Dublin, Dec. 14, 2023 (GLOBE NEWSWIRE) -- The "KSA Fitness Services Market Outlook to 2027" report has been added to ResearchAndMarkets.com's offering.
The Kingdom of Saudi Arabia's fitness services market continues to flourish, showcasing a promising outlook as boutique gyms gain popularity and government initiatives bolster a nationwide push towards a healthier lifestyle.
The sector's contribution to the country's GDP reached 0.15% in 2022, with a workforce of more than 23,000 professionals in various fitness establishments. This surge in the market is attributed to an increasing health-conscious demographic, higher disposable incomes, and greater cognizance of lifestyle-related health issues. The demand for fitness services is on the rise, evidenced by the energetic expansion of both physical gyms and digital offerings in Saudi Arabia.
Market Segmentation Insights:
- By Revenue Stream: Analysis of the KSA Fitness Services Market reveals a segmentation by revenue stream into memberships and personal training. Memberships remain dominant while personal training shows substantial growth.
- By Type of Commercial Fitness Center: The Popular Fitness Centers lead the market, followed closely by boutique and local gym segments. Exclusive centers add to the dynamic market composition.
Emerging Trends and Competitive Landscape
Emerging trends point to the rise of ladies’ dedicated gyms, online fitness markets influenced by the demand for virtual training, and specialized online courses. These trends signify a shift towards more inclusive and accessible fitness solutions for all demographics in the Kingdom.
The fitness landscape is becoming increasingly competitive as established players expand into new territories and newcomers introduce innovative fitness centers. Fitness equipment suppliers and manufacturers play a pivotal role in this ecosystem, maintaining gym memberships and personal training as core revenue streams.
Recent Developments and Industry Dynamics
The KSA fitness services market has recently witnessed the approval of a comprehensive fitness center classification system by the KSA Sports Council (DSC). This system evaluates fitness centers based on meticulous criteria to ensure the highest standards of service and facilities.
The sector is also experiencing a transformation powered by digital innovation, with a growing emphasis on incorporating fitness centers into luxury residential and hotel properties. This is in line with the broader trend of fitness evolving into a socially integrated luxury experience.
Looking Forward: A Market Poised for Growth
Future projections for the KSA fitness services market are optimistic. Personal training studios and boutique gyms are anticipated to drive significant growth, with a particularly strong presence in Riyadh. Short-term subscriptions are also expected to contribute significantly to revenue by 2027.
The pandemic has fast-tracked the adoption of digital solutions within the industry. Moving forward, companies are set to focus on enhancing the member experience by leveraging at-home and outdoor exercise digital platforms.
This comprehensive analysis of the KSA fitness services market underscores a sector in full swing, ripe with opportunities and primed for progressive growth in the coming years. The full report offers a deep dive into the sector's dynamics, equipping stakeholders with essential insights and forecasts crucial to navigating this expanding market landscape.
Companies Profiled
- Arena Fitness Innovation
- Exponential
- B-Fit
- Studio 55
- Evox9 Round
- Pure Gym
- Fitness First
- Power GymDr Fitness
- Milo
- Sparkle Fitness
- Sweat Army
- Ultimate Power Gym
- The Den
For more information about this report visit https://www.researchandmarkets.com/r/hybwbz
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