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Summary
From 2020 onwards, the global fitness market experienced significant growth and transformation, largely propelled by the effects of the COVID-19 pandemic. valued at $83.24 billion in 2022, it is set to achieve a compound annual growth rate (CAGR) of 7.67% between 2023 and 2030, and is expected to reach $125.23 billion by 2030. Against this backdrop of expansion, market structures vary from region to region, with countries such as Germany, the UK and the USA boasting high membership rates, while Latin America faces a shortage of fitness centers. Italy, in particular, has a fragmented market, with 5.3 million active members, and a predominance of independent clubs and small studios over large franchises. The pandemic has led to a digital shift, with virtual courses and remote training sessions gaining ground. In addition, the Russian-Ukrainian conflict of 2022 has led to an average 9.6% increase in gym membership costs in Italy, due to rising energy prices. Consumer habits show that running and gym activities are the most popular sporting activities in Italy, with the market increasingly embracing connected devices such as wearable technology and fitness apps. The pandemic has boosted at-home workouts, with a surge in online fitness services and equipment sales. The Italian fitness sector is fragmented with small independent clubs dominating the landscape, and although the market has seen polarization with low-cost and high-end offerings, Virgin Active Italia is the leading player on a revenue basis. Spending on fitness in Italy averages €2,532 per person per year, with the various sports clubs catering to a variety of economic segments. Finally, sports nutrition has become a strategic segment for fitness centers, reflecting the growing use of dietary supplements among the Italian population.
Technology in everyday Italian sport.
The Italian fitness sector, rooted in a culture that prioritizes well-being and aesthetics, features unique consumer models and evolving trends. Despite fragmentation, the sector persists with over 5 million active members and a revenue stream that contributes substantially to GDP. The market landscape has been shaped by a variety of factors, including technological advances, the global pandemic and changing consumer habits. A notable shift has been observed in Italians' adoption of physical activities, with between 35 and 40 million individuals taking part in sport or recreational exercise. Running and jogging top the list of preferred fitness modes, followed by indoor exercise, cycling and water sports such as swimming. Participation rates are clearly divided between North and South, with the former showing a higher rate of engagement. The burgeoning field of wearable technology has seen a sharp increase in adoption, particularly among the female population, where usage has risen by around 44%. Devices such as smartwatches, fitness wristbands and sensors integrated into sportswear are now an integral part of the Italian athlete's routine, with brands such as Apple and Xiaomi leading the market. The onset of the pandemic catalyzed a revolutionary shift towards at-home fitness regimes, with data showing a significant increase in the use of digital platforms for exercise. The Italian market recorded a monumental 133% growth in the use of diet and fitness websites or apps, showing an overwhelming preference for virtual training modalities. Interest in home training equipment soared, with specific categories such as weights and exercise bikes registering a 200% increase in online searches. Although the post-pandemic period has normalized somewhat, a significant proportion of Italians - around 43% - continued to exercise in the comfort of their own homes, exploring a hybrid model of fitness that integrates both online and offline elements. In the Italian market, distinct strata of fitness centers coexist, ranging from opulent high-end gyms that charge monthly fees of over 80 euros, to accessible low-end counterparts, which offer their services from as little as 20 euros a month. This price polarization reflects the full range of services on offer, from basic access to extensive wellness facilities and a plethora of fitness classes. The sports nutrition industry provides a significant boost to the fitness sector, with a broad consumer base of over 30 million Italians using dietary supplements. These range from proteins for recovery, branched-chain amino acids (BCAAs), to performance enhancers such as creatine and mass gainers. Overall, the Italian fitness market is poised to expand, driven by technological integration, improved quality of life and increased productivity.
The players in this flourishing business.
In the fitness market, a few major players dominate the landscape, guiding the industry's growth and offering a diverse range of services to cater for the growing number of health and fitness enthusiasts. Here's a look at some of these market leaders, each carving out a unique place in the vast fitness sector.
- Virgin Active Italia: Market leader in Italy, Virgin Active Italia is a leading chain renowned for its extensive clubs and holistic approach to fitness. With numerous locations, Virgin Active Italia boasts state-of-the-art facilities, a wide range of group classes and the latest fitness equipment. The offer often includes luxury services such as saunas, pools and spa services, with the aim of providing a holistic wellness experience.
- RSG Group Italia S.R.L.: RSG Group Italia S.R.L. is a leading name in fitness, distinguished by its diverse portfolio of gym brands. The group's influence in the fitness sector is considerable, as it tends to focus on innovative fitness solutions and often emphasizes the latest trends in workouts and physical preparation.
