PRODUCT NEWS
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| Ibisworld report: US health club revenue to hit US$30bn in 2016 |
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| 28 Nov 2016 . BY Tom Walker |
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| The report suggests revenue will grow further over the next five-year period |
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Market analyst IBISWorld predicts the US health club market to generate revenues of US$30.1bn (£24.2bn, €28.3bn) during 2016 – a 3.2 per cent annual growth on 2015 figures.
In its report – based partly on data provided by the International Health, Racquet and Sportsclub Association (IHRSA) – IBISWorld says the market has grown at an average of 2.1 per cent each year since 2011.
It predicts industry revenue to grow further over the next five-year period, as the “baby boomer” generation is expected to sign up for health club memberships as they grow more health-conscious due to their older age.
“Gym, health and fitness clubs have grown over the past five years, bolstered by public health initiatives that have shed light on the role of exercise in fighting diabetes, obesity and other health ailments,” the report states.
“The number of health club memberships has grown over the period, as more individuals have valued fitness as being integral to their health.
“Furthermore, population growth, particularly among individuals aged 20 to 64, which composes the largest gym-going demographic, has spurred demand for health club memberships.
There is also good news for budget club operators.
"Consumers are anticipated to increasingly substitute large, all-inclusive clubs for low-cost memberships, propelling industry revenue upward,” said IBISWorld industry analyst Andrew Alvarez.
To read the full report, click here.
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| seca TRU: Medical values for medical fitness |
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| Developed for the world of medicine, tailored to the needs of modern fitness studios. The
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