Market Overview
The Vietnam Fitness Services industry revenue has observed at a constructive double digit CAGR during the period of 2013-2018. The market is placed is at increasing stage with extraordinary potential in future extension in both urban and sub urban areas. The over-all addressable market across Vietnam for fitness services has been getting higher. Several influences supporting growth include substantial expenditure by companies towards the brand promotion activities & marketing comprising television advertisements, celebrity promotions, newspaper advertisement so as to continue fitness centers visibility, growing health consciousness in populace especially within age category of (15-64) years. In addition, dependent on Men Gym Fitness Services Market, the increasing disposable income, growing awareness on the topic of obesity and to overcome health issues such as diabetes, hypertension and cardiovascular syndromes have been the foremost factors which have driven the requirement for the fitness services centers across Vietnam. However, the Australia Fitness Service Market has observed the strong growth owing to augmenting proportion of ghoulish population, effective augmentation in health consciousness amongst the adults, growth of household disposable income, exchanging lifestyle and fashion trends, advanced marketing strategies being instigated by the major fitness centers across the country, higher requirement for fitness services by women and the upward number of penetration of international brands around the country.
By Region
The New South Wales has registered for the maximum number of the fitness centers apprehending more than one third of the total number of gyms across Australia since it is the most occupied state across Australia. Victoria has the next uppermost percentage share for number of gyms in it. The Australian Capital Territory, Tasmania and Northern Territory have a subordinate percentage share in terms of number of gyms. Whereas, Fitness Products and Services Market Analysis states that Riyadh has registered for the maximum number of the organized fitness centers in KSA, mainly for being the commercial capital of the region. It is followed by the Makkah mainly owing to the urban and wealthy populace live across this region. Foremost fitness centers place high predilection to location around such two provinces. Such regions are followed by Dammam and Medinah during 2017. Other regions involve Tabuk, Asir, Jawf, Hail, and Jizan. In addition, across South Africa, the majority of the fitness centers have been accounted around Gauteng province. This province is shadowed by KwaZulu-Natal which has the second-highest amount of fitness centers across the country. The least amount of fitness centers have been accounted across the province Free State and Northern Cape.
Future Overview
In the long run, it has been projected that the Fitness Service market would register an effective growth at a single-digit CAGR throughout the period of 2018 to 2023. The growth would be at an effective rate during the next five years owing to a recession and low economic situation of the customers. Growth throughout this period is projected to be supported by the augment in the number of fitness centers in the untapped regions, growth in customer spending, augment in population under the age bracket 15 – 44 years and boost in the personal training services suggested by the fitness service centers in the market.
For More Information, refer to below links:-
Fitness Club Market Research Reports
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Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249
