Fitness Industry Award 2023 – Thanks to vaccinations and a slightly milder strain of Covid-19, the fitness market is growing again. The sector was reformed at a rapid rate for several years before the epidemic suddenly stopped. In our fitness insight, the situation before the outbreak of Corona; We look at the changes that are driving this and the trends that the fitness industry will follow in 2023.
C) Fitness Apparel D) Wearables and Fitness Programs D-1) Wearables D-2) Fitness Programs E) Nutrition and Supplements E) 2021 Trends
Fitness Industry Award 2023
“Health associations recognize that our data plays an important role in promoting and maintaining consumer health,” said Jay Abundi, executive vice president of global products for the International Health, Racket & Gym Association (IHRSA). Protecting and promoting the health and fitness industry. U.S. Summarizing the insights from IHRSA’s Fitness in the Age of Covid Consumer Report, he continued, “With 70 percent of members relying on their gyms to stay healthy, Americans are getting back to exercising. They seek to maintain and improve. Habits – Their gyms are safe. Nothing more than believing that it is easy and pure. There is no other option. “
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The study found that athletes look forward to getting back to their gyms – and are at least one factor (95 percent) in getting fit in their gyms. In fact, Americans miss visiting loved ones (65 percent) more than visiting (59 percent)—a concert or a game (55 percent). bars, restaurants (51 percent); or watching a movie in the cinema (46 percent).
These data confirm the important role of fitness and exercise in the lives of many people. The main reason for this is to increase their awareness of health and fitness. Government initiatives to promote healthy lifestyles and increase obesity; Because day by day, obese people fight their disease with regular exercise.
To dig deeper, let’s take a look at the state of 5 key segments of the fitness market before the pandemic: Gyms; body beauty equipment fitness apparel, wearables and apps; and nutrition; Drinks and supplements.
In the pre-Covid era, gyms around the world have been steadily booming. According to the IHRSA Global Report 2020, the global health and fitness club industry will generate revenue of $96.7 billion in 2019, compared to $67.19 billion in 2009. There are 205,180 health and fitness clubs (128,502 in 2009). With 184.61 million members worldwide (119.53 million in 2009).
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IHRSA reports that the United States has the highest membership (64.2 million). It also notes that it leads all markets in terms of buildings (41,370) and revenue ($35 billion). Germany is second with 11.7 million members, followed by Brazil with 29,525 health centers. Germany and the UK are second in industry revenue as each market generated around $6.2 billion in 2019.
In a recent survey, Business Insider, in partnership with SimilarWeb, has identified the 15 fastest-growing fitness companies of 2020 in terms of digital trends. “While boutique gyms and studios are going out of business, some digital fitness brands and websites like Peloton and FringeSport are seeing growth. While affiliates like Flywheel, Gold Gym, 24 Hour Fitness and YogaWorks have filed for bankruptcy during the pandemic, data from March 1 specifically announced. Ranks the top 15 best-performing brands based on average monthly traffic growth over the year.” Schwinn, known for its indoor cycling bikes, ellipticals, treadmills and rowing machines, ranked third with an average of 248,000 monthly visits. This site has grown by 472.5% compared to last year. The second was Tonal. An indoor strength training machine that uses magnets. And power for changing resistance (383,000 / +604%), PowerBlock, the manufacturer of adjustable dumbbells, showed the fastest growth (211,000 / +648.1%).
This data is the second part of our fitness market overview. elliptical machines; Treadmills and strength training equipment, such as exercise bikes or stair climbers, lead directly to cardiovascular training equipment. Stairs, extenders or power strips. Market of gym equipment for fitness and health clubs; The home and institutional sports equipment market is divided into companies and hotels.
According to a report published by Allied Market Research, “Fitness Equipment Market by Type; and end user: global opportunity analysis and industry forecasting. According to a report titled “2020-2027”, the global fitness equipment market size will be $11.5 billion in 2019. to reach 15.2 billion dollars by 2026. As per the forecast, a CAGR of 3.5% will be recorded from 2020 to 2027.
