New York, NY (PRWEB) December 28, 2014 -- The gym, health and fitness clubs industry has weighed in on the recent marketing campaigns and consumer trends that have aimed to fight obesity and advocate for improved consumer health. In the five years to 2014, health club memberships have grown. According to IBISWorld Industry Analyst Sarah Turk, “While health club memberships have fared well over the period, they still declined in 2009, in line with many budget-conscious individuals terminating their memberships.” Further exacerbating this trend, time-strapped consumers became more prevalent, evidenced by individuals' time spent on leisure and sports remaining relatively stagnant, which has slightly constrained industry revenue growth.
However, from 2010 to 2014, many small, low-cost gyms with few amenities and month-by-month contracts have fared well when compared with high-cost, all-inclusive gym memberships. Furthermore, many health-conscious individuals have implemented fitness into their daily regimen, which has buoyed industry revenue. “Additionally, the number of adults aged 20 to 64, the largest gym-going demographic, has exhibited growth, which spurred demand for gym memberships over the period,” says Turk. As a result, in the five years to 2014, industry revenue is anticipated to grow, including revenue growth in 2014 due to more consumers valuing fitness to bolster their overall health and well being. Nevertheless, profit is expected to contract from, which can be attributed to many gym, health and fitness clubs offering memberships with low cancellation penalty fees, thereby cutting into profitability, particularly for gyms that had high attrition rates over the period.
Over the next five years, the industry will benefit from the burgeoning elderly population becoming increasingly active, which will result in many baby boomers signing up for health club memberships. Consequently, industry revenue is forecast to grow in the five years to 2019. Moreover, consumers will substitute larger, all-inclusive clubs for low-cost memberships, which is anticipated to propel industry revenue forward.
For more information, visit IBISWorld’s Gym, Health and Fitness Clubs in the US industry report page.
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IBISWorld Industry Report Key Topics
The gym, health and fitness clubs industry operates fitness and recreational sports facilities that feature exercise and other active physical fitness conditioning or recreational sports activities, such as swimming, skating or racquet sports. Operators are also involved in facilities management and fitness instruction.
Industry Performance
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
Products & Markets
Supply Chain
Products & Services
Major Markets
Globalization & Trade
Business Locations
Competitive Landscape
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
Major Companies
Operating Conditions
Capital Intensity
Key Statistics
Industry Data
Annual Change
Key Ratios
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.
Gavin Smith, IBISWorld Inc., http://www.ibisworld.com, +1 (310) 866-5042, [email protected]
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