The Vietnam Fitness Services Market size was estimated to hit around USD 3.78 billion by 2030 and is poised to grow at a compound annual growth rate (CAGR) of 19.08% from 2022 to 2030.
Vietnam Fitness Services Market: Breakup by Region, 2022 & 2031
Source: Primary Research and Secondary Research Analysis
Since people have become more conscious of the value of fitness and health, the market for fitness services in Vietnam has grown significantly. The market offers a wide range of services, including sales of fitness equipment, personal training, group exercise programmes, and gym memberships. Some of the main factors driving the market growth are increased disposable incomes, greater health consciousness among the populace, and the expansion of the middle class.
The fitness services market in Vietnam is dominated by gym memberships, which hold around 55% of the overall market share. Due to the rising number of gyms and fitness facilities around the nation as well as the accessibility of reasonably priced memberships, this market is expanding.
As more people are willing to spend money on specialised training programmes to attain their fitness goals, personal training and group fitness classes are expanding market segments. Sales of fitness equipment are also increasing as consumers want to work out at home in the wake of the COVID-19 outbreak.
There are several noteworthy trends in the Vietnam fitness service market. Firstly, there is a growing interest in fitness technology, with an increasing number of individuals using fitness apps, wearable fitness trackers, and other digital tools to monitor their progress and receive personalized training plans. Secondly, there is a rise in popularity of boutique fitness studios that offer specialized classes like yoga, Pilates, and HIIT workouts, despite traditional gyms and fitness centers still dominating the market. Thirdly, there is a heightened focus on overall health and wellness, resulting in a growing demand for fitness services that include nutrition coaching, mindfulness training, and stress management. Fourthly, the COVID-19 pandemic has accelerated the adoption of virtual and at-home fitness solutions, including online fitness classes and sales of fitness equipment for home use. Finally, businesses are investing in corporate wellness
Vietnam Fitness Services Market
programs to promote health and wellness among their employees, which includes providing fitness services like gym memberships, onsite fitness classes, and wellness coaching.
California Fitness and Yoga, Elite Fitness, Fitness First, Yoga Plus, and others are some of the major participants in the Vietnamese fitness services sector. Several players are developing new fitness programmes and technology, as well as focusing on new consumer segments, to broaden their product offers.
Overall, it is anticipated that Vietnam’s market for fitness services would keep expanding due to rising middle class levels and public awareness of health issues.
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