Fitness is the need of the hour in our country because India is the home to the second highest number of young people who have excess weight and people who have high diabetes level. However, the studies say the number of people working out in the gym is increasing because of growing awareness towards ‘being fit’. Another major reason is due to the increase of gym culture in India. This culture is still taking baby steps and needs more organized approach. The industry is growing at a rapid pace and holds a huge potential for growth in coming years.
Established and biggies in fitness chains and gyms are expanding their products and services to reach out to the people and help them achieve healthy mind and body.
As per the news published in Economic Times, below are the details of fitness start-ups (other updates in the industry) in 2017 Recent investments in Fitness Startups.
Image source: economic times
Apart from the start-ups there are international brands that are looking for expansion in the country such as
- Hypoxi is been in the industry for past 18 years, present in 30 countries with almost 3000 studios. Until last year this brand has 4 studios in India and looking forward to more studios.
- Jymka has a concept of ‘family gyms’ and had taken over the Indian fitness market. It has 100 franchises in India.
- Impulse Studio this brand is making a huge impact on Indian fitness industry. It is planning to have 100 studios in India by 2020.
Some of the Indian brands like Talwalkars, Barbarian power gym, Champion and many Indian brands are not missing out single opportunity to grow and make a positive impact on people’s fitness level.
The fitness industry today is moving forward with the aim of tone body, well-being, and confidence to its customers. It is also seen that in most of the gym 45% of the members are females. Some of the activities very popular among the females are Zumba, aerial yoga, Pilates, and kickboxing.
Fitness market and the future expectations:
The industry has its presence in the country for many years but only in the past few years, it is been growing.
- Revenue in India 2017: Rs 95,000 crore.
- Fitness Retail market Value: Rs 4,579 crore.
- The industry is also looking forward to CAGR of almost 25% every year. (Compound annual growth rate)
- Fitness industry occupies more than 20 % of total wellness market.
- Spending on fitness was earlier a luxury but now it is a way of life.
- Fitness is visible in metropolitan cities and in tier 2 and tier3 cities.
Reports have stated that India is one of the largest numbers of population in the working group and the average age is expected to be 29 by 2020. One of the main reasons for the increase in the gym culture in India is higher disposable income apart from other factors.
The business opportunity in this industry is huge as there are many brands that work with the members for ideal BMI (Body Mass Index). A Number of people seeking help in this area are increasing day by day due long hours of work and stress in daily life. People are open to investing in the gym membership and also ready to take time from their busy schedule to improve their physical and mental health.
Many corporate, IT companies have come up with in-house small gym setups for their employees to maintain balance their work as well as their exercise routine.
Firstly to start with, Fitness industry has seen growth till 2017 and we are just in the first month of 2018. The statistics till 2017 clearly shows an upward trend and holds a bright future in coming years. Secondly, the people who desperately need an exercise routine with professional guidance are increasing day by day. Thirdly this scenario is a huge opportunity for the existing brands in the fitness industry. Fourth and last point this scenario also holds full scope for more new brands within the country and more launch of international brands in the country.