11-06-2018 02:33 PM CET - Sports
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Fitness and Recreational Sports Centers Market Expected to Reach $113,116 Million, Globally, By Top Key Players: 24 Hour Fitness, Equinox, Gold's Gym, Planet Fitness, Life Time Fitness, Town Sports International, Fitness First and Virgin Active, Konami Sp

Press release from: Allied Market Research
Fitness and Recreational Sports Center Market
Fitness and Recreational Sports Center Market
Fitness and Recreational Sports Centers Market by Type and Age Group: Global Opportunity Analysis and Industry Forecast, 2017-2023," the global fitness and recreational sports centers market size was valued at $83,680 million in 2016, and is expected to reach $113,116 million by 2023, registering a CAGR of 4.4% from 2017 to 2023. North America dominated the global market, accounting for more than one-third share in 2016.

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Rise in awareness about the benefits of fitness is anticipated to increase the number of individuals in the gyms, thus driving the growth of the overall fitness and recreational sports centers market. In addition, increase in cases of obesity and rise in prevalence of osteoporosis & lowering of bone density have prompted people to focus on health and fitness seriously. Furthermore, rise in disposable income of consumers is expected to boost the growth of the global fitness and recreational sports centers industry during the forecast period.

The gymnasiums segment held the major share in the global market in 2016, and is anticipated to retain its dominance till the end of forecast period.

The population below the age of 35 is estimated to hold a significant share in the global market in 2016, as this age group constitutes major working population. Moreover, the number of these individuals going to gyms is on an increase to counter the side effects of their hectic urban lifestyles.

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Many global corporations have already installed in-house fitness centers within their office premises, which promote the growth of the market. Moreover, the hospitality industry and residential societies are also following the same trend. Furthermore, the international fitness chains have taken up franchise routes to tap the developing markets such as India, Indonesia, and China, which is projected to provide lucrative opportunities for market expansion.

Analyst Review:

Fitness and recreational sports centers are the facilities, which have equipment for exercise and physical fitness conditioning activities. The growth of the global fitness and recreational sports centers industry is driven by increase in youth population across the globe and shift in consumer preference towards better individual health. The international fitness chains and gyms have already started expanding their product and services to tap the developing markets to cater to the increasing customer requirements.

Many key players have adopted the franchising model to enter in the developing markets and to expand their client base. The fitness customers are mostly in the age group of 35 & younger, who majorly focus on personal esthetics and fitness. North America and Europe are anticipated to hold the major share in the global market during the forecast period. India is projected to witness significant growth in the Asia-Pacific market.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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