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Health And Fitness Club Market 2024 - Industry Outlook, Present Manufacturers, Channels Analysis And Forecast To 2033
Health And Fitness Club Market
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According to The Business Research Company's, The health and fitness club market size has grown strongly in recent years. It will grow from $92.90 billion in 2023 to $101.46 billion in 2024 at a compound annual growth rate (CAGR) of 9.2%. The growth in the historic period can be attributed to the corporatization of jobs, greater number of apartments offering perks, rapid urbanization, government programs promoting physical fitness, and rise in popularity of group fitness classes.
The health and fitness club market size is expected to see strong growth in the next few years. It will grow to $144.82 billion in 2028 at a compound annual growth rate (CAGR) of 9.3%. The growth in the forecast period can be attributed to a shift towards preventive healthcare, growth of fitness franchises, personalized fitness programs, and training plans, adoption of corporate wellness programs, and focus on building a strong community. Major trends in the forecast period include virtual classes, a focus on sustainability, artificial intelligence for personalized workout recommendations, the adoption of smart gym equipment, and health and fitness apps.
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Market Drivers and Trends:
The rising prevalence of obesity is expected to propel the growth of the health and fitness club market going forward. Obesity refers to a medical condition characterized by an excessive accumulation of body fat, often leading to health complications such as diabetes, heart disease, and joint problems. The rising prevalence of obesity is attributed to factors such as sedentary lifestyles, poor dietary habits, and increased consumption of high-calorie, processed foods. Health and fitness clubs address obesity by providing structured exercise programs, access to fitness equipment, and guidance from trained professionals. These offerings encourage regular physical activity and healthier lifestyle habits, resulting in weight loss and improved overall health. For instance, in May 2023, according to the Office for Health Improvement and Disparities, a UK-based government agency, an estimated 25.9% of adults aged 18 and older in England were living with obesity between 2021 and 2022, marking a rise from 25.2% in the 2020-2021 period. Therefore, the rising prevalence of obesity is driving the growth of the health and fitness club market.
Major companies operating in the health and fitness club market are focusing on developing advanced digital fitness solutions, such as personalized coaching applications (apps), to gain a competitive edge and attract more customers. Personalized coaching apps are digital platforms that deliver customized guidance and recommendations based on individual user data and goals, helping users achieve personal or professional objectives with tailored solutions such as custom workout plans. For instance, in April 2023, Anytime Fitness, a US-based health and fitness club, launched AF SmartCoaching technology and the AF App. The AF SmartCoaching technology and app provide 24/7 personalized fitness, nutrition, and recovery coaching that can be accessed from anywhere. This innovation is designed to improve members' health and wellness both inside and outside the gym through real-time data and tailored guidance. The AF SmartCoaching technology enables anytime fitness coaches to develop customized health and fitness plans based on individual member data, tracking activity and performance, and using predictive analytics to adjust plans as members make progress.
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Major Key Players of the Market:
Equinox Holdings Inc., 24 Hour Fitness Inc., Life Time Fitness Inc., LA Fitness, Anytime Fitness LLC, Gold's Gym International Inc., New York Sports Clubs (NYSC), Planet Fitness, Virgin Active Ltd., InShape Health Clubs LLC, David Lloyd Clubs, Barry's Bootcamp, Crunch Fitness, The Bay Club Company, PureGym, SoulCycle, Snap Fitness, F45 Training, Self Esteem Brand, YMCA Canada, Genesis Health Clubs, Town Sports International, Club Pilates Franchise LLC, Bally's Total Fitness, Orangetheory Fitness
Health And Fitness Club Market 2024 Key Insights:
• The health and fitness club market size is expected to see strong growth in the next few years. It will grow to $144.82 billion in 2028 at a compound annual growth rate (CAGR) of 9.3%.
• Rising Prevalence Of Obesity Driving Growth In The Health And Fitness Club Market
• Personalized Coaching Apps Revolutionizing Health And Fitness Clubs
• North America was the largest region in the health and fitness club market in 2023
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