Market overview:

Health & Fitness Club Market was worth 89.59 billion US dollars in 2021, and it is estimated that it will reach a valuation of 160.2 billion US dollars by 2026 at a CAGR of 7.5% during the forecast period of 2021 to 2026.

Market Drivers and Restraints:

Growing space of equipment and facilities in gyms such as yoga studios, advanced training rooms, metabolic testing equipment, medical yards, and day spas which are gaining more popularity among the consumers, propels the growth of the Health & Fitness Clubs market. Increasing consumption of unhealthy foods and sugar leads to obesity, diabetes, high blood pressure, heart disease, and growing awareness of millennials has increased spending on healthy lifestyles and physical activities are some of the driving factors of Health & Fitness Clubs market. However, the high cost of the equipment and increasing demand for home gym equipment during the forecast period are some of the major restraints affecting the growth of the market of Health & Fitness Clubs.

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The report is segmented as:

The Health & Fitness Club market is segmented by service type. By service type, the Health & Fitness Club market is segmented into membership fees, total administration fees, personal training & instruction services.

Geographical Segmentation:

The European region is expected to hold the dominance of the market during the forecast period. Europe region holds the major share of the market of Health & Fitness Clubs market due to the increasing consumption of unhealthy foods and sugars worldwide, leading to obesity, leading to diabetes, high blood pressure, and heart disease. North America region holds the second-largest share of the Health & Fitness Club market owing to the increase of investments by the companies for the new technological advancements by the key players in the region, especially from countries such as the United States and Canada.

Impact of COVID-19 on Health & Fitness Clubs Market

Due to COVID 19 pandemic, all the industries are facing a lot of financial crisis due to the halt of their businesses because of the lockdown imposed by the government authorities. Furthermore, the companies related to Health & Fitness Clubs are also facing a financial crisis due to the COVID 19 pandemic. As per the analysis, the Health & Fitness Clubs market is expected to bounce back in the upcoming two to three years due to the growing awareness of adopting healthy lifestyles and doing physical activities. Growing incidences of chronic diseases and increasing prior to the change in the food habits are propelling the demand of the health and fitness club market.

Key market players:

Major market players of Health & Fitness Clubs are Self Esteem Brands LLC, LTF Holdings Inc., Town Sports International Holdings Inc., Gold’s Gym International Inc., Equinox Holdings Inc., UFC GYM, Planet Fitness Inc., Crunch Fitness, The Bay Club Company, Goodlife Fitness.

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Scope of the report:

The report offers a comprehensive examination of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along with this, the factors influential in influencing the market dynamics and trends are discussed in detail at the product level. Further, the performance of the market at the regional and country-level had been assessed, and the prospects with huge growth potential were identified and debated.

The key players in the industry are profiled, giving insights on their financial performance, market position, and growth strategies. Comparative analysis on prime strategically activities of the market players delineating the key developments like mergers & acquisitions, collaborations, and an evaluation of the competitive environment within the industry had provided. The report also provides a broad outlook of the current market along with recommendations from industry experts on the opportunities for investment activity.

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