Showing posts with label Annual Growth. Show all posts
Showing posts with label Annual Growth. Show all posts

Monday, July 31, 2023

The Fitness Showdown: Gym nation and Fitness First’s battle for Dominance in the UAE Fitness Market: Ken Research

 Buy Now

With tilting consumer preference towards Gym nation because of affordability, it is imperative to see the future market scenario for Fitness First & Gym nation

Storyline

  • Inspiring tailored fitness solutions, global recognition.
  • GymNation: Affordable fitness concept, rapid UAE expansion.
  • Clash of Giants: Fitness First vs. Gymnation rivalry.
  • As per Ken Research, Consumer preference to shape market dominance.

In the competitive UAE fitness industry, Gymnation and Fitness First have come up as dominant players. Gymnation, founded in 2018 under JD Gyms, prioritizes affordability and accessibility. Fitness First, established in 1993, is a leading global health and fitness chain with a strong presence in the Middle East. With both companies holding significant market share, the future scenario is something that brings a lot of curiosity. In this article, we uncover their current dynamics, strengths, and future prospects in the evolving UAE fitness landscape.

1.The story till date.

Dubai Fitness Service Market

Interested to Know More about this Report, Request for a sample report

Established in 1993, Fitness First has earned global recognition for its commitment to inspiring individuals to pursue fitness that’s tailored made for them. By providing top-notch training equipment, health solutions, and internationally accredited professionals, Fitness First helps customers achieve their fitness goals as per their desires. In contrast, GymNation, founded in 2018, identified the need for affordable fitness options and quickly filled the market gap. With their budget-friendly approach and expansive facilities, GymNation has become one of the largest fitness center chains in the UAE.

2.Market Presence is something to look out for.

Dubai Fitness Service Market

Gymnation’s strong presence is marked by the fact that within 1 year of opening, the Al Quoz Gymnation facility reached 10,000 members and was not only the most affordable but also the largest gym in the UAE. Fast forward to 2019, the company opened 2 new gyms, in Bur Dubai and Ras Al Khaimah. It added another 4 gyms in 2020, in Mirdif, Dubai Motor City, Silicon Oasis and Khalidiyah Mall in Abu Dhabi.

Fitness First on the other hand, has over 70,000 members in over 56 clubs across 46 locations across the UAE, Bahrain, Qatar, Saudi Arabia, and Kuwait. The company goes way back to 1993 & has a strong presence in the UAE market.

3.The USP Battle?

Dubai Fitness Service Market

Visit this Link :- Request for custom report

Talking about the USP’s, Fitness First as a brand comes from more than a decade long experience & their strong market presence spread over not only in UAE but also other regions is their unique selling point itself. Gymnation on the other, being a new player, is still trying to establish as a brand, expanding their presence & have already got favorable consumer preference.

Changing circumstances & ability to adapt to it has been fitness first’s another USP. For instance, as Covid-19 precautionary measures forced gyms to remain closed for a brief period, Fitness First launched an online platform called ‘FF on Air’ & the brand is now building bigger studios to meet demand in the post pandemic era.

Gymnation on the other hand, took advantage of the sheer size of their gym facilities & spaced equipments during the pandemic era. Both the companies have their own set of USP’s but affordability is something that is unique to Gymnation only which is also attracting a huge plethora of consumers & will provide added benefit to the company.

4.What’s next? Affordability or market presence?

Dubai Fitness Service Market

The current market share of both the players is huge & both are expected to run for leadership in the long run. But the consumer preference is something that’ll decide the future course of action for the players.

As per our estimates at Ken Research, Gymnation’s affordability is something that will benefit them in the long run & this is also something that Fitness First has to look out for.

Friday, July 28, 2023

Dubai's Fitness Market: Rising Growth, Fierce Competition, and Promising Future: Ken Research

 An import driven market, Dubai’s fitness services sector has an unlocked potential that players are now recognizing.

Storyline

  • Dubai Fitness Market: Growing demand, driven by population and HNWIs.
  • Market Competition: International vs. domestic players in fierce competition.
  • Growth Drivers: Population growth, HNWIs, and Dubai Fitness Challenge.
  • As per Ken Research, Promising future with increased offline and online fitness to be the future scenario.

1.The current market trends: Exploring the opportunities & testing the water

Dubai Fitness Service Market

Interested to Know More about this Report, Request for a sample report

With a total of 930+ fitness centers in 2022, Dubai’s fitness services market is expected to grow at a CAGR of ~4% to reach 1,130+ fitness centers by 2027 with majority of facilities being local gyms and mass centers. The rising growth rate can be attributed to various factors, including increasing member penetration in offline fitness centers, the rise of the online health and fitness market, and the expansion of boutique fitness centers.

2.How is the market competition scenario?

Dubai Fitness Service Market

Dubai fitness services market is majorly dominated by the international players while domestic players are trying to tap the market supported by the real estate investors. International Players like Pure Gym and Fitness First with low membership fee options have already penetrated the market and expanding to Shaik Al Zayed and outskirts of Dubai. The market is also import driven with majority of imports happening from USA and China (45 Distributors are present in the country selling a wide range of fitness equipment).

3.What about the growth drivers?

Dubai Fitness Service Market

Visit this Link :- Request for custom report

Dubai's population grew by 2.1% to reach 3.55 Mn in 2022. The number of High net-worth Individuals (HNWIs) in Dubai rose by 18% to 67,900, with over 35% concentrated in Jumeirah and Al-Barsha. This has added to the existing advantage being experienced by its Fitness market.  Furthermore, the recent participation by around 2 million people in the Dubai Fitness Challenge has driven the fitness awareness ultimately benefitting the market.

4.What does the future outlook look like?

Dubai Fitness Service Market

According to the research conducted by Ken Research, member penetration in offline fitness centers in the UAE is predicted to reach 6.3 percent by 2025. This indicates a growing interest and participation in fitness activities among the population.

The online health and fitness market in the UAE is expected to contribute $36.5 million in revenue by 2025, with an annual growth rate of 16 percent. This highlights the growing popularity of digital fitness platforms and the adoption of online fitness training, which has been accelerated by the COVID-19 pandemic.