Getting fitter: Industry revenue is anticipated to grow in 2023-24, but remain slightly constrained by the rising cost of living
Industry demand is largely dependent on discretionary income, meaning performance in recent years has been widely determined by economic conditions. Industry revenue is expected to decrease at a compound annual rate of 1.8% over the five years through 2023-24 to £705.1 million. Rising disposable income levels and increasing health consciousness led to consistent revenue growth over the three years through 2019-20. However, trends such as budget gyms and at-home fitness classes have risen as a result of falling consumer confidence, limiting demand for personal trainers. Regardless, low barriers to entry have meant the number of personal trainers has skyrocketed. Revenue is estimated to have declined by 23.8% in 2020-21 during the COVID-19 pandemic. Following a rebound in 2021-22 due to the easing of restrictions, revenue is anticipated to grow by 1.4% in 2023-24, remaining somewhat constrained by the rising cost of living.
Operators in this industry offer fitness training to individuals or small groups. They may also provide personalised fitness, health and dietary advice. Personal trainers are typically self-employed, but some work on contract with gyms and fitness studios.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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