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Top 10 Online Fitness Statistics [*]The online fitness market growth is expected to reach $16.5 billion by 2023 [*]The virtual fitness market size grew by 12% [*]22% of gyms in the U.S. were forced to close due to COVID [*]In 2022, MyfitnessPal earned $10 million in “in-app” revenue [*]47% of gym goers said they would not return to the gym after the pandemic [*]The fitness industry is expected to reach $59 billion by 2030 [*]Garmin and Wahoo are two of the most popular fitness trackers [*]75% of gym users have also purchased online or virtual fitness programs [*]72% of gyms now offer virtual training options and other well-being solutions [*]Between 2020 to 2021, the pandemic cost the online fitness industry $30 billion
Chapter 1: Global Virtual Fitness Market Statistics Amazingly, the online fitness and virtual fitness industries are predicted to see a compound annual growth rate of 41.84%, increasing the economic size of the niche to $16.5 billion in 2023. This continued growth can be attributed to the easing of COVID lockdowns and other measures such as social distancing and tracking apps.
As people gradually get back to everyday life and the restrictions are eased, there has been concern that the industry might see a slow in growth. However, the virtual fitness market has never been stronger, and with a string of new start-ups and some exciting, unique fitness apps, the industry has never looked stronger.
By 2027, the online fitness market growth is expected to surpass an estimated total value of more than $59 billion at a growth rate of between 30% to 33% annually.
Top 3 Virtual Fitness Market Stats [*]The Global Online Virtual Fitness Market was estimated to be worth a whopping $10.71 billion in 2021 (1) [*]Since 2019 the global virtual fitness market has risen by 77.33% to $10.71 billion from its 2019 figure of $6.04 billion. (2) [*]By 2027, the online and virtual fitness market is expected to surpass an estimated total value of more than $59 billion at a growth rate of between 30% to 33% annually. (3) Chapter 2: Online Fitness Industry vs. Fitness Clubs Statistics The online fitness market and virtual fitness markets are calculated to surpass $80 billion by 2026 at an average compound annual growth rate of 49%. One of the primary factors for this growth is the growing popularity of online and, in particular, “on-demand” fitness classes.
On-demand virtual fitness classes are popular with sports institutes, gym-goers, and stay-at-home fitness fans because they offer a wide range of workouts, including different intensity levels, durations, and varying degrees of difficulty. This makes virtual or online fitness programs perfect for nearly every level of fitness.
For example, in 2019, a North American fitness brand launched “Life Fitness On Demand” to further grow its online fitness programs available on the screens of health and fitness equipment like treadmills, rowers, and exercise bikes.
Top 5 Online Fitness Industry vs. Fitness Clubs Statistics [*]Despite the recent problems associated with COVID and the lockdowns, professional gyms, sports institutes, health clubs, and country clubs have continued to expand into the online fitness market while also investing heavily in traditional gym equipment. [*]Of those avid fitness fanatics who regularly attend a traditional gym, 75% are also members of at least one online or virtual fitness app or platform. (4)
[*]Professional gyms, fitness studios, health clubs, and country clubs that offered members the option of virtual and online workouts grew their fitness club memberships and “in-class attendance” by 12% (5) [*]Compared to other gym goers, those fitness buffs who use online and virtual fitness platforms also attend a gym at least three times per week. (6) [*]72% of fitness club owners, gym owners, and fitness studios now offer some form of online or virtual training option at their professional gyms, an increase of 25% from 2019. (7) Chapter 3: Online Fitness Covid Statistics All in all, the COVID-19 pandemic has strengthened online fitness. With gyms, health clubs, and country club closing their doors due to strict safety measures, the online fitness market has continued to grow. In America alone, nearly 40,000 gyms were functioning during 2019, with an estimated 200,000 gyms globally.
From 2020 to 2021, the COVID lockdowns cost the online fitness industry almost $30 billion. Regrettably, the US Congress economic relief packages were unavailable to the fitness industry, which is a primary reason why 22% of US gyms were forced to close permanently.
Many online fitness platforms thrived because fitness-goers did not have to leave their homes to get a challenging workout. In this sense, COVID was a blessing in disguise for the online and virtual fitness market and the online fitness market.
