LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global gyms and health clubs market is expected to reach USD 172.19 billion by 2021, growing at a CAGR of more than 11%.
This research report titled ‘Global Gyms and Health Clubs Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
The gym, health, and fitness industry is rapidly growing in developed economies of the Americas and Europe. Countries such as the UK, the US, Germany, Japan, France, and Italy are responsible for driving the market by volume and value. The Americas dominated the global gyms and health clubs market in 2016, with a share of 41.25%. The rise in health issues, elderly population, awareness of staying healthy, and the number of companies providing gym facilities for employees drives the market in the region.
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Technavio’s consumer and retail research analysts categorize the global gyms and health clubs market into the following segments by service type. They are:
- Membership fees
- Personal training and instruction services
- Total admission fee
Membership fees constitute the largest section of revenue generation in the global gyms and health clubs market. It accounted for 87.16% of the overall market revenue in 2016. To appeal to the mass-segment consumers and raise consumer demand, some gyms and health clubs offer low-cost memberships.
According to Poonam Saini, a lead retail goods and services research analyst from Technavio, “Many memberships include basic amenities such as free weights and elliptical equipment, but require an additional fee for services such as yoga classes and pool access. The global gyms and health clubs market by the number of memberships was estimated at 36.63 million in 2016.”
Personal training and instruction services
Personal training and instruction services constitute the second largest section of revenue generation in the global gyms and health clubs market. It accounted for 10.14% of the overall market revenue in 2016. Gym and health clubs offer personal training and instruction services for individuals or groups. The services involve the presence of trainers that offer personal attention to customers enrolled in a gym.
“The demand for personal trainers is expected to rise during the forecast period, driven by time-strapped consumers who want to achieve their fitness goals quickly. For instance, some gyms offer personal training services to elderly individuals who require fitness classes specific to their injuries and illnesses,” says Poonam.
Total admission fee
Total admission fee accounted for 2.70% of the overall market revenue in 2016. Total admission fee refers to the one-time entry fee charged to the guest to avail the different types of services offered by a gym or health club. The admission fee is usually charged only once in a year. It is directly proportional to the number of enrolments in the company. Therefore, by volume, total admission fee projects an overview of customer enrollment behavior and performance of gyms and health clubs.
The top vendors highlighted by Technavio’s research analysts in this report are:
- Bev Francis’s Powerhouse Gym
- Metroflex Gym
- Original Temple Gym
- Titan Fitness
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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