Los Angeles, CA (PRWEB) December 09, 2013
The Pilates and Yoga Studios industry experienced robust growth over the past five years and from 2008 to 2013, revenue is estimated to grow. Interest in yoga and Pilates has soared over the past two decades, driven by fitness trends and rising awareness of alternative health practices in the United States. Revenue has continued to grow during the period, due to expansion into new geographic and consumer markets. Furthermore, while the majority of yoga and Pilates participants are women, participation rates among men have increased over the five-year period, aiding industry growth. In 2013, the industry is expected to continue this upward trajectory, with revenue expected to increase.
According to IBISWorld Industry Analyst Caitlin Newsom, “In response to rising consumer interest, the number of studios offering classes has proliferated over the past five years.” Consequently, during this period, the number of industry studios is expected to rise. This growth has been a result of the increasing popularity of Pilates and yoga among the US population. Over the past decade, yoga participation has increased about five times, according to data provided by the Sporting Goods Manufacturers Association. Pilates has experienced similar progress, increasing about four times according to the latest available data. Moreover, average profit margins have expanded over the past five years and have grown partially because of an industry-wide trend away from donation-based classes to standard class pricing. Additionally, the growing status of yoga and Pilates has led to larger class sizes, another factor favorably affecting margins. Membership payment plans have also become more prevalent, stabilizing revenue for industry operators.
Market share concentration within the industry is very low, with the top four companies (CorePower Yoga Inc., Dahn Yoga and Health Centers Inc. and YogaWorks Inc.) and including accounting for less than 5.0% of revenue in 2013 (see IBISWorld report OD4185 for major player market shares). The Pilates and Yoga Studios industry is highly fragmented and most players operate a single location that caters to a narrow local market. Looking ahead, over the five years to 2018, “industry revenue is projected to rise, as improving economic conditions will result in greater per capita disposable income growth, aiding demand for lucrative private instruction classes,” says Newsom. In addition, the Pilates and Yoga Studios industry will benefit from increasing demand from the baby boomer generation. The trend will be partly influenced by population growth and demographic factors, given that yoga and Pilates are most popular among baby boomers since they are a low-impact form of exercise.
For more information, visit IBISWorld’s Pilates & Yoga Studios in the US industry report page.
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IBISWorld industry Report Key Topics
The Pilates & Yoga Studios industry comprises facilities that offer Pilates and yoga instruction to individuals or groups. Pilates is a body conditioning routine used to build strength and flexibility, while yoga is a physical and spiritual practice focused on breath control, flexibility and also strength. This industry does not include Pilates and yoga classes taught at gyms or other health club centers.
Key External Drivers
Industry Life Cycle
Products & Markets
Products & Services
Globalization & Trade
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
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