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Report
Saudi Arabia Health and Fitness Club Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
Market Report I 2023-01-23 I 80 Pages I Mordor Intelligence
The Saudi Arabian health and fitness club market is expected to reach a CAGR of 8.50% during the forecast period( 2022-2027).
The COVID-19 pandemic reshaped the landscape of health and fitness clubs in 2020 and, therefore, led to the closure of these clubs not only in Saudi Arabia but also around the world to stop the spread of the novel coronavirus. Moreover, lockdown measures are also being witnessed in 2021 due to the spread of COVID-19 in the country, which is again leading to the closure of these clubs in the country but not for a long duration. However, despite the revenues of fitness clubs falling in the country, some of the prominent companies still managed to expand their business in distressed times to increase their revenues, which saw downfalls during 2020.
The rising number of health clubs and gyms with personal training and the latest fitness equipment is attracting consumers to health and fitness clubs, which is likely to positively impact the market growth in the coming years. The increasing equipment and the increasing facility spaces in fitness clubs, such as hot yoga studios, high altitude training rooms, metabolic testing equipment, medical exercise areas, and day spas, are also gaining popularity among consumers in the country. This is further supporting market growth.
Saudi Arabia Health & Fitness Club Market Trends
Growing Influence of Healthy Lifestyle Trends
In line with the healthy lifestyle trend, consumers in Saudi Arabia increasingly seek to join health and fitness clubs. Additionally, the shift toward healthy lifestyles is driving demand for advanced fitness equipment by fitness clubs, thus, attracting consumers toward these clubs. Moreover, Saudi Arabians are much more conscious about their health than they used to be and are taking life-changing steps in that regard. The fitness industry has expanded a lot in Saudi Arabia since most people are now aware of the benefits of a workout on their health, thus, driving the market forward. The rising prominence of sports activities, celebrity endorsements, international sports and fitness events, social media influence, and various government initiatives and campaigns is encouraging both male and female consumer groups to take part in various fitness and sports-related activities, thus, contributing to the increasing expenditure on maintaining healthy lifestyles.
The Membership Fees Sector Dominated the Market
Membership packages offered for three months contributed a major share to the overall revenue generated through fitness services in 2020, as they offer the option of experimenting with several gyms for short durations and trying new activities, such as yoga, Pilates, and mixed martial arts. Gym memberships in Saudi Arabia generally require a three-, six- or 12-month commitment. Major cities, such as Riyadh, Jeddah, Dammam, and Al-Khobar, have emerged as fitness service hotspots, with major brands either currently operating or looking to operate branches in these regions. As highly populated cities, these areas are commercial hubs, industrial centers, and the most non-Saudi resident-vibrant cities out of all Saudi regions. However, there is a pervasive dissatisfaction primarily among women with the prices of gym membership and the quality of their services, and their limited policies.
Saudi Arabia Health & Fitness Club Market Competitor Analysis
The Saudi Arabian health and fitness club market is highly fragmented, with the major presence of private-label players. Leejam Sports Company (Fitness Time), Fitness First, Lava Fitness, and Kinetico Ltd are a few prominent players in the market. The other major players in the market include Kinetico, Sweat Army, Fit Zone, and Interval Plus. These prominent players are constantly acquiring different strategies to cater to the needs of consumers and remain competitive in the market. As a growth strategy, the key players are now focusing on social media platforms, like Facebook and others, for the online marketing and branding of their service offerings to attract more customers.?
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Revenue Stream
5.1.1 Membership Fees
5.1.2 Personal Training and Instruction Services
5.1.3 Other Revenue Streams
5.2 By End User
5.2.1 Men
5.2.2 Women
6 COMPETITIVE LANDSCAPE
6.1 Key Strategies Adopted
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Landmark Fitness Limited
6.3.2 RSG Group GmbH
6.3.3 World Gym International LLC
6.3.4 Leejam Sports Company (Fitness Time)
6.3.5 Arena
6.3.6 Lava Fitness
6.3.7 Al Manahil Entertainment Co.
6.3.8 NuYu
6.3.9 Kinetico
6.3.10 Fit Zone
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
8 IMPACT OF COVID-19 ON THE MARKET
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