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Does Fitness Industry Have A Booming Future? How Fitness Industry is Leading the Way

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Fitness Industry in India

The Indian fitness industry has developed into a comprehensive ecosystem that includes providers, customers, adjacent industries, facilitators, and the government since the early 1990s. The fitness and health industry has progressed tremendously, evolving from extremely basic gymkhanas to gymnasiums or gym industry that are incredibly luxurious and well-equipped. The viral outbreak highlighted the significance of maintaining one’s mental and physical health. This newfound focus encouraged people to consider fitness as an essential component of ensuring a better, healthier life as people across the nation became more aware of their health and immunity. They shifted their attitude toward exercise during the prolonged lockdowns in favour of long-term fitness by incorporating any activity into their lifestyle. Mini-workouts, yoga, walking, or jogging were popular options for those who did not commit to a strict fitness regimen.

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Health and Fitness Industry: An overview

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Image Source- ET Health World

To maintain their fitness levels, a large portion of the Indian population still prefers traditional activities like walking and running. Walking is preferred by nearly half of the people over 30. While the majority of the rest of the population has adopted the fitness culture by joining gym industries or establishing a home gym for physical exercise.

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The majority of players in India’s health and fitness industry are unorganized, and there are only a few branded franchise models. Championships in bodybuilding and weightlifting were once considered professional fitness. In any case, today’s fitness industry in India is going towards well-being, prosperity, great looks, and certainty. Aerobics, resistance training, Zumba, aerial yoga, Pilates, MMA, kickboxing, and other activities have emerged as fitness trends in India over the past few years.


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The rapid growth of the fitness market in India 

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Revenue by type, Image Source- Statista

India’s wellness or fitness market is poised for double-digit growth due to several factors, according to a report published by Stratview Research. Technology advancements and the availability of numerous workout and health-focused options are two examples of these factors. Numerous investors are also making significant investments in this sector due to the market’s fragmentation and high potential.

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The spread of information, particularly among young consumers, has led them to take health and fitness seriously with the advent of technology and a significant increase in internet use. This was made even stronger by the global pandemic when consumers actively sought information about all fitness-related services and products. Naturally, consumers tend to purchase what they like in a growing market like India, where new products and services are constantly introduced.


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The expansion of new forms of fitness regimen

Does the fitness industry have a booming future? KreedOn
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Even though many of these customers would rather physically go to the gym to build strength or get in shape, some of them are seen choosing activities like kickboxing, Zumba, or aerobics that are more fun and interesting. These activities have given the fitness industry the boost it needs, attracting numerous domestic and international market players. The young generation’s decision to go to the gym because they have more money to spend is another rising factor that can be viewed as a dominant trend. Young professionals often just go to the gym out of fancy because they have a lot of money to spend. The Indian fitness industry reached $1.1 billion in 2017, according to a Deloitte analysis. The industry has only experienced a surge since then. 

The overall industry has benefited from the Indian government’s efforts to make health and fitness a priority in its “Make in India” campaign. Even though practices like Ayurveda, meditation, and yoga have been a part of Indian culture since ancient times, newer demands from the younger generation and their ever-changing lifestyle have led to new modern technologies in terms of health and fitness. A report stated that there were approximately 71,000 new health and fitness apps released in 2020, an increase of more than 13% from 2019. On the other hand, a recent article from the World Economic Forum stated that India had the highest number of downloads of health and fitness apps, with a 46% increase across the board. According to the report, the nation had 58 million new active users.

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Recent changes in the fitness industry & choices

The shift to digital fitness

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Image Source- Web Mob Technologies

The most recent fitness reports indicate a fivefold increase in downloads during the year affected by the pandemic. Downloads of health and fitness apps have increased by more than 50% worldwide since the pandemic. There has been an explosion in the popularity of fitness apps. The fitness industry has provided data showing that nearly seven million postings to online fitness communities were made in April, which is more than three times the number of postings made in February. We have learned that technology-based solutions must be the industry’s primary focus due to the rise in online participation.

The fitness industry’s ability to use technology to create immersive and cutting-edge experiences will determine its future success. This has been demonstrated in the last two years by the introduction of streaming, on-demand virtual fitness, and app-based exercises. Although these kinds of digital fitness services existed before COVID-19, fitness businesses’ success ultimately depends on how quickly they embrace the digital revolution. 


