Kuwait Fitness Service Market is Driven by Growing Number of International Players, Diversifying Fitness Services Portfolio, Increasing Obese Population and Increasing Focus on Personal Training: Ken Research
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 playersand 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 provides a comprehensive analysis of fitness services market genesis and overview, market ecosystem, market structure, market size, and market segmentations by Market Structure (Organized and Unorganized), by Subscription Period (1month, 3 months, 6 months and 1 year), by Region (Dubai, Abu Dhabi, Sharjah and others), by Revenue Stream (Membership Fee and Personal Trainer Fee) and by Personal Trainer Market Structure (Organized and Unorganized). The report profoundly covers major market growth drivers, market trends and challenges, snapshot on personal trainer market, snapshot on other fitness services market, customer profile in fitness services market (by gender and by fitness level), Target profile of personal trainers (by gender, by experience, by major nationality and by annual salary), decision making parameters for a customer to choose fitness center, major pain points faced by customer for a fitness center and SWOT analysis. Competition landscape, competition nature, major competition parameters and company profile of major players (Fitness first, Gold's Gym, Lifeline Wellness, Target Gym, Fitness 360, Fitness Time, Fitness Terminal) have been given prime importance.
The report covers market size by organized and unorganized fitness services providers along with market segmentation by revenue stream (membership subscription and personal training), by market structure (organized and unorganized), by region (Riyadh, Makkah, Madinah, Dammam, and others including Tabuk, Asir, Hail, and Jizan), by gender (male and female), and by membership subscription (12 months, 6 months, 3 months and others including 1 month and 2 months). It also includes market size (by revenue, membership and number of fitness centres), emerging trends and developments, issues and challenges, customer pain points and decision making parameters, investment model, and competitive landscape of players in organized sector including Fitness First, Gold's Gym, Fitness Time, World Gym, Active Time, Arena MMA Fitness, Bodyline VIP center, Central care, Al Manahil, Al Multaka, Interval Plus CrossFit, NuYu, Curves, Spectrum Wellness for Women, Kore, Lava Fitness, Glow Fit, Kinetico, Fit Zone, Pulse Studio, Studio 55, 9 Round, The Power Gym, Body Masters, Muscles Factory, and Fitness Maker.
The report provides a comprehensive analysis of the Fitness Industry in Indonesia. The report covers various aspects such as market size of the fitness services market revenue in terms of number of fitness clubs, personal trainers and subscribers. The segmentation on the basis of market structure - organized and unorganized, top cities, services offered, total area and subscription charges. The report also covers fitness equipment market revenue and segmentation based on end user and type of fitness equipment - cardiovascular and strength training. In addition to this, the report also covers the customer profile in the fitness services market and segmentation on the basis of gender, age, fitness level and income of the consumer.
The report presents a comprehensive analysis of fitness services and equipments being used in the country by revenue along with the market segmentation by pricing, organizational structure, city-wise concentration for fitness services and by end users, type of equipments, origin for the fitness equipments, growth drivers, and competitive scenario of major players in the India Fitness Services and Equipment Market.
Contact Us: Ken Research Private Limited Ankur Gupta, Head Marketing Ankur@kenresearch.com +91-9015378249