Top 3 Online Fitness COVID-19 Statistics [*]In 2019 40,000 fitness clubs were operating across the entire United States. (8)
[*]From 2020 to 2021, the COVID pandemic cost the health and fitness market $30 billion (9) [*]A 2020 survey revealed that nearly 50% of the respondents were reluctant to return to their gyms. Globally, the numbers were 47% of respondents said that they would not return to their gyms. (10) Chapter 4: Fitness Industry Apps Statistics The outbreak caused by COVID-19 meant that fitness goers had to readjust and modify their fitness lifestyles to achieve their fitness goals.
However, because of the forced modification of the fitness industry, users turned to fitness apps to track, evaluate and improve their fitness levels. Fitness apps can track everything from heart rate and sleep patterns to diet and critical workout data like cadence, speed, and distance traveled.
Additionally, the increase in the availability of smartphones, particularly their affordability, has made the virtual fitness market one of the fastest-growing industries in the world. Coupled with devices like Apple’s iWatch and several other devices like Garmin and Wahoo, the fitness app market is in a good place.
Top 3 Fitness Industry Apps Statistics [*]As of March 2022, MyfitnessPal led the fitness industry app market, generating “in-app revenue” of close to $10 million. [*]The second-ranked fitness industry app was Fitbit, with close to $9 million. [*]The third and fourth-ranked fitness apps were Strava with $5.6 million, followed by Peloton with $3.5 million. (11)
Conclusion It’s clear that the rise in economic growth in the online fitness market has dramatically increased over recent years despite the COVID pandemic. With positive reports from industry experts and insiders, the outlook for the physical fitness industry is promising.
The ongoing expansion of affordable technology into regions like Latin America And South East Asia spells good things for the online and virtual fitness industry. Online fitness apps like Zwift, Peloton, Les Mills International, and several fitness tech startups are also expected to see steady growth over the coming decade.
As these physical fitness brands look to strengthen their foothold in the market, experts believe it will spur a wave of exciting new fitness apps and start-ups across the entire online fitness industry.
This “healthy competition” is critical for the virtual fitness market size and, more importantly, bringing awareness to the importance of living a healthy and balanced lifestyle.
Frequently Asked Questions How Big Is The Online Fitness Industry? How Will COVID-19 Impact The Global Online Fitness Market? Contrary to other industries, the coronavirus pandemic has dramatically boosted fitness as gym owners, and users look to move online to curb transmission. Social distancing, hygiene, and other factors such as QR codes and lockdowns have compelled gym goers to turn to online fitness apps during the pandemic, further boosting its popularity.
What Will Cause The Continued Rise In Online Popularity? The online fitness industry is expected to gain in popularity over the coming years as uncertainty over the COVID pandemic remains. Additionally, a lack of qualified fitness instructors has led many industry experts to estimate a massive jump in growth of 34% by 2027.
Why Will the Online Fitness Industry Boom In South America? While the online fitness market and trends have slowed in some regions, one region that has seen continued growth is South America. In recent years, smartphones, laptops, desktops, tablets, and other devices have become increasingly more affordable for the everyday person meaning they now have access to online fitness apps such as Les Mills International ZWIFT and Strava.
Click here to view the article.
As people gradually get back to everyday life and the restrictions are eased, there has been concern that the industry might see a slow in growth. However, the virtual fitness market has never been stronger, and with a string of new start-ups and some exciting, unique fitness apps, the industry has never looked stronger.
By 2027, the online fitness market growth is expected to surpass an estimated total value of more than $59 billion at a growth rate of between 30% to 33% annually.
Top 3 Virtual Fitness Market Stats [*]The Global Online Virtual Fitness Market was estimated to be worth a whopping $10.71 billion in 2021 (1) [*]Since 2019 the global virtual fitness market has risen by 77.33% to $10.71 billion from its 2019 figure of $6.04 billion. (2) [*]By 2027, the online and virtual fitness market is expected to surpass an estimated total value of more than $59 billion at a growth rate of between 30% to 33% annually. (3) Chapter 2: Online Fitness Industry vs. Fitness Clubs Statistics The online fitness market and virtual fitness markets are calculated to surpass $80 billion by 2026 at an average compound annual growth rate of 49%. One of the primary factors for this growth is the growing popularity of online and, in particular, “on-demand” fitness classes.
