Showing posts with label Turkey Fitness Industry. Show all posts
Showing posts with label Turkey Fitness Industry. Show all posts

Monday, November 29, 2021

Fitness Market in Turkey to be driven by Shift of Millennial Generation to Healthier Lifestyles and Rising Awareness about Health and Fitness Services in the Country: Ken Research

Executive Summary

The report titled Turkey Fitness Services Market Outlook to 2025F – Driven By the Shift of Millennial Generation to Healthier Lifestyles and Rising Awareness about Health & Fitness Services in the Countryprovides a comprehensive analysis of the fitness industry of Turkey. The report covers various aspects including the Market Size, Current Penetration, Total Number of Establishment, Total Number of Active Members, Direct Economic Impact and Indirect Economic Impact,  Socio  Economic Implications, Consumer Preferences and Trends Analysis, Technological Disruptions, Major Trends and Development, Government Initiatives and COVID Impact. The report concludes with market projections for future of the industry including forecasted industry size by revenue.

Turkey Fitness Services Market

Robust growth in the Turkey Fitness Industry has been driven by increasing health concerns and awareness among the population along with strong growth in digital offerings directly contributing to the economy. The shift of the millennial generation to healthier lifestyle along with increasing disposable income and to overcome health issues such as diabetes and cardiovascular diseases has brought the importance of physical exercise to the fore driving the demand for fitness centers  over the last decade.

Analyzing the Direct Economic Impact of Fitness Industry in Turkey

The Turkey fitness Industry has expanded significantly over the last decade with several fitness centre chains securing a key market foothold across the country. It is characterized by a high proportion of parttime employment with majority of staff employed on a casual or parttime basis. Popular medium sized fitness centers dominate the sector with hotel based and residential based fitness centers gaining importance over time.

Commercial Gyms: Majority of the fitness centres in Turkey are clustered in prime locations near Istanbul and Ankara. Istanbul alone has ~400 small and medium-size fitness clubs, 25% of which were opened within the last one or two years. The increasing number of integrated services offered by the fitness centers such as Aero boxing, Zumba, Martial arts, swimming and others to the customers has intensified the demand for these services in the country.

Hotels/Resorts: Hotels in Turkey are establishing a fitness centre with state-of-the-art cardio equipment, boutique-style workout classes including certified personal trainers demanded by consumers. A growing number of hotel chains are providing 360-degree wellness complemented by an innovative variety of fitness classes such as Yoga/Zumba and Gym or HIIT and membership plans.

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Schools/Universities: 50%-60% of the Universities in Turkey have well equipped gyms in their campuses/hostels and charge a membership of $20-$25 per month separately. The gyms are usually equipped with Cardiovascular Fitness Equipments (Treadmills & Elliptical machines), Strength Training Equipment (Free weight and weight machines, Resistance machines, Kettle bells & others).

Residential Townships/Compounds: The closure of public gyms, fitness centers and clubs since COVID 19 has led to an astounding demand for residential/community gyms and are by far the highest motivating factor for joining and going to a gym due to the social interactions.

Majority of the apartments in Turkey provide a wide range of amenities such as swimming pools, sauna and courts along with well-established fitness centres.

Assessment of the Indirect Economic Impact of Fitness Industry in Turkey

The fitness market has a ripple effect on other sectors such as fitness equipment industry, construction, real estate, apparel and footwear and technology. The eruption of COVID 19 has resulted a spike in the number of people working out from homes to avoid getting infected, thus fuelling the adoption of in-home fitness equipments. Fitness Machine, Dumbbells, Resistance Bands, Benches and Treadmill has dominated the overall fitness equipment market with Istanbul having majority of health clubs and gyms accounting for extensive revenues in Turkey’s fitness equipment market

Assessment the Socio-Economic Implications for Fitness Industry in Turkey

Turkey has been facing many healthcare challenges due to sedentary lifestyle such as Ischemic Heart Disease, Diabetes, Obesity and Mental Illness. Assuming a significant percentage of the population affected with lifestyle diseases goes to a fitness centre, the estimated savings in direct health care costs from Turkey’s fitness centres is $14.9 Bn in a year. The largest component of this saving arises from the avoided costs of diabetes, which provides a saving of around $8.5 Mn in a year along with increase in workforce participation and increase in workforce productivity 17.8 % and 55.0% respectively.

Turkey Fitness Market Future Outlook and Projections

Turkey Health and Fitness Centres is expected to witness massive spikes in home-workout equipment with online fitness market growing at double digit CAGR and contributing majority of the revenue share in the forecasted year. Growth in the fitness industry will be triggered by a ~% increase in the number of clubs across the country driving a total increase in members by ~% and contributing ~% to GDP. Rising affluence of middleclass upgrading their consumption lifestyle to opt for luxury services will encourage hotels & residential compounds and townships to incorporate fitness centres in their properties.

Key Segments Covered in Turkey Fitness Market

  • Direct Economic Impact of Fitness Centres
  • Overview of Commercial Gyms in Turkey Health and Fitness Market
  • Overview of Fitness Centres in Hotels and Resorts
  • Overview of Fitness Centres in Schools and Universities
  • Overview of Fitness Centres in Residential Townships/Compounds
  • Overview of Fitness Centres in Hospitals
  • Overview of Fitness Centres in Sports Clubs and Govt. Organizations
  • Indirect Economic Impact of Fitness Centres
  • Turkey Fitness Equipment Industry Market Size
  • Evaluation of Premiumization on Real Estate Sector
  • Estimated Cost of Constructing a Fitness Centre
  • Technological Disruptions for Fitness Centres in Turkey

Key Target Audience

  • Fitness Equipment Manufacturers
  • Fitness Equipment Distributors
  • Fitness Centres
  • Government Organizations

Time Period Captured in the Report:

  • Historical Period: 2015-2020
  • Forecast Period: 2020–2025

Key Topics Covered in the Report

  • Socio-Economic Landscape of Turkey
  • Direct and Indirect Economic Impact of Fitness Industry in Turkey
  • Overview of Commercial Gyms in Turkey Health and Fitness Market
  • Snapshot of Digital Fitness Market in Turkey
  • Assessment of the Indirect Economic Impact of Fitness Industry in Turkey
  • Turkey Fitness Equipment Industry Market Size
  • Evaluation of Premiumization on Real Estate Sector
  • Technological Disruptions for Fitness Centres in Turkey
  • Assessment of the Indirect Economic Impact of Fitness Industry in Turkey
  • Overview of Healthcare Scenario/Health Statistics
  • Potential Health Implications and Health Cost Reductions
  • Customer Mindset for Fitness Services
  • Impact of COVID 19 on Fitness Industry in the Turkey
  • Future Outlook and Projections for Turkey Fitness Services Market
  • White space and Opportunities existing in the Turkey Fitness Services Market
  • Research Methodology

For More Information, refer to below link:-

Turkey Fitness Services Market Research Report

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