3CatalyststotheFitnessEquipmentMarketinKSA;HowTheseWouldShapetheFitness EquipmentIndustry?KenResearch
RevenuegeneratedfromthesalesoffitnessequipmentinKSAisexpectedtostandatnearlyUSD 230Mnbytheendof2026,asperfindingsreleasedbyKenResearch.
1.Approximately,2.5millioninhabitantsinKSAareExpectedtoJoinGymandFitnessCenters bytheEndof2026.
OtherChallengesinKSAFitnessEquipmentMarket
ThefitnessindustryinKSAwasoncedominatedbythewealthyandexpats,nowanewwaveof localgymsanddanceandmartialartsstudiosareemergingtoserveafast-risingnumberof young,lessaffluentfitnessenthusiasts.Itisestimatedthatinbetween2021and2026,total numberofmembersavailingoffitnessserviceswillbeexpandingataCAGRofover10%.With therapidexpansioninthenumberoftotalmembers,thedemandforfitnessequipmentis expectedtosurgeincomingyears.
2.Nearly,19ktotalemploymentsgeneratedin2020;GrowingWorkingAgePopulationSetsthe PathfortheFitnessEquipmentinIndustryinKSAtoGenerateRobustGrowth.
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Over45%oftheoverallpopulationinKSAbelongedtotheworkingagepopulationaged25-54 yearsasof2021,whichisestimatedtocontributetomorethan50%bytheendof2030. ConsumersbelongingtothisagegroupinKSAarehealth-consciousindividualswhoinorderto maintainphysicalhealthresorttovariousfitnessrelatedactivitiessuchascycling,walkingand workingoutamongothers.Withtheriseinawarenessontheimportanceofphysicalhealth,the demandforhighendfitnessequipmentwillwitnessasurgedrivenbyconsumersbelongingto thisagegroup.
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COVID-19erahaswitnessedbusinessesstrengtheningtheirdigitalpresenceinordertoattract consumersastheirpreferenceshaveshiftedtohome-basedfitnessactivitiesaspertheir convenience.Theshiftinpreferencetowardsavailingfitnessservicesatthecomfortofhomehas contributedintheincreaseddemandoffitnessequipmentsuitableforhomeandresidential purposessuchasyogamats,resistancebandsanddumbbellsalongwithexercisebike,elliptical andtreadmills.Moreover,“YourHome,YourGym”Campaign,launchedinmid-march2020
3.“YourHome,YourGym”CampaignalongwithCovid-19PandemichasRisentheImportance ofHome-BasedFitnessEquipmentinKSA.
followed by the advent of COVID-19, the campaign focuses on encouraging people to participate in regular fitness activities at the comfort of home due to the restrictions in physical movements.