Fitness and Recreational Sports center are places that have spaces and equipment that are desired by people for their recreational and fitness purpose. Gymnasium centers, and sports centers like football, basketball, rowing, and others are examples of places preferred by people for their leisure.
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Market Dynamics
Additionally, as per the latest report by IHRSA (International Health, Racquet, and Sportsclub Association), the number of health club visits has increased.The increase in the cases of obesity and its health problems increases awareness among people. According to a 2021 article by WHO, worldwide obesity has nearly tripled were overweight of which over 650 million were obese and most of the world's population lives in countries where overweight and obese is a greater killer than underweight. The global crisis has also compelled people to take their health more seriously.
However, the growth of the global Fitness and Recreational Sports Centres market is impacted by factors such as high costs associated with fitness equipment and high maintenance and operational costs of the facilities.
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Segment Analysis
The market is segmented based on the type, like gymnasiums, yoga, handball sports, racquet sports, skating, swimming, and others.
Among all of the types, gymnasiums have always dominated the market and are also expected to dominate the market for the forecast period despite the global pandemic. Its old association with fitness culture, popularity, and availability of a variety of equipment in one place make it the first choice for health-conscious people. According to a survey by Hindustan Times in India, 75% of people are going to return to pre-pandemic routine and actual gym, while also keeping the option of virtual assistant in case the pandemic persists for a long time. Likewise, similar cases are expected to be foreseen in the US, Canada, and European nations.
Competitive Landscape
The key players that influence the market are 24 Hour Fitness, Equinox, Gold Gyms, Plant Fitness, Lifetime Fitness, Town sports international, Konami Sports Club, McFit, CrossFit Inc, and David Lloyd Leisure Ltd. However, as of SEP 2020, the pandemic has compelled players like 24 Hour Fitness, Gold’s Gym, and Town Sports International to file for bankruptcy.
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