Market Size of Health and Fitness Club Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 12.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*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.
Health and Fitness Club Industry Segmentation
Health and fitness clubs provide customers with the infrastructure for workouts and physical activities in exchange for a membership fee.
The global health and fitness club market is segmented by service type and geography. Based on service type, the market is segmented into membership fees, total admission fees, and personal training and instruction services. The market is segmented by geography into established and emerging economies, including in regions such as North America, Europe, Asia-Pacific, South America, and Middle-East & Africa.
For each segment, the market sizing and forecasts have been done based on value (in USD).
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Health and Fitness Club Market Size Summary
The health and fitness club market is experiencing significant growth, driven by an increasing consumer willingness to invest in health and wellness. This trend is fueled by the rising prevalence of health-consciousness and the demand for fitness solutions to combat lifestyle-related diseases such as obesity. The market is characterized by the proliferation of health clubs and gyms offering advanced fitness equipment and personal training services, which attract a growing number of consumers. The surge in online fitness courses and innovative concepts, such as gamified group fitness classes, further contribute to market expansion. Additionally, the popularity of specialized fitness facilities, such as hot yoga studios and medical exercise areas, enhances the appeal of health clubs, supporting their growth. Attractive membership fees and increased marketing efforts also play a crucial role in driving revenue for these establishments.
In the United States, the demand for gym memberships is bolstered by an expanding demographic of health-conscious adults, including baby boomers. Multipurpose health and fitness facilities are increasingly offering specialized services and programs to cater to diverse age groups and fitness levels, thereby encouraging regular exercise. The competitive landscape of the global health and fitness club market is marked by strategic expansions, mergers, and acquisitions, with major players like Planet Fitness and Equinox Holdings Inc. focusing on broadening their geographical reach. Innovations in fitness technology and sustainable luxury fitness offerings are also shaping the market dynamics. Despite economic uncertainties, the health and fitness industry continues to thrive, positioning itself as a robust sector with substantial growth potential.
Health and Fitness Club Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.1.1 Prevalence of Obesity Among Consumers
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1.1.2 Demand for Online and Hybrid Models with Customization and Personalization
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1.2 Market Restraints
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1.2.1 High Operational Costs and Competitive Pricing of Memberships
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1.3 Porter's Five Forces Analysis
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1.3.1 Bargaining Power of Suppliers
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1.3.2 Bargaining Power of Buyers
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1.3.3 Threat of New Entrants
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Service Type
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2.1.1 Membership Fees
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2.1.2 Total Admission Fees
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2.1.3 Personal Training and Instruction Services
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2.2 Geography
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2.2.1 North America
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2.2.1.1 United States
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2.2.1.2 Canada
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2.2.1.3 Mexico
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2.2.1.4 Rest of North America
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2.2.2 Europe
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2.2.2.1 United Kingdom
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2.2.2.2 Germany
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2.2.2.3 Spain
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2.2.2.4 France
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2.2.2.5 Italy
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2.2.2.6 Russia
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2.2.2.7 Rest of Europe
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2.2.3 Asia-Pacific
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2.2.3.1 China
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2.2.3.2 Japan
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2.2.3.3 India
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2.2.3.4 Australia
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2.2.3.5 Rest of Asia-Pacific
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2.2.4 South America
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2.2.4.1 Brazil
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2.2.4.2 Argentina
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2.2.4.3 Rest of South America
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2.2.5 Middle East and Africa
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2.2.5.1 South Africa
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2.2.5.2 Saudi Arabia
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2.2.5.3 Rest of Middle East and Africa
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Health and Fitness Club Market Size FAQs
What is the current Health and Fitness Club Market size?
The Health and Fitness Club Market is projected to register a CAGR of 12% during the forecast period (2024-2029)
Who are the key players in Health and Fitness Club Market?
Planet fitness, The Bay Club Company, Equinox Holdings Inc., Self Esteem Brand and Town Sports International Holdings, Inc are the major companies operating in the Health and Fitness Club Market.