On-demand virtual fitness classes are popular with sports institutes, gym-goers, and stay-at-home fitness fans because they offer a wide range of workouts, including different intensity levels, durations, and varying degrees of difficulty. This makes virtual or online fitness programs perfect for nearly every level of fitness.
For example, in 2019, a North American fitness brand launched “Life Fitness On Demand” to further grow its online fitness programs available on the screens of health and fitness equipment like treadmills, rowers, and exercise bikes.
Top 5 Online Fitness Industry vs. Fitness Clubs Statistics [*]Despite the recent problems associated with COVID and the lockdowns, professional gyms, sports institutes, health clubs, and country clubs have continued to expand into the online fitness market while also investing heavily in traditional gym equipment. [*]Of those avid fitness fanatics who regularly attend a traditional gym, 75% are also members of at least one online or virtual fitness app or platform. (4)
From 2020 to 2021, the COVID lockdowns cost the online fitness industry almost $30 billion. Regrettably, the US Congress economic relief packages were unavailable to the fitness industry, which is a primary reason why 22% of US gyms were forced to close permanently.
Many online fitness platforms thrived because fitness-goers did not have to leave their homes to get a challenging workout. In this sense, COVID was a blessing in disguise for the online and virtual fitness market and the online fitness market.
Top 3 Online Fitness COVID-19 Statistics [*]In 2019 40,000 fitness clubs were operating across the entire United States. (8)
However, because of the forced modification of the fitness industry, users turned to fitness apps to track, evaluate and improve their fitness levels. Fitness apps can track everything from heart rate and sleep patterns to diet and critical workout data like cadence, speed, and distance traveled.
Additionally, the increase in the availability of smartphones, particularly their affordability, has made the virtual fitness market one of the fastest-growing industries in the world. Coupled with devices like Apple’s iWatch and several other devices like Garmin and Wahoo, the fitness app market is in a good place.
Top 3 Fitness Industry Apps Statistics [*]As of March 2022, MyfitnessPal led the fitness industry app market, generating “in-app revenue” of close to $10 million. [*]The second-ranked fitness industry app was Fitbit, with close to $9 million. [*]The third and fourth-ranked fitness apps were Strava with $5.6 million, followed by Peloton with $3.5 million. (11)
The ongoing expansion of affordable technology into regions like Latin America And South East Asia spells good things for the online and virtual fitness industry. Online fitness apps like Zwift, Peloton, Les Mills International, and several fitness tech startups are also expected to see steady growth over the coming decade.
As these physical fitness brands look to strengthen their foothold in the market, experts believe it will spur a wave of exciting new fitness apps and start-ups across the entire online fitness industry.
This “healthy competition” is critical for the virtual fitness market size and, more importantly, bringing awareness to the importance of living a healthy and balanced lifestyle.
Frequently Asked Questions How Big Is The Online Fitness Industry? How Will COVID-19 Impact The Global Online Fitness Market? Contrary to other industries, the coronavirus pandemic has dramatically boosted fitness as gym owners, and users look to move online to curb transmission. Social distancing, hygiene, and other factors such as QR codes and lockdowns have compelled gym goers to turn to online fitness apps during the pandemic, further boosting its popularity.
What Will Cause The Continued Rise In Online Popularity? The online fitness industry is expected to gain in popularity over the coming years as uncertainty over the COVID pandemic remains. Additionally, a lack of qualified fitness instructors has led many industry experts to estimate a massive jump in growth of 34% by 2027.
Why Will the Online Fitness Industry Boom In South America? While the online fitness market and trends have slowed in some regions, one region that has seen continued growth is South America. In recent years, smartphones, laptops, desktops, tablets, and other devices have become increasingly more affordable for the everyday person meaning they now have access to online fitness apps such as Les Mills International ZWIFT and Strava.
Click here to view the article.
