Growing concerns about obesity and related health issues, particularly among millennials and Gen Z, are leading the Health and Fitness Club Market globally. The report goes beyond trends to analyze market drivers, challenges, and opportunities. It empowers strategic decisions with investment analysis and insightful frameworks. Read the exclusive summary by downloading it to deep dive into market insights.
NEWARK, Del., March 22, 2024 /PRNewswire/ — According to Future Market Insights reports, the health and fitness club market is envisioned to reach US$ 302 billion by 2034, growing from $124.7 billion in 2024. The market is set to grow at a CAGR of 9.2% through 2034. The rise of boutique fitness studios, increasing awareness about health concerns, and the corporatization of jobs are benchmarks in driving the growth of the fitness market.
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One of the key trends in the fitness industry is the growing demand for boutique fitness centers, which cater to individuals seeking a curated workout experience and are willing to pay a premium price for it. This trend is particularly popular among millennials and Gen-Z, who are increasingly focused on maintaining a healthy lifestyle and staying active. Rise of social media and influencer culture has also contributed to this trend, making fitness a more attractive lifestyle choice.
Moreover, the modern way of life is characterized by long working hours, leading to many people’s sedentary lifestyle. As a result, there is a growing focus on corporate well-being programs and employee wellness initiatives, contributing to the overall demand for fitness clubs.
However, the market is not without its challenges. Limited accessibility of fitness clubs in areas with no proper transportation facilities and high membership fees can discourage potential clients from joining. A shortage of skilled fitness trainers and instructors can lead to poor quality of service, which can upset clients and deter them from achieving their fitness goals.
“Rise of virtual fitness and connected equipment is expected to drive innovation and enhance the customer experience, while the increasing focus on corporate wellness programs and employee well-being is expected to further boost demand for fitness clubs”, says Ronak Shah (Associate Vice President at Future Market Insights).
Key Takeaways from the Market Study
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With a 9.0% CAGR, personal training is skyrocketing in the health and fitness club market through 2034.
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Age groups between 20 and 40 years are drawing the market statistics with an 8.8% CAGR for 2024 to 2034.
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The health and fitness club market in South Korea has the potential to increase at a CAGR of 11.1% through 2034.
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The health and fitness club market in Japan is projected to inflate at a CAGR of 10.9% through 2034.
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The health and fitness club market in the United Kingdom is predicted to rise by a remarkable 10.3% CAGR through 2034.
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The health and fitness club market in China is anticipated to develop at a CAGR of 9.9% through 2034.
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The health and fitness club market in the United States is estimated to rise at a whopping 9.6% CAGR through 2034.
Competitive Landscape
Major companies and brands in the health and fitness club market are investing heavily in technology to enhance the customer experience and drive growth. Major companies are adopting artificial intelligence (AI) and machine learning (ML) to personalize customer workout plans and provide personalized nutrition guidance. Digital platforms and mobile apps are being developed to track customer progress and provide real-time feedback. Companies such as Planet Fitness, Crunch Fitness, and Anytime Fitness are expanding their footprint in the market by opening new locations and offering affordable plans to attract a wider consumer base.
Recent Developments
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In February 2024, Pompey Health and Fitness Club experienced a membership surge after a £3m renovation project led by Portsmouth FC’s management. The upgrades included new facilities like a steam room, sauna, and fitness studios.
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Keepme partnered with Empowered Brands in March 2024. Empowered Brands is a UK fitness franchising player with 18 years of experience, and its portfolio includes énergie Fitness and UBX.
Purchase now and gain full access to the Health and Fitness Club Industry report, featuring comprehensive Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives.
About the Author:
Ronak Shah (Associate Vice President at Future Market Insights) is deeply committed to uncovering actionable insights for consumer and food and beverage players. She brings a unique blend of analysis, industry trends, and consumer behavior to put data into perspective.
What she makes out of data becomes a delight to read. She has authored many opinions, including for publications like Process Industry Informer and Spinal Surgery News, as she understands the market pulse and consumers’ shifting preferences.
She likes to bring experts to a roundtable to weigh the impact of a trend on an industry. Catch up with her discussion on the impact of AI in packaging.
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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading market intelligence and consulting service provider, serving clients in over 150 countries. FMI is headquartered in Dubai and has delivery centers in the UK, the U.S., and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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