Published On : 17 Apr 2018
The groundswell of interest that arose among young adult populations for gyms and health clubs world over had its base in their role in managing obesity and enhancing endurance and strength. Over the last decade, the fitness industry has progressed considerably driven by adults as young as early 20s through late 60s hitting gyms and taking health club memberships. This demography is showing a marked proclivity toward such fitness facilities not just to stay fit and agile but keep several diseases at bay. In conjunction with adopting a healthy diet, health clubs and gyms have also gathered colossal traction among the population cohort as an integral part of their health and wellness routine. In particular, the millennials in developing and developed nations are increasingly flocking fitness centers and consider investing in their membership worthwhile.
Which trends will subsist the lucrative demand for gyms and health clubs?
The spiraling promotional campaigns and advertisements in the popular media in recent years has had a profound impact on the demand. The large number of amenities which health clubs dole out to health-conscious individuals at a reasonable cost is constantly contributing to the swelling memberships. According to estimates by QYResearchReports.com., the growth of the gym and health clubs market will ride on high trajectory through 2025.
A crucial factor working in favor of burgeoning demand for health and fitness facilities is the rising healthcare cost for the middle-class population, especially in emerging economies. This slice of population is constantly grappling to tide over the spiraling discretionary spending for healthcare and treatments for various diseases. Health clubs have emerged as a viable alternative for boosting the immunity and combating common diseases. The geriatric population being increasingly prone to a range of chronic ailments such as cardiovascular disorders, diabetes, and arthritis, is also finding health clubs as a cost-effective way to stay fit. The hectic lifestyle has also emerged as a breeding ground for the demand for health clubs as key enabler for lifestyle changes to ward off the diseases.
Which regions are likely to significantly contribute to the widespread uptake of gyms and health clubs memberships?
Some of the key regional segments of the global market can be the U.S., European Union (EU), Japan, India, China, and Southeast Asia. The U.S. is home to substantial avenues for health-conscious population looking for gyms and health clubs. The widespread uptake of the memberships among the population aged 20–59 is key to the growth of this regional market. Moreover, with technological advances, the regional market will pave way for niche offering aimed at high-end consumers. The trend of these fitness centers supporting health support groups is also acting a robust catalyst to the demand for the health clubs memberships in the country.
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World over, rapid technological advancement in fitness equipment also has a strong bearing on the adoption of gyms and health club. This may be attributed to a large section of people getting access to advanced gym equipment with affordability than buying for home use.
Southeast Asia, India, and China, are also likely to show promising demand for gyms and health clubs.
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