The global fitness and recreational sports centers market size was $83,680 million in 2016, and is expected to reach $113,116 million by 2023, registering a CAGR of 4.4% from 2017 to 2023.
Portland, OR -- (SBWIRE) -- 02/02/2018 -- The global fitness and recreational sports centers market size was $83,680 million in 2016, and is expected to reach $113,116 million by 2023, registering a CAGR of 4.4% from 2017 to 2023. This is attributed to the growth in per capita disposable income. Fitness and recreational sports center consists of facilities, which offer fitness equipment, exercise classes, swimming pools, playgrounds, and fitness instruction services.
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Rise in marketing campaigns intended to fight obesity and increase in consumer trends toward improved health lead to the increase in popularity of fitness and recreational sports center. According to the International Health, Racquet, and Sportsclub Association (IHRSA), in 2014, the number of fitness club memberships in the U.S. increased to 54.1 million from 51.4 million in 2011, which fueled the growth of the market.
Increase in awareness about the role of exercise in fighting obesity and other related problems has led to rise in popularity of recreational sports center such as aerobics, swimming, and gym. Moreover, improved lifestyle and rise in disposable income of individuals accelerate the growth of the market. Surge in popularity of yoga in the western world, which includes the U.S. and European countries, further supplements the market growth. In addition, increase in adoption of professions in sports and entertainment industry, which requires extreme fitness, is anticipated to provide potential opportunities for the market players. However, high cost of membership of fitness and recreational sports center hamper the market growth.
The global fitness and recreational sports centers market is segmented based on type, age group, and geography. Based on type, the market is divided into gymnasiums, yoga centers, aerobic dance, handball sports, racquet sports, skating, swimming, and others. By age group, it is classified into 35 & younger, 35–54, and 55 & older. Based on region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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The key players in the global fitness and recreational sports centers industry have strategically focused on expansion as their key strategy to gain significant share in the market.
The key players profiled in the report are:
24 Hour Fitness
Life Time Fitness
Town Sports International
Fitness First and Virgin Active
Konami Sports Club
KEY BENEFITS FOR STAKEHOLDERS
This report provides an extensive analysis of the current trends and emerging estimations in the global fitness and recreational sports centers market.
In-depth analysis of the industry is conducted through market estimations of key segments for the period 2017 to 2023.
Competitive intelligence of leading manufacturers and distributors of fitness and recreational sports centers helps understand the competitive scenario across geographies.
Comprehensive analysis of factors that drive and restrain the growth of the market is provided in the report.
Extensive analysis of the industry is conducted by following key product positioning and monitoring the top competitors within the market framework.
The key players are profiled along with their strategies to determine the competitive outlook of the market.
KEY MARKET SEGMENTS