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The home fitness revolution

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It has been going on for decades, and its popularity is on the rise. Still, recent developments have led to a significant rise in the sale of gym equipment and home fitness in Meerut. In March, gyms all over the world closed. For their workout fix, many customers turned to fitness apps, YouTube, and Zoom.

Customers are paying attention to home fitness. Additionally, between March and June, sales of exercise equipment increased by 55%. The gym’s lure will be too strong for some people to resist. However, people’s perceptions of what home fitness can accomplish have changed. People now expect more from their home training experience, which has become significantly more involved.


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Reasons for expansion of the fitness industry

India’s population density will exceed 700 million by 2050, surpassing 517 million in 2020. As a result, there would be greater demand for products and services, such as increased awareness of fitness facilities and health awareness as a whole. This is because obesity, chronic stress, and other lifestyle-related diseases are more likely. Previously, men made up the majority of the fitness industry. Now, things have changed, and 45 percent of gym members are women. Trainers, fitness promoters, and business owners who are women are becoming more common.

Through statewide initiatives like the Fit India Movement, the government is also encouraging people to engage in physical activity and live healthier lives. Its objective is to change people’s habits from being passive to physically active. Fitness has been identified as a priority industry within the government’s Make in India strategy.


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An analysis of the surging growth of the fitness industry market

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Image Source- Turian Labs

With a value of US$ 1,796 million in 2020, the Indian fitness products market has experienced rapid expansion. According to IMARC Group, the market is expected to grow at a CAGR of 8.6% between 2021 and 2026. There are six million daily users in India who spend an average of $350 to $400 per year on health care services, according to market studies such as the Redseer Consulting, FICCI EY reviews Global Wellness Institute, IHRSA, and Fitternity’s ground-up study of the global Indian retail fitness market. This results in a market size of $2.6 billion. Mumbai’s ability to expand from Rs 1,200 crore in 2017 to Rs 2,000 crore in 2019 exemplifies India’s high growth rate across all metropolitan areas. The market is anticipated to reach a staggering $6 billion by 2023.

The fitness industry as a whole is expected to grow at a rate of 27% per year by 2022 and reach US$32 billion, with products like gyms, aerobics, and Zumba, among others. representing approximately US$6.6 billion. As per a review done by Gympik, 58% of guys join an exercise centre for actual strength preparation to foster muscles, while ladies favor dance exercises to arrive at weight reduction objectives and 85 % for heart-stimulating exercise, and 81 % for Zumba. Anxiety reduction and avoiding dangers to one’s health were among the top reasons participants went to health and fitness centers. 


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The health and fitness market drivers 

Numerous national and international brands are entering the gym and fitness market, which is currently experiencing a boom in the country. Bollywood actors, who show off their well-groomed bodies and muscles on screen and inspire many youngsters, deserve some credit for this boom. However, the nation’s trend toward the health and fitness industry is supported by several other growth factors.

Growing Interest in Health and Fitness

Increasing numbers of people are going to gyms to combat the negative effects of their busy urban lifestyles. Young people and elders actively engage in fitness to improve cardiovascular fitness, improve overall health, and reduce stress, anxiety, depression, and other health-threatening diseases. Fitness is for everyone, from 20 to 60 and beyond. People of all ages have discovered that staying physically fit prevents many health issues and helps them age gracefully.

Penetration of International Brands

The rising incidence of diabetes and obesity in India has sparked a revolution in the fitness industry. One of the primary reasons for the country’s expansion of health clubs and wellness centers is this. To reach out to potential customers and enter the market in every way possible, well-established fitness chains and gyms are expanding their product and service portfolios. Franchisees are increasingly being used by multinational fitness chains and the gym industry to enter the Indian market.


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The Development of the Gym Industry

The nascent gym industry culture is expanding at a breakneck rate as more and more people join the fitness movement in hopes of achieving optimal health and longevity. A significant number of Indians living in Tier-II and metro cities are rapidly adopting a health-conscious lifestyle and have begun going to gyms. The gym industry is growing at a rapid rate and is expected to gather more individuals in the coming years.

Access to a Wide Range of Equipment

Many people join a gym because it has a wide range of equipment, such as cardio machines, strength machines, weights, boxing kits, and a variety of functional training equipment (TRX, fit balls, thera bands, and other similar items) that support regular exercise, which they are unable to install in their home due to space constraints. This is the primary reason why many fitness enthusiasts go to the gym.

