The fitness market in general, is expected to benefit from a number of key structural health trends going forward, which are summarized below:
- Health awareness is continuously rising across the Nordic markets and the rest of Europe, which is reflected by an increasing in the amount of time and money spent on a healthy lifestyle, such as eating healthier, exercising regularly, and consuming magazines, books and other content related to health and well-being.
- To lead an active lifestyle is also becoming a more important part of many people’s personal identities, as well as participating in various sports and outdoor activities, both in everyday life and on vacations. In recent years, races such as Triathlon and Ironman, that involve cycling, running and swimming, have grown significantly in popularity and are today a large part of many people’s lives.
- The European health and fitness industry is also benefiting from favourable demographics, with a growing and ageing population, and with people increasingly staying active at older ages, an increase of single households, as well as disposable income growth enabling discretionary spend on health and health-related activities.
- Digitalisation and technological innovation is supporting market growth, with new health and fitness products and services continuously being introduced, which make exercising more convenient, quantifiable and inspiring. Examples include mobile eHealth and training apps, activity trackers and other consumer wearables, new fitness club equipment with technology-based feature, as well as online booking services and training programs.
- In addition, corporations are increasingly acknowledging the importance of having healthy employees and are supporting the health and fitness club market through various staff benefits, such as subsidised fitness club memberships and through organising group training sessions. Government-led initiatives to promote the well-being of the population, which is partly driven by rising concerns over obesity and healthcare costs, are also benefiting growth and market penetration.