The Fitness Service Market in Kuwait to 2022, Expected to Grow at a CAGR of Approx 10% - Breakdown by Revenue Stream, Market Structure, Region and Gender - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Feb 25, 2019--The “Kuwait Fitness Service Market Outlook to 2022 - by Revenue Stream (Gym and Personal Training), by Region, by Gender, by Membership Subscription, by Organized- Men’s Gym, Women’s Gym, Mixed Gym, CrossFit and Unorganized” report has been added to ResearchAndMarkets.com’s offering.
Time Period Coverage
The Kuwait Fitness Service market has grown owing to the rising number of expatriate population, increasing obese population, rise in health consciousness among the adults, growth of national income, changing lifestyle of people, innovative marketing strategies being implemented by the fitness centers in the country, higher demand for fitness services by women and the growing number of penetration of international fitness brands across the country.
The market is currently placed in growth stage with strong possibility for further growth at a much rapid pace. Profitability associated with fitness services is highly correlated with multiple factors such as improving the effectiveness of fitness services provided, cost reduction related to equipment procurement, customer retention and relationships, having diversified services portfolio with trained professionals, flexible schedule of classes and use of latest gym equipments amongst various others.
A major contributing factor to the boost in revenue had been the addition of integrated fitness services such as, Yoga, Pilates and Swimming; all under one roof. Remaining factors which have supplemented growth include increase in the demand for personal training and increasing national disposable income of Kuwait amongst various others.
In terms of membership, the Kuwait fitness service market observed a robust double digit CAGR over 2012-2017. The fitness services market in Kuwait has been witnessing an upward trend and has registered a positive CAGR during 2012-2017 in terms of number of fitness clubs. The number of fitness centers in Kuwait has increased because of the expansion in the number of organized gyms, increase in the number of female specific fitness centers and increase in ease of doing business with the implementation of the new partnership law.
Future Outlook of the Market
The Kuwait fitness service market revenue has been anticipated to grow registering a robust CAGR of close to 9% during 2017 to 2022. This revenue generation will be supported by the increasing number of membership which is expected to grow with a double digit CAGR of close to 10% during 2017 to 2022.
Kuwait Fitness Service Market Segmentation
By Revenue Stream: Membership fees have been the largest revenue generating segment in Kuwait in 2017. The revenue generated by Personal Training has particularly been benefitted by the continuous growth in the demand for qualified fitness professionals and certification courses in the country. New fitness centers mushrooming in majority of developing and developed cities, government’s indirect contribution to the market by construction of more number of parks, cycling lanes and running lanes to support and promote active lifestyle has contributed to change the mindset of the population to opt for fitness services.
By Market Structure: Unorganized sector has contributed majority share to the total revenue generated through fitness services in 2017. The remaining market share has been contributed by organized sector which includes various entities such as men’s gym, women’s gym, mixed gym and crossfit indulged in providing all kinds of fitness services. Unorganized centers have been better able to make use of this opportunity and enter the fitness industry because it is cheaper and for the fact that it is easier to set up an unorganized fitness center as compared to the organized one. Fitness First, Al Corniche, Circuit Plus have been some of the major organized players in 2017.
By Region: Hawalli has accounted for the maximum number of fitness centers because it is the commercial capital of the country. The major reason responsible for the concentration of fitness centers in Al Asimah has been the expanding business clusters in the region. With Al Asimah being the capital governorate of the country, majority of fitness centers have emerged here. Majority of the urban and wealthy population reside in these regions. This set of audience usually opts for a healthy lifestyle and has the resources to spend on fitness services. These regions are followed by Al Ahmadi, Al Farwaniyah, Mubarak Al Kabeer and Jahra in terms of having higher number of fitness centers in 2017.
By Gender: The market for fitness services had been majorly driven by the country’s male population due to the societal norms associated with women in Kuwait. Men have been found to be more prone to changing lifestyle trends and fashion trends associated with fitness in Kuwait. Women have started becoming more conscious and it has been witnessed that there has been a surge in the number of women members at various fitness service centers in the country. The demand for female specific services and fitness centers has already started picking up and this trend is assumed to continue in the future.
The industry is fragmented with the presence of several organized gym chains and number of unorganized fitness clubs in the country. These provide gym services along with supplementary facilities such as spa, sauna, swimming pool, showers, lockers and others. Few of the major organized players include Fitness First, Flex Fitness, Spark Athletic center, Flare Fitness, Oxygen Gym, Al Corniche, Palms Beach Club, C-Club, Platinum Health Club, Peak Fitness, Pilates and More, Desert Fitness, Circuit Plus, Orangetheory Fitness. The major unorganized players have been Studio X, Hero Gym, Steam Gym, Trim Club, Hype Gym, Physique, Alta Fitness, VIE Fitness Studio and 20 7 Fitness Studio.
Organized Fitness Services Providers: Fitness First, Flex Fitness, Ras Al Salmiya, Orange Theory Fitness, Rush Gym, Circuit plus, Spark Athletic Center, Al Corniche, C-Club, Palms Beach Club, Inspire Fitness, Oxygen Gym, Active Fitness, Platinum Gym, Peak Fitness, Sweat Studios, Pilates And More, Flare Fitness, Desert Fitness.
Unorganized Fitness Services Providers: Alta Fitness, Hero Gym, Steam gym, Studio X, Physique, Trim Club, Marina Fitness Center, Jumeriah Fitness Center, La Femme, Hype Gym, Hiltonia, Gold’s gym, Lady Power, Keep Fit Gym, iFitness and others.
Key Topics Covered
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Related Topics:Fitness Centers and Health Clubs
KEYWORD: KUWAIT MIDDLE EAST
INDUSTRY KEYWORD: HEALTH FITNESS & NUTRITION
SOURCE: Research and Markets
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PUB: 02/25/2019 06:03 AM/DISC: 02/25/2019 06:03 AM