According to Statista, the global fitness industry is worth $96.7 billion in 2022. It took a global pandemic to slow its growth.
And if research is to be believed, it’s going to grow another $35.2 or so by 2028, bringing the total to $131.9 billion (=£115 billion pounds).
Of all of the fitness activities, the one that brings more value is “Gyms and Health Clubs”.
Gyms and health clubs have seen an increase in people in the last few years.
One of the main reasons is the introduction of pay-as-you-go schemes. How people use the gym now is very different than it used to be.
We are looking at a revolution on par with how people feel about fitness.
Why is the fitness industry worth £90 billion?
Here are some of the best reasons for it.
Fitness and physical exercise are not new.
To claim that fitness is some new, innovative concept is a little misleading.
Anyone in their right mind knows that sport and fitness are good for your mental and physical well-being. In fact, the earliest mentions of fitness as a discipline are from the ancient Greeks.
So, what changed? As it turns out, there are three big reasons why fitness became a £90 billion global industry.
According to WHO, 2.8 million people die each year as a result of being overweight or obese.
Obesity also reduces life expectancy and increases the chance of other diseases such as cancer, heart disease and diabetes.
The ones who take care of their health and physical well-being are the ones who fight obesity and can enjoy a longer life.
Such as those doing a regular activity, either at the gym or with some type of sport.
A lazy lifestyle doesn’t work. You must focus on being active and motivated when it comes to your physical activity.
For a while, people were focussing on improving their lifestyles with better-paid jobs. Then jobs became sedentary and our bodies started to take a hit. Once we introduced fast food and junk food to our diet, we also added lots of unhealthy food to an already sedentary lifestyle.
In the last few years, we realized that if we want to live healthier and longer, we need to play a very active role in taking care of our bodies.
High value, low-price (HVLP) gyms are gaining members as a result of their affordable membership fees, which are often in the £10 to £20 per month range, and their value for money in terms of amenities, classes, and equipment.
Budget gyms have been around for a while, but this new generation of HVLP gyms often outperforms the more seasoned budget competitors in terms of the range of exercise machines and classes they offer, as well as the all-inclusive price structure.
Boutique studios have also been expanding rapidly around the nation, while they have a less significant influence but are nonetheless significant. These studios are often extremely specialized and tiny.
There is a boutique studio for every type of exercise, including spinning, circuit training, barre, Pilates, and high-intensity interval training.
Additionally, they are often more expensive, costing from £20 and £50 every lesson, or £150 and £200 per month.
For a long, workout sessions have been streamed here and there, but they are now finally becoming popular also thanks to the recent pandemic.
That’s fantastic news for those of us who lead hectic lives, which pretty much sums up all of us.
Contrary to popular belief, virtual fitness enthusiasts frequently also keep a membership at a health club or studio.
You would believe that those who stream exercise sessions have disintermediated the gym itself. But that’s not true.
Fitness is profitable because it has a lot of benefits for people. It helps both psychologically, with an increase in self-esteem and physically, with an increase in good health.
If you do fitness regularly, you’ll also make friends and enlarge your social bonds without too much effort.
Of course, those things are only part of the reasons why fitness is so profitable. Here are 2 more reasons.
Employers and insurers have finally learned that encouraging healthy lives may reduce insurance costs since healthy individuals are far less expensive to cover.
The fact that health care spending keeps rising is significant for every company’s bottom line and fantastic for those who get to gain from the incentives.
As long as an employee can demonstrate that they really use a health club membership or studio sessions, many companies and insurers now pay for them.
This market niche is expanding extremely quickly.
There is almost no point in doing exercise and fitness regularly if your diet is not good.
Consumer demand has been shifting away from industrially produced processed food in recent years in favour of healthier, more natural, and/or organic alternatives.
This change is making us more aware of what we consume, which has increased interest in fitness as a side consequence.
It’s not hard to see why fitness is worth £90 billion in 2022. It has lots of benefits and it’s impossible to fake.
There has never been a better time to invest in fitness for your career and for yourself.
And here at Future Fit, we can teach you how to become a personal trainer or start your career in any other way.