Innovative Trends In Worldwide Fitness Market Outlook: Ken Research

Led by increasing health awareness and requirement for an active lifestyle, the worldwide health and fitness products and services market has increased over the past decade. The fitness market comprises a wide-range of products and services such as clothing and footwear, training equipment, nutrition food and energy drinks, wireless health and fitness devices, as well as endowment of gyms, clubs and fitness/training centers.

Whereas, there are close to 28+ organized fitness center brands functioning in the Kingdom along with unorganized fitness centers. While the entire industry has been acknowledged at a high growth stage, the competition in the industry is observed to be scrappy in nature, in terms of number of players. A great degree of fitness centers in the Kingdom are unorganized and autonomous, while the occurrence of organized fitness center brands is restricted to foremost cities such as Riyadh, Jeddah, Dammam, Al Khobar, Makkah and Medinah. Players compete reliant on the Price, Membership Offers, Center Facilities, Personal Training, Ambience, Services Accessible and Locations.
Whereas, the Australia Fitness Service Market has observed strong growth due to prominent increment in the proportion of unhealthy population, growth in health consciousness amongst the adults, growth of household disposable income, transforming lifestyle and fashion trends, groundbreaking marketing strategies being accepted by foremost fitness centers across the country, higher requirement for fitness services by women and the increasing number of penetration of international brands around the country.

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The market is presently at maturity stage owing to the existence of large number of players prevailing and a fierce competition amongst each other. A foremost contributing aspect to the boost in revenue had been the addition of assimilated fitness services such as, Yoga, Pilates and Swimming, provided under one roof. Not only has this, the active increase in the requirement for personal training and growing disposable income and several others aspects have supplemented growth. There has been an augment in the number of gym subscribers and fitness centers which also encouraged the growth of the fitness services market during 2018.

Although, the Australia Fitness Service market has greatly been fragmented and organized in terms of revenue produced. The market is registered by the organized segment considering the revenue, number of fitness centers and the number of gym members. The market is greatly concentrated across New South Wales, Victoria and Queensland with concentrated competition. Existence of international players in the market has made it more competitive. Fitness Industry Major Players in the organized market are Anytime Fitness, YMCA Australia, Good Life Health Clubs, Cross Fit, Plus Fitness, Snap Fitness, F45 Aus Hold Co. Pty Ltd. And others. Fitness Industry Major Players in unorganized market are Powerhouse Gym, Furious Fitness 24/7, Stepz Gym, Derimut Gym, Your Fitness and several others.

Reliant on Fitness Equipment Market, the effective increment in the unhealthy eating habits, increasing demand for personal training, enlarging geographical existence of major fitness centers and diversifying services portfolio will perform as tailwind for market growth. The revenue share of gym memberships is projected to decrease in 2023E since there will be an augment in the requirement of personal training owing to daily monitoring of progress, extra attention and customized exercises given to the consumers.

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