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In its “Fitness Equipment Market Size” report; Global Market Insights points to similar figures. “The fitness equipment market size was valued at $12 billion in 2019 and is expected to grow at a CAGR of 4% between 2020 and 2026.” They also predict that the fitness equipment market will decline slightly in 2020 due to the coronavirus (COVID-19) pandemic. Many fitness equipment manufacturers are offering home fitness equipment in the market, which shows that many companies have reacted to the new situation.
Key companies in this field include Life Fitness and Cybex International, owned by KPS Capital Partners (2018 revenue: $1 billion, after sale to KPS); ICON Health & Fitness (2019/20 revenue: $1 billion); Nautilus (2019 revenue: $309.3 million) and Peloton Interactive (2020 revenue: $1.826 billion); All are in America. Additionally, China-based Anta Sports Products Ltd (2018 revenue: $378.8 million, later sold to Anta, revenue not disclosed). Precore is owned by Amer Sports owned by Dyaco International. (Taiwan revenue, 2019: $191.72 million), Johnson Health Tech (Taiwan, 2019 revenue: $831.46 million); Nantang Yida Sports (China); Northern Lights (Canada revenue, 2019: $26.09 million) and Schnell Trainingsgeret (Germany). Another strong player is Technogym (Revenue Italy, 2018: $668.9 million).
A major beneficiary of the Covid-19 pandemic is Peloton Interactive: The pandemic boosted demand for fitness equipment, as the company’s shares rose 8% in extended trade, Reuters reported. The income of the year passed Wall Street. expectations.”
Fitness clothes are clothes that are worn when working out in the gym or performing such physical activities. ease of travel; Mainly polyester, as comfort and breathability are their main functional benefits. Made of microfiber or spandex.
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The big players don’t release specific figures for the segment in their reports, so it’s impossible to know how much individual brands make from fitness apparel. But in general you can see how much you can earn with sportswear.
In addition, there are no bulls in the world, Gymshark, Velaco, Outdoor Sounds, Alphalet, Running Halter Apparel, Woori Apparel, Echt Apparel, the champion of many smaller brands around the world with bisexual products such as RYU Apparel. Scott Greg riding dressage, my protein, Elite Eleven Sporting; Better Body Toho Fit, Omega Fitness 2XU, Legends, International Virus or Macron
Ron Clothing, Jim Tops Oliver Clothing; Leo River, the four-round boho man, leading apparel, Y Some brands, including IWO or SQDAthletica, specialize only in fitness apparel for men.
In addition, Varley also carries many women’s specific brands such as Coral Active Wear, P.E. Squat Fitness Clothing Nation, Curve Envy Fitness, Lexi’s Love Fitness, Lisi Fit or Michi NY.
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Fashion brands such as lingerie specialist Victoria’s Secret have their own fitness wear with their EA7 line.
According to Statista’s “Digital Market Outlook” survey; The digital fitness sector is expected to reach $22.5 billion in revenue by 2020. The product consists of two parts: on the one hand, it is portable. Connected fitness devices (“wearables” excluding smartwatches), and digital fitness and nutrition apps for use with smartphones and/or tablets (“Apps”).
Wearables are defined as “devices expressly intended for fitness. In particular, fitness wristbands are equipped with sensors and activity trackers that measure and analyze the wearer’s physical activity and performance. It also includes smart clothes and glasses.
In the Statista report, under the apps section, “Fitness and nutrition apps e.g. calorie counter; Nutrition diaries and applications to track/track/analyze and share fitness activities and achievements. Revenue statistics include downloads of paid apps. Includes premium/full version and in-app purchases only.
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Wearables are the largest market segment with an estimated market size of $18.9 billion by 2020, while the apps segment is expected to reach $3.5 billion. As health and lifestyle awareness has become a mainstream in modern society, personal activities are driving demand in the wearables and fitness app market to some extent, but paying app user numbers, the analyst noted. It is still very slow. The report emphasized that many mergers and acquisitions are taking place. For example, Adidas bought Runtastic and Under Armor invested in MyFitnessPal.
Statista’s “Digital Market Outlook” shows global fitness app revenue.
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