Are you a gym-goer? If so, you’re definitely not alone. With so many people currently working sedentary jobs, the fitness industry is booming! Individuals want to get in shape and maintain good health.
It’s a business empire, but just how big is it exactly?
How Big Is the Fitness Industry?
Fitness and exercise are vast and lucrative businesses. In fact, the global fitness industry revenue for 2020 was around $123.8 billion, with over 184 million active gym memberships worldwide.
Fitness Industry Statistics
Below are some fun fitness industry statistics that will give you insight into how the market operates. After all, before tackling those full-body workouts, exercising the mind isn’t such a bad idea.
The fitness industry is estimated to grow at about 8.7% annually.
This staggering growth makes the gym industry one of the fastest-growing sectors on the market. Fitness industry growth is also easily proven by the increase in the number of gym memberships globally and fitness apps in everyday life.
The pandemic helped fitness apps become more mainstream.
(RunRepeat) (Retail Insider)
During the pandemic, the virtual sector of the fitness industry thrived, generating more than $5.6 billion in revenue in 2020. This trend is expected to continue increasing and reach 66.32% growth by the end of 2021.
The Canadian fitness industry market size is currently $4.7 billion.
(IBISWorld) (Core List Canada)
According to data from CoreList, there were 16,275 gyms or fitness centers in Canada. Moreover, since 2017 this sector of the Canadian market has grown an average of 2.4% per year. However, this figure is expected to increase to 7.1% by the end of 2022.
As of October 2021, about 16.67% of Canadians had gym memberships.
(Retail Insider) (City News)
The number of gym-goers dropped due to the pandemic. Unfortunately, 32.8% of surveyed people canceled their gym memberships and weren’t planning to return any time soon. Furthermore, about 33% of people said they put their gym memberships on pause.
About 2.36% of the global population are gym members.
Sweden and Norway have the best gym demographics, making up 22% of the total number of gym memberships each. Ranking third on the list is the US with 21.20%. Germany is at the bottom of the list, with only 14% of total gym members.
We’ve come to the end of our quick overview of the fitness industry. Whether you’re considering getting a gym membership or aspire to open a fitness center, we’re sure there’s something useful for you to take away from this article. Good luck and stay healthy!