Vietnam Fitness Club Market is Expected to Reach Over USD 3.5 Billion by the Year Ending 2023: Ken Research
GURUGRAM, India, July 15, 2019 /PRNewswire/ --
- In future, it is anticipated that the revenue share of organized gym centers will reach to 18.5% by the year ending 2023E.
- Penetration rate of fitness services in Vietnam is expected to increase in future and will reach up to 7.7% by the year end 2023E.
- Shift in choice of people towards total body endurance exercise from hardcore gym training is acting as major catalyst for growth in Vietnam fitness services market. Major companies such as Citigym, MMA Gym Fitness Centre will be expanding its number of fitness outlets leading to growth in the market.
Entry of New Players in the Market: Growth in Vietnam fitness services market will mainly be facilitated by growing penetration of organised fitness service centres. Number of fitness outlets of existing players such as California Fitness and Yoga Centre, Elite Fitness, Fit24 and others are expected to amplify service quality in the coming years. Moreover, new players are also projected to enter the organised fitness market, leading to growth in the overall industry. Furthermore, additional services offered by organised fitness service market players will enhance the confidence of Vietnam people to achieve better health regime.
Increasing Penetration of Organized Gym Centres: Penetration of organised fitness service centres in the space is also likely to incline at a rapid pace as major organised gyms are focusing towards expanding their services into sub - urban areas as well. It is expected that number of organized fitness gyms will be more than 600 by 2023E, leading to further growth in awareness about health consciousness among the people in the country. Growing demand of group exercises will also lead to contribute unorganised fitness service centres to provide additional services to its customers in future.
Rising Preference for Group Exercise: Shift in choice has been observed among people of Vietnam from hardcore gym training to full body endurance exercise as they are opting for more number of zumba, Pilate's classes. Demand for Zumba, Pilates, Cross fit, Martial arts is expected to increase significantly over the coming years. Group classes' exercises are more energetic and result oriented and attracts all age type of people irrespective of their genders.
Analyst at Ken Research in their latest publication "Vietnam Fitness Services Market Outlook to 2023 - By Subscription Period, By Organized and Unorganized, By Revenue Streams (Membership Fee and Personal Trainer Fee)" believed that the demand for fitness service in Vietnam will increase due to rising fitness awareness among people, surge in disposable income, expansion in service portfolios of organised fitness service centres and increasing penetration of organized gyms in sub urban areas.
The market is expected to register a positive CAGR of 19.5% in terms of revenue during the forecast period 2018-2023E.
Key Segments Covered
By Type of Market (Number of Gym Members and Number of Gyms)
- Organized Market
- Unorganized Market
By Source of Revenue
- Membership Fee
- Personal Training
By Number of Gyms by Subscription Fee
- VND 0-5 Million
- VND 5-12 Million
- Above VND 12 Million
By Subscription Period
- 1 Month
- 3 Month
- 6 Month
- 12 Month
Key Target Audience
- Organized and Unorganized Fitness Centres
- Fitness Equipment Manufacturers
- Sports Authority
- Private Equity Firm
- Fitness Training and Trainers Associations
Time Period Captured in the Report
- Historical Period: 2013-2018
- Forecast Period: 2019-2023
Major Fitness Centres Covered
- California Fitness and Yoga Centre
- Elite Fitness
- Fit24
- AKC Fitness
- MMA Gym Fitness Centre
- Citigym
- Curves
- Nutrifort Fitness
- Advance Fitness
- Yoga Center – VYOGA World 3/2
- Star Fitness HCM
- Diamond Fitness Center
- Times Plus Fitness and Yoga
- Body Fit Fitness and Yoga
- Platinum Fitness and Kinesis
- VShape Fitness & Yoga Center
- Swequity Ultimate Fitness
- Thanh Hai Gym
- N Club
- Vital fitness and yoga center
- MD Fitness
- Lykos Kickfitness Center
- N-shape Fitness
- KBE Fitness
- AE Fitness
- Universal Yoga
- New Fitness and Yoga
- Fitness and Yoga Centre Igym
- Olympic Nha Trang Gym & Fitness
- CLB gym T&V Fitness
- Hanoi Kendo Club
- Teekiu Fitness
