Global Gym and Health Clubs Market to Reach USD100 Billion by 2024, Rising Demand for Fitness to Drive Growth

Growing demand for physical fitness continues to drive growth for the global gym and health clubs markets. The market is expected to touch nearly USD 100 billion by 2024, thanks to rising interest in personal well-being among millennials. Various studies continue to point towards growing health consciousness among millennials. The millennial generation visits the gym more often as compared to the previous generation and consumes less alcohol and drinks on average as compared to the previous generation. Furthermore, according to the Centre for Disease Prevention and Control (CDC), the number of adults over 18 in the United States who meet the guideline for both aerobic physical activities reached 53.3% in 2018. Furthermore, the adults who met both the physical muscle strengthening and aerobic activity guidelines accounted for 23.2% in 2018. This is expected to drive a robust CAGR of over 8% during the 2021-2027 period in the global gym and health clubs market.

Growing Promise of Tech Remain a Key Draw for Fitness Memberships
The health and wellness centers and gyms make up an important part of the US healthy fitness trends. The industry accumulated revenues of above 52,00 million in the fitness segment in 2020. Moreover, the high numbers of subscriptions remain an important driver of growth, thanks to burned-out experienced by many during worldwide lockdowns, and increased prospects of effective vaccination drives. The growth in the industry may soon reach pre-pandemic levels, wherein more than 71.5 million consumers opted for individual membership, with growth in the health club rising at nearly 8.0% CAGR. The rising investments in health clubs, growing awareness about the ill-effects of a sedentary lifestyle, and increased penetration of visible chronic diseases like obesity will drive major growth for the global gym and health clubs market. According to the International Health, Racquet & Sportsclub Association (IHRSA), the industry witnessed a record high memberships of 183 million users globally, with demand for tech-driven fitness rising substantially. Moreover, the club count facilities exceeded 210,000 total facilities in 2018.

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Segment by Type
• Total Admission Fee
• Membership Fee
• Other

Segment by Application
• Mass Consumption
• High End Consumption

By Company
• Bev Francis’s Powerhouse Gym
• Metroflex Gym
• Original Temple Gym
• Titan Fitness
• Crunch Fitness
• David Lloyd Leisure
• Equinox
• Fitness International
• Fitness Planet
• Titan Fitness
• Crunch Fitness
• Scandinavian Fitness
• UFC Gym
• X Sport Fitness

Global Gym and Health Clubs Market: Regions
• North America (United States, Canada and Mexico)
• Europe (Germany, UK, France, Italy, Russia, Spain and Benelux)
• Asia Pacific (China, Japan, India, Southeast Asia and Australia)
• Latin America (Brazil, Argentina and Colombia)
• Middle East and Africa

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Growing Demand for Rehabilitation Therapy to Create New Opportunities for Growth
Due to the rising number of disabled individuals in the United States, and the increased sedentary lifestyle, the demand for rehabilitation therapy continues to rise globally. According to the World Health Organization (WHO), over 2.4 billion people around the world are living with a health condition, which requires rehabilitation therapy. Moreover, according to the Medical Expenditures Panel Survey Household Component (MEPS) statistics, adults with disabilities incurred nearly $8,000 expenditure on average, to take the total costs to $182.6 billion. Moreover, disability also results in tremendous in-direct costs like losses to earnings. The average individual suffering from disability in the United States, lost an income of over $13,160 to make the total losses of $148.9 billion.

Furthermore, this does not take into account the losses incurred due to loss of productivity, and other forms of economic losses. The CDC estimates that heart disease and stroke account for 868,000 deaths in the United States each year, with health systems spending $214 billion in direct costs-, and $138 in economic losses due to lost productivity. The WHO estimates that the economic losses due to limited rehabilitation will increase in the future as people live longer, with more chronic conditions, and disabilities. The WHO also estimates that in the low-and middle-income countries, over 50% of the population do not receive access to rehabilitation services as required. Moreover, due to the Covid-19 pandemic, nearly 60-70% of rehabilitation services are disrupted in the existing infrastructure. The growing demand for rehabilitation and increased access to fitness facilities due to the rising disposable income remain key drivers of growth in the global gym and health clubs market.

The growing new forms of physical activities like Yoga and technological advancement in gym equipment to cater to the need of disability remains a major promise for growth. Yoga remains a popular fad among urban city dwellers, thanks to the ease of incorporation in the daily routine, and increasing holistic approach towards personal well-being. While yoga is just among a dozen health programs that are making waves around the world, the introduction of these programs signals a growing need among consumers to go beyond the usual routine to adapt to a healthy lifestyle.

Raising Awareness of Issues Like Obesity to Remain a Key Driver of Growth
According to the ScienceDirect journal, the incidences of cardiovascular diseases (CVD) nearly doubled from 271 million in 1990 globally, to 523 million in 2019. Furthermore, the number of deaths due to CVD also increased to 18.6 million in 2019, rising from 12.1 million in 1990. Furthermore, CVD remains a leading cause of disability, deaths, loss of economic productivity, among others globally. For example, the number of years lived with disability increased to 34.4 million in 2019, rising from 17.7 million in 1990, almost doubling over the period. Furthermore, CVD is a group of diseases often leading to fatal conditions like strokes, disability, heart disease, diabetes, obesity, among others. The CDC estimates that a quarter of the US adult population is ineligible to serve in the United States military, due to rising concerns like obesity. Furthermore, there is no short-term medicinal course or therapy to gain immediate relief from CVD diseases. It requires a balanced diet, a healthy lifestyle, and a mix of fitness. The growing awareness about conditions like obesity, and strong association of physical health, and aesthetic appeal to socio-economic standing remains a major driver of growth for players in the global gym and health clubs market.

Growing Revenue Puts Aside the Pandemic to Remain a Steady Driver of Growth
The health and wellness centers and gyms make up an important part of the US healthy fitness trends. The industry accumulated revenues of above 52,00 million in the fitness segment in 2020. Moreover, the high numbers of subscriptions remain an important driver of growth, thanks to burned-out experienced by many during worldwide lockdowns, and increased prospects of effective vaccination drives. The growth in the industry may soon reach pre-pandemic levels, wherein more than 71.5 million consumers opted for individual membership, with growth in the health club rising at nearly 8.0% CAGR. The rising investments in health clubs, growing awareness about the ill-effects of a sedentary lifestyle, and increased penetration of visible chronic diseases like obesity will drive major growth for the global gym and health clubs market. According to the International Health, Racquet & Sportsclub Association (IHRSA), the industry witnessed a record high memberships of 183 million users globally, with demand for tech-driven fitness rising substantially. Moreover, the club count facilities exceeded 210,000 total facilities in 2018.

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The report can answer the following questions:
• North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Gym and Health Clubs industry.
• Global major manufacturers’ operating situation (sales, revenue, growth rate and gross margin) of Gym and Health Clubs industry.
• Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Gym and Health Clubs industry.
• Different types and applications of Gym and Health Clubs industry, market share of each type and application by revenue.
• Global market size (sales, revenue) forecast by regions and countries from 2019 to 2026 of Gym and Health Clubs industry.
• Upstream raw materials and Gym and Health Clubs equipment, industry chain analysis of Gym and Health Clubs industry.
• SWOT analysis of Gym and Health Clubs industry.
• New Project Investment Feasibility Analysis of Gym and Health Clubs industry.

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