DUBLIN--(BUSINESS WIRE)--Apr 5, 2019--The "Global Health and Fitness Club Market - Segmented by Service Type, and Geography - Growth, Trends and Forecasts (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.
The global health and fitness club market is projected to grow at the rate of 10.6% during the forecast period 2018 to 2023.
Significant growth in sports industry has huge impact on the health and fitness club market. It is also encouraging new regions to adopt fitness as an essential part of their lifestyle. Due to intense competition in the market, key players are trying to distinguish their services offerings by providing a unique value proposition and benefits to survive in the highly competitive environment.
For instance, Gold's Gym offers the opportunity to enroll in term life insurance, which provides coverage starting at USD 10,000, through Lincoln Financial. Health and fitness club market is witnessing development in new and upgraded products, and are likely to focus more on efficiency in customer service, quality, technological innovations, and attractive membership benefits.
Growing Inclination towards Healthy Lifestyle to Drive the Health and Fitness Club Market Growth
Consumers are willing to spend more on health and fitness club with healthy aspects is playing key role to drive the market growth across the globe. The rising number of health clubs and gym with personal training and latest fitness equipment is attracting consumers to join the health and fitness clubs which will continue to influence the market growth in upcoming years.
Growing popularity of yoga, aerobic dance, and swimming among consumers who are looking to improve cardiovascular fitness is expected to boost the growth of health and fitness club market globally. Increasing awareness about benefits of physical fitness especially are continuously encouraging consumers to adopt the healthy lifestyle which is supporting the market growth.
Moreover, rising cases of obesity especially in developed countries is a major concern, thus making them subject to different diseases. These factors are driving the market for health and fitness club in developed regions such as US, Japan, and Italy. Rising number of millennial and baby boomers joining fitness clubs is also playing major role to drive the market growth.
Health and Fitness Clubs to Witness Fastest Growth during the Forecast Period
Growing equipment and facility spaces in fitness clubs such as such as hot yoga studios, high altitude training rooms, metabolic testing equipment, medical exercise areas and day spas is gaining popularity among the consumers which is likely to drive the market growth. Significant growth in gym businesses owning to convenience of attending gym sessions at any time, and affordable memberships are expected to boost the revenue of health and fitness clubs in upcoming years.
Increasing collaborations between fitness training centers and corporates are also expected to support the health and fitness club market. The conventional tools of various social media platforms continue to allow major fitness centers to keep a constant dialogue with their consumers providing them information about the updates on new services and their benefits which is likely to play key role in the market growth during the forecast period.
Many key players are competing on the basis of the quality and range of services offered, service differentiation, pricing, and value-added services. The market is likely to intensify with an increase in service offerings, development in fitness equipment, and collaboration of domestic and international health club which is expected to play major role in health and fitness market growth during the forecast period.
Increasing Inclination towards Fitness Activities to Drive the Market Growth in Asia-Pacific Region
Rising health awareness and increasing obesity among consumers in North America is likely to support the market growth in the region. For instance, according to the CDC (Centers of Disease Control & Prevention), in 2017, almost more than 68% of Americans over the age of 20 are overweight, including 35% that are considered to be obese. Moreover, awareness and education about the importance of a healthy lifestyle continues to increase in the region which is supporting the market growth from last few years.
Inclination of young generation towards strength training in Africa region is expected to boost the health and fitness club market growth in the region. For instance, according to The Kenya Bodybuilding Federation (KBBF), the popularity of bodybuilding is increasing in the country and as a result Nairobi is slowly becoming home to one of Africa's largest gym going communities. In Asia-Pacific, increasing female participation is expected influence in number of female centered health club facilities in upcoming years.
Key Topics Covered
1.1 Scope of Study
1.2 Study Deliverables
1.3 Study Assumptions
1.4 Research Phases
2. Health and Fitness Club Market Insights
2.1 Market Overview
2.2 Market Trends
2.3 Industry Attractiveness - Porter's Five Forces Analysis
3. Health and Fitness Club Market Dynamics
3.1 Health and Fitness Club Market Drivers
3.2 Health and Fitness Club Market Restraints
3.3 Health and Fitness Club Market Opportunities
4. Health and Fitness Club Market Segmentation
4.1 Health and Fitness Club Market By Service Type
4.1.1 Membership fees
4.1.2 Total admission fees
4.1.3 Personal training and instruction services
5. Health and Fitness Club Market By Geography
5.1 North America Health and Fitness Club Market Size (2018-2023)
5.2 Europe Health and Fitness Club Market Size (2018-2023)
5.3 Asia-Pacific Health and Fitness Club Market Size (2018-2023)
5.4 South America Health and Fitness Club Market Size (2018-2023)
5.5 Middle East & South Africa Health and Fitness Club Market Size (2018-2023)
6. Health and Fitness Club Market Competitive Landscape
6.1 Most Active Companies
6.2 Market Share Analysis
6.3 Strategies Adopted by Leading Players
7. Health and Fitness Club Market Company Profiles
7.1 Original Temple Gym
7.2 Metroflex Gym
7.3 Titan Fitness
7.4 Crunch Fitness
7.5 LA Fitness International LLC
7.6 Life Time Inc.
7.7 24 Hour Fitness
7.8 Equinox Fitness
7.9 Gold's Gym International Inc.
7.10 The Bay Club Co.
7.11 Capital Fitness Inc.
7.12 UFC Gym
For more information about this report visit https://www.researchandmarkets.com/r/xdrmwv
View source version on businesswire.com:https://www.businesswire.com/news/home/20190405005403/en/
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Related Topics:Sporting Goods and Equipment,Fitness Centers and Health Clubs
INDUSTRY KEYWORD: HEALTH FITNESS & NUTRITION RETAIL OTHER RETAIL
SOURCE: Research and Markets
Copyright Business Wire 2019.
PUB: 04/05/2019 01:58 PM/DISC: 04/05/2019 01:58 PM