Fitness and Recreational Sports Centers Market Size, Competitive Landscape and Market Forecast - 2029

SKU: DMFMCG2454 | Last Updated On: Sep 02 2022 | Available Formats

> Global Fitness and Recreational Sports Centers Market Expected to reach a high CAGR of 4.70% By 2029: DataM Intelligence

Global Fitness and Recreational Sports Centers Market is segmented by product type (Gymnasiums, Yoga, Handball sports, Racquet sports, Skating, Swimming, Others), by age (35 and younger, Aged 35-54, Aged 55 and older), End-user (Men, Women), By Region (North America, Europe, South America, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029

 

Market Overview

[200 Pages Report] The Global Fitness and Recreational Sports Centres Market are expected to grow at a high CAGR of 4.70% during the forecasting period (2022-2029).

Fitness and Recreational Sports Centres Market - Strategic Insights

Metrics

Details

Market CAGR

 4.70%

Segments Covered

By Product Type, By Age, By End-user and By Region

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights.

Fastest Growing Region

Asia Pacific

Largest Market Share 

North America

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Fitness and Recreational Sports center are places that have spaces and equipment that are desired by people for their recreational and fitness purpose. Gymnasium centers, sports centers like football, basketball, rowing, and others are examples of places preferred by people for their leisure.

Market Dynamics

The rise in Youth Population and health awareness

One of the factors driving the market is the global rise in the youth population and the increase in health awareness among people of every age. As per the 2020 report by United Nations, estimates indicate that the youth population (people of age 15-24 years) is around 1.20 billion which accounts for 15.5 percent of the global population. And with the global rise in population 0f the world, the figure is going to rise for the forecast period (2021-2028), thus driving the demand for fitness centers. As per another report by United Nations, 56.2% of the global population resides in urban cities. This rise is due to the urbanization of many towns and the shift of population to major cities. With urbanization, it becomes difficult to maintain a healthy lifestyle in conventional ways, therefore people prefer gyms and recreational centers. Evidence to support this fact is that number of gyms as per a 2020 report was 205 thousand indicating an increase of 12.11% from 183 thousand in 2014.

Additionally, as per the latest report by IHRSA (International Health, Racquet and Sportsclub Association), the number of health club visits has increased from 4.3 billion in 2008 to 6.1 billion visits in 2018 indicating a 41.86 % increase. The increase in the cases of obesity and its health problems increases awareness among people. According to a 2021 article by WHO, worldwide obesity has nearly tripled since 1975, in 2016, more than 1.9 billion adults, were overweight of which over 650 million were obese and most of the world's population live in countries where overweight and obesity is a greater killer than underweight.  The global crisis has also compelled people to take their health more seriously.

However, the growth of the global Fitness and Recreational Sports Centres market is impacted by factors such as high costs associated with fitness equipment and high maintenance and operational costs of the facilities.

Covid-19 Impact Analysis

The global crisis-imposed lockdown all over the world, causing a huge loss in revenue for the gym establishments all over the world. For instance, according to a report by IHRSA, 17% of fitness facilities and studios in the US permanently closed their doors by the end of 2020 and about 1.4 million or 44% of gym employees lost their job because of COVID-19. However, as the world is reopening the number of enrolments has risen for the year 2021 owing to the online/in-person workouts and health consciousness due to the virus. For instance, the gym industry in the US is expected to face growth for the year 2021.

Segment Analysis

The market is segmented based on the type, like gymnasiums, yoga, handball sports, racquet sports, skating, swimming, others.

Among all of the types, gymnasiums have always dominated the market and is also expected to dominate the market for the forecast period despite the global pandemic. Its old association with fitness culture, popularity, and availability of a variety of equipment in one place make it the first choice for health-conscious people. According to a survey by Hindustan Times in India, 75% of the people are going to return to pre-pandemic routine and actual gym, while also keeping the option of virtual assistant in case the pandemic persists for a long time. Likewise, similar cases are expected to be foreseen in the US, Canada, and European nations.

The ongoing pandemic has also enhanced the market for home workout options like Yoga. According to ClassPass, an American Fitness Company, Yoga was the most preferred form of a home workout, owing to the mental issues caused by work from culture, and it has shown the best positive result for mental health. This is also expected to compel the fitness center to include more special Yoga Centres.

Geographical Analysis

The Global Fitness and Recreational Sports centers Market is segmented into North America, Europe, Asia Pacific, South America, and the Middle East and Africa.

North America dominates the market as US has the highest number of gym members and the highest number of gyms in the world. The people in the region have great concern over health and fitness and Covid-19 has done nothing but increase health consciousness. The rising disposable incomes coupled with increasing spending’s on fitness and Recreational sports centres by people of the US drives the market. According to a report by run repeat , there are 41,370 locations of  Gym, Health & Fitness Clubs businesses in the US as of 2021. According to the IHRSA’s 2020 report, The U.S. leads all markets in memberships with 64.2 million members, 41,370 facilities, and revenue of US$35 billion for 2019. The next in the list was Germany and UK each having revenue of roughly 6.2 billion dollars. The difference indicates the dominance of North America in the market. The presence of well-established fitness infrastructure, an increase in health club visits individuals, and a rapid surge in fitness center establishments across the region are the drivers of this region and it is projected that as the effect of pandemic minimizes, the market in the region is going to face a surge.

Competitive Analysis

The key players that influence the market are 24 Hour Fitness, Equinox, Gold Gyms, Plant Fitness, Lifetime Fitness, Town sports international, Konami Sports Club, McFit, CrossFit Inc and David Lloyd Leisure Ltd. However, as per SEP 2020, the pandemic has compelled players like 24 Hour Fitness, Gold’s Gym and Town Sports International to file for bankruptcy.

New product launches, expansion of facilities, mergers, and acquisitions, and strategic partnerships are vital strategies adopted by most of the companies to contribute to the growth of the company and improve their market growth rate.

For instance, in April 2021, Jonson Health Technology,  one of the world’s largest and fastest-growing fitness equipment manufacturers, highlighted its Matrix Connected Solutions, which provides a complete digital ecosystem that gives health and fitness club owners the flexibility they need to accomplish their specific goals, and introduced its latest fitness equipment including a Matrix Performance Plus Treadmill that surpasses the current standard of comfort and reliability, and the Performance Ascent Trainer, which offers a full-body, low-impact workout that drives results.

In another instance, in January 2019, Fitness and wellness product manufacturer Dyaco had launched a new line of medical and rehabilitation equipment as part of a global brand licensing agreement with Philips.

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  • Visualize the Global Fitness and Recreational Sports centres Market's composition across each indication in the Age, Product Type, End-user highlighting the key commercial assets and major players.
  • Identify commercial opportunities in the global Global Fitness and Recreational Sports centers Market by analyzing trends and co-development deals.
  • Excel data sheet with thousands of data points of the global Global Fitness and Recreational Sports centers Market-level 4/5 segmentation.
  • PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
  • Product mapping in excel for the key products of all major market players

**The Global Fitness and Recreational Sports centers Market report will provide access to approximately 53 market data tables, 44 figures, and 200 pages.

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