Fitness Industry Special Analysis July 2023

This document is a special analysis report on the fitness industry as of July 2023. It outlines the current state of the fitness market, emphasizing its growth post-pandemic, with a total market size of $87.07 billion in 2023, projected to grow to approximately $154.21 billion by 2028. The report details the impact of the pandemic on fitness trends, highlighting the shift towards omnichannel offerings and the role of gyms as social hubs. It identifies Generation Z as a significant driver of future membership growth, with 19% of the U.S. population currently active in fitness. The analysis includes performance evaluations of various fitness operators, noting mixed recovery rates among them. Operators like Planet Fitness and Life Time Group Holdings are reported to have experienced substantial growth in membership and revenue, while others like Equinox and 24 Hour Fitness face challenges. The report concludes with insights into the evolving consumer preferences and the competitive landscape of the fitness industry.