The Fitness Industry in Turkey has a Target Addressable Market of 52 Mn majorly driven by the Young Population & increase in consumer spending.
Around 80% of the population in Turkey, majorly comprising of age group 20-45 years invest 4-8 hours/week are more health conscious and belong to a fitness club. This can also be attributed to a rise in the disposable income: Ken Research
1. With the onset of pandemic & population growth, the fitness services market has got the opportunity of targeting a large customer base.
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Population growth (over 1% in 2020) along with increase in consumer spending (over 8% increase from 2015) has significantly led to increase in average number of members per fitnesscenters.Moreover, virtual access or ‘workout from home’ madegymsandstudiosare increasingconsistency,whichprovidesasaferexerciseregimetotheconsumeratthecomfort of their home thus contributing to the industry growth. Furthermore, an increase in the market size of the fitness industry, the demand for trainers has also seen an uptick which directly impacts the employment rate of the country.
2. The total number of active fitness members stands at over 600,000, with over 13 Mn users, which is majorly driven by rising health concerns, increasing disposable income & increase in women participation rate.
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Turkish population has higher obesity rate (32%) prevalence than most of the European countries with more than 55% of the population being either overweight or obese. The country has a healthcare quality index of 70 with health concerns such as physical inactivity, dental caries, rising weight issues & diabetes (over 8 Mn people (10.0% of the population)). This has not only led to the popularity of fitness centers but has also increased the demand for personal trainers. Moreover, COVID-19 has also led to people joining online fitness sessions. Furthermore, opening up of ladies dedicated gyms such as B Fit Gym with female professional trainers to guide woman's pursuing exercises has created new segment and increasedthefemalememberships inthecountry.Thishasincreasedthepopularityoffitness centers amongst female fitness enthusiasts leading to market expansion.
3. Rising Affluence of middleclass upgrading their consumption lifestyle to opt for luxury services will led the fitness market towards a double-digit growth @18% CAGR.
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Turkey Health and Fitness Center market is expected to witness massive spikes in homeworkout equipment with online fitness market growing at over 23% CAGR and contributing majority of the revenue share (54% revenue share) in the forecasted year. Moreover, consumers are expected to engage with fitness and wellness companies more than ever before in an attempt to adopt healthier lifestyles and build supporting communities. Expansion of women only fitness centers such as B fit offering 30-minute exercise sessions, which is helpful for working women who have little free time, is expected to increase market revenue.