prompted many people to buy health and fitness club memberships to take better care of their health.
However, high membership costs and a growing inclination toward home workouts may decline the health and fitness market growth.
Regional Insights:
North America to Dominate Global Market Due to Increasing Prevalence of Chronic Diseases
North America dominated the global market in 2022 due to the growing incidence of chronic ailments, such as diabetes and obesity. Many people across the region are going to fitness centers to manage their weight effectively and improve their wellbeing.
Europe was one of the key health and fitness club markets in 2022 due to the growing setup of new health and fitness centers that offer a wide range of training programs and online services.
Competitive Landscape:
Key Market Players to Focus On Offering Online Services to Maintain Dominance
Some of the key companies operating in the global health and fitness club market are increasing their focus on providing online services to reach more customers in remote areas. Since sometimes, people cannot travel to far off places to visit health and fitness centers, companies are offering these online services at nominal costs to cater to their fitness needs.
Key Industry Developments:
- December 2020 – Life Time, a U.S.-based health club chain, announced plans to provide Apple Fitness+ (a subscription service offering access to workout videos on Apple TV, iPad, or iPhone) to its members. Life Time was the first health chain in the U.S. to provide this service. This move would help the company reach more customers by offering its health and fitness services digitally.
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