You are a business owner running a successful Fitness business in India, and now wondering if it is the right time to consider franchising it. Yes, this is the perfect time to adopt the franchise business model to expand your fitness business in India.
Read the article to know more about the fitness industry performance in India, what makes the Fitness Business a profitable opportunity to grow and trend drivers that are setting the market high for business expansion in India.
How Covid Changed the Fitness Business in India?
According to studies, there has been a shift in the way the Indian populace thinks, acts, and lives. There was an almost 60% rise across the board from the 2019 study to the 2020 survey, with 26% of Indians engaging in yoga, 11% in cardiovascular exercise, and 10% in body-weight exercises.
In addition to people’s rising interest in health improvement, the recent epidemic has spurred a rise in accessible, on-demand virtual services. Trained experts are needed to teach, instruct, coach, and consult regardless of how people are enjoying fitness.
Obesity, hypertension, diabetes, cardiovascular disease, and high cholesterol have all seen dramatic increases in recent decades, and this has prompted Indian citizens to pay more attention to their health.
Due to this rising demand, there are now more health clubs, gyms, and fitness centres than ever before, driving up the demand for fitness professionals and the sales of fitness equipment.
Demand for Gyms & Fitness Business in India 2023
Statista reports that only 33 per cent of urban Indians have easy access to a gym. Twenty-five per cent of persons who stated they had never joined a gym or taken a lesson from a fitness teacher began going to the gym for the first time in the first half of 2022.
Nevertheless, all of these numbers point to a growing trend towards health and fitness in India. This information suggests demand for both personal trainers and fitness centres.
These are some factors which will encourage all those fitness business owners out there to grow their fitness business in India right away.
Factors driving the rapid growth of the Fitness Business in India
Several factors point to double-digit growth for India’s wellness or fitness market in the coming years. Let’s see some of these factors.
- Use of Technology & other apps – The availability of a wide variety of ways to work out and prioritise health is one of these aspects. Given the industry’s high potential and fragmented market, several investors are stepping forward to make substantial investments. Young people have begun to take health and fitness seriously because of the percolation of information made possible by the proliferation of technology and the meteoric rise in internet usage.
- Growing demand for Gym and Fitness Accessories – Because of the worldwide epidemic, more people are inquiring about fitness-related services and goods than ever before. Naturally, in a developing market like India, where new products and services are constantly appearing, shoppers have a greater propensity to buy what they want.
- Rise in Disposable Income – Younger generations’ preference for gym memberships as a result of increased disposable income is another developing aspect that can be termed a dominant trend. Young professionals have plenty of discretionary resources to spend on frivolous activities like going to the gym.
- Government Push “Make in India Campaign” – The “Make in India” initiative has had a significant impact on the industry because of the Indian government’s emphasis on health and fitness. While Ayurveda, meditation, and yoga have all been part of Indian culture for thousands of years, the demands of a more active and mobile younger generation have led to the development of innovative fitness technologies.
Trends that have shaped the bright future of the Fitness Industry in India
Allied Market Research predicts that by 2027, the global online fitness market will be worth $59.231 million, having grown at a compound annual growth rate (CAGR) of 33.1% between 2017 and 2027. According to the study’s findings, the proliferation of augmented and virtual reality training is another major factor fueling the market’s growth.
As a result, the fitness industry in India is being revolutionized by cutting-edge technology like artificial intelligence (AI), machine learning (ML), and intelligent wearables.
Leading Fitness Industry Trends for 2022
1. The Rise of Digital Technology in the Fitness Sector
Lifestyle changes have ensued after the outbreak. The Indian people have accepted the barricades as the “new normal.” The wellness and fitness business is not immune to the global trend of rapid technological advancements changing industries.
Amazing ideas, insights, and opportunities are springing up in the industry to help it overcome the challenges that have been brought to light. Demand for both online fitness programmes and home gym equipment was driven by COVID-19.
This has led to the emergence of a new demographic of people who value health and wellness.
2. The industry is changing due to technological developments.
With the present level of digitalization, each device provides useful information about progress and helps users keep tabs on their fitness goals in its own unique way. Let’s look at the future of the fitness business and how it will be affected by the technological changes that are already here.
- Machine Learning – Smart people today are making strides towards a healthier lifestyle by using fitness centres equipped with treadmills, bikes, and other technologically advanced equipment. People recognized a sizable need in the market and set out on a technical journey to enhance health in a way that matched their experiences of inelegance.
- Wearable Gadgets – Now more than ever, wearable devices are a crucial commodity. People today, however, are keenly aware of their bodies and constantly striving to improve their fitness by monitoring their pulse, heart rate, and number of steps taken. Wearable exercise gear helps automate chores like rep counting, progress monitoring, macro tracking, heart rate, blood pressure, and other variables affecting active energy, all while increasing user motivation and creating a more disciplined lifestyle.
- Workouts using AI – Our current period is one of extraordinary innovation. Marketers can provide cutting-edge health and fitness products thanks to AI-powered deployable data. Several systems currently available provide real-time monitoring of exercise progress in conjunction with live trainer instructions and AI-enabled tracking.
Top Trends in India’s Fitness Industry to look out for in 2023.
- Biohacking’s Impact on the Health and Performance Industry
- Online Exercise Programmes and Hybrid Memberships
- Fitness Related Gadgets
- Workout with low impact
- Outdoor Exercise workouts
- Small workout sessions
- Mindfulness Training
- Group Personalized Training
- Hygiene Awareness
- Home-based gyms
Fitness Industry in India – FAQs
Q.1. What is the future of the fitness industry in India?
Between 2021 and 2026, IMARC Group predicts the market will expand at a CAGR of 8.6%. There are a lot of variables, such as advancements in technology and the availability of various workout and health-focused options, that point to double-digit growth for the health and fitness market in India soon.
Q.2. What is the scope of the fitness industry in India?
In recent years, India’s fitness business has expanded at an astounding rate. Twenty million people searched for “fitness near me” on Google each month in 2019. In 2020, the Fitness market is expected to generate $2,190 million in revenue from 167 million active consumers.
Q.3. Why is the fitness business growing in India?
While ancient Indian traditions like Ayurveda, meditation, and yoga have contributed to a modern emphasis on health and wellness, the demands of a more mobile and urbanised youth population have prompted the development of novel technological approaches to exercise and wellness.
To Conclude,
People are getting fit in a variety of ways, including working out at home and going to gyms. As customers become more health conscious, demand for fitness centres and related products has risen. There seems to be a fitness studio popping up every day.
The fitness industry is being consolidated by several large multinational corporations, established players, and innovative newcomers from all over the world. It has also spawned novel ways of doing business and generating income.
Indian consumers may now take advantage of a wide range of services and goods that are primarily technology-based thanks to the novel intersection of fitness and digitization.
In addition, individuals are starting to take exercise more seriously as they learn more about its benefits.
All the foregoing suggests that the fitness business in India has a promising future and that its clients will be able to improve their health. For more details on how to franchise your fitness business in India, you can get in touch with us at Sparkleminds. Our years of expertise have helped many businesses grow domestically and globally also.
