Market Size of Health and Fitness Club Industry
|2019 - 2029
|Base Year For Estimation
|Fastest Growing Market
*Disclaimer: Major Players sorted in no particular order
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Health and Fitness Club Market Analysis
The health and fitness club market size is estimated at USD 98.14 billion in 2023. It is projected to reach USD 172.95 million by 2028, registering a CAGR of 12.00% during the forecast period (2023-2028).
- Consumers are willing to spend more on health and fitness clubs, with the health aspects playing a pivotal role in global market growth. The rising number of health clubs and gyms with personal training and the latest fitness equipment attracts consumers to join health and fitness clubs, influencing the market. A sudden surge in online courses is further contributing to the market growth.
- For instance, in December 2022, Wondercise announced the launch of its gamified online and in-gym group fitness concept in Taiwan for the Consumer Electronics Show (CES) 2023. The company claims this concept helps users compete on the same leaderboard during the same class, whether in the studio or a remote location.
- Equipment and facility spaces in fitness clubs, such as hot yoga studios, high altitude training rooms, metabolic testing equipment, medical exercise areas, and day spas, are gaining popularity among consumers, further supporting market growth. Fitness clubs offer attractive membership fees while increasing marketing and advertisement spending, helping health and fitness clubs generate more revenue.
- For instance, Smart Fit is one of the leaders in the fitness sector across Latin America. According to the Smart Fit company financial statement, it is mentioned that the membership base at clubs continued to grow during the first two months of 2023, adding 361,000 new members. Hence, all the above factors positively drive the health and fitness club market.