What is the Size of Belgium Fitness Service Industry?
Belgium Fitness Service market is growing at a CAGR of ~% in 2017-2022 and is expected to reach USD ~ Bn by 2027F.
The Belgium Fitness Service Market is largely driven by increasing health awareness, rising obesity rates, technological advancements, corporate wellness programs, fitness tourism, changing lifestyles, and government initiatives.
Belgium, like many other developed countries, has been experiencing a rise in obesity rates. This has created a greater demand for fitness services as individuals seek to lose weight, maintain a healthy lifestyle, and combat obesity-related health issues.
The integration of technology in fitness services has played a crucial role in driving market growth. Fitness apps, wearable devices, and smart equipment have made it easier for progress, set goals, and access personalized workout routines, thus enhancing the overall fitness experience.
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Belgium has a relatively high standard of living, and there has been a steady increase in disposable income among the population. This allows individuals to allocate a greater portion of their income towards fitness services, gym memberships, personal training, and other related activities.
The Belgian government has taken initiatives to promote physical activity and improve public health. These initiatives include campaigns, subsidies, and policies that encourage individuals to engage in regular exercise and fitness activities, leading to the growth of the fitness service market.
Belgium Fitness Service Market by market structure
The Belgium Fitness Service market is segmented by market structure into organized and unorganized market structure.
Organized fitness service providers such as gyms, fitness centers, and boutique studios have been on the rise, driven by increasing health consciousness and the demand for professional fitness services. These organized establishments offer a structured and well-equipped environment, diverse fitness programs that attracts more customers.
Belgium Fitness Service Market by gender
The Belgium Fitness Service market is segmented by gender into male and female.
The industry has experienced an increasing interest in fitness among individuals of all genders, reflecting a balanced participation and demand.
The market caters to the needs and preferences of both males and females, offering a wide range of fitness services and facilities to accommodate diverse goals and interests but in 2022 male still dominates the market.
Belgium Fitness Service Market by Revenue stream
The Belgium Fitness Service market is segmented by revenue stream into membership, personal training and supplementary services.
On the basis of revenue model, the membership segment exhibited the highest growth in Belgium fitness market. Memberships generally form the core revenue stream for fitness service providers, offering recurring income and long-term commitment from customers. While personal training and supplementary services contribute less to revenue, the membership segment often represents a larger customer base and consistent source of income also.
Belgium Fitness Service Market by subscription
The Belgium Fitness Service market is segmented by subscription into 1 month, 3 months, 6 months, 1 year.
3 months subscription plan has the highest share as it budgets friendly for new joiners.
Belgium Fitness Service Market by session type
The Belgium Fitness Service market is segmented by session type into group and solo.
In 2022, group sessions gained popularity in the Belgium fitness service market due to their ability to foster a sense of community, motivation, and social interaction among participants. Not only are group sessions cost-effective, but they also provide the opportunity to accommodate a larger number of individuals, making them attractive to a broader audience.
Belgium Fitness Service Market by Payment Method
The Belgium Fitness Service market is segmented by Payment method into Card, Cash, Bank Transfer, Digital wallet and Others.
the dominant segment in the Belgium Fitness Service market is the “Digital wallet” segment. Digital wallets provide convenience, security, and ease of use for both customers and fitness service providers. They allow seamless transactions and eliminate the need for physical cards or cash.
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Competition Scenario in Belgium Fitness Service Market
The Belgium fitness service market is growing due to heightened health consciousness among its urbanized and young population. It is witnessing competition between traditional gyms and emerging digital fitness platforms, both striving to offer personalized and diverse training programs. The market is fragmented, featuring a mix of local and international brands that provide a range of services, including group classes and premium wellness experiences. Urban areas exhibit greater concentration and competition, due to better accessibility and affordability. Meanwhile, rural regions remain relatively unexplored, presenting potential avenues for growth. As digitalization progresses and demographics evolve, market competition is expected to intensify.
What is the Expected Future Outlook for the Overall Belgium Fitness Service Market Across the globe?
The Belgium Fitness Service market was valued at USD ~billion in 2022 and is anticipated to reach USD ~billion by the end of 2027F, witnessing a CAGR of ~% during the forecast period 2022-2027F. The realistic growth scenario represents the most likely scenario as per current market conditions. This scenario assumes that there will be no overall impact on the market due to any potential COVID-19 waves in the future.
The Belgium Fitness Service market is driven by increasing health awareness, rising obesity rates, technological advancements, corporate wellness programs, fitness tourism, changing lifestyles, and government initiatives. However, the market is also constantly being influenced by rapid development in technology, product innovation, and diversification in some countries.
Belgium’s population stands around 11.5 million in 2023. A significant portion, nearly 65%, is aged between 15 and 64 years. This demographic, combined with a growing older population keen to maintain health and fitness, forms a substantial consumer base for the fitness industry which will led to market growth in the upcoming years.
With a GDP per capita of approximately $46,000 in 2023, Belgium ranks among the wealthiest countries in the world. High disposable incomes facilitate larger expenditures on health and fitness services, which will be a major growth driver for the market.
Belgium has a high urbanization rate, approximately 98% in 2023, resulting in easy access to fitness facilities and a propensity towards organized fitness services.
In Belgium, nearly 49% of adults were overweight or obese in 2023. This statistic is driving an increase in health consciousness, with many seeking fitness services to improve their health.
Belgium boasts an internet penetration rate of about 89% in 2023. This high connectivity provides a robust platform for online fitness services, including live-streamed classes and fitness apps.
Companies in Belgium are increasingly integrating wellness programs into their benefits packages. In 2023, approximately 40% of companies offered such programs to promote employee health and productivity.
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Belgium Fitness Service Market Outlook to 2027F
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