Saudi Arabia Fitness Services Market Overview
There
are close to 28+ organized fitness center brands functioning in the Kingdom
along with unorganized fitness centers. While the whole industry has been
recognised at a great growth stage, the competition around the industry is experimental
to be fragmented in nature, in terms of number of market players. A high degree
of fitness centers around the Kingdom are unorganized and independent, while
the existence of organized fitness center brands is limited to foremost cities
such as Riyadh, Jeddah, Dammam, Al Khobar, Makkah and Medinah. Players contend
on the basis of Price, Membership Offers, Center Facilities, Personal Training,
Ambience, Services Offered and Locations.
Report
Analysis
According
to the report analysis, ‘Saudi
Arabia Fitness Services Market Outlook to 2025- By Market Structure (Organized
and Unorganized), By Revenue Stream (Membership, Personal Trainer and
Supplementary Services), By Regions (Riyadh, Jeddah, Dammam, Al Khobar, Makkah
and Madinah and others), By Subscription (3 months, 6 months, 1 year and
others), By Gender (Male and Female), By Age (Below 18 years, 19 to 30 years,
31 to 60 years and above 60 years) and By Income Group (Below SAR 38,000, SAR
38,000 to SAR 94,000, SAR 94,000 to SAR 150,000 and above SAR 150,000)’
states that there has been a commented focus
on developing women centers in the Kingdom, encouraged by the favourable
judgment from the General Authority of Sports. Several fitness players are now aiming
a large part of their future strategies on capitalizing on the increasing
Female Fitness segment, by opening female gyms. As part of the Vision 2030
plans, the Saudi Government launched the National Transformation Plan, which aims
on encouraging the health and wellness among individuals in the country and advancing
the number of physically active individuals in the Kingdom, from 13% to 40% by
2030. There has been a aim on specialized and concept fitness centers, with
Crossfit, Kickboxing, HIIT and Zumba leading the exercises in requirement by
fitness center members in the country. A weighty spread of awareness among the commonly
physically unfit Saudi population, is ensuing in high prerequisite for fitness
services, chiefly by individuals from the age of 20 years to 45 years.
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Competition
Scenario
KSA
is an emerging country in terms of industry competition, making it a fierce
battlefield for new and prevailing the fitness-center brands trying to
function/succeed and to make profits. Foremost prevailing fitness center market
players control the brand loyalty especially among the professionals, due to security
concerns associated with optimizing the fitness equipment. This makes it tricky
for new market players to enter the market. Establishing a great fitness center
that provides all services involving spa, pool, steam bath, lockers, showers,
Jacuzzi along with gym services has also prohibited companies from scaling
their businesses over a certain geographic restriction. The three aspects that
mainly underwrite to the high cost of establishing a fitness center have been
the cost of obtaining land, cost of hiring trained and certified fitness
professionals and cost of purchasing the gym equipment. This has been intimidating
new players with low capital from ingoing the market. A gradual consumer move
towards brand acceptance and new requirement for female precise fitness centers
has encouraged service providers to discover and probably convert this
requirement in their favor.
KSA
Health and Fitness Equipment Market Future
Outlook
A
special aim must be laid on infiltration of the relatively nascent women
fitness segment in the industry in Saudi Arabia. Presence of personalized
workouts, with growth in implementation for personal training programs is projected
to come into effect in a few years from now. Provision of the value-added
services such as free membership freezing, couple discounts, locker room amenities,
free showers, sauna, spa will eventually aid fitness brands to target a broader
chunk of the customer segments and augment the fitness services penetration
rate around the country. Expansion plans of several fitness centers will be put
on hold, for a while as the Covid situation hits the short-term and long-term
business sustainability for gyms in the Kingdom. During future, the Saudi
Arabia Fitness Services Industry is projected to augment at a CAGR of ~10.7%
during the period 2019-2025.
Key Topics Covered in the
Report
·
Benchmarking of Saudi
Fitness Services Market and Global Fitness Services Market
·
Business Model of Fitness
Service Operators in Saudi Arabia
·
Market Sizing Analysis of
Fitness Services in Saudi Arabia
·
Market Segmentation Analysis
of Fitness Services in Saudi Arabia
·
Emerging Trends and
Developments in Saudi Arabia Fitness Services Market
·
Issues and Challenges in
Saudi Arabia Fitness Services Market
·
Customer Decision Making
Parameters
·
Pain Points of Customers
·
Competitive Landscape
·
Market Share of Unorganized
Players in Fitness Services Market in Saudi Arabia
·
Company Profiles of Major
Players (Fitness Time, Body Masters, NuYu, Fitness First, Glamour Fitness,
NuYU, Gold’s Gym and Others)
·
Covid Impact on Saudi Arabia
Fitness Services Market
·
Future Outlook of Saudi
Arabia Fitness Services Market
·
Analyst Recommendations for
New Entrants and Existing Players
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