The Health and Fitness Club Market Report is a meticulous investigation of current scenario of the market, which covers several market dynamics. The Health and Fitness Club Market Report also provides an analytical assessment of the prime challenges faced by Health and Fitness Club Market currently and in the coming years, which helps Market participants in understanding the problems they may face while operating in this Health and Fitness Club Market over a longer period of time.
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Health and Fitness Club Market report studies the world market size of Health and Fitness Club in key regions like North America, Europe, Asia Pacific, Central & South America and Mideast & Africa, focuses on the consumption of Health and Fitness Club in these regions. The various contributors concerned within the price chain of Health and Fitness Club embrace makers, suppliers, distributors, intermediaries, and customers.
The health and fitness club market was valued at USD 94.30 billion in 2018, and it is expected to reach USD 147.11 billion by 2024, witnessing a CAGR of 7.81% during the forecast period, 2019-2024. Consumers are willing to spend more on health and fitness club, with health aspect playing as a key role to drive the market growth across the world. The rising number of health clubs and gym with personal training and latest fitness equipment is attracting consumers to join the health and fitness clubs, which is likely to influence the market growth in upcoming years. Increasing equipment and facility spaces in fitness clubs, such as hot yoga studios, high altitude training rooms, metabolic testing equipment, medical exercise areas, and day spas are gaining popularity among the consumers, which is further supporting the market growth. Attractive membership fees offered by fitness clubs, increasing spending on marketing and advertisement, are helping the health and fitness clubs to generate more revenue.
Scope of the Report
The health and fitness club market report offers key insights into the latest developments. Based on the service type, the market is further segmented into membership fees, total admission fees, and personal training and instruction services. The geographical segmentation offers holistic, as well as specific market sentiments of every region around the world, along with their representative countries.
Key Market Trends
Increasing Inclination Toward Health Clubs for Fitness
Globally, increased consumption of unhealthy food and sugar is causing obesity, which leads to diabetes, heart disease, and high blood pressure. The rise in awareness among millennials has resulted in an increase in expenditure on healthy lifestyle and fitness activities, which is encouraging them to join fitness clubs. Moreover, Gen X is more likely to be the consumer of health clubs than any other demographic, so health clubs are focusing to keep this consumer segment engaged, and continuing to invest in their gym and health memberships by offering personalized service offerings. Due to intense competition in the market, key players are trying to distinguish their service offerings by providing a unique value proposition and benefits to survive in the highly competitive environment, which is encouraging more people to join the fitness and health clubs.
North America Dominates the Global Market
The US health and fitness club market was valued at USD 31.81 billion in 2018, registering a CAGR of 7.95% during the forecast period. Rising health awareness and increasing obesity among consumers in the United States are likely to support the market growth in the region. The number of adults aged from 20 to 64, who are the largest gym-going demographic, has increased, spurring demand for gym memberships in the recent past. As a result, many baby boomers are expected to sign up for health club memberships, as they become more health conscious with age. Most multipurpose health/fitness facilities offer a wide variety of specialty exercise services, equipment, and programs designed to encourage people of all ages and fitness levels to participate in a regular exercise that drives the health and fitness club market in the United States. Some examples are LA Fitness Irvine and Life Time Fitness Chanhassen, MN, and many more.
The most active companies in the market include key players, such as by LA Fitness International LLC, Planet Fitness, LTF Holdings Inc., 24 hour Fitness, and Golds Gym International. LA Fitness International LLC is one of the most active companies, with numerous brands offering a broad range of services, across the world. Moreover, the company has adopted strategic acquisition as the key strategy to increase its geographical presence and customer base. Town Sports International Holdings Inc., Chelsea Piers, EXOS, UFC Gyms, Crunch Fitness, Goodlife Fitness, and Self Esteem Brands LLC, etc. are some of the other active players operating in the health and fitness club market.
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Health and Fitness Club Market Analyse according to leading players, Competitive landscape, geographical regions, top manufacturers, types, and applications forecast over a period of 2019 to 2024. Geographically, this report is divided into many key Regions, with production, consumption, revenue (million USD), market share and rate of Health and Fitness Club Market 2019 in these regions, from 2018 to 2024 (forecast), covering: North America, China, Europe, Japan, Southeast Asia, India.
The Objectives of this report are:
- To define, describe, and analyze the Health and Fitness Club market on the basis of product type, application, and region
- To forecast and analyze the size of the Health and Fitness Club market (in terms of value) in six key regions, namely, Asia Pacific, Western Europe, Central & Eastern Europe, North America, the Middle East & Africa, and South America
- To forecast and analyze the Health and Fitness Club market at country-level in each region
- To strategically analyze each submarket with respect to individual growth trends and its contribution to the Health and Fitness Club market
- To analyze opportunities in the Health and Fitness Club market for stakeholders by identifying high-growth segments of the market
Key Questions Answered in Health and Fitness Club market report:
- What will the market size be in 2024 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
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Health and Fitness Club Market Report Provides Comprehensive Analysis as Following:
Market segments and sub-segments
Market size & shares
Market trends and dynamics
Market Drivers and Opportunities
Market Analysis and Segmentation
Supply and demand
Technological inventions in Health and Fitness Club trade
Marketing Channel Development Trend
Health and Fitness Club Market Positioning
Distributors/Traders List enclosed in Positioning Health and Fitness Club Market
Health and Fitness Club Market report provides you a visible, one-stop breakdown of the leading product, submarkets and market leader’s revenue forecasts till 2024. In conclusion, Health and Fitness Club Market 2019 report presents the descriptive analysis of the Health and Fitness Club Market Major Key-players, Types, Application and Forecast Period knowledge which is able to function a profitable guide for all the Health and Fitness Club Market competitors.
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