According to IHRSA, as of July 1, 2021, 22% of gyms and studios had permanently closed their doors.The main driving factors for this industry are the growth of disposable income now that the job market is recovering, increased health awareness, and the possibilities for safe exercising on location. As countries lift strict restrictions, the fitness world is getting back on its feet. The projected fitness industry CAGR between 20 is 7.21%.For this reason, Millennials have caught the attention of boutique studios, wearable developers, and equipment manufacturers. Millennials are considered the “wellness generation,” with 79% of Americans aged 26-40 stating health as the most important thing in their lives, second only to family.TOP 23 Fitenss Industry Statistics You Need to Know This shift recognises that physical fitness is intertwined with mental and emotional well-being. Fitness centres and studios are incorporating services such as meditation, mindfulness training, and wellness coaching to address the holistic needs of their clients. From traditional gym workouts and group fitness classes to yoga, Pilates, dance-based fitness, and outdoor activities, there are many options available for people to choose from based on their interests, fitness goals, and personal preferences.įurthermore, the industry has witnessed a growing emphasis on holistic well-being, with an increased focus on mental health, mindfulness, and overall wellness.
The fitness industry also embraces diverse exercise modalities and specialized training approaches to cater to the varied preferences of individuals. Virtual fitness classes, live-streamed workouts, and on-demand fitness content gained immense popularity, with fitness providers swiftly adapting to offer online services.
Moreover, the COVID-19 pandemic acted as a catalyst for the industry's digital transformation, as lockdowns and social distancing measures compelled fitness enthusiasts to seek alternative ways to stay active and engaged with their fitness routines.
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The accessibility and convenience offered by digital solutions have opened new avenues for individuals to participate in workouts, access professional guidance, and track their progress, regardless of their location or time constraints. Fitness apps, wearable devices, and online fitness platforms have revolutionised how people engage with fitness and wellness activities. One notable trend in the fitness industry is the increasing integration of technology and digital innovations.
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What are the Key Drivers Behind the Growth of the Fitness Industry? A new Deloitte report found that the total impact of the health and wellness market worldwide has now reached $91.22 billion.According to European Health & Fitness Market Report 2023, in Europe, there was an industry revenue of €28 billion with 63.1 million members attending over 63,830 clubs.However, niche sectors, such as online training and home equipment, experienced significant growth. Estimates indicate a decrease in market share from $96.7bn to $81.5bn in 2023, representing a 15.7% overall industry decline.There were more than 205,000 clubs with over 184.6 million members (IHRSA). In 2019, global industry revenue totalled $96.7 billion worldwide.Despite experiencing steady growth in the past decade, with a nearly 30% increase from 2009 to 2019, the fitness industry has faced challenges due to the global pandemic.Key Trends and Statistics Driving the Fitness Industry in 2023Īn evergrowing global emphasis on health consciousness and the pursuit of an active lifestyle dictates that the fitness industry will continue to see stimulated growth and transformation over the coming years.
Whether you're a fitness enthusiast, a professional in the industry, or simply curious about the latest developments, this article will provide a holistic perspective of the latest fitness trends and statistics. In this blog post, we will navigate through the following key sections: an overview of the fitness industry, the latest fitness trends driving its transformation, compelling industry statistics, the influence of the COVID-19 pandemic, and provide insights into fitness demographics. It is pivotal in meeting the growing global demand for improved health and fitness. The fitness industry is a vibrant and ever-evolving domain that encompasses a wide range of activities, products, and services aimed at promoting physical well-being and healthy lifestyles.
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