Health and Fitness Club Market to Hit USD 112.17 Billion by 2030 | Exclusive Report by Fortune Business Insights™
Companies leading in the Health and Fitness Club Market are 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), and more players profiled.
Pune, India, Dec. 15, 2023 (GLOBE NEWSWIRE) -- 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."*
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*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)
*Report Scope & Segmentation:*
*Attributes* *Details*
Forecast Period 2023-2030
Forecast CAGR 8.83%
2030 Value Projection USD 202.78 Billion
Market Size in 2022 USD 104.05 Billion
Historical Data 2019-2021
No. of Pages 182
Report Coverage Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends
Segments Covered · By Type
· By Region
· By Age Group
Regions Covered · North America
· Europe
· Asia Pacific
· Latin America
· Middle East and Africa
Health and Fitness Club Market Growth Drivers Rising Awareness Regarding Health and Fitness to Favor Market Expansion
Increasing Introduction of Amenities across Health and Fitness Clubs to Accelerate Market Growth
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*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 had 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.
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*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.
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*Detailed Table of Contents:*
· *Introduction*
· Research Scope
· Market Segmentation
· Research Methodology
· *Executive Summary*
· *Market Dynamics*
· Market Drivers
· Market Restraints
· Market Opportunities
· *Key Insights*
· Overview of Parent Market
· Supply Chain and Regulatory Analysis
· Industry SWOT Analysis
· Qualitative Analysis (In Relation to COVID-19)
· Impact of COVID-19
· Supply Chain Challenges due to COVID-19
· Potential Opportunities due to COVID-19
· *Global Health and Fitness Club Market Analysis, Insights and Forecast, 2019-2030*
· Key Findings / Summary
· Market Analysis, Insights and Forecast – By Type
· Personal Training
· Group Training
· Self-Training
· Market Analysis, Insights and Forecast – By Age Group
· Up to 20 Years
· Between 20 and 40 Years
· 40 to 55 Years
· Over 55 Years
· Market Analysis, Insights and Forecast – By Region
· North America
· Europe
· Asia Pacific
· South America
· Middle East & Africa
*TOC Continued…!*
*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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