- Palestre Italiane SRL: This Italian-based company offers a more local experience. With numerous centers throughout the country, Palestre Italiane SRL focuses on providing quality exercise environments and a variety of fitness programs tailored to the goals and preferences of their members.
- Mel Italia SRL: Another major player, Mel Italia SRL operates a chain of fitness centers that often focus on the accessibility and convenience of fitness services. Their facilities are designed to cater to a wide demographic, seeking to make fitness an integral part of daily life for many individuals.
- Club Milano City S.R.L: Club Milano City S.R.L is well positioned in the area, offering a vibrant fitness community and a wide range of training options for its members. Its clubs are renowned for their dynamic atmosphere and commitment to creating a motivating environment for fitness enthusiasts of all levels.
Collectively, these major players provide a snapshot of the fitness industry's landscape - from luxurious fitness centers to convenient, specialized local gyms, they define the contours of a market that is as varied as the needs of its customers. Each brand brings its own unique touch to the world of fitness, making a significant contribution to the sector's ongoing evolution and ensuring that consumer demand for health and well-being continues to be met through innovation, quality and variety.
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Detailed content
Inforamtion
- Number of pages : 30 pages
- Format : Digital and PDF versions
- Last update : 03/10/2023
Summary and extracts
1 Market Summary
1.1 Definition and presentation
Generally, the term fitness refers to a state of health and well-being of the body. To achieve this state, people used to join specialized health and fitness centers that not only provide their members with workout facilities in exchange for a membership and subscription fee, but also offer their members a wide range of additional services such as personal training, group classes, and spas.
In2022, the global fitness market isworth $83.24 billion and is growing significantly, with forecasts projecting a compound annual rate (CAGR) of 7.67 percent for the period 2023-2030 .several factors are contributing to this expansion, including the gradual exit from pandemic-related confinement, the importance given to physical appearance, and the role of social networks that encourage the search for an aesthetically pleasing body [ Deloitte ]. The global market, however, is not homogeneous: on the one hand, there are countries such as Germany, the United Kingdom, and the United States that have very high membership numbers; on the other hand, in many countries, such as those in Latin America, there is a distinct lack of fitness centers.
Today, the Italian market is characterized by the presence of 5.3 million active members and high fragmentation: the vast majority of facilities dedicated to fitness in Italyare independent clubs, while as many as 28 percent are modestly sized yoga or pilates studios. These numbers, as a result, significantly reduce the presence of large franchises. The Italian regions with the largest number of sportspeople turn out to be Lombardy, Veneto, Emilia, Romagna and Lazio.
The growth of the market is certainly linked to a greater propensity of people to take care of themselves and a greater awareness of the benefits associated with fitness. The fitness market has evolved significantly in recent years through the creation of new business models and training methods. In particular, 2020 was a crucial year in this respect: the losses associated with the Covid-19 pandemic, which caused fitness clubs to close for long periods of time, were enormous. Despite this, the fitness market has shown great adaptability by taking full advantage of the potential of the digital world, offering virtual classes and workouts.
1.2 The Global Market
The global fitness market in **** is estimated at $**.** billion. Between **** and ****, it is estimated to grow at a compound annual rate of *.* percent, with an estimated value of $***.** billion in ****. Factors such as increasing per capita disposable income, growing urban population, increasing obesity, increasing fitness clubs and gyms, and a tilt ...
1.3 The Italian market
In ****, about ** million Italians exercised at sports centers, gyms and swimming pools with a total turnover of about ** billion euros. Considering the induced activity of the whole system, the turnover is around ** billion euros or *.* percent of the national GDP.(***).
Average monthly spending on recreational and sports services and sporting goods Italy, ...
1.4 The impact of the Russian-Ukrainian conflict
The outbreak of the Russian-Ukrainian conflict in February **** led to a general increase in the consumer price index, among other things. As for the fitness sector, between **** and ****, prices for gym memberships increased by an average of *.* percent. In particular, the annual membership has the highest price increase, with an average ...
2 Demand analysis
2.1 Consumption Habits
In ****, **.* million people practice physical-sporting activity in their leisure time. The practice of a sport continuously stands at **.* percent, occasional practice is on the rise, accounting for more than one in ten cases (***), while the performance of a physical activity stands at **.* percent. Moreover, in ****:
**.*% of women and **.*% of men ...
2.2 Demand trends
The graph represents the proportion of searches for a given term in a given region over a given period of time, compared to when it was most searched (***). Thus, a value of ** means that the keyword was used less often in the region, and a value of * means that there is ...
2.3 The development of connected devices
WEARABLE DEVICES
The Anglo-Saxon term "wearable" is used to define all those wearable technological devices that measure and monitor a person's sports performance. By means of sensors, connected to the athlete, they transmit a series of data that allow monitoring one's performance, state of health, fatigue, stress and performance in ...