Accessibility of Customized Wellness Preparing Projects

In the current times, individuals don’t hold back in spending a seriously sizeable sum for looking and feeling significantly better. However, not everyone knows how to exercise, when to exercise, or what to eat. This is where a custom fitness training program comes into play. A personal trainer’s ability to foster accountability and sincerity is another major reason why they are necessary.


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Additionally, personalized training enables a person to adhere to a methodical workout module that is tailored to their specific fitness requirements and objectives. Fitness enthusiasts now follow fitness YouTubers or perform various cardio exercises by watching them on personalized applications for Abs, Chest, Biceps, etc. Working out with a personal fitness trainer has transformed into a digital one.

The rise in Personal Disposable Income

Previously, exercising and signing up for a gym membership were considered luxuries, but today they are commonplace activities. The demand for gyms is rising as urbanization, the middle class, and disposable incomes rise.


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The allocation of the health & fitness industry by the government 

Health and fitness have received a significant boost from the government in recent years. Healthcare has emerged as one of India’s most important revenue and employment sectors. Healthcare includes hospitals, medical devices, clinical trials, outsourcing, telemedicine, medical tourism, health insurance, and medical equipment. Additionally, fitness equipment is a significant focus area. 

Gym equipment retailers and wholesalers like treadmills, dumbbells, and others make up this market segment. The government has also provided a significant boost to fitness services in the form of gyms. The fitness campaign “HumFitTohIndiaFit” that Prime Minister Narendra Modi launched is likely to boost the country’s fitness industry. The fitness campaign went viral on social media within minutes of its launch, with numerous celebrities from Bollywood to sports uploading short videos of their exercise routine.


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The fitness metaverse: An approach to futuristic fitness 

The health and fitness industry’s innovation trajectory has been influenced, in addition to personal motivation, by recent technological advancements. The rise of the Metaverse is one such development. With the help of highly immersive and interactive workout games, futuristic advanced fitness technology will make it possible for fitness enthusiasts to achieve their fitness goals. The games will encourage cardio exercises based on movement, music-mapped routines, and newer fitness activities like boxing, sword fighting, and dancing, among others, developed using VR and augmented reality technologies.

Apps and Fitness Regimen

Users will also be able to organize group workouts, cycle races, and running sessions with friends from all over the world while working out in the Metaverse. In blockchain-based apps, for instance, fitness app users will be able to earn tokens by completing tasks and modules. These tokens can also be used to buy fitness equipment, unlock new modules, and schedule live coaching sessions. Online fitness classes are just one chapter in a long history of fitness industry innovation.

People all over the world will be able to take advantage of superior experiences made possible by tech-led training sessions as the market for virtual fitness is anticipated to reach almost 60 billion USD by 2027.


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FAQ

What is the fitness industry?

The Fitness industry operates fitness and recreational sports facilities that offer exercise (like in the gym) and other physical fitness activities like swimming, skating, or racquet sports. The fitness and health industry has progressed tremendously, evolving from extremely basic gymkhanas to gymnasiums or gym industry that are incredibly luxurious and well-equipped.

Is fitness a growing industry?

The fitness or gym industry is expected to grow in near future. According to IMARC Group, the market is expected to grow at a CAGR of 8.6% between 2021 and 2026. India’s health and fitness market is poised for double-digit growth due to several factors like technological advancements and the availability of numerous workout and health-focused options.

Who dominates the fitness industry?

The United States dominates the personal fitness trainer market. The growing demand for health and fitness, which led to an increase in the building of home gyms, is predicted to increase the demand for personal fitness trainers in the United States.

What is the main motto of Fit India Movement?

The main motto of the Fit India Movement is to promote fitness as easy, fun, and free.

What is the best fitness regime?

Walking
Running
Interval training
Squats
Lunges
Push-ups
Abdominal Crunches

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Ayushi Bhatti
Ayushi Bhatti
I am Ayushi Bhatti, a graduate of B.A. English Honours from St. Stephens College, University of Delhi. Currently, I am pursuing M.A. in Journalism and Mass Communication from Sharda University. Over the years, I have attained proficiency in the English language through my consistent hard work and efficient writing skills. I have formerly written content for several prestigious platforms and some of them are NDTV Lifestyle Swirlster, LernEzy, Yhills, Kreedon, Zee Media. I have also been doing freelance writing besides writing articles, blogs, advertisements for campaigns, and website content. I possess the capability to write insightful and lucid content to bewitch my readers.

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