The Vietnam Fitness Services industry revenue has improved at a positive double digit CAGR during the period of 2013-2018. The market is placed is at mounting stage with high impending in future enlargement in both urban and sub urban locations. The entire addressable market across Vietnam for fitness services has been intensifying. Various factors subsidiary growth include substantial expenditure by establishments towards brand promotion activities & marketing comprising television advertisements, celebrity promotions, newspaper advertisement so as to conserve fitness centers reflectiveness, increasing health consciousness in populace especially within age grouping of (15-64) years. Whereas, the Saudi Arabia fitness services market has observed a tremendous growth during the past few years observing a strong double digit growth from 2012 to 2017. Speedily rising obesity rate, heart problems, and intensification in the consciousness about the personal health have boosted momentum to the market. Additionally, influences such as the collective pervasiveness of obesity amongst the youth, scaling up through franchising, snowballing urban population and mounting health concerns have propelled the fitness services market across Indonesia for numerous years during the past and this trend is projected to continue during the future.
By Region
The Americas province underwritten the uppermost revenue percentage share in the international market as the United States of America is the principal market of home healthcare with one of the most wide-ranging conventions overriding the wage-earners and has manifestation of a well-organized market. The Home Healthcare Market through European regions such as UK and Germany is also well structured and regulated, applauded by the excessive geriatric share of populace in such regions. The APAC region has the extreme growth rate due to the effervescent investment choices. However, MEA region has the bottom most share of revenue as the elderly populace is temperately lower across the region and laws distressing to home healthcare are not prevailing in most regions.
Competitive Landscape
The Australia Fitness Service market has principally been fragmented and organized in terms of revenue engendered. The market is dominated by the organized segment in view of the revenue, number of fitness centers and the number of gym members. The market is exceedingly concentrated across New South Wales, Victoria and Queensland with the intense competition. However, the competition across the UAE fitness services market has been decidedly fragmented as it has few foremost organized fitness service centers which have roughly fewer outlets along with numerous other fitness centers which are under category of unorganized fitness service centers. Foremost competition is being propelled through specialty in services and delivering the additional services such as swimming pool, in house juice bar, sports facility and several others along with marketing initiatives. Dependent on the Unorganized Fitness Centers Market, the Personal trainers have been another prime aspect for competition amongst the organized and unorganized fitness centers.
Market Future Outlook
Growth during the forthcoming period is anticipated to be supported by augment in the number of fresh entrants in the market, growth in household disposable income of the individuals, increase in populace under the age bracket 15 – 64 years and additional services suggest by the fitness service centers in the market. Not only has this, Fitness Products and Services Market Revenue states that the growing unhealthy eating habits, increasing demand for personal training, enlarging geographical presence of foremost fitness centers and expanding services portfolio will act as tailwind for market growth.
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Gym And Fitness Service Centre Market
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Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
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