LONDON–(BUSINESS WIRE)–Apr 15, 2019–The global fitness and recreational sports centers market is expected to post a CAGR of close to 5% during the period 2019-2023, according to the latest market research report by Technavio.
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The global fitness and recreational sports centers market will post a CAGR of close to 5% during the period 2019-2023 (Graphic: Business Wire)
With the aim to improve the productivity of employees and reduce stress, several companies are undertaking health-related initiatives within the company premises. They are incorporating fitness programs to reduce absenteeism and sick leaves to achieve higher productivity. Companies are also providing various health services, including free health check-ups to increase health awareness among employees. This trend of encouraging employees to be physically fit is expected to boost the demand for fitness and recreational sports centers during the forecast period.
As per Technavio, the rise in integrated workout formats for group fitness classes will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global fitness and recreational sports centers market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global fitness and recreational sports centers market: Rise in integrated workout formats for group fitness classes
The demand for trainer-led workouts that offer proper training and creative ways of staying in shape is increasing significantly. To make the exercise regimen more interactive, Gym instructors have now started offering group fitness classes that combine various types of workout formats such as cycling, running and strength training, and body-weight training. For instance. GOLD’S GYM offers group exercise services in most of its fitness centers where professional instructors take group yoga and Zumba classes. These new formats enable instructors to engage members and produce effective outcomes related to weight loss and increasing body stamina and strength.
“Hectic work schedules and various lifestyle-related diseases are pushing people to opt for daily exercise. Moreover, governments of many countries are setting up outdoor gyms for people who hesitate to invest in an expensive fitness club membership. In addition, people are becoming more aware of the benefits of a healthy lifestyle through various media channels and the Internet. Increasing awareness about lifestyle-related diseases and their solutions spread by various health organization and governments across the world will boost the growth of the fitness and recreational sports centers market,” says an analyst at Technavio.
Global fitness and recreational sports centers market: Segmentation analysis
This market research report segments the global fitness and recreational sports centers market by end-users (men and women) and geographic regions (APAC, Europe, MEA, North America, and South America).
The men’s segment held the largest fitness and recreational sports centers market share in 2018. The change in men’s fitness habits and increase in marketing initiatives by fitness centers promoting strength training are some of the factors that will drive market growth of this segment.
North America region led the market in 2018, followed by Europe, APAC, South America, and MEA respectively. The dominant share of the North America region can be attributed to the rise in the elderly population joining fitness and recreational sports centers coupled with technologically innovative fitness equipment specially designed for older end-users.
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INDUSTRY KEYWORD: RUNNING OTHER SPORTS HEALTH FITNESS & NUTRITION OTHER HEALTH SPORTS BIKING/CYCLING
SOURCE: Technavio Research
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