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In the fast-growing global fitness industry, key players like LA Fitness, Planet Fitness and Anytime Fitness have cemented their dominance with large networks and impressive revenues. While traditional gyms remain dominant, the rise of boutique gyms and digital fitness platforms reflects the changing preferences of today’s health-conscious consumers. Read on to find out more about the trends, innovations and future prospects of this dynamic industry.
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Key industry players and global reach
LA Fitness, one of the largest gym operators globally, boasts over 600 locations across the U.S. and Canada, and generated an impressive $2.6 billion in revenue in recent years. Similarly, 24 Hour Fitness and Life Time Fitness are also top players with revenues in excess of $2 billion. These operators have a strong presence in North America and dominate the market there. In Europe, fitness chains such as Pure Gym and Virgin Active, which offer affordable and flexible membership options, are also experiencing strong growth.
Planet Fitness is a notable franchise with more than 2,600 locations across various countries, including significant operations in the U.S., Canada, and Latin America. It appeals to budget-conscious consumers with its low-cost model and simple amenities, attracting more than 18 million members worldwide. In terms of growth, Anytime Fitness also stands out with over 5,000 locations globally and is especially strong in North America, Europe, and Asia, making it a versatile player in the franchise model.
Membership growth and retention
In 2023, it was estimated that more than 184 million people were gym members worldwide, with the U.S. and Europe leading in membership numbers. In the U.S. alone, approximately 64.2 million people hold gym memberships. One of the most striking trends has been the rise of boutique fitness studios, which saw a 121% increase in memberships between 2013 and 2017. These studios now account for over 42% of all gym memberships. Interestingly, 65% of boutique fitness studio members maintain multiple memberships, reflecting the growing preference for specialized fitness experiences.
Despite challenges posed by the COVID-19 pandemic, which temporarily stalled growth, the fitness industry is now seeing a recovery. Visits to gyms have surpassed six billion annually, with retention rates in gyms averaging around 72.4%, a healthy figure given the industry’s traditionally high churn rate. This is largely due to the growing focus on wellness and mental health, with 40% of people now ranking wellness as a top priority in their daily lives.
Geographical expansion and gym market trends
While the U.S. remains the largest market for fitness clubs, Europe is not far behind in terms of market penetration. The UK, Germany, and France have experienced strong growth, driven by the popularity of budget gyms and premium fitness studios alike. Pure Gym, for example, is a leader in the European market with over 500 locations, catering to cost-conscious customers with its no-frills approach. On the other end of the spectrum, Virgin Active operates in both the UK and other parts of Europe, offering more premium, experience-driven facilities.
Globally, the industry is experiencing about 7.5% annual growth, reflecting increasing consumer demand for fitness solutions. The online fitness market, which surged during the pandemic, has also remained strong, with predictions of a 33.1% compound annual growth rate (CAGR) through 2027. This indicates that operators that offer hybrid models – combining physical locations with virtual training – are positioned for long-term success.
The future of the gym industry
Looking ahead, the industry is expected to continue expanding, especially in markets like Asia-Pacific, where fitness awareness and consumer spending are on the rise. Additionally, the focus on digital fitness is set to grow, with platforms like Peloton and virtual workout solutions gaining momentum. Boutique studios and niche fitness experiences (such as HIIT, yoga, and spinning) will also continue to be key drivers of growth, appealing to millennials and Gen Z members who are seeking more personalized and community-based workout experiences.
In conclusion, the gym and fitness industry is experiencing steady global growth, driven by a combination of established operators like LA Fitness and Planet Fitness, along with innovative boutique studios and digital platforms. As health and wellness become even more integrated into daily life, gym operators are poised to meet evolving consumer demands, whether through brick-and-mortar locations, virtual fitness options, or a mix of both.
References:
- 200+ Gym Industry Statistics 2021 [Global Analysis]
- 2024 Gym Membership Statistics: Retention, Demographics & Usage
- 22 Fulfilling Fitness Industry Statistics [2023]
- Fitness Market 2024: Size, Revenue & Growth (+ Research Report)
- IBISWorld (various)
- Life Time, Inc.: Full-Year 2023 Information
- Statista (various)
- Stats: 2023 IHRSA Global Report
