The global gym membership market is experiencing growth due to factors such as virtual fitness services, specialized fitness studios, and data driven personalization.
PORTLAND, Ore., Oct. 10, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Gym Membership Market By Type (Standard Membership, Premium Membership, Online Membership, Corporate Membership, Others), By Application (Personal Training, Group Fitness, Cardio And Weight Training, Physical Therapy, Sports Specific Training, Others), By Age Group (6 To 17 Years, 18 To 34 Years, 35 To 54 Years, 55 Years And Above): Global Opportunity Analysis and Industry Forecast, 2023-2032". According to the report, the global Gym Membership Market generated $48.5 billion in 2022 and is anticipated to generate $70.1 billion by 2032, witnessing a CAGR of 3.8% from 2023 to 2032.
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The gym membership market is the sector focused on selling memberships and granting access to fitness facilities and services provided by gyms and fitness centers. It covers the provision of access to exercise equipment, group exercise classes, personal training, and various amenities for a specific duration, usually through monthly or annual membership subscriptions. This market serves individuals who aim to enhance their physical fitness, health, and overall well-being by utilizing gym facilities and resources, leading to an increase in the size of the gym membership market.
Prime determinants of growth
The increasing emphasis on health and wellness has emerged as a significant driving factor behind the growing demand for the gym membership market. As more individuals become conscious of exercise and physical activity play in maintaining a healthy lifestyle, the demand for gym memberships has surged. However, seasonal fluctuations and competition from home workouts are expected to restrict the market growth to some extent. Nevertheless, wellness programs for corporate employees and the older population are expected to provide ample growth opportunities in the upcoming years.
Report coverage & details:
Report Coverage | Details |
Forecast Period | 2022–2032 |
Base Year | 2022 |
Market Size in 2021 | $48.5 billion |
Market Size in 2031 | $70.1 billion |
CAGR | 3.8 % |
No. of Pages in Report | 300 |
Segments Covered | type, application, age group, and region |
Drivers | Virtual Fitness Services Specialized Fitness Studios Data-Driven Personalization |
Opportunities | Wellness Programs for Older Population Corporate Wellness Programs |
Restraints | Seasonal Fluctuations Competition from Home Workouts |
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The Standard Membership segment to maintain its leadership status throughout the forecast period
Based on type, the standard membership segment held the highest market share in 2022, accounting for more than half of the global Gym Membership Market revenue and is estimated to maintain its leadership status throughout the forecast period. Standard gym membership trends include personalized experiences through data analytics, member engagement via apps, and virtual classes. Integrating wearable devices tracks progress, enhancing satisfaction. However, the corporate membership segment is projected to manifest the highest CAGR of 6.2% from 2023 to 2032. Major corporate gym membership trends include companies integrating wellness into benefits, providing discounts, and partnering with gyms.
The Group Fitness segment to maintain its leadership status throughout the forecast period
Based on application, the group fitness segment held the highest market share in 2022, accounting for around one-third of the global Gym Membership Market revenue and is estimated to maintain its leadership status throughout the forecast period. These sessions create a feeling of friendship and encouragement, connected with the social and motivational parts of fitness. However, the physical therapy segment is projected to manifest the highest CAGR of 4.9% from 2023 to 2032. In recent times, gyms and fitness centers have been increasingly incorporating physical therapy services into their offerings. This expansion provides members with access to specialized rehabilitation programs, personalized recovery guidance, and expert supervision.
The 18 to 34 years segment to maintain its leadership status throughout the forecast period
Based on age group, the 18 to 34 year segment held the highest market share in 2022, accounting for more than one-third of the global Gym Membership Market revenue and is estimated to maintain its leadership status throughout the forecast period. In the 18 to 34 age group, trends include a preference for boutique fitness studios offering specialized workouts. This age group values technology integration, seeking apps for scheduling and progress tracking. However, the 55 years and above segment is projected to manifest the highest CAGR of 4.4% from 2023 to 2032, gyms are offering specialized fitness programs tailored to the needs and abilities of individuals aged 55 and above. These programs focus on joint mobility, balance, and functional strength, promoting healthier aging.
North America to maintain its dominance by 2032
Based on region, North America held the highest market share in terms of revenue in 2022, accounting for around one-third of the global Gym Membership Market revenue, In North America, key gym membership trends include the rise of advanced technology boutique fitness studios specializing in unique workouts, increased focus on virtual and online fitness offerings, integration of technology for personalized experiences. However, the Asia-Pacific region is expected to witness the fastest CAGR of 5.0% from 2023 to 2032. The Asia-Pacific gym membership market is experiencing substantial growth due to urbanization, higher disposable incomes, and increasing awareness of fitness.
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Leading Market Players: -
- Pure Barre
- Crunch LLC
- Anytime Fitness Franchisor, LLC
- F45 Training Holdings Inc.
- Burn Boot Camp
- Dedicated SuperGym
- Golds Gym Club Holding, LLC
- Planet Fitness, Inc.
- Bev Francis Powerhouse Gym
- XSport Fitness
The report provides a detailed analysis of these key players in the global Gym Membership Market. These players have adopted different strategies such as collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
Country Reports We Have in this Industry:
- North America Gym Membership Market Opportunity Analysis and Industry Forecast, 2022-2032
- Canada Gym Membership Market Opportunity Analysis and Industry Forecast, 2022-2032
- U.S. Gym Membership Market Opportunity Analysis and Industry Forecast, 2022-2032
- Mexico Gym Membership Market Opportunity Analysis and Industry Forecast, 2022-2032
- Europe Gym Membership Market Opportunity Analysis and Industry Forecast, 2022-2032
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