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 Country” provides 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 part‐time employment with majority of staff
employed on a casual or part‐time
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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