(MENAFN- PR Newswire)
NEW YORK, June 28, 2024 /PRNewswire/ -- The global
fitness and recreational sports centers market
size is estimated to grow by USD 93.8 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of
9.78%
during the forecast period.
Surge in healthcare costs
is driving market growth,
with a trend towards
rise in integrated workout formats for group fitness classes. However,
highly fragmented market
poses a challenge. Key market players include 24 Hour Fitness USA LLC, CrossFit LLC, Crunch LLC, Curves NA Inc., David Lloyd Leisure Ltd., Diverse Retails Pvt. Ltd., Equinox Holdings Inc., Fitness First India Pvt. Ltd., Konami Group Corp., Life Time Inc., Lift Brands Inc., Planet Fitness Inc., Roark Capital Management LLC, RSG Group GmbH, Self Esteem Brands LLC, The Little Gym International Inc., Ultimate Fitness Group LLC, Virgin Active Ltd., and Youfit.
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Technavio has announced its latest market research report titled Global fitness and recreational sports centers market 2024-2028
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| Forecast period |
2024-2028 |
| Base Year |
2023 |
| Historic Data |
2018 - 2022 |
| Segment Covered |
End-user (Men and Women), Age Group (35 and younger, 35-54, and 55 and older), and Geography (North America, APAC, Europe, Middle East and Africa, and South America) |
| Region Covered |
North America, APAC, Europe, Middle East and Africa, and South America |
| Key companies profiled |
24 Hour Fitness USA LLC, CrossFit LLC, Crunch LLC, Curves NA Inc., David Lloyd Leisure Ltd., Diverse Retails Pvt. Ltd., Equinox Holdings Inc., Fitness First India Pvt. Ltd., Konami Group Corp., Life Time Inc., Lift Brands Inc., Planet Fitness Inc., Roark Capital Management LLC, RSG Group GmbH, Self Esteem Brands LLC, The Little Gym International Inc., Ultimate Fitness Group LLC, Virgin Active Ltd., and Youfit |
Key Market Trends Fueling Growth
The fitness and recreational sports centers market is experiencing significant growth due to the increasing demand for instructor-led workouts. Trainers and experts provide group classes that combine various workout formats, such as cycling, running, and strength training. These centers offer diet counseling and in-depth knowledge on exercises. Notable brands like GOLDS GYM provide effective group yoga and Zumba classes. Innovative instructor methods engage members, leading to weight loss, increased body stamina, and strength gains. NGOs and social workers promote fitness education, further fueling market expansion.
The Fitness and Recreational Sports Centers market is experiencing significant growth, with a focus on modern facilities and technologies. Mid-sized and large centers are popular, offering a variety of services such as fitness classes, personal training, and recreational sports. Exercise equipment and facilities are essential, including treadmills, weights, and swimming pools. Classes like yoga, Pilates, and group fitness sessions are trending. Older adults and children are key demographics, with specialized programs catering to their needs. Technology plays a role, with apps and wearable devices used for tracking progress and scheduling workouts. The industry is competitive, with players focusing on customer service and convenience to attract and retain members. The market is expected to continue growing, driven by increasing health consciousness and the desire for community engagement.
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Market
Challenges
The global fitness and recreational sports centers market is fragmented, with no dominant player. Unorganized market structure and local brands hinder the expansion of global players. Competition is intense, with small companies focusing on specific services for large corporations. Players compete on price, brand recognition, and services. New entrants face challenges in attracting customers and creating innovative marketing strategies. The market's competitiveness drives the intensification of competition for footfalls and memberships.
Fitness and recreational sports centers face several challenges in today's market. These include increasing competition, high operational costs, and the need to cater to diverse customer preferences. Serving a large and varied clientele requires facilities to offer a wide range of activities such as swimming, soccer, tennis, and aerobics. Additionally, staying up-to-date with the latest fitness trends and technologies is crucial to attract and retain members. Another challenge is maintaining a clean and hygienic environment to ensure customer satisfaction and safety. Furthermore, marketing and promotional efforts are essential to reach potential customers and differentiate from competitors. Lastly, providing excellent customer service and personalized experiences can help fitness and recreational sports centers stand out in the industry.
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Segment Overview
This fitness and recreational sports centers market report extensively covers market segmentation by
End-user
Age Group
2.1 35 and younger
2.2 35-54
2.3 55 and older
Geography
3.1 North America
3.2 APAC
3.3 Europe
3.4 Middle East and Africa
3.5 South America
1.1 Men-
Fitness and recreational sports centers market continues to grow, attracting a large consumer base. These centers offer various facilities including gyms, swimming pools, sports courts, and wellness programs. They cater to individuals seeking an active lifestyle and health improvement. The market's success can be attributed to increasing health consciousness, affordable pricing, and diverse offerings. Fitness and recreational sports centers provide essential services, fostering community engagement and promoting overall well-being.
For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2018 - 2022)
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Research Analysis
The Fitness and Recreational Sports Centers market caters to the needs of individuals seeking to maintain a healthy lifestyle and engage in various forms of physical activity. These centers offer a wide range of facilities including spas, saunas, steam baths, swimming pools, tennis courts, playground equipment, exercise facilities, entertainment facilities, athletic facilities, healthcare services, gymnasiums, yoga, aerobic dance, handball sports, racquet sports, skating, and swimming for both men and women. Fitness equipment is readily available for exercising, making it convenient for individuals to incorporate regular workouts into their routine. The market targets sedentary lifestyles and the youth population, emphasizing the importance of health and fitness in today's fast-paced world. Membership fees may apply for unlimited access to these facilities.
Market Research Overview
The Fitness and Recreational Sports Centers market encompasses establishments that provide facilities for physical fitness and recreational activities. These centers offer a wide range of services including gymnasiums, swimming pools, sports courts, fitness classes, and wellness programs. The market continues to grow as consumers increasingly prioritize health and wellness. Sustainability is also a significant trend, with many centers incorporating eco-friendly practices and technologies. The industry caters to various demographics, from professional athletes to families and seniors. The market is segmented based on the type of sports offered, location, and target demographic. Competition is fierce, with centers differentiating themselves through unique offerings, pricing strategies, and customer experience. The market is expected to grow steadily in the coming years, driven by increasing health consciousness and the desire for community engagement through sports and fitness activities.
Table of Contents:
1
Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
End-user
Age Group
35 And Younger
35-54
55 And Older
Geography
North America
APAC
Europe
Middle East And Africa
South America
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email:
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SOURCE Technavio
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