Rising disposable income and an increased number of people participating in exercise will foster growth for the personal trainers industry
Los Angeles, California (PRWEB) November 30, 2011
From 2011 to 2016, the Personal Trainers industry is projected to expand. An increase in disposable income and participation in sports will help drive the industry forward. According to a new report from IBISWorld, in the five years to 2016, revenue is forecast to increase at an average annual rate of 3.8% to $8.7 billion. In 2012, revenue will grow by 1.2% to $7.3 billion, as consumers spend more on discretionary services and former personal training clients return after a time of tight spending. For this reason, industry research firm IBISWorld has added a report on the Personal Trainers industry to its growing Wellness Services report collection.
According to a new report from IBISWorld, the nation’s largest publisher of industry research, from 2006 to 2011, the Personal Trainers industry has continued to expand. In the five years since 2006, revenue is expected to increase at an average of 1.0% per year; however this growth has not been steady. Prior to the recession, the fitness industry was thriving; many consumers had significant disposable income, so they chose to purchase personal training services to increase their physical well-being. However, when the economy took a downturn, many consumers reduced their spending and refrained from buying discretionary services, negatively affecting this industry. Nevertheless, when the economy started to recover, consumers slowly began to demand personal trainers again. In 2011, IBISWorld expects industry revenue to grow by 1.4% to $7.2 billion, as consumers loosen their spending habits and look to improve their physical fitness.
Aside from volatile revenue, the personal fitness trainers industry has experienced a shifted in its traditional business model to fit newer consumer preferences. For instance, more training fitness instructors are providing services to children as the rate of childhood obesity rises. Also, more baby boomers are demanding personal trainers as they begin to age; they are looking to improve their health to keep in shape at an older age. Lastly, the industry catered to consumers hindered by the recession by offering small group classes at a cheaper rate. This shift to small classes is expected to hurt profit margins slightly.
According to IBIS World analyst, Caitlin Moldvay, in the five years to 2016, industry revenue is projected to grow at an average annual rate of 3.8% to $8.7 billion. “Rising disposable income and an increased number of people participating in exercise will foster growth for the personal trainers industry,” says Moldvay. Nevertheless, with revenue rising, more personal trainers will enter the market; therefore, industry participants will likely offer specialized services to differentiate themselves. For example, more trainers will provide teaching on nutrition to improve the overall lifestyle of their clients.
As revenue increases, IBISWorld expects that the number of establishments will also grow. From 2011 to 2016, facility numbers will rise at an average annual rate of 3.8% to 65,412. In addition, employment numbers will likely grow as gyms hire more personal trainers, and industry participants open up their own businesses. Employment numbers are expected to increase by 3.4% to 282,577 workers in 2016.
For more information, download the full report from IBISWorld on the Personal Trainers industry
IBISWorld Personal Trainers Industry Market Research Reports Contains the latest industry statistics and industry trends, allowing you to identify the products and customers driving revenue growth and profitability. The industry report identifies the leading companies and offers strategic industry analysis of the key factors influencing the personal trainers market in the US.
About this Industry
Industry at a Glance
Key External Drivers
Industry Life Cycle
Products & Markets
Products & Services
Globalisation & Trade
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
Jargon & Glossary
Follow IBISWorld on Twitter: https://twitter.com/#!/IBISWorld
Friend IBISWorld on Facebook: http://www.facebook.com/pages/IBISWorld/121347533189
About IBISWorld Inc.
Recognized as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every US industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.