GURUGRAM, India, September 19, 2018 /PRNewswire/ --
Rising health awareness, diversifying services portfolio with new value added services in the organized sector, increasing health problems including diabetes, obesity, stress and others, establishment of new fitness centers by international players and rising demand for personal training services will be the key factors driving growth inKuwait fitness service market.
Kuwait urban population has increased at a steady pace over the review period with a CAGR of 4% during 2012-2017. Coupled with increasing percentage of females in the overall population, there has been a significant shift of preference towards female specific fitness centers. This has led to increase in the number of female specific gyms in Kuwait. The major regions that have been benefitted by this increasing demand include Hawalli, Al Asimah and Al Ahmadi. These three regions have accounted for close to 85-90% of the total number of fitness centers in Kuwait in 2017. Unorganized Sector has been the biggest contributor in terms of revenue. Major unorganized players have been Studio X, Alta Fitness, Hero Gym, Steam Gym, Physique, La Femme, iFitness, VIE Fitness Studio and 20 7 Fitness Studio.
Players operating in the fitness market have consistently adopted innovative marketing strategies in order to gain a competitive advantage. Fitness centers have regularly involved themselves in promoting gym services not only amongst higher income groups but also in middle income groups through adjusting their pricing policies. The fitness centers in Kuwait have started providing all inclusive memberships that allow its customers to avail the gym facilities at any branch in Kuwait. They have been providing cheaper renewal options and include one to two months membership free in the long term packages to attract customers. These enhanced options have led to increase in the membership of fitness centers in Kuwait. Another growth driver for Kuwait fitness service market has been the new Public-Private Partnership (PPP) law passed in mid-2014. The new PPP Law and the implementation of its regulations resolved a number of challenges that were present under the previous regime. This new law provided more ease of doing business in Kuwait and streamlined PPP landscape to flourish and helped increase the number of fitness centers in Kuwait because all fitness centers in Kuwait are required to have a local partner.
The increasing demand for personal training has provided a major boost to the Kuwait fitness service market and generated revenue of around 20% in 2017.
This Kuwait fitness service market size has grown at a CAGR of close to 6% during 2012 to 2017 in terms of revenue. Kuwait City and Hawalli have been the major regional clusters in 2017. The major players have been Fitness First, Al Corniche, Palms Beach Club and Circuit Plus amongst others. Increasing demand for value added services, expanding fitness centers, diversification of services portfolio and increase in health awareness and consciousness have been the major contributing factors.
The report titled "Kuwait Fitness Service Market Outlook to 2022 - by Revenue Stream (Gym and Personal Training), by Region, by Gender, by Membership Subscription, by Organized- Men's Gym, Women's Gym, Mixed Gym, CrossFit and Unorganized" by Ken Research suggested a growth at a CAGR of close to 9% in revenue of Kuwait fitness service market by 2022.
Key Segments Covered
- Market Segmentation by Market Structure (Organized & Unorganized)
- By Revenue Stream
- By Membership subscription
- Number of Centers
- Market Segmentation By Gender (Male & Female)
- Market Segmentation By Revenue Stream (Membership Subscription & Personal Training)
- Market Segmentation By Membership Subscription (12 Months, 6 Months, 3 Months and Others)
- Market Segmentation By Region
Key Target Audience
- Men's Fitness Service Centers
- Women Fitness Service Centers
- Mixed Fitness Service Centers
- CrossFit Centers
- Major Fitness Equipment Manufacturers
Time Period Captured in the Report:
2012-2017 - Historical Period
2018-2022 - Future Forecast
Kuwait Organized Fitness Services Providers:
- Fitness First
- Flex Fitness
- Ras Al Salmiya
- Orange Theory Fitness
- Rush Gym
- Circuit plus
- Spark Athletic Center
- Al Corniche
- Palms Beach Club
- Inspire Fitness
- Oxygen Gym
- Active Fitness
- Platinum Gym
- Peak Fitness
- Sweat Studios
- Pilates And More
- Flare Fitness
- Desert Fitness
Kuwait Unorganized Fitness Services Providers:
- Alta Fitness
- Hero Gym
- Steam gym
- Studio X
- Trim Club
- Marina Fitness Center
- Jumeriah Fitness Center
- La Femme
- Hype Gym
- Gold's gym
- Lady Power
- Keep Fit Gym
For more information on the research report, refer to below link:
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Ken Research Private Limited
Ankur Gupta, Head Marketing
SOURCE Ken Research