The international health and wellness club market is predicted to grow at the rate of 10.6% throughout the projection duration 2018 to 2023.
Significant development in sports industry has big impact on the health and fitness club market. It is likewise motivating new areas to embrace physical fitness as a crucial part of their way of life. Due to intense competition in the market, key players are attempting to differentiate their services offerings by offering a distinct worth proposal and benefits to survive in the highly competitive environment.
For instance, Gold’s Gym offers the chance to enroll in term life insurance, which offers coverage beginning at USD 10,000, through Lincoln Financial. Fitness and health club market is witnessing development in brand-new and updated items, and are most likely to focus more on performance in customer support, quality, technological innovations, and appealing subscription advantages.
Growing Inclination towards Healthy Lifestyle to Drive Growth
Customers are willing to invest more on health and wellness club with healthy elements is playing key role to drive the marketplace development around the world. The increasing number of health clubs and health club with individual training and latest fitness devices is attracting customers to sign up with the fitness clubs which will continue to affect the market growth in upcoming years.
Growing appeal of yoga, aerobic dance, and swimming among consumers who are seeking to improve cardiovascular fitness is expected to increase the growth of fitness and health club market globally. Increasing awareness about advantages of physical fitness specifically are constantly encouraging consumers to embrace the healthy way of life which is supporting the market development.
Rising cases of obesity especially in industrialized nations is a significant concern, therefore making them subject to various illness. These aspects are driving the market for fitness club in industrialized areas such as United States, Japan, and Italy. Increasing variety of millennial and child boomers signing up with physical fitness clubs is likewise playing significant role to drive the marketplace growth.
Health & Fitness Clubs to See Fastest Growth during the Forecast Period
Growing devices and facility areas in fitness clubs such as such as hot yoga studios, high elevation training rooms, metabolic screening devices, medical exercise locations and day spas is gaining popularity among the customers which is most likely to drive the marketplace development. Substantial growth in gym services owning to benefit of going to fitness center sessions at any time, and budget-friendly memberships are anticipated to improve the revenue of fitness and health clubs in upcoming years.
Increasing cooperations between physical fitness training centers and corporates are also anticipated to support the health and fitness club market. The standard tools of different social networks platforms continue to allow significant gym to keep a constant dialogue with their customers supplying them info about the updates on new services and their advantages which is likely to play key function in the market development during the forecast period.
Numerous key players are contending on the basis of the quality and series of services offered, service differentiation, prices, and value-added services. The market is most likely to heighten with a boost in service offerings, development in physical fitness equipment, and cooperation of domestic and international gym which is anticipated to play major role in health and wellness market growth throughout the projection duration.
Increasing Disposition towards Fitness Activities to Drive the Market in Asia-Pacific Area
Rising health awareness and increasing weight problems amongst customers in The United States and Canada is likely to support the marketplace growth in the area. According to the CDC (Centers of Illness Control & Avoidance), in 2017, nearly more than 68% of Americans over the age of 20 are overweight, including 35% that are thought about to be obese. Awareness and education about the value of a healthy lifestyle continues to increase in the region which is supporting the market development from last few years.
Disposition of young generation towards strength training in Africa region is expected to increase the health and wellness club market growth in the region. For example, according to The Kenya Bodybuilding Federation (KBBF), the popularity of bodybuilding is increasing in the country and as a result Nairobi is slowly ending up being home to among Africa’s biggest health club going communities. In Asia-Pacific, increasing female participation is expected impact in number of female centered gym facilities in upcoming years.
Secret Subjects Covered
1.1 Scope of Study
1.2 Study Deliverables
1.3 Research study Assumptions
1.4 Research study Phases
2. Fitness And Health Club Market Insights
2.1 Market Overview
2.2 Market Trends
2.3 Industry Appearance – Porter’s 5 Forces Analysis
3. Fitness And Health Club Market Characteristics
3.1 Fitness Club Market Drivers
3.2 Health And Wellness Club Market Restraints
3.3 Fitness Club Market Opportunities
4. Health And Wellness Club Market Division
4.1 Fitness And Health Club Market By Service Type
4.1.1 Membership charges
4.1.2 Overall admission costs
4.1.3 Individual training and direction services
5. Fitness And Health Club Market By Location
5.1 The United States And Canada Fitness And Health Club Market Size (2018-2023).
5.2 Europe Health and Fitness Club Market Size (2018-2023).
5.3 Asia-Pacific Fitness And Health Club Market Size (2018-2023).
5.4 South America Fitness Club Market Size (2018-2023).
5.5 Middle East & South Africa Health And Wellness Club Market Size (2018-2023).
6. Health And Wellness Club Market Competitive Landscape.
6.1 Many Active Business.
6.2 Market Share Analysis.
6.3 Methods Embraced by Leading Players.
7. Fitness And Health Club Market Business Profiles.
7.1 Original Temple Health Club.
7.2 Metroflex Gym.
7.3 Titan Fitness.
7.4 Crunch Fitness.
7.5 LA Physical Fitness International LLC.
7.6 Life Time Inc.
7.7 24 hr Physical fitness.
7.8 Equinox Physical fitness.
7.9 Gold’s Fitness center International Inc.
7.10 The Bay Club Co.
7.11 Capital Physical Fitness Inc.
7.12 UFC Gym.