Fitness: A Healthy Investment For Future
“Look Good, Feel Great”- that’s how any motivational speech begins at a fitness center. Although clichéd, it still makes you think. Such is the power of this ever-changing yet ever-growing industry of fitness & health. It is not just a luxury anymore- privy only to the elite class. The landscape of fitness industry is changing at a fast pace and it is now finding a place in almost every other household. People are increasingly moving towards looking fit. “From Fat To Fab” is trending on every other social media platform. Fitness is now a hobby, a way of life. And every single upward graph point to that.
According to the IHRSA report, total fitness industry revenue was an estimated $94bn in 2018, with a growth rate of 8.7% globally. If the trajectory rise continues, it is estimated to reach almost $106bn in 2020. With health clubs, nutrition foods, wearables and athleisure topping the trends chart, the fitness industry is booming.
Why is fitness industry so much on the rise? Here are top 5 reasons for that:
- Healthy Eating Alternatives
Processed food is a thing of past now. People are now shifting their diets to include more organic and naturally grown food produces. This mindfulness of consumption has made people less reluctant towards being fit. Millennials are known for not engaging in matters that do not speak to them and fitness has made a way straight into their hearts. They are more informed about lifestyle impacts on longevity of life. This leads to experimental diets and wholesome foods intake.
- Athleisure & Wearables
From super models to super stars, everyone is now talking the talk of athletic clothing. Fitness clothing has encountered a radical makeover to make it more chic, relaxed and fashionable. With that, came accessories to complete the effortless athleisure look, usually called wearables. Many big brands are offering biometric heath apps on wearables which keeps track of daily activities. Health market’s largest segment is Wearables with a projected market volume of US$18,984m in 2020. This has made fitness a lucrative segment.
- Workout From Home & Cheaper Gyms
With healthy eating comes healthy living. Consumers prefer convenience over anything. Add to that mix good quality and flexible hours, and it’s a winning bid! Gyms and fitness studios are now reshaping their business structures to accommodate the increased demand. They are also offering customized session and personalized training to engage more customers. Consumer trends also suggest more people opting for workout session at home, be it over video calls or house visits. These multiple options offer ease of choice and helps retain consumers for a longer period.
- Health-Conscious Population
Nothing holds attention of people more than increased quality of life. One of the easiest ways to achieve that it opting for wellness and fitness regime. With higher healthcare costs, early retirement plans and fitness trackers on smartphones, people are inching towards losing inches off their waist. Consumers are ready to opt for a healthy lifestyle that is inharmony with their life goals. According to the World Health Organization, chronic diseases are estimated to rise by 57% by 2020. This suggests an alarming need for healthy eating and an active lifestyle.
- Influencer Culture
By 2021, it is thought that there will be 3.1 billion users on social media. With big brands tying up with major stars and social media influencers to promote a certain fit lifestyle, it is exemplary of how influencer culture shapes consumer’s psyche. Instagram has over 300 million posts on hashtag fitness. The charm of looking lean and athletic is evergreen and social media is fueling the already burning fire. One look at a brand’s page and customers are star struck with the desire to look as smart as their idols.
Fitness is now a business. To capitalize when the tide is high is the right thing to do. Every single day, there is a new innovation, a new athleisure trend or a new diet plan available to spin it in the favor of communal good. TCW has a vast portfolio of businesses that cater to health and fitness sector. From Health Foods, Spas, Fitness Studios and Services, we have got it all to make our consumers look good and feel great about themselves!