The Indian fitness industry is poised to grow exponentially in the years to come. It is expected to grow at 9.3% CAGR (compounded annual growth rate) between the years 2018 to 2022. Currently, the Indian fitness market amounts to USD 908 Million. The key factors accelerating growth in the fitness industry are, increase in disposable income between the age of 20 to 45 years, increased number of health ailments, lifestyle diseases, the spike in health clubs and gym memberships. Earlier going to the gym was considered luxurious but not anymore. There is also a rise in a number of people looking for wellness and fitness solutions especially in the body-building space among young men and strength and cardio training among women in tier II and tier III cities.
So why investing in fitness business today looks so lucrative?
Let us explore them below:
Fitness World offers ample career opportunities for fitness trainers, athletic trainers, sports and fitness nutritionists, recreational therapists, strength and conditioning coach, sports physician and many more.
Today’s experts advice on commercial gym setup services are easily available to help you plan gym designs and layouts, best business practices, the supply of commercial fitness equipment and guidance on its maintenance.
Many corporates, hospitality industry, residential complexes have a great demand for fitness amenities, gyms, health clubs and have almost become a standard norm not only in tier I but also in tier II cities. There is an increasing demand for home gym equipment sold through online portals, mobile apps among consumers today. It is also worth noting that a large portion of the fitness revenue is also driven by consumption of fitness wearable.
Easy access to gym trainers, fitness experts, online fitness videos, dieticians and nutritionists has enabled consumers to seek advice easily and lead healthier lives.
Today social media has a large influence on the youth and hence businesses are using the platform to sell their fitness products and services to gain huge revenue. Social media platforms are flooded with pictures of people exercising, cycling, mountaineering, doing yoga, attending marathons, in order to gain popularity among their peers.
Fit India Movement has been gaining popularity in India and Bollywood celebs are being roped in to create awareness and educate people on the importance of regular physical exercises. Many celebrities are even launching their own line or brand of fitness wear, gym, and nutritional products.
The fitness business is also seen as a ‘recession free business’ that is unaffected by any seasonal or market changes. Along with developers and researchers innovating new engineered training equipment, people are becoming aware of the merits of exercising regularly to reduce stress, anxiety, depression, obesity to keep diseases at bay.
Digitization and fitness awareness have allowed Indian consumers to easily access technology-driven services and products. Global companies and home-grown businesses have given rise to newer business models and revenue streams. This is a positive sign that the industry is trying multiple avenues towards growth and development.
All these factors are leading to a bright future for India’s fitness industry and a healthy lifestyle for consumers.
Check out the recent gym installations done by Fitness World.