Gym Membership Market Expected to Reach $70.1 Billion by 2032—Allied Market Research

According to a new report published by Allied Market Research, titled, “Gym Membership Market," The gym membership market was valued at $48.5 billion in 2022, and is estimated to reach $70.1 billion by 2032, growing at a CAGR of 3.8% from 2023 to 2032.

Gym membership is a contractual agreement between an individual and a fitness facility, allowing the individual access to the gym's facilities and services for a predetermined duration. Gym memberships can be offered on various terms, such as monthly, quarterly, or annual subscriptions. Memberships often grant access to gym equipment, fitness classes, locker rooms, and sometimes additional amenities like swimming pools, saunas, and spa services. The gym membership model allows individuals to engage in regular workouts and participate in fitness programs, motivating them to maintain an active and healthy lifestyle.

The gym membership market has adapted and diversified its services to meet the changing preferences of consumers. The gym membership market has seen a significant increase in the number of boutique gyms and specialized fitness facilities that support specific niches and cater to individual exercise preferences. These establishments, which include yoga studios, CrossFit gyms, spinning studios, and high-intensity interval training (HIIT) centers, provide a wide variety of fitness options. The presence of these specialized facilities has broadened the market's appeal, attracting a more diverse audience of fitness enthusiasts.

Technological innovations in the fitness industry have played a significant role in attracting more individuals to adopt gym memberships. Advancements such as smart exercise equipment, wearable fitness trackers, and fitness apps have revolutionized the workout experience. These tech-enabled solutions have made gym workouts more engaging, motivating, and data-driven, fostering a higher adoption rate of gym memberships.

Additionally, the incorporation of corporate wellness programs into employee benefits packages by many companies has further boosted the gym membership market. Corporate initiatives often include gym membership subsidies or reimbursements, encouraging employees to prioritize their health and well-being. Such partnerships with gyms expand the potential customer base and contribute to overall market growth.

The COVID-19 pandemic has had a profound impact on the fitness industry, leading to the rapid adoption of remote and hybrid fitness models. Virtual workout classes and training sessions became popular during the pandemic and continued to thrive even as restrictions eased. The flexibility and accessibility offered by online fitness platforms have enticed more individuals to consider gym memberships, providing an added impetus to the market's growth.

The rise of social media platforms has significantly impacted the gym membership market. Fitness influencers and celebrities play a significant role in promoting a healthy lifestyle, workout routines, and gym memberships on various social media platforms. Their strong influence and wide reach have sparked heightened interest in fitness activities, inspiring individuals to consider gym memberships and actively participate in fitness-related endeavors.

Gym facilities and fitness centers are increasingly offering personalized and customized services to attract and retain members. This includes personalized workout plans, one-on-one training sessions, and tailored fitness programs to address individual goals and preferences. The focus on personalized experiences enhances member satisfaction and loyalty, contributing to market growth.

Moreover, the gym membership market's growth has been influenced by multiple factors, including increasing health awareness, preventive healthcare trends, specialized fitness offerings, technological advancements, corporate wellness programs, and the adaptation of remote fitness solutions. These dynamics have collectively fueled the demand for gym membership industry, making the market a vital player in promoting a healthier and more active society.

The gym membership market is segmented into type, application, age group, and region. By type, it is segmented into standard membership, premium membership, online membership, corporate membership, and others. As per application, it is divided into personal training, group fitness, cardio and weight training, physical therapy, sports specific training, and others. On the basis of age group, the market is segmented into 6 to 17 years, 18 to 34 years, 35 to 54 years, and 55 years & above. Region-wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, and rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia, and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, UAE, South Africa, and rest of LAMEA).

By type, the standard membership segment accounted for more than half of the market share in terms of revenue in 2022. Standard gym membership trends include personalized experiences through data analytics, and member engagement via apps and virtual classes. Integrating wearable devices tracks progress, enhancing satisfaction, which surges the gym membership market size. Moreover, the corporate membership segment is expected to grow with the highest CAGR of 6.2% during the forecast period. Major corporate gym membership trends include companies integrating wellness into benefits, providing discounts, and partnering with gyms, resulting in gym membership market growth.

On the basis of application, the group fitness segment led the market and accounted for nearly one-third of the global market in 2022. Group fitness sessions create a feeling of friendship and encouragement, connected with the social and motivational parts of fitness. Moreover, the physical therapy segment is expected to grow with the highest CAGR of 4.9% during the forecast period. In recent times, gyms and fitness centers have been increasingly incorporating physical therapy services into their offerings. This expansion provides members with access to specialized rehabilitation programs, personalized recovery guidance, and expert supervision.

Based on age group, the 18-34 years segment accounted for one-third of the global gym membership market share in 2022. In the 18 to 34 age group, trends include a preference for boutique fitness studios offering specialized workouts. This age group value technology integration, seeking apps for scheduling and progress tracking. Moreover, the 55 years and above segment is expected to grow with the highest CAGR of 4.4% during the forecast period. Gyms are offering specialized fitness programs tailored to the needs and abilities of individuals aged 55 and above, resulting in gym membership market trends.

Region wise, North America was the largest market in 2022, accounting for more than one-third of the total market share. In North America, key gym membership trends include the rise of advanced technology boutique fitness studios specializing in unique workouts and increased focus on virtual and online fitness offerings. Moreover, Asia-Pacific is expected to grow with the highest CAGR of 5.0% during the forecast period. The Asia-Pacific gym membership market is experiencing substantial growth due to urbanization, higher disposable incomes, and increasing awareness of fitness growing the gym membership market demand.

Some of the key players profiled in the market analysis include Pure Barre, Crunch LLC, Anytime Fitness Franchisor, LLC, F45 Training Holdings Inc., Burn Boot Camp, Dedicated SuperGym, Golds Gym Club Holding, LLC, Planet Fitness, Inc., Bev Francis Powerhouse Gym, and XSport Fitness.

KEY FINDINGS OF THE STUDY   

• By Type, the standard membership segment was the highest revenue contributor to the market in 2022 and is expected to grow at a significant CAGR during the forecast period in the gym membership market analysis.
• By application, the group fitness segment was the highest revenue contributor to the market in 2022 and is expected to grow at a significant CAGR during the forecast period.
• By age group, the 18-34 years segment was the highest revenue contributor to the market in 2022 and is expected to grow at a significant CAGR during the forecast period.
• By region, the North America region was the highest revenue contributor to the market in 2022