New York, USA, Jan. 10, 2023 (GLOBE NEWSWIRE) -- According to the latest report published by Research Dive, the global pilates and yoga studios market is predicted to rise at a tremendous CAGR of 10.0%, thereby garnering a revenue of $269,301.8 million in the 2021-2028 timeframe. This integrated report presents a brief outlook of the current framework of the pilates and yoga studios market including its cardinal features like growth drivers, growth opportunities, restraints, and hindrances during the forecast timeframe of 2021-2028. All the necessary market figures are also provided in this report to help new entrants analyze the market easily.
Dynamics of the Market
Drivers: Growing adoption of new forms of exercises such as flexibility training is anticipated to be the primary growth driver of the pilates and yoga studios market in the forecast period. Along with these, business expansion strategies to boost company presence are expected to push the market forward.
Opportunities: Technological advancements in pilates and yoga are estimated to provide numerous growth opportunities to the market in the forecast period. Additionally, rising awareness regarding health benefits of pilates and yoga is predicted to propel the growth of the market.
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Restraints: Market analysts are however skeptical about the full-paced growth of this market owing to the growing popularity of alternative fitness platforms which might prove to be a restraint for the pilates and yoga studios market.
Impact of Covid-19 on the Market
The novel coronavirus had wreaked havoc in the world. The lockdowns put in place to curb the virus affected various industries and their production cycles. The pilates and yoga studios market faced negative impact of the pandemic. Since many of the pilates and yoga studios were closed due to the pandemic, there was a massive fall in the growth rate of the market. The social distancing norms and ban on large gatherings led to permanent closure of many such studios and brought down the growth rate of the market.
Segments of the Market
The report has divided the pilates and yoga studios market into certain segments based on activity type and region.
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Activity Type: Yoga Classes Sub-segment to be the Most Profitable
By activity type, the yoga classes sub-segment is expected to be the most dominant and is predicted to gather $144,293.7 million by 2028. The growing popularity of yoga classes due to rising awareness about health benefits of yoga is further expected to boost the growth of this sub-segment.
Market in the Asia-Pacific Region to Have the Highest Market Share
By regional analysis, the pilates and yoga studios market in Asia-Pacific region is predicted to be the most dominant and garner $89,790.9 million by 2028. Rising awareness regarding spiritual and physical health benefits offered by yoga in this region is expected to boost the growth of this market in the forecast period.
Prominent Market Players
Some of the prominent players of the pilates and yoga studios market are
- Alona Pilates
- Core Pilates
- Flex Studios Inc.
- Body & Soul Yoga Club
- Fitness Unlimited
- Pilates Plus
- Authentic Pilates Ltd.
- M Pilates+Yoga
- Core Studio Pilates & Yoga LLC
- Fitness Firm Yoga
- Pilates Studio
These players are adopting various business strategies like mergers, acquisitions, and collaborations to gain a prominent position in the market.
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For instance, in December 2021, Viva Leisure Limited, a leading player in the health and leisure industry, announced the acquisition of Rebalance Pilates and Yoga Studios, a leading franchise of the yoga and pilates industry. This acquisition is predicted to help Viva Leisure Limited to consolidate its position in the market in the next few years.
Finally, the report also summarizes many crucial aspects of the global market including SWOT analysis, latest strategic developments, financial performance of the key players, and product portfolio.
More about Pilates and Yoga Studios Market:
- Pilates and Yoga Studio: Should You be Choosing Either?
- Global Pilates and Yoga Studios Market to Garner Significant Revenue in the Forecast Period 2021 to 2028
