Portland, OR, Sept. 03, 2020 (GLOBE NEWSWIRE) — As per the report published by Allied Market Research, the global fitness and recreational sports centers market generated $83.68 billion in 2016, and is expected to reach $113.12 billion by 2023, growing at CAGR of 4.4% from 2017 to 2023.
Shift in consumer preference toward wellbeing, increase in obesity problems, growing middle-class population, and government support for health & fitness have boosted the growth of the global fitness and procreation sports centers market. Moreover, availability of variety of equipment & personalized fitness training program supplemented the market growth. However, high investment cost for opening fitness & recreational sports centers, high membership price, and busy work schedules hamper the market. On the contrary, the growing youth population in developing countries, businesses are innovating to expanding base of consumers, and acquisitions & expansions in the Asia-Pacific region are expected to create lucrative opportunities for the market players.
In-depth analysis of the COVID-19 impact on the Fitness and Recreational Sports Centers Market@ https://www.alliedmarketresearch.com/request-for-customization/4265?reqfor=covid
- As governments of several countries have imposed lockdown, the fitness and recreational sports centers are temporarily closed to control the spread of the Coronavirus.
- However, some countries have started to lift the lockdown, which may give opportunities for these sports centers to get back on track.
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The global fitness and recreational sports centers market is segmented on the basis of type, age group, and geography. Based on type, the market is divided into gymnasiums, yoga, aerobic dance, handball sports, racquet sports, skating, swimming, and others. The gymnasium segment held the largest share in 2016, accounting for more than one-fourth of the market. However, the handball sports segment is expected to manifest the highest CAGR of 6.1% during the forecast period.
Based on age group, the market is categorized into 35 & younger, 35-54, and 55 & older. The 35 &younger segment dominated in 2016, contributing to nearly half of the market. However, the 35 to 54 segment is expected to manifest the highest CAGR of 5.1% during the forecast period.
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The global fitness and recreational sports centers market is analyzed across various regions including Asia-Pacific, North America, LAMEA, and Europe. The market across North America held the largest share in 2016, contributing to more than one-third of the market. However, the market across LAMEA is expected to register the highest CAGR of 5.8% during the forecast period.
The global fitness and recreational sports centers market report includes an in-depth analysis of the major market players such as 24 Hour Fitness, Gold’s Gym, Life Time Fitness, Fitness First and Virgin Active, Konami Sports Club, Equinox, Planet Fitness, Town Sports International, McFit, and CrossFit Inc.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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