VariousGovernmentInitiativesHelptheKSAFitnessEquipmentMarkettoGenerateoverUSD 100Mnin2021.IstheGrowthSustainable?KenResearch
KSAFitnessEquipmentIndustryrecordedanexpansionof13.7%inbetween2016and2021.,as perfindingsreleasedbyKenResearch.
1.TheQuality-of-LifeProgram–SaudiVision2030–supportedmajorsportsinitiativesand projectsin2021,implementedbytheMinistryofSports,theSaudiOlympicandParalympic Committeeanditsaffiliatedfederations.
OtherChallengesinFitnessEquipmentMarket
TheprogramlaunchedundertheVision2030aimstopromotepublicparticipationinvarious sportingandphysicalfitnessrelatedactivities.Itaimstoincreasetheemploymentgenerated throughsportsandrecreationalactivities,withthevisionthatmoreandmorepeoplewill participateinthesportsandfitnessregimes.TheinitiativesoftheQualityofLifeProgram,which arepartoftheSaudiVision2030,contributedtothegrowthofthesportssector’scontribution totheKingdom’sGDP,fromAlmostSAR2.3billiontoSAR6.4billionwithintwoyears,an increaseofmorethan150%.UnderVision2030initiative,thegovernmentaimstodiversifyits economysoastoreducedependenceontheoilandnaturalgassector.Oneofthemainaimsof theinitiativeistoincreaseemploymentrateofSaudicitizensacrosssporting,physical,and fitnessindustriesamongothers.
2.OpeningupFitnessFacilitiesforFemalesbyGovernment,GivesOpportunitiestoFitness EquipmentMarketPlayerstoLaunchWomenSpecificFitnessEquipmentAsWell. Malemembershipreachedalmost900,000whilewomenmembersreached200,000,an increasehasbeenwitnessedinmen’sgymsandfitnesscentersfrom485,000in2012to890,000 in2017.Itisnotedthatthewomen’sgymsandfitnesscentermarketisexpectedtoincreasedue totheapprovalofallowinglicensesforwomengymsandfitnesscenters.Since2017various womencentricfitnesscentershavelauncheditsoperationinKSApostgovernment’sdecisionto openupfitnessfacilitiesforwomen.Thisinturniscontributingtothegrowingdemandoffitness equipmentrequiredatthesefacilities.Theinitiativeenhancedtheprospectiveofthefitness servicesandalliedindustrytocatertothewomenpopulation.
Organized by The Saudi Sports for All Federation (SFA) each year, this is a 3-day virtual event focused on bringing a number of the Kingdom’s and regions best female athletes, trainers and more under one platform. This includes live workout sessions by the best trainers of the region and training for various health regimes focused on women. This program to encourage people in taking up fitness and physical activities on daily basis. In 2012, Saudi Arabia for the first time sent 2 female athletes to the Olympic Games, held in London. There has been a significant rise in the numbers of female athletes, owing to various live workout sessions and skill training provided to the females in the KSA.