Content of the study:
The fitness market - Portugal

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MARKET OVERVIEW

1.1 Definition and presentation

The fitness market gathers all the practices of the sports center related to the well-being of the body . Fitness clubs generally offer group sessions, weight training and cardio machines, but also sometimes personalized coaching or even relaxation areas (juice bar, spa, zen room...).

In addition to fitness clubs, the fitness market more recently includes applications that offer personal trainers, outdoor fitness communities as well as applications and connected objects for performance measurement.

The fitness industry continues to experience fairly strong growth, as evidenced by total fitness club membership, which grew by 5% in 2017, according to Deloitte.

However, there is currently a price war between players in terms of memberships. This obviously leads to a decrease in average revenue per club, going from €848,000 in 2012 to €595,000 in 2017, a 30% decrease over 5 years according to Stadline.

With a penetration rate of less than 6% of the population, growth in Portugal is still slow. since this type of service is not a priority in the population's budget, many players are focusing on the low-cost segment, without towels, pool or sauna. This is undoubtedly the fastest growing segment and, with few established players, opens the way for new competitors.

1.2 Global fitness market

The global fitness market grew from **** to **** by approximately USD **.** billion with a CAGR (***) of *.**%. However, the global gym industry is expected to contract by approximately **.**% due to Covid.

Global Fitness Market Size World, ****-****, in billions Source: ****

Geographic breakdown of the European fitness market Europe, ****, as % of total Source: ****

1.3 Fitness market in Portugal

Two major trends characterize the fitness market in Portugal. First, growth was observed between **** and ****, with a CAGR of **.*%, due to the increased awareness of the population about the importance of health and physical activity. On the other hand, the fitness market in Portugal saw a **% decline in value between **** and ...

1.4 Impact of covid

Due to the Covid pandemic, gyms have closed for several months, which first consequence was the fitness clubs turnover's significant decrease.. Thanks to a proposal of the AGAP (***), the government decided to help the fitness sector, which has suffered greatly from the lockdown in the country. Thus, several aids have been ...

ANALYSIS OF THE DEMAND

2.1 Profile of fitness club members and frequency of use

A survey conducted in **** by AGAP (***) revealed the profile of fitness club members. This study can be representative of reality because of the large number of clubs that were used for the study, namely *** clubs. [***]

First of all, the study showed that the majority of members in **** were women: **% versus **% men. ...

2.2 Member preferences

Fitness clubs may be owned by chains such as Fitness UP, Holmes Place or Sonae Capital, or they may be individuals such as Circle or The Code. Retention rates vary depending on the type of club. While chains have a much larger presence in the country than individual clubs and concentrate ...

2.3 Growth in membership and penetration rate

Prior to the pandemic, membership in Portugal was growing rapidly, with the goal of reaching one million members by ****. In fact, between **** and ****, gym memberships increased by **% and the penetration rate of physical activity participants rose from *.*% to *.*% over the same period. However, this rate remains well below the European average ...

MARKET STRUCTURE

3.1 The different segments of the fitness market

First of all, as we have already mentioned, fitness clubs can belong to large chains or be individual. In Portugal, a significant increase of **% was observed in **** of gyms belonging to large chains. However, the growth of individual gyms was *% in the same year. Thus, in ****, about **% of fitness clubs belonged ...

3.2 Geographical distribution of gymnasiums

AGAP 's study provides an overview of the distribution of gyms in the country. It can be seen that the top six cities (***). It is also interesting to note that despite the fact that the majority of clubs in these cities are chains, the concentration of individual clubs in these top ...

3.3 A highly concentrated market

The fitness market in Portugal is dominated by three major chains: Holmes Place, Fitness Hut and Solinca. Holmes Place is in first position with ** gyms in the country in ****, followed by Fitness Hut which has ** gyms in Portugal so that Solince occupies the third position with ** fitness clubs in the Portuguese ...

ANALYSIS OF THE OFFER

4.1 Typology of the offer

Different services are offered by the fitness industry. First of all, gyms offer many possibilities of activities, although some services such as sauna, spa, etc. are available low cost. Another service whose supply has decreased in clubs between **** and **** are group classes, which can be explained by the increase in members' ...

4.2 Evolution of the average monthly fee for fitness clubs

The average monthly rate for fitness clubs increased significantly between **** and ****, from €**.** to €**.**, due to price growth in the premium sector, whose average monthly rate increased by **% between **** and ****. The low-cost and mid-market sectors have been characterized by a decrease in prices since ****, meaning that the average monthly rate of gyms ...

4.3 Supply trends

Growth of the low-cost sector

In recent years, large chains have understood the importance of price in the decision of Portuguese people to join a fitness club. Thus, the low-cost sector, characterized by an average monthly fee that is almost half the price, has experienced significant growth, especially since ****. For example, ...

REGULATION

5.1 Gymnasium installation and physical trainer title

The various laws that apply to the fitness market concern the installation of gyms, the technical responsibility for the safety of fitness clubs : - Law number ***/**** [***]

Law **/**** has a category for sports trainers, but the exercise of the activity of sports trainer and the access regime are detailed in the following ...

POSITIONING OF THE PLAYERS

6.1 Positioning of the actors

  • Holmes Place International Ltd
  • Fitness Hut
  • Solinca
  • The Code
  • TimeTofitness24

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Reviews (1)

The fitness market - United States

Publicado en 11/12/2021 by Roberto Lelion

The study is well summarized, clear and easily understood. Suggestions are made and this is appreciated.


Businesscoot Response:

Hello Roberto, Thank you for your feedback, and we are happy to read that you are satisfied with this study.