- Body SHAPE Gym
Key Topics Covered in the Report
- Vietnam fitness Services Market Genesis & Overview
- Vietnam fitness Services Market Ecosystem
- Vietnam fitness Services Market Snapshot on Personal Trainer
- Vietnam fitness Services Market Size
- Vietnam fitness Services Market Segmentation by Market Structure (Organized and Unorganized),
- Vietnam Fitness Services Market Segmentation by Subscription Period (1 month, 3 months, 6 months and 1 year),
- Vietnam fitness Services Market Segmentation by Revenue Stream (Membership Fee and Personal Trainer Fee)
- Vietnam fitness Services Market Segmentation by Subscription Fee (0-5 Million VND, 5-12 Million VND and Above 12 Million VND)
- Vietnam fitness Services Market SWOT analysis
- Vietnam fitness Services Market Competition Scenario
- Vietnam fitness Services Market Company Profiles of Major players
- Vietnam fitness Services Market Future & Segmentations
- Snapshot on Other Fitness Services Market of Vietnam
- Vietnam fitness Services Market Analyst Recommendations
For more information on the market research report, please refer to the below link:
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The report provides a comprehensive analysis of fitness services market genesis and overview, market ecosystem, market structure, market size, and market segmentations by Market Structure (Organized and Unorganized), by Subscription Period (1month, 3 months, 6 months and 1 year), by Region (Dubai, Abu Dhabi, Sharjah and others), by Revenue Stream (Membership Fee and Personal Trainer Fee) and by Personal Trainer Market Structure (Organized and Unorganized). The report profoundly covers major market growth drivers, market trends and challenges, snapshot on personal trainer market, snapshot on other fitness services market, customer profile in fitness services market (by gender and by fitness level), Target profile of personal trainers (by gender, by experience, by major nationality and by annual salary), decision making parameters for a customer to choose fitness center, major pain points faced by customer for a fitness center and SWOT analysis. Competition landscape, competition nature, major competition parameters and company profile of major players (Fitness first, Gold's Gym, Lifeline Wellness, Target Gym, Fitness 360, Fitness Time, Fitness Terminal) have been given prime importance. The report also covers future market size along with market segmentation and analyst recommendation including where to set up fitness center, which all services should be offered, what better practice should be followed for attracting customers,
The report covers market size by organized and unorganized fitness services providers along with market segmentation by revenue stream (membership subscription and personal training), by market structure (organized and unorganized), by region (Riyadh, Makkah, Madinah, Dammam, and others including Tabuk, Asir, Hail, and Jizan), by gender (male and female), and by membership subscription (12 months, 6 months, 3 months and others including 1 month and 2 months). It also includes market size (by revenue, membership and number of fitness centres), emerging trends and developments, issues and challenges, customer pain points and decision making parameters, investment model, and competitive landscape of players in organized sector including Fitness First, Gold's Gym, Fitness Time, World Gym, Active Time, Arena MMA Fitness, Bodyline VIP center, Central care, Al Manahil, Al Multaka, Interval Plus CrossFit, NuYu, Curves, Spectrum Wellness for Women, Kore, Lava Fitness, Glow Fit, Kinetico, Fit Zone, Pulse Studio, Studio 55, 9 Round, The Power Gym, Body Masters, Muscles Factory, and Fitness Maker. The report also covers government rules and regulation, future outlook and projections analysis along with analyst recommendation and macroeconomic variables highlighting the major opportunities and cautions.
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The key target audience includes women fitness service centers, mixed fitness service centers, major fitness equipment manufacturers, investors, personal training certification institutes and standalone yoga centers.
Contact Us:
Ankur Gupta, Head Marketing
Ken Research Private Limited
Ankur@kenresearch.com
+91-9015378249
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