The Global Gym Industry Has a Growth Rate Of around 8.5% Per Year in The Upcoming Years, Making It One of the World’s Fastest-Growing Sectors - Ken Research

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The Global Fitness Services Market is fragmented and has high intensified competition within industry players. Top players such as LA Fitness, Life Time Fitness, 24 Hour Fitness, and Anytime Fitness are the key players in Global Fitness Services Market. The market is largely driven by growing awareness about importance of health, the rising disposable incomes worldwide.

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1. The pandemic helped the global fitness app market reach a valuation of nearly $4 billion in 2020.
Fitness Apps Such as Fitbit Cure. Fit and Home Workout and Others are Enabling the Fitness Market to grow more in the coming years. The advent of fitness apps has played a key role in the increased popularity of exercising throughout the nation. This has encouraged health awareness and exercising to become an essential trend, which has been burgeoning among people in the world. The market size of the fitness industry in world reached more than USD 200 billion in 2021, with a robust CAGR.

2. There Are More Than 180 Mn Gym Members in Total Worldwide: Showing Growing Health Awareness Amongst the People.

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Fitness industry is growing to be biggest in the world as more and more people are increasingly taking up gym membership in lieu of growing health awareness and stress management. During the forecast period, the increasing sense of health-consciousness amongst the consumers is expected to stimulate the demand for taking fitness services.

3. There Are More Than 200,000 Gyms Available to Members Worldwide.

Fitness clubs provide customers with the infrastructure for their workouts and physical activity in exchange for a membership fee. The market size of the global fitness industry has been steadily increasing in recent years. Some of the largest health clubs worldwide in terms of revenue include 24 Hour Fitness and Life Time Fitness. At the very top of this list sits LA Fitness, which generated revenue exceedingly around 2 billion U.S. dollars in 2018. Moreover, the country with the most gyms is the United States with 41,370 locations. Brazil has the 2nd most gyms with around 29,000 and Mexico has the 3rd most with around 12,000.

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Global Fitness Service Market

Despite The Pandemic Global Fitness Services Market Is Set to Cross More Than $ 450 Bn in the Coming Five Years: Ken Research

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Global Fitness Services Market which reached a value of more than USD 200 billion in the year 2022. The Fitness service industry is further expected to grow at a robust CAGR by 2027, says a report by Ken Research.

1. The Global Fitness App Market Is Projected to Reach Almost USD 15 Billion By 2027.

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The market has witnessed an increase in demand in the past few years owing to the growing penetration of smartphones and the emergence of advanced technologies in the healthcare sector. Instead of the typical brick-and-mortar gyms that provide long-term subscriptions, digital-focus gyms with a business strategy of retail locations and online applications appeared to seize this potential in 2022. Since there are no yearly membership costs, anybody may use the gym and the lessons whenever they choose, unlike typical gyms that charge a set upfront amount regardless of use. As a result, technology-enabled gyms that provide both online and offline alternatives are gradually replacing traditional gyms across the globe.

2. Almost 3% of the population globally are gym members: Developed Nations are at the Top.

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The internet has greatly increased the popularity of the fitness movement, especially among younger people. Fitness KOLs are developing and taking on a more important role in encouraging millennials towards a healthier lifestyle as a result of the trend of health and wellness being in line with rising affluence. 22.00% of the population of Sweden and Norway are gym members, the highest penetration rates globally. In a close third, there is the US, with around 21% of Americans are gym members.

3. Fitness Industry Revenue Declined by More Than 55% in 2020: How is The Global Fitness Industry Prospering after COVID-19?

The World Fitness Market expansion was hampered by the coronavirus epidemic, which also constrained the sector's growth. Prior to the pandemic, the market for fitness services was growing, but because of the lockdown, it faced several difficulties. Roughly 30% of fitness club members are expecting to attend three to four days per week, down from approximately 40% pre-COVID-19. The industry is now prospering. The market's expanding growth potential have increased the sector's chances of expansion. The industry has been developing more quickly, and it will continue to expand across the globe.

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Global Fitness Service Market

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