South Africa Fitness Services Industry Revenue is Expected to Reach Over USD 580 Million by the Year Ending 2023: Ken Research
29 Aug, 2019, 15:10 BST
GURUGRAM, India, Aug. 29, 2019 /PRNewswire/ --
- The disposable income of the South Africans is witnessed to increase from ZAR 2.9 Million in 2018 to ZAR 4.1 Million in 2023, at a CAGR of 6.9% during the review period 2018 to 2023. This will positively impact the membership subscriptions of the fitness industry in the coming five years in South Africa.
- The boost in the economically active population, falling in the age bracket 15 to 44 years, is anticipated to increase to 18.5 Million by 2023 from 16.5 Million in 2018.
- In future, it is anticipated that the obese population in South Africa will increase at a CAGR of 7.3% during the period 2018-2023E.
Rising Penetration of the Digital Fitness Training: The technological advancements have made it convenient for the clients to maintain themselves updated with the fitness regime which is being followed at their fitness clubs. For Instance, Virgin Active, GO Health Gym, Ritual Gym, Yoga Experience are few of the fitness clubs who have their own App which can be used by the members to track their fitness training, sync cardio screen results, find the clubs using GPS locator, check timetable or schedules and book slots accordingly. This encourages the members and helps in improving the membership retention rates of the fitness gyms.
Boost in the Number of Fitness Centers in the Untapped Regions: In future, the provinces such as Gauteng, KwaZulu-Natal and Western Cape have a huge scope in terms of expansion of the fitness centers in the country. Gauteng is a commercial hub in the country. Western Cape and KwaZulu-Natal are tourist destinations due to which the population of the expatriates is expected to increase in these provinces. Membership penetration is expected to rise in the fitness market in South Africa by the year ending 2023.
Increasing Focus towards Female Centric Fitness Centers: The increasing focus towards establishing women specific fitness centers will pose a positive impact on female penetration in the fitness industry in South Africa. The female population participating in the fitness gyms in South Africa is expected to register a positive single digit CAGR during the review period 2018 to 2023.
Analysts at Ken Research in their latest publication "South Africa Fitness Service Market Outlook to 2023 – By Market Structure (Organized and Unorganized), By Revenue Streams (Membership Fee and Personal Training), by Membership Subscription Package (1 Month, 3 Months, 6 Months & 12 Months), by Provinces and by Gender" believe that the demand for fitness service in South Africa will increase due to rising fitness awareness among people, surge in disposable income, and increasing penetration of organized gyms in sub urban areas.
The market is expected to register positive CAGR of 5.1% in terms of revenue during the forecasted period 2018-2023E.
Key Segments Covered
- By Market Structure (On the basis of Revenue, Number of Members, Number of Gyms Centers)
- Organized
- Unorganized
- By Revenue Streams
- Membership Fees
- Personal Training Fees
- By Membership Subscription Packages (On the basis of Revenue, Number of Members)
- 1 Month
- 3 Months
- 6 Months
- 12 Months
- By Provinces (On the basis of Number of Gyms)
- Gauteng
- KwaZulu-Natal
- Western Cape
- North West
- Mpumalanga
- Eastern Cape
- Limpopo
- Free State
- Northern Cape
- By Gender (on the basis of Revenue and Number of Members)
- Male
- Female
- Key Target Audience
- Organized and Unorganized Fitness Centres
- Fitness Equipment Manufacturers
- Sports Authority
- Private Equity Firm
- Fitness Training and Trainers Associations
Time Period Captured in the Report:
- Historical Period: 2013 - 2018
- Forecast Period: 2019E - 2023E
Major Fitness Centres Covered:
- Virgin Active
- Planet Fitness
- Zone Fitness
- Gym Company
- Viva Gym
- Moove Motion Fitness
- Motion Fitness
- Go Health Gym
- Ignite Fitness
- Dream Body Fitness
- Family Fitness
- BUC Personal Fitness Studio
- Body Classique
- Better Bodies Gym
- Bodytec
- Sweat 1000
- Roarks Gym
- F45 Training
- Bold
- Srix Zone
- Others
Key Topics Covered in the Report
- South Africa Fitness Service Market Size
- South Africa Fitness Service Market Genesis
- South Africa Fitness Service Market Ecosystem
- South Africa Fitness Service Market Segmentations
- SWOT Analysis of South Africa Fitness Service Market
- Trends and Development in South Africa Fitness Service Market
- Issues and Challenges in South Africa Fitness Service Market
- South Africa Fitness Service Market Investment Model
- Regulatory Framework in South Africa Fitness Services Market
- Competitive Landscape in South Africa Fitness Service Market
- Competitive Scenario in South Africa Fitness Service Market
- Profiles of Major Fitness Clubs in South Africa Fitness Service Market
- Customer Decision Making Parameters
- Pain Points of Customers
- Strengths and Weaknesses of Major Players
- Snapshot on South Africa Personal Training Market
- Snapshot of South Africa Yoga Market
- Case Study of Virgin Active
- South Africa Fitness Service Market Future Outlook and Projections, 2018-2023E
- South Africa Fitness Service Future Market Segmentation, 2018-2023E
- Analyst Recommendation in South Africa Service Fitness Market
For more information on the market research report, please refer to the below link:
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Contact Us:
Ankur Gupta, Head Marketing
Ken Research Private Limited
Ankur@kenresearch.com
+91-9015378249
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