2.4 The impact of the pandemic : the rise of domestic sports
As a result of the restrictions and lockdowns imposed, the fitness industry has had to reinvent itself. Efforts were made to reach Italians directly in their homes through apps and websites. Demonstrating the boom in digital training during the lockdown is data on the number of visits to diet or fitness ...
2.5 Online classes
As mentioned in precendeze, the rise of one-on-one workouts is becoming increasingly popular. A new development are streaming or live fitness classes that offer the convenience of having a workout available **/* via a live or prerecorded class. these are being offered by gyms, apps, and even sports equipment manufacturers themselves.
In ...
2.6 The New Gyms and Apps
news from the gym world concerns both the classes offered and the type of workouts.
BULB
Bulb, an Italian startup born in ****, in the midst of a pandemic, provides users with workout-equipped spaces on a pay-per-use basis. Just download the App and see which centers are free on that given day ...
3 Market structure
3.1 Market Structure
According to Robert Fitness is a "set of activities aimed at maintaining physical fitness by means of exercises performed with the help of equipment," however, there are different places and rooms, here is a quick overview.
All these centers and gyms have the same activities, although some prefer to specialize, but ...
3.2 Geographical Distribution
In ****, **,*** sports activities are active in Italy. Just as with demand, a territorial imbalance can also be seen in supply. In fact, **.* percent of activities are concentrated in the North (***), **.* percent in the Center, **.* percent in the South, and just *.* percent in the Islands.
3.3 A very fragmented market
Different types of players can be differentiated: very high-end gyms that present the most comfort in place, intermediate gyms, and low-cost gyms that disrupted the market a decade ago (***). The democratization of fitness and the exacerbation of competition have allowed this steady decline in subscription prices, which has been happening for ...
4 Supply analysis
4.1 Prices and Various Strategies
the clubs' offerings and the type of subscription (***) vary widely. However, only **% of clubs have more than half of their customers with an annual subscription. This makes it a financially "fragile" market. The average price for an annual subscription is about *** euros per year.
In general, Italians are the biggest spenders ...
4.2 Sports Nutrition as Leverage for Fitness Centers
Several centers have partnerships with sports nutrition brands, this is a booming market in Italy where there are more than ** million, on average, people who use sports supplements, with numbers growing all the time[***]. When it comes to sports supplements, there is a multitude of products available, not only in terms ...
4.3 Different business strategies
This part will look at the various types and business strategies of companies and how they have responded to the Covid pandemic.
LARGE FITNESS CHAINS
ITALIAN CHAINS
5 Rules and regulations
5.1 Regulation
Anyone can open a gym or fitness center, as long as they have adequate premises that comply with current workplace safety regulations and ASL health and administrative authorizations.
Specifically, the opening of a gymnasium requires the submission to the SUAP, in the municipality of residence, of a SCIA underLg ***/**** art. **, which ...
6 Positioning of actors
6.1 Segmentation
- Abeo
- TechnoGym
- FITINN ITALIA SRL
- MiaFit
- Prime Exclusive Wellness
- Ceresio 7
- Virgin Active Italia SPA
- Fitactive
- WebFit SRL
- Fit Express Holding SRL
- McFit
List of charts
- Global fitness market
- Global fitness equipment market
- Evolution turnover market of sports activities
- Increased prices of gyms
- Production prices sporting goods
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Latest news
Shares, Technogym rises in the stock market. Analysts raise target price after accounts, Banca Akros moves from sell to neutral - 26/03/2024
In 2023, Technogym reported consolidated revenues of 808 million euros, marking a 12 percent increase over fiscal 2022.
- - Adjusted EBITDA was 152 million euros, an increase of 15 percent.
- - Net income reached 78 million euros, up 18 percent.
- - The net financial position improved to 127 million euros compared to 122 million in 2022.
- - a dividend was proposed that corresponds to 70 percent of profits, or 52 million euros, comparable to 26 cents per share.
- - Technogym's stock has risen 1.6 percent since the beginning of the year, and 12-months by 21 percent, with a market capitalization of 1.87 billion euros.
- - The latest target price adjustments by analysts include:
- - Banca Akros: changed from "sell" to "neutral" with target price from 8 to 9 euros.
- - Mediobanca Research: remains "neutral," but increases target price from 8.3 to 8.9 euros and earnings per share estimate to 2024 by 4 percent.
- - Goldman Sachs: remains "neutral," raising target 5% to 10 euros.
- - Equita SIM: maintains "buy" rating, raising target 3 percent to 10.8 euros.
- - Intesa Sanpaolo: confirms "hold" rating and target at 9.8 euros.
Technogym bursts with health: more revenues, profits and dividends - 25/03/2024
- Consolidated revenues in 2023: €808 million (+12% year-on-year).
- Adjusted gross margin (Adjusted Ebitda) in 2023: €152 million (+15.2%).
- Adjusted pre-tax profit in 2023: €101 million (+18%). - Net income in 2023: 78 million euros (+18%).
- Net financial position as of December 31, 2023: positive 127 million euros, 4% improvement from 122 million euros in 2022.
- Proposed dividend distribution for 2023: €0.26 per share, totaling €52 million (70% of net income).
- Relevant events for 2024:
- Participation as exclusive supplier in the Paris Olympics.
- Celebration of Technogym's 40th anniversary during Milan Design Week with the "Design to Move" event.
- Forecasts and strategies:
- The company expects to confirm the growth trend in the medium to long term as well.
- Emphasis on sustainable and profitable growth in the long term.
- Confidence in the continuation of the profitable and sustainable growth path through a rich program of appointments and innovation for 2024.
- Positioning as a luxury brand in design through the "Design to Move" event.
- Support for wellness and healthy longevity as a global lifestyle.
Virgin Active presents Reformer Pilates, the fitness of the future - 02/02/2024
- **Popularity of Reformer Pilates:** The discipline has gained the endorsement of celebrities such as Cristiano Ronaldo, Adele, LeBron James, Harry Styles, highlighting a growing interest in Reformer Pilates as a fitness practice.
- **Benefits of Reformer Pilates:** This discipline helps improve muscles, strength, flexibility, prevent injuries, improve stability, increase physical performance, as well as benefit the mind by teaching proper breathing and control.
- **Rebranding Reformer Pilates Athletic from Virgin Active:* In 2024, Virgin Active Italy will introduce Reformer Pilates Athletic, a new formula that combines Pilates with functional training, creating a high-intensity fitness experience .
- *Training Formats Offered:** Three different levels are available to accommodate both beginners (Fundamentals) and those already familiar with the Reformer (Align) and those seeking a more intense and advanced workout (Athletic).
- **Target Demographic:** The offerings vary to appeal to a wide range of customers, from novices to professional athletes, demonstrating an inclusive approach while still focusing on specific customer segments.
- **Innovation in Fitness:** The Athletic class is described as "the real revolution," a class that will "sweep away all preconceptions about the sport," highlighting a strong element of innovation with the integration of functional training into Pilates.
McFIT turns 10: hiring and looking for new properties - 16/01/2024
**History and Growth of McFIT in Italy**
- First location opened in Verona in 2014.
- Currently, McFIT has two clubs in Verona, serving about 10,000 Verona residents.
- In Italy, McFIT operates 44 centers under the umbrella of RSG Group Italia Srl, including the McFIT, John Reed Fitness and Gold's Gym brands.
- In a decade, McFIT Italy has reached more than 170,000 subscribers.
**Investment and Expansion**
- Beginning with a strategic role in Northeast Italy.
- 14 centers in the Northeast out of a total of 44 in Italy, 12 of which are McFIT and 2 John Reed.
- Total investment of more than 40 million euros to date.
- Additional 10 million euros planned for investment in the Northeast, aiming to open 4 new gyms in locations such as Trento, Bolzano and Padua.
- Two new centers planned for 2024 in Trieste (McFIT) and Mestre (Gold's Gym), with an investment of about 10 million euros.
**Social and Economic Impact**
- Generation of more than 300 jobs between direct and indirect employees in the two Northeast regions.
- Collaborations with municipalities to promote sports and wellness.
- Over 300 direct employees and about 170 VAT numbers for group courses in Italy.
**Objectives and Future Vision**
- Opening about 4/5 gyms per year in the first 10 years of operation in Italy.
- Goal to reach 100 gyms in the coming years.
- Mission to make Italy more sporty, with state-of-the-art gyms at affordable prices.
- Provide global business and job opportunities.
McFIT opens in Como, opening today with dignitaries - 28/09/2023
- Total number of McFIT gyms in Italy: 40.
- Location of the new gym: Como, at 2/A F.D. Roosevelt Street.
- Date of opening to the public: September 29.
- Area of the new gym: 2,000 square meters.
- Redevelopment of former industrial area: former Ticosa industrial area.
- Features of McFIT gyms: hi-tech centers, avant-garde design, focus on sustainability, reduction of CO2 emissions, Zero Energy.
- Special offer at launch: free access to services for 6 days, Sept. 29 to Oct. 4, with no subscription obligation.
- Cost of standard annual subscription: 39.90 euros per month.
- Attributes of the new gymnasium: great sense of space, large skylights, economic and social spin-offs for the city of Como.
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