The
report titled “Vietnam
Fitness Services Market Outlook to 2023 - By Subscription Period, By Organized
and Unorganized, By Revenue Streams (Membership Fee and Personal Trainer Fee)” provides a
comprehensive analysis of fitness services market of Vietnam. The report covers
various aspects including market overview, business cycle, ecosystem, issues
and challenges, trends and developments, SWOT analysis, competitive landscape
and government regulations. The report concludes with the market projection and
analyst recommendations highlighting the major opportunities and cautions.
Market Overview
The
Vietnam Fitness Services industry revenue has increased at a positive double
digit CAGR during 2013-2018. The market is placed is at growing stage with high
potential in future expansion in both urban and sub urban areas. The total
addressable market in Vietnam for fitness services has been expanding. Various
factors supporting growth include heavy expenditure by companies towards brand
promotion activities & marketing including television advertisements,
celebrity promotions, and newspaper advertisement so as to maintain fitness
centers visibility, increasing health consciousness in population especially within
age category of (15-64) years. Increasing disposable income, rising awareness
regarding obesity and to overcome health issues such as diabetes, hypertension
and cardiovascular diseases have been the major factors which have driven the
demand for fitness services centers in Vietnam.
Market Segmentations
By Market Structure: Unorganized fitness centers strongly
dominated the Vietnam fitness services market. Unorganized fitness centers
contribute more than half of revenue as of 2018. Whereas, organized fitness
services centers holds a small share in terms of number of fitness outlets as
compared to unorganized outlets. Organized fitness centers have their major
presence in urban areas only, whereas unorganized fitness centers have their
presence in overall market which helps in dominating the sector.
By Subscription Period: Majority of customer prefers to
purchase yearly and quarterly membership largely due to better discount. People
trying new organized fitness gyms also generally subscribes for quarterly
subscription to test out every services offered by the fitness center. Whereas,
single month memberships and half yearly subscription accounted equal revenue
share in Vietnam fitness services market in the year 2018.
By Number of Gyms: Organized fitness centers has been
largely located in urban areas as they are mostly preferred by high income
group people and has high membership fees which has generally low demand in sub
urban areas of Vietnam.
Ho Chi Minh City has the maximum number of fitness service
centers followed by Ha Noi while, unorganized fitness service centers has been
majorly dominating in most of the parts of the country including urban as well
as sub urban areas.
By Number of Gym Members: Organized fitness centers cater to a
small share of audience as they target the higher income group living in the
urban areas. Therefore there are more members in the unorganized fitness
centers.
By Revenue Stream: Fitness service centers majorly have
two sources of revenue generation such membership fees and fees charged by
personal trainers. In fitness service centers, majority of the revenue has been
generated through the membership fees charged from the customers as it holds more
than half share in revenue generation in fitness services market. Revenue from personal
trainer fees has a smaller share in the market.
Competitive Landscape
Competition in the Vietnam fitness services
market has been highly fragmented for the overall market. The organized fitness
services market in Vietnam is concentrated. California Fitness & Yoga
centers accounted for highest revenue share in organized fitness services
market followed by elite fitness, Fit24 and others. These market players
compete on the basis of Membership fees, Quality of Services, Expertise and
Value Added Services. Personal trainers have been another prime factor for
competition between organized and unorganized fitness centers.
Market Future
Outlook
Market has been anticipated to
showcase a substantial growth in double digits during the forecast period
(2018-2023E). Growth during this period is expected to be supported by increase
in the number of new entrants in the market, growth in household disposable
income of the people, increase in population under the age bracket 15 - 64
years and additional services offered by the fitness service centers in the
market.
Key Segments
Covered:-
By Type of
Market (Number of Gym Members and Number of Gyms)
Organized Market
Unorganized
Market
By Subscription
Period-
1 Month
3 Month
6 Month
12 Month
Key Target
Audience:-
Organized and
Unorganized Fitness Centres
Fitness
Equipment Manufacturers
Sports Authority
Private
Equity Firm
Fitness
Training and Trainers Associations
Time Period
Captured in the Report:-
Historical Period: 2013-2018
Forecast Period: 2019-2023
Major Fitness
Centres Covered:-
California
Fitness and Yoga Centre
Elite Fitness
Fit24
AKC Fitness
MMA Gym
Fitness Centre
Citigym
Curves
Nutrifort
Fitness
Advance
Fitness
Yoga Center –
VYOGA World 3/2
Star Fitness
HCM
Diamond
Fitness Center
Times Plus
Fitness and Yoga
Body Fit
Fitness and Yoga
Platinum
Fitness and Kinesis
VShape
Fitness & Yoga Center
Swequity
Ultimate Fitness
Thanh Hai Gym
N Club
Vital fitness
and yoga center
MD Fitness
Lykos
Kickfitness Center
N-shape
Fitness
KBE Fitness
AE Fitness
Universal
Yoga
New Fitness
and Yoga
Fitness and
Yoga Centre Igym
Olympic Nha
Trang Gym & Fitness
CLB gym
T&V Fitness
Hanoi Kendo
Club
Teekiu
Fitness
Body SHAPE
Gym
Key Topics
Covered in the Report:-
Executive Summary
Research
Methodology
Vietnam
fitness Services Market Genesis & Overview
Vietnam
fitness Services Market Ecosystem
Vietnam
fitness Services Market Snapshot on Personal Trainer
Vietnam
fitness Services Market Size
Vietnam
fitness Services Market Segmentation by Market Structure (Organized and
Unorganized)
Vietnam
Fitness Services Market Segmentation by Subscription Period (1 month, 3 months,
6 months and 1 year)
Vietnam
fitness Services Market Segmentation by Revenue Stream (Membership Fee and
Personal Trainer Fee)
Vietnam
fitness Services Market Segmentation by Subscription Fee (VND 0-5 Million, VND 5-12
Million and Above VND 12 Million)
Vietnam
fitness Services Market SWOT analysis
Vietnam
fitness Services Market Competition Scenario
Company
Profiles of Major Fitness Clubs in Vietnam
Vietnam
fitness Services Future Outlook
Snapshot on
Other Fitness Services Market of Vietnam
Vietnam
fitness Services Market Analyst Recommendations
For more
information, refer to below link:-
Related
Reports:-
Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249
Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249
