Dublin, Jan. 04, 2021 (GLOBE NEWSWIRE) — The “South America Health and Fitness Club Market – Growth, Trends and Forecast (2020 – 2025)” report has been added to ResearchAndMarkets.com’s offering.
The South American health and fitness club market is projected to grow at a CAGR of 6.49% during the forecast period (2020-2025).
- Growing health consciousness and rising healthcare costs are leading customers to consume healthy food and engage in regular workouts to remain fit. Thus, customers are increasingly adopting preventive healthcare, which, in turn, resulted in an increased number of fitness club establishments in the region.
- According to the Federal Council of Physical Education, there was more than a 12% increment in the number of fitness clubs in Brazil during 2012-2016. The statistics portray a proportionate rise in the number of consumers opting for such services to meet fitness requisites.
- The rise in government initiatives to promote fitness has also been driving market growth. Furthermore, to sustain in this competitive market, key players are continuously equipment their fitness clubs with innovative/advanced gym equipment.
Key Market Trends
Increasing Inclination toward Health Clubs for Fitness
Similarly, like other regions, South America has also witnessed increased consumption of unhealthy food and sugar is causing obesity, which leads to diabetes, heart disease, and high blood pressure. Therefore, the rise in awareness among millennials has resulted in an increase in expenditure on healthy lifestyle and fitness activities, which is encouraging them to join fitness clubs. Moreover, Gen X is more likely to be consumers of health clubs than any other demographic, so health clubs are focusing on keeping this consumer segment engaged, and continuing to invest in their gym and health memberships by offering personalized service offerings. The popular fitness services in the region majorly include gym facilities, yoga, Pilate, swimming, martial arts, Zumba, Brazilian Jiu-Jitsu, and cross fit, thus providing a plethora of services for the consumers to choose from.
Brazil is the Largest Market
As per the data published by International Health, Racquet & Sportsclub Association (IHRSA), Brazil was among the top four countries, which had the most number of members in health and fitness clubs, in 2017 (in millions). It had 9.6 million members in 2017, with the United States, Germany, and the United Kingdom occupying the first three spots. Moreover, Brazil alone accounts for more than half of the health clubs in Latin America, with 34,509 facilities. Argentina has the highest penetration rate among all the Latin American countries as 6.8% of Argentinians belong to a health club. In Brazil, the increasing number of lifestyle problems, such as obesity, diabetes, hypertension, cervical, and other problems, is on a rise. This is due to the sedentary lifestyle that has become very common among the youth, as well as the elderly population. As per the records published by Ministerio da Saude, the share of the adult population who were considered obese in Brazil in 2007 was 13.35%, which increased to 18.95% in 2017. The above factor is expected to increase the number of members in the health and fitness clubs in Brazil, both young and elderly population are likely to drive this growth.
Competitive Landscape
South America health and fitness club market is highly competitive. The leading players are extensively concentrating on factors, including membership prices, additional services, like nutritional programs and spa services, and marketing activities, in order to retain their existing customers and to gain a competitive advantage in the market. Moreover, these players are also focusing on a social media platforms and online distribution channels for their online marketing and branding of their service offerings to attract more customers.
Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
3.1 Market Overview
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter’s Five Forces Analysis
5 MARKET SEGMENTATION
5.1 By Service Type
5.1.1 Membership Fees
5.1.2 Total Admission Fees
5.1.3 Personal Training and Instruction Services
5.2 Geography
5.2.1 Brazil
5.2.2 Argentina
5.2.3 Colombia
5.2.4 Rest of South America
6 COMPETITIVE LANDSCAPE
6.1 Most Active Companies
6.2 Most Adopted Strategies
6.3 Market Share Analysis
6.4 Company Profiles
6.4.1 Anytime Fitness LLC
6.4.2 Academia Bio Ritmo
6.4.3 Bodytech Sports Medicine
6.4.4 GOLD’S GYM
6.4.5 Megatlon Club
6.4.6 Planet Fitness Franchising, LLC
6.4.7 AYO Fitness Club
6.4.8 OX Fitness Club
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/1yio56
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