LONDON–(BUSINESS WIRE)–The global fitness and recreational sports centers market is expected to post a CAGR of almost 5% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
Companies that have incorporated fitness programs in their schedules have witnessed lower turnover rates, lesser absenteeism, and fewer sick leaves. This is encouraging many companies across the world to inculcate a culture of healthy living among employees. Several companies are providing gyms and fitness centers in their company premises. Some companies sponsor wellness programs at recreational and wellness centers to improve the health of their employees. For instance, companies such as Microsoft provide paid memberships in full-service gyms for their employees. Therefore, the increasing adoption of strategic wellness initiatives by corporates is expected to fuel the growth of the global fitness and recreational sports centers market during the forecast period.
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As per Technavio, the rise in integrated workout formats for group fitness classes will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Fitness and Recreational Sports Centers Market: Rise in Integrated Workout Formats for Group Fitness Classes
Fitness trainers are combining various workout formats such as cycling, running, strength training, and bodyweight training in group fitness classes. This is making the exercise regimen more interactive. This new approach is providing instructors and trainers with innovative ways to engage members and help them achieve their fitness goals. This trend is expected to boost the growth of the global fitness and recreational sports centers market during the forecast period.
“Rising consumer interest in yoga, aerobics, and mixed martial arts (MMA) and increase in online fitness training will further boost market growth during the forecast period”, says a senior analyst at Technavio.
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Global Fitness and Recreational Sports Centers Market: Segmentation Analysis
This market report segments the global fitness and recreational sports centers market by end-users (men and women) and geography (APAC, Europe, MEA, North America, and South America).
The North American region led the market in 2018, followed by Europe, APAC, South America, and MEA respectively. During the forecast period, the North American region is expected to maintain its dominance over the market. This is due to the growing awareness about the benefits of a healthy lifestyle among consumers. However, the APAC region is expected to witness the maximum incremental growth during the forecast period due to the growing popularity of high-intensity interval training such as grit cardio, sprint, and strength in countries such as Australia, Singapore, Thailand, and Malaysia.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Geographic comparison
- Key leading countries
- Landscape disruption
- Competitive scenario
- Vendors covered
- Vendor classification
- Market positioning of vendors
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