Gym Market
Delivered July 30, 2019. Contributor: Hillary O.
Goals
To understand the market size of the gym industry and the key leaders in market for a possible investment in a new gym concept.
Early Findings
GLOBAL
- The global market size of health clubs was about $87.2 billion in 2018. At the time, it was reported that there are over 201,000 health clubs globally with 174 million members up by 20 million members since 2017.
- Based solely on revenue, the largest health club operators worldwide include LA Fitness ($2.1 billion), Konami Sports & Fitness ($2.02 billion
), Life Time Fitness ($1.55 billion
), 24 Hour Fitness ($1.44 billion
), Anytime Fitness ($1.45 billion), and
Equinox ($1.3 billion
).
- The largest fitness franchises include Planet Fitness, Orange Theory, and Jazzercise.
US
- The US has the "world’s largest health and wellness market." Its market size for health clubs is roughly $32.3 billion.
- The US has the most health clubs worldwide with 39,570 health clubs like 24 Hour Fitness in the country.
- In the US alone, there are 62.5 million gym members as of 2018 compared to 60.9 million in 2017.
- US health clubs serve about 71.5 million consumers.
- In the US, the largest gym chains are LA Fitness, Life Time Fitness, and 24 Hour Fitness.
- A study done by IHRSA revealed than more than 1 in 5 Americans "belong to at least one U.S. health club or studio."
- Of note, the aforementioned data is specific to health clubs alone and does not factor in boutique studios, recreation centers, and gym in hotels or other locations.
Research proposal:
Only the project owner can